Turtle Beach Corporation (HEAR) financial statements (2022 and earlier)

Company profile

Business Address 44 SOUTH BROADWAY
WHITE PLAINS, NY 10601
State of Incorp. NV
Fiscal Year End December 31
SIC 3669 - Communications Equipment, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments37,72046,6818,2497,0785,2476,1837,114
Cash and cash equivalents37,72046,6818,2497,0785,2476,1837,114
Receivables35,95343,86744,53052,79750,53454,63357,192
Inventory, net of allowances, customer advances and progress billings101,93371,30145,71149,47227,51821,69826,146
Inventory101,93371,30145,71149,47227,51821,69826,146
Prepaid expense      260
Other undisclosed current assets17,5068,1274,0574,4693,4674,1214,191
Total current assets:193,112169,976102,547113,81686,76686,63594,903
Noncurrent Assets
Operating lease, right-of-use asset7,4125,7651,770
Property, plant and equipment6,9556,5753,9625,8564,6774,3116,859
Intangible assets, net (including goodwill)16,47413,31614,5261,0361,4041,61869,108
Goodwill10,6868,1788,515   31,152
Intangible assets, net (excluding goodwill)5,7885,1386,0111,0361,4041,61837,956
Deferred income tax assets5,8996,946 
Other undisclosed noncurrent assets6538758,5461,2121,4042,2362,981
Total noncurrent assets:37,39333,47728,8048,1047,4858,16578,948
TOTAL ASSETS:230,505203,453131,351121,92094,25194,800173,851
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities40,47542,52922,51117,72413,45911,92717,680
Accounts payable40,47542,52922,51117,72413,45911,92717,680
Debt  15,65537,38542,64038,55237,267
Other liabilities37,69336,12226,42218,48811,45116,41414,236
Total current liabilities:78,16878,65164,58873,59767,55066,89369,183
Noncurrent Liabilities
Long-term debt and lease obligation    27,62528,32328,930
Long-term debt, excluding current maturities    27,62528,32328,930
Liabilities, other than long-term debt10,9688,4033,2232,97921,23320,28019,086
Accounts payable and accrued liabilities3,774      
Deferred tax liabilities, net187  4
Deferred income tax liabilities 128 
Financial instruments subject to mandatory redemption, settlement terms, share value, amount    18,92117,48016,145
Other liabilities7,1948,2753,2232,7922,3122,8002,937
Other undisclosed noncurrent liabilities  1537,848   
Total noncurrent liabilities:10,9688,4033,37610,82748,85848,60348,016
Total liabilities:89,13687,05467,96484,424116,408115,496117,199
Stockholders' equity
Stockholders' equity attributable to parent141,369116,39963,38737,496(22,157)(20,696)56,652
Common stock16151414494943
Additional paid in capital198,278190,568176,776169,421148,045146,615136,693
Accumulated other comprehensive income (loss)127589116(476)(203)(560)(466)
Accumulated deficit(57,052)(74,773)(113,519)(131,463)(170,048)(166,800)(79,618)
Total stockholders' equity:141,369116,39963,38737,496(22,157)(20,696)56,652
TOTAL LIABILITIES AND EQUITY:230,505203,453131,351121,92094,25194,800173,851

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues366,354360,093234,663287,437149,135173,978162,747
Revenue, net149,135173,978162,747
Cost of revenue(237,971)(226,305)(155,950)(178,738)(98,132)(131,368)(122,056)
Gross profit:128,383133,78878,713108,69951,00342,61040,691
Operating expenses(107,952)(84,621)(68,286)(54,658)(46,205)(120,311)(115,090)
Operating income (loss):20,43149,16710,42754,0414,798(77,701)(74,399)
Nonoperating income (expense)1013,7572,545(7,779)463(2,421)(1,016)
Other nonoperating income (expense)1013,7572,209(7,779)463(2,421)(1,016)
Interest and debt expense(383)(467)(929)(5,335)(7,916)(7,447)(5,099)
Other undisclosed loss from continuing operations before equity method investments, income taxes  (336)    
Income (loss) from continuing operations before income taxes:20,14952,45711,70740,927(2,655)(87,569)(80,514)
Income tax expense (benefit)(2,428)(13,711)6,237(1,737)(593)387(2,393)
Net income (loss) available to common stockholders, diluted:17,72138,74617,94439,190(3,248)(87,182)(82,907)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):17,72138,74617,94439,190(3,248)(87,182)(82,907)
Other comprehensive income (loss)(462)473592(273)357(94)(237)
Comprehensive income (loss), net of tax, attributable to parent:17,25939,21918,53638,917(2,891)(87,276)(83,144)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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