Turtle Beach Corporation (TBCH) Income Statement
TBCH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTBCH revenue and net income
Where TBCH's revenue goes
2025Each bar shows an amount and its share of revenue. TBCH kept 4.9% of revenue as net income.
TBCH profit margins
TBCH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −14.2% | +10.0% | −2.3% | +7.0% |
| Gross profit | −7.5% | +34.4% | −2.3% | +11.4% |
| Operating income | −2.5% | — | −16.9% | — |
| Net income | −2.8% | — | −16.5% | — |
| EPS (diluted) | −41.1% | — | −16.8% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TBCH quarterly EPS vs estimates
Turtle Beach beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.24).
TBCH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $319.9M | $372.8M | $258.1M | $240.2M | $366.4M | $360.1M | $234.7M | $287.4M | $149.1M | $174.0M |
| Cost of revenue | $200.6M | $243.8M | $182.6M | $191.0M | $238.0M | $226.3M | $155.9M | $178.7M | $98.1M | $131.4M |
| Gross profit | $119.3M | $129.0M | $75.5M | $49.2M | $128.4M | $133.8M | $78.7M | $108.7M | $51.0M | $42.6M |
| Research & development | $16.9M | $17.3M | $17.1M | $19.1M | $17.5M | $12.3M | $7.9M | $5.6M | $5.6M | $8.3M |
| Sales, general & admin | $82.9M | $80.8M | $74.8M | $79.6M | $90.5M | $72.4M | $60.4M | $49.0M | $40.1M | $48.2M |
| Total operating expenses | $99.7M | $109.0M | $91.9M | $100.7M | $108.0M | $84.6M | $68.3M | $54.7M | $46.2M | $120.3M |
| Operating income | $19.5M | $20.0M | −$16.4M | −$51.5M | $20.4M | $49.2M | $10.4M | $54.0M | $4.8M | −$77.7M |
| Interest expense | $9.8M | $8.1M | $504,000 | $1.2M | $383,000 | $467,000 | $929,000 | $5.3M | $7.9M | $7.4M |
| Income before taxes | $16.8M | $10.7M | −$17.3M | −$54.5M | $20.1M | $52.5M | $11.7M | $40.9M | −$2.7M | −$87.6M |
| Income taxes | $1.1M | −$5.5M | $338,000 | $5.1M | $2.4M | $13.7M | −$6.2M | $1.7M | $593,000 | −$387,000 |
| Net income | $15.7M | $16.2M | −$17.7M | −$59.5M | $17.7M | $38.7M | $17.9M | $39.2M | −$3.2M | −$87.2M |
| EBITDA | $39.0M | $30.1M | −$12.0M | −$47.4M | $25.8M | $58.2M | $17.8M | $50.5M | $9.7M | −$70.9M |
| EPS (diluted) | $0.83 | $1.41 | −$0.35 | −$1.53 | $1.08 | $2.08 | $1.18 | $2.99 | −$0.21 | −$1.34 |
| Gross margin | 37.3% | 34.6% | 29.3% | 20.5% | 35.0% | 37.2% | 33.5% | 37.8% | 34.2% | 24.5% |
| Operating margin | 6.1% | 5.4% | −6.4% | −21.4% | 5.6% | 13.7% | 4.4% | 18.8% | 3.2% | −44.7% |
| Net margin | 4.9% | 4.3% | −6.8% | −24.8% | 4.8% | 10.8% | 7.6% | 13.6% | −2.2% | −50.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $56.4M | $42.2M | $118.8M | $80.5M | $56.8M | $63.9M | $146.1M | $94.4M | $76.5M | $55.8M | $99.5M | $59.2M |
| Cost of revenue | $34.5M | $32.9M | $71.2M | $50.4M | $40.5M | $40.5M | $92.1M | $60.2M | $53.4M | $38.1M | $67.7M | $41.5M |
| Gross profit | $21.9M | $9.3M | $47.6M | $30.1M | $16.3M | $23.4M | $54.0M | $34.1M | $23.1M | $17.8M | $31.8M | $17.7M |
| Research & development | $4.8M | $4.6M | $4.3M | $4.2M | $4.5M | $4.0M | $4.5M | $4.3M | $4.6M | $3.9M | $4.5M | $4.4M |
| Sales, general & admin | $20.1M | $20.8M | $22.1M | $20.1M | $7.5M | $8.2M | $25.0M | $19.9M | $21.2M | $14.7M | $19.0M | $15.8M |
| Total operating expenses | $24.9M | $23.1M | $26.3M | $24.7M | $22.4M | $21.8M | $30.6M | $27.7M | $27.2M | $23.5M | $23.4M | $20.2M |
| Operating income | −$3.1M | −$13.8M | $21.3M | $5.4M | −$6.2M | $1.5M | $23.4M | $6.4M | −$4.1M | −$5.7M | $8.4M | −$2.5M |
| Interest expense | $3.7M | $1.4M | $2.0M | $3.7M | $2.0M | $2.0M | $3.0M | $2.7M | $2.2M | $150,000 | $251,000 | $107,000 |
| Income before taxes | −$6.8M | −$15.3M | $18.8M | $2.0M | −$3.2M | −$773,000 | $20.1M | $3.5M | −$6.7M | −$6.2M | $8.5M | −$3.1M |
| Income taxes | $521,000 | −$123,000 | $1.2M | $254,000 | −$246,000 | −$109,000 | −$10,000 | $46,000 | $841,000 | −$6.4M | −$39,000 | $501,000 |
| Net income | −$7.3M | −$15.2M | $17.6M | $1.7M | −$2.9M | −$664,000 | $20.1M | $3.4M | −$7.5M | $155,000 | $8.6M | −$3.6M |
| EBITDA | −$380,000 | −$11.1M | $23.9M | $8.8M | $2.0M | $4.4M | $26.4M | $9.5M | $589,000 | −$4.6M | $9.1M | −$1.8M |
| EPS (diluted) | −$0.36 | −$0.62 | $0.98 | $0.12 | −$0.14 | −$0.13 | $0.95 | $0.40 | −$0.20 | $0.26 | $0.47 | −$0.14 |
| Gross margin | 38.8% | 22.0% | 40.1% | 37.4% | 28.6% | 36.6% | 37.0% | 36.2% | 30.2% | 31.8% | 32.0% | 29.9% |
| Operating margin | −5.4% | −32.8% | 17.9% | 6.7% | −10.9% | 2.4% | 16.0% | 6.8% | −5.4% | −10.2% | 8.4% | −4.3% |
| Net margin | −13.0% | −36.1% | 14.8% | 2.1% | −5.2% | −1.0% | 13.8% | 3.6% | −9.8% | 0.3% | 8.6% | −6.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TBCH's financial statements (latest annual report filed December 31, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TBCH financial results
In fiscal year 2025 (ended December 31, 2025), Turtle Beach reported revenue of $319.9 million, down 14.2% from the year before. It had net income of $15.7 million (down 2.8%), a net profit margin of 4.9%. Diluted earnings per share came to $0.83. Over five years revenue grew at an average rate of −2.3% a year.
See the TBCH stock overview for the latest quote and news, or the TBCH chart for price history and technical indicators.
TBCH income statement FAQ
What is Turtle Beach's annual revenue?
Turtle Beach reported total revenue of $319.9 million for fiscal year 2025, which ended on December 31, 2025. That was down 14.2% from $372.8 million the previous year.
Is Turtle Beach profitable?
Yes. Turtle Beach reported net income of $15.7 million in fiscal 2025, a net profit margin of 4.9%; its operating margin was 6.1%.
What is Turtle Beach's gross margin?
Turtle Beach's gross margin was 37.3% in fiscal 2025: for every $100 of revenue, Turtle Beach kept $37 after the direct cost of its products and services.
How much does Turtle Beach spend on research and development?
Turtle Beach spent $16.9 million on research and development in fiscal 2025, 5.3% of revenue.
How fast is Turtle Beach growing?
Revenue grew −2.3% a year on average over the last five fiscal years, from $360.1 million to $319.9 million.
What are Turtle Beach's earnings per share?
Turtle Beach earned $0.83 per diluted share in fiscal 2025, compared with $1.41 a year earlier.
When will Turtle Beach report its next earnings?
Turtle Beach is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Turtle Beach's fiscal year end?
Turtle Beach's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on December 31, 2025.