Turtle Beach Corp
NASDAQ:HEAR

  • LAST PRICE
    15.7846
  • TODAY'S CHANGE (%)
    0.6646 (4.3955%)
  • Bid / Lots
    15.7700/ 1
  • Ask / Lots
    15.7900/ 1
  • Open / Previous Close
    15.3900 / 15.1200
  • Day Range
    15.3400
    15.9200
  • 52 Week Range
    9.7700
    18.4500
  • Volume
    107,278

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  • Nov 8, 2024

  • Nov 7, 2024

      Show headlines and story abstract

    • 4:24PM ET on Thursday Nov 07, 2024 by MT Newswires
      Companies Mentioned: HEAR
      04:24 PM EST, 11/07/2024 (MT Newswires) -- ...

    • 4:15PM ET on Thursday Nov 07, 2024 by Dow Jones
      Companies Mentioned: HEAR
      Stock-based compensation 3,447 8,554 Deferred income taxes (6,739) (178) Change in sales returns reserve 1,369 (2,473) Provision for obsolete inventory 4,690 200 Loss on impairment of asset 753 -- Changes in operating assets and liabilities, net of acquisitions: Accounts receivable 4,344 12,563 Inventories (43,597) (4,986) Accounts payable 30,050 19,072 Prepaid expenses and other assets 127 385 Income taxes payable 485 126 Other liabilities (10,340) (2,869) ----------- ----------- Net cash provided (used for) by operating activities (8,553) 7,944 ----------- ----------- CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property and equipment (3,392) (1,924) Acquisition of a business, net of cash acquired (77,294) -- ----------- ----------- Net cash used for investing activities (80,686) (1,924) ----------- ----------- CASH FLOWS FROM FINANCING ACTIVITIES Borrowings on revolving credit facilities 242,609 149,995 Repayment of revolving credit facilities (183,983) (155,787) Proceeds of term loan 50,000 -- Repayment of term loan (729) -- Proceeds from exercise of stock options and warrants 3,004 1,718 Repurchase of common stock (25,339) (974) Debt issuance costs (2,897) (80) ----------- ----------- Net cash provided by (used for) financing activities 82,665 (5,128) ----------- ----------- Effect of exchange rate changes on cash and cash equivalents 1,651 52 Net increase (decrease) in cash and cash equivalents (4,923) 944 Cash and cash equivalents - beginning of period 18,726 11,396 ----------- ----------- Cash and cash equivalents - end of period $ 13,803 $ 12,340 =========== =========== Turtle Beach Corporation GAAP to Adjusted EBITDA Reconciliation (in thousands) Table 4. Three Months Ended Nine Months Ended September 30, September 30, ---------------- ------------------ 2024 2023 2024 2023 ------- ------- ------- -------- (in thousands) Net loss $ 3,413 $(3,606) $(3,956) $(26,231) Interest expense 2,712 107 5,082 253 Depreciation and amortization 3,322 1,212 8,104 3,673 Stock-based compensation 1,496 1,625 3,447 8,554 Income tax benefit (1) 46 501 (5,501) 377 Restructuring expense (2) 910 1,104 1,657 1,104 CEO transition related costs (3) -- -- -- 2,874 Business transaction expense (4) 3,510 -- 9,814 -- Incremental costs on acquired inventory (5) 833 -- 2,084 -- Proxy contest and other (6) 26 94 30 1,936 ------ ------ ------ ------- Adjusted EBITDA $16,268 $ 1,037 $20,761 $ (7,460) ====== ====== ====== =======

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