乌龟海岸 2025年季度报告

FORM10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller Large accelerated filerNon-accelerated filer Accelerated filerSmaller reporting companyEmerging 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☒NoThe number of shares of the registrant’s Common Stock, par value $0.001 per share, outstanding on April 30, 2025was20,146,401 INDEX PART I. FINANCIAL INFORMATION Item 1.Financial Statements (unaudited)Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024Condensed Consolidated Statements of Comprehensive (Loss) Income for the Three Months Ended March 31,2025 and 2024 Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024Condensed Consolidated Statement of Stockholders' Equity for the Three Months Ended March 31, 2025 and2024Notes to Condensed Consolidated Financial Statements Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations20 Item 3.Quantitative and Qualitative Disclosures About Market Risk Item 4.Controls and Procedures PART II. OTHER INFORMATION SIGNATURES Turtle Beach CorporationCondensed Consolidated Statementsof Comprehensive Income (Loss) Note1. Description of Business Organization Turtle Beach Corporation (“Turtle Beach” or the “Company”), headquartered in San Diego, California and incorporated in the stateof Nevada in 2010, is a premier audio and gaming technology company with expertise and experience in developing, commercializing, and marketing innovative products across a range of large addressable markets under the Turtle Beach® brands.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 Basis of Presentation and Principles of Consolidation 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 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 disclosures The December 31, 2024 Condensed Consolidated Balance Sheet has been derived from the Company’s audited financial statementsincluded in its Annual Report on Form 10-K filed with the SEC on March 17, 2025 (“Annual Report”). These financial statements should be read in conjunction with the annual financial statements and the notes thereto included in theAnnual Report that contains information useful to understanding the Company’s businesses and financial statement presentations. 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 contingentassets and liabilities at the date of the financial statements, as well as the