Turtle Beach (HEAR) Investor presentation summary

Market leadership and brand position

• Maintains #1 position in gaming headsets for 16 years, with over 86 million units sold and strong brand recognition in gaming accessories markets.

• Holds top 5 global brand status in controllers and PC gaming peripherals, with award-winning products and expanding reach in international markets.

• Recognized as a top 5 consumer electronics brand for gaming hardware and peripherals in 2024.

• Leads the US wired and wireless headset markets with over 27% and 24% revenue share, respectively.

• Strong partnerships with influencers and content creators, and robust retail distribution with over 470,000 global points.

Industry trends and market outlook

• Global gaming market projected to grow at a 6.5% CAGR, reaching $250B by 2030, with hardware and accessories as key drivers.

• Gaming accessories market valued at $11.2B, with significant segments in headsets, controllers, PC peripherals, and simulation.

• Market growth in 2026 driven by new console launches and high-profile game releases, such as Nintendo Switch 2 and GTA VI.

• Customization, content creation, and competitive gaming are fueling demand for high-quality, innovative accessories.

• Efficient supply chain management and technological advancements are critical for maintaining competitiveness.

Financial performance and strategy

• Q1 2026 revenue was $42.2M, down from $63.9M YoY, with gross margin at 26.8% and a net loss of $15.2M.

• Adjusted EBITDA loss of $6.5M in Q1 2026, reflecting market softness and inventory adjustments.

• Repurchased ~$50M in shares since 2024; $56M remains on the $75M authorization.

• Refinanced credit facilities in April 2026, securing an $80M revolving ABL and $85M term loan for operational flexibility.

• Balance sheet as of March 31, 2026: $12.3M cash, $64.3M inventory, $53.6M term loan, and $41.3M net debt.