乌龟海岸 2025年季度报告

or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Large accelerated filer☐Accelerated filerNon-accelerated filer☐Smaller reporting company Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No The number of shares of the registrant’s Common Stock, par value $0.001 per share, outstanding on April 30, 2025was20,146,401 PART I. FINANCIAL INFORMATIONFinancial Statements (unaudited) 1Item 1A.Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsOther InformationExhibitsSIGNATURES $(664)$Other comprehensive income (loss): Condensed Consolidated Balance Sheets(in thousands, except par value and share amounts)March 31,December 31,20252024(unaudited)ASSETS Note1. Description of Business OrganizationTurtle Beach Corporation (“Turtle Beach” or the “Company”), headquartered in San Diego, California and incorporated in the state Turtle Beach, a worldwide leader of feature-rich headset solutions for use across multiple platforms, including video game andentertainment consoles, handheld consoles, personal computers (“PC”), tablets and mobile devices, expanded its brand beyondgaming headsets and launched its gaming controller product line, as well as gaming flight simulation and racing simulationaccessories, and strengthened its gaming PC keyboards and mice product lines. In 2024, Turtle Beach acquired Performance Note2. Summary of Significant Accounting Policies The accompanying interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations ofthe Securities and Exchange Commission (“SEC”) and, in the opinion of management, reflect all adjustments (which include flows for the periods presented.All intercompany accounts and transactions have been eliminated in consolidation. Certain information and footnote disclosures,normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles(“GAAP”), have been condensed or omitted pursuant to those rules and regulations. The Company believes that the disclosuresmade are adequate to make the information presented not misleading. The results of operations for the interim periods are notnecessarily indicative of the results of operations for the entire fiscal year. Use of estimates: The preparation of financial statements in conformity with generally accepted accounting principles requiresmanagement to use estimates and assumptions that affect the reported amount of assets and liabilities and disclosures of contingent reporting period. The significant estimates and assumptions used by management affect: sales return reserve, allowances for cash-based incentive programs, warranty reserve, valuation of inventory, valuation of long-lived assets, goodwill and other intangible assets, depreciation and amortization of long-lived assets, valuation of deferred tax assets, probability of performance sharesvesting and forfeiture rates utilized in issuing stock-based compensation awards. The Company evaluates estimates andassumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when reconciliation categories and income taxes paid by jurisdiction. The amendments are effective for the Company’s annual periodsbeginning January 1, 2025, with early adoption permitted, and should be applied either prospectively or retrospectively. TheCompany is currently evaluating the impact of the adoption of this standard to determine its impact on the Company's disclosures.In November 2024, the FASB issued ASU 2024-03, Reporting Comprehensive Income—Expense Disaggregation Disclosures periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluatingthe impact of the adoption of this standard to determine its impact on the Company's disclosures.Note 3. Business Combinations common stock. PDP was a privately held gaming accessories leader that designs and distributes video game accessories, includingcontrollers, headsets, power supplies, cases, and other accessories. As a result of the acquisition, the Company strengthened its leadership position in hardware gaming accessories and expanded its product portfolio. Consideration for the transaction consisted of the issuance of3.45million shares of Company common stock and approximately$78.9million in cash, subject to customary post-closing adjustments for working capital, closing cash, closing debt and closingthird party expenses. On a fully-diluted basis, issued stock rep