Turtle Beach Corporate Overview
2023 INCREASED OUTLOOK(1)
2023
$265M
Net Revenue
$270M
10% - 12%
Growth
Gross Margin
-28% - 30%
Adj. EBITDA
$6M - $8M
2023 Outlook Commentary
Reflects expectation of the Company outperforming gaming markets in specific categories based on exciting
product releases for 2023, including the recently launched ultra-premium Stealth Pro. Continued execution of
long-term business strategy projects return to 10%+ growth moving forward.
Reflects expectation of ~$3M in remaining higher freight costs and ~$7M in continued elevated promotional
levels which are expected to abate as the year progresses. Long-term target remains mid 30's gross margin.
Reflects above factors. Long-term financial outlook anticipates a progressive recovery to 10%+ EBITDA margin
target over time as revenue grows.
Adj. EPS
-
($0.20) – ($0.30)
Reflects above factors; anticipates full year effective tax rate of 20%.
Diluted Shares
~17M
1. Guidance provided May 4, 2023
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