Turtle Beach Corporation (TBCH)
🔔 Watch stock
Turtle Beach has been the market-share leader in console gaming headsets for 16 years — and the market has all but forgotten it: 2 Reddit mentions in 24 hours (as of July 15, 2026), a market value around $240 million (data as of July 10, 2026). We read the annual reports (10-K) for 2024 and 2025 and the quarterly report (10-Q) as of March 31, 2026: revenue down 34 percent in the first quarter of 2026, a net loss that takes back almost all of the 2025 profit, tariff whiplash up to the Supreme Court, $3.4 million of inventory stolen in transit along with an adverse opinion on internal controls — and an activist who now sits on the board himself. Not investment advice — just the question of what you are holding while you wait for the wave.
Appears in These Scanners
This stock currently matches 3 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Basics
Performance
Valuation
Profitability
Balance Sheet & Safety
Growth
Quality & Screener
AI Rating
Uses AITurtle Beach erzielt keine KI-Umsätze, dokumentiert im Geschäftsbericht (10-K) 2025 aber ausdrücklich einen begrenzten operativen KI-Einsatz: „We currently use limited traditional and generative AI solutions for certain functions as licensed software in a secured environment.“ Der Kontext ist das IT-/Cybersecurity-Kapitel; zusätzlich nennt der Bericht als Wettbewerbsrisiko, dass Konkurrenten KI schneller integrieren könnten. Kein KI-Produkt, keine KI-Umsatzquelle, kein konkretes Bedroht-Szenario fürs Geschäftsmodell (Konsolen-Headsets/Controller) — nach Kriterienkatalog „nutzt“. In den vier jüngsten Quartalsberichten (10-Q) und im 10-K 2024 finden sich keine KI-Treffer (Negativ-Befund dokumentiert).
View the full file — quotes, sources, reviewed filings
„We currently use limited traditional and generative AI solutions for certain functions as licensed software in a secured environment. We may incorporate additional AI solutions into our IT systems in the future, and these solutions may become important in our operations over time."
Wir setzen derzeit in begrenztem Umfang traditionelle und generative KI-Lösungen für bestimmte Funktionen als lizenzierte Software in einer gesicherten Umgebung ein. Künftig könnten wir weitere KI-Lösungen in unsere IT-Systeme integrieren, und diese Lösungen könnten im Laufe der Zeit für unseren Betrieb an Bedeutung gewinnen.
„Our competitors or other third parties may incorporate AI into their IT systems and financial services operations more quickly or more successfully than us, which could impair our ability to compete effectively and adversely affect our operating results."
Unsere Wettbewerber oder andere Dritte könnten KI schneller oder erfolgreicher als wir in ihre IT-Systeme und Abläufe integrieren, was unsere Fähigkeit, wirksam zu konkurrieren, beeinträchtigen und unsere Betriebsergebnisse negativ beeinflussen könnte.
Filings Reviewed: 10-Q 2026-05-07 · 10-Q 2025-11-06 · 10-Q 2025-08-07 · 10-Q 2025-05-08 · 10-K 2026-03-12 · 10-K 2025-03-17
Rated on July 16, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.95 | 92.10 | 146 | 46.80 | 13.80 | 14 | 13 |
| 2025: Q1 | -0.03 | -505.10 | 64 | 14.40 | -1.00 | 41 | 40 |
| 2025: Q2 | -0.14 | – | 57 | -25.80 | -5.20 | -3 | -4 |
| 2025: Q3 | 0.08 | -47.00 | 81 | -14.70 | 2.10 | -15 | -16 |
| 2025: Q4 | 0.87 | -8.80 | 119 | -18.70 | 14.80 | 13 | 13 |
| 2026: Q1 | -0.78 | – | 42 | -34.00 | -36.10 | 29 | 29 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Assessment: Opportunities & Risks
Per the annual report, the market-share leader in console gaming headsets for 16 years running (Circana retail data), built out into a broad accessories supplier via PDP (2024, $114.4 million), ROCCAT and Neat; more than 475,000 points of sale in over 40 countries (10-K for 2025).
Revenue down 14.2 percent in 2025 and down 34 percent in Q1 2026 with a $15.2 million net loss — almost the complete 2025 annual profit; the 10-K names the dependence on third-party platforms and game titles as a risk factor, and the next Microsoft/Sony consoles are expected only in two to three years.
Many products are manufactured in China per the 10-K; tariffs weighed on the 2025 gross margin, and 2026 brought the whiplash of the Supreme Court ruling (IEEPA tariffs not authorized, February 2026), an open refund process and a new 10 percent Section 122 tariff (since February 24, 2026) — predictability and margin suffer.
Roughly $34 million of 2025 free cash flow on just $1.4 million of capex; $49 million of buybacks since the start of 2024, a $75 million program through May 2027 ($57.8 million remaining); $111.9 million of equity, net bank debt around $40 million (03/31/2026), Altman Z around 5.2 (data as of July 10, 2026).
Misappropriation of $3.4 million of in-transit inventory in 2024 (control weaknesses, remediated), a new IT control weakness as of 12/31/2025 with an adverse auditor opinion on internal controls (March 12, 2026); a poison pill with a 10 percent trigger (June 2025) and insider transactions within a small circle (Donerail/Diversis, August 2025) — all disclosed, but a lot of concentrated power for 290 employees.
Turtle Beach is not a bankruptcy candidate but a cash-rich niche market leader in the lull between two console waves: $34 million of free cash flow and consistent buybacks stand against revenue down 34 percent in the first quarter of 2026, tariff whiplash, 58.8 percent of revenue with three customers and two control weaknesses in two years including an adverse opinion. On 2025 cash flow the stock is cheap, on trailing earnings expensive — which reading is right will be decided by other people's calendars: those of the console makers and of tariff policy. Not investment advice.
- TBCH reached our research list via the Reddit hype scanner (ApeWisdom, just 2 mentions in 24 hours, as of July 15, 2026) — here the silence was the hook, not the hype. The 3 hits in our in-house stock scanner carry the July 10, 2026 data cut-off and rotate daily.
- Scanner metrics (P/E, P/B, Piotroski, Altman Z, relative strength) are computed from trailing twelve-month figures; the Q1 2026 loss pushes the trailing P/E to 612 — that is a vanishing-earnings effect, not a growth premium.
- Price and valuation figures are dated to July 10, 2026 (about $12.30, market value roughly $240 million); analyses are evergreen, daily prices are not a buy argument.
About the Company
Turtle Beach Corporation, ein Audio- und Gaming-Technologieunternehmen, entwickelt und vermarktet Audio- und Gaming-Zubehörprodukte unter der Marke Turtle Beach in Amerika, Europa, im Nahen Osten und im asiatisch-pazifischen Raum. Das Unternehmen bietet Headsets, Controller, Tastaturen, Mäuse, Flug- und Renn-Sim…
| Employees | 268 |
|---|---|
| Headquarters | San Diego, CA |
| Website | turtlebeach.com |
| IPO Date | 5. Oct 2010 |
| Next Earnings | 6. Aug 2026 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Cristopher Keirn | CEO & Director | 1971 |
| Megan Wynne | General Counsel & Corporate Secretary | 1969 |
| Andrew Clipsham | Interim Chief Financial Officer | – |
| Jose Rosado | Senior Vice President of Global Operations | – |
| MacLean Marshall | Senior Director of PR & Communications | – |
| Drew Johnson | Senior Vice President of Global Sales | – |
| Kate Zibell | Chief Marketing Officer | – |
| Matt Seymour | Senior Vice President of Product Management | – |
| Ryan Dell | Senior Vice President of Global Marketing | – |
| Tom Roberts | Chief Strategy Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Chart
Interactive price chart (TradingView).
Data as of: July 20, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.