Turtle Beach (NASDAQ: HEAR) reported Q1 EPS of $0.01, $0.23 better than the analyst estimate of ($0.22). Revenue for the quarter came in at $55.85 million versus the consensus estimate of $52.54 million.

GUIDANCE:

Turtle Beach sees FY2024 revenue of $370-380 million, versus the consensus of $374.3 million, with the growth driven primarily by the acquisition of PDP and the expected out-performance of the gaming markets in specific categories based on the Company’s product plans for 2024. The Company expects pro forma combined Adjusted EBITDA to be between $51 million and $54 million, which incorporates approximately nine months of operations from PDP.

The Company further reiterates its long-term goals of a 10%+ revenue CAGR, a mid-30’s gross margin percentage, and is focused on driving a mid-teens percentage for Adjusted EBITDA margins.

For earnings history and earnings-related data on Turtle Beach (HEAR) click here.