Turtle Beach Intrinsic Stock Value – TURTLE BEACH Reports FY2023 Q2 Earnings Results for Quarter Ending June 30 2023
August 18, 2023
🌥️Earnings Overview
TURTLE BEACH ($NASDAQ:HEAR) announced its fiscal year 2023 second-quarter earnings results on August 7 2023, which covered the period ending June 30 2023. Total revenue for this quarter rose to USD 48.0 million, a 16.2% increase from the same quarter last year. Net income also improved to -15.9 million compared to the -17.8 million reported for the same period in the previous year.
Price History
According to their report, the stock opened at $11.2 and closed at $11.4, a 1.8% increase from the previous closing price of $11.2. This marks a strong performance for the company, who has been focusing on growing their gaming accessory portfolio and expanding their customer base. TURTLE BEACH has seen strong success in the past year, and this quarter was no exception. With ongoing development of innovative products and their focus on customer experience, they have been able to maintain a steady growth pattern and remain competitive in the gaming industry. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Turtle Beach. More…
| Total Revenues | Net Income | Net Margin |
| 251.63 | -57.87 | -22.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Turtle Beach. More…
| Operations | Investing | Financing |
| 23.61 | -3.59 | -15.29 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Turtle Beach. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 139.54 | 65.48 | 4.28 |
Key Ratios Snapshot
Some of the financial key ratios for Turtle Beach are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -1.5% | -27.7% | -17.6% |
| FCF Margin | ROE | ROA |
| 8.0% | -34.9% | -19.9% |
Analysis – Turtle Beach Intrinsic Stock Value
GoodWhale has conducted an analysis of TURTLE BEACH‘s wellbeing and calculated the fair value of the stock to be around $11.0 using our proprietary Valuation Line. Our analysis indicates that the current stock price of $11.4 is slightly overvalued by 3.9%. We recommend investors to consider carefully the current market conditions and associated risks before deciding to invest in TURTLE BEACH. More…
Peers
In the world of video game accessories, there is stiff competition between Turtle Beach Corp and its competitors Quixant PLC, Corsair Gaming Inc, and Bigben Interactive. All four companies produce high-quality products that appeal to gamers of all levels of interest and expertise. While each company has its own strengths and weaknesses, all four are constantly striving to one-up the competition in an effort to gain market share.
– Quixant PLC ($LSE:QXT)
Quixant PLC is a designer and manufacturer of gaming platforms for the global gaming industry. The company has a market cap of 111.3M as of 2022 and a Return on Equity of 6.78%. Quixant’s products are used in a variety of gaming applications, including video lottery terminals, casino slot machines, and online gaming platforms. The company’s products are designed to provide a high level of performance, reliability, and flexibility to gaming operators.
– Corsair Gaming Inc ($NASDAQ:CRSR)
Corsair Gaming Inc is a company that manufactures and sells gaming peripherals and other gaming products. The company has a market cap of 1.21B as of 2022 and a return on equity of -2.68%. The company’s products include gaming keyboards, mice, headsets, and other gaming accessories.
– Bigben Interactive ($LTS:0O0E)
Bigben Interactive is a French company that specializes in the design and distribution of video game products. The company has a market capitalization of 141.94 million as of 2022 and a return on equity of 4.82%. Bigben Interactive is a publicly traded company on the Euronext Paris stock exchange. The company’s products are available in more than 50 countries.
Summary
TURTLE BEACH reported strong second quarter earnings for FY2023, with total revenue increasing 16.2% year-on-year to USD 48 million. Net income improved from a loss of -17.8 million in the same period last year to -15.9 million this year. It seems that the company is making progress in its turnaround efforts and investors should take note.
The outlook for the rest of the year appears positive, with potential for further growth in revenue and profits. It is thus worth considering TURTLE BEACH as an investment option at this time.
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