Turtle Beach Generates $29.4M Cash Flow, Reaffirms $335M–$355M Revenue Guidance
Turtle Beach’s Q1 net revenue was $42.2 million with a net loss of $15.2 million and adjusted EBITDA loss of $6.5 million while generating $29.4 million of operating cash flow. The company refinanced credit facilities and reaffirmed 2026 net revenue guidance of $335–$355 million with adjusted EBITDA of $44–$48 million.
1. First-Quarter Financial Results
Turtle Beach reported Q1 net revenue of $42.2 million, a gross margin of 26.8%, a net loss of $15.2 million and an adjusted EBITDA loss of $6.5 million.
2. Operating Cash Flow
The company generated $29.4 million in operating cash flow during the quarter, enabling it to pay down its revolving credit line to a zero balance at March 31.
3. Credit Facility Refinancing
On May 4, Turtle Beach replaced its prior $150 million credit agreement with an $80 million asset-based lending facility and an $85 million term loan, enhancing capital allocation flexibility.
4. Reaffirmed Guidance and Buybacks
Turtle Beach reaffirmed full-year 2026 net revenue guidance of $335–$355 million and adjusted EBITDA of $44–$48 million, and has $56 million remaining under its $75 million share repurchase authorization.