Turtle Beach (HEAR) Misses Q4 EPS by 10c

Turtle Beach (NASDAQ: HEAR) reported Q4 EPS of $0.10, $0.10 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $100.9 million versus the consensus estimate of $110.45 million.

Full Year 2023 Outlook:

In light of the aforementioned market and operational conditions, the Company expects net revenues for fiscal year 2023 to increase approximately 10% (~$265 million) with the growth driven primarily by expected out-performance of the gaming markets in specific categories based on the Company’s product plans for 2023. The Company expects adjusted EBITDA of approximately $5 million, a roughly $23 million year-over-year improvement, but including roughly $10 million of remaining negative impact of abnormally high competitive discounting and freight costs. Both items are expected to abate as we progress through the year.

The Company is maintaining its long-term goals of 10-20% annual growth and 10+% EBITDA margins.

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

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