Turtle Beach (TBCH) Q3 FY2026 earnings: revenue $85 million, up 5.3% on the year

Turtle Beach Corp. (TBCH) reported revenue of $85 million for Q3 FY2026, the quarter ended 30 September 2026, up 5.3% on the same quarter a year earlier. Net income was $4 million, up 155.4% on the year, and diluted earnings per share $0.24. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$85 million

+5.3% on the year · +50.3% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

6.9%

6.7% a year earlier

Q4 FY2024Q3 FY2026

Net income

$4 million

+155.4% on the year

Q4 FY2024Q3 FY2026

Diluted EPS

$0.24

+200.0% on the year

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 kept.

Revenue returned to year-over-year growth: Net revenue rose 5.3% to $84.7 million from $80.5 million a year earlier. Management described the quarter as a return to growth.
Gross margin fell to 34.9%: Gross margin was 34.9%, down from 38.8% in the second quarter and 37.4% a year earlier. Management cited product mix and higher promotional, tariff and logistics costs during the quarter.
Adjusted EBITDA fell year over year: Adjusted EBITDA was $8.1 million against $11.0 million a year earlier. Operating income was $5.9 million, which included a $1.2 million insurance recovery in operating expenses.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	84.7	56.4	80.5	+50.3%	+5.3%
Cost of revenue	55.1	34.5	50.4	+59.7%	+9.3%
Gross profit	29.6	21.9	30.1	+35.4%	-1.5%
Gross margin	34.9%	38.8%	37.4%
Research and development	4.6	4.8	4.2	-5.4%	+9.4%
Operating income	5.9	-3.1	5.4		+9.7%
Operating margin	6.9%	-5.4%	6.7%
Interest expense	n/a	2.2	1.8
Pre-tax income	3.0	-6.8	2.0		+50.4%
Income tax	-1.4	0.5	0.3
Effective tax rate	-47.9%	n/a	12.9%
Net income	4.4	-7.3	1.7		+155.4%
Net margin	5.2%	-13.0%	2.1%
Diluted EPS	$0.24	-$0.38	$0.08		+200.0%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-6.4	6.5	-15.2
Capital expenditure	0.9	0.6	0.7	+60.7%	+36.6%
Free cash flow	-7.3	5.9	-15.9
Free cash flow margin	-8.7%	10.5%	-19.7%
Cash from investing	-0.9	-0.6	-0.7
Cash from financing	-1.1	1.3	17.3
Depreciation and amortisation	0.7	0.8	1.1	-12.5%	-36.4%
Share-based compensation	1.0	1.3	1.4	-17.7%	-24.5%
Buybacks	0.0	25.0	10.3
Diluted shares, weighted	18m	19m	20m	-5.1%	-10.8%
Shares outstanding at period end	18m	18m	19m	+0.2%	-7.1%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	86.4	80.7	111	+7.0%	-22.0%
Debt	79.9	80.7	90.5	-1.0%	-11.7%
Other liabilities	85.5	53.8	77.1	+59.0%	+10.9%
Total liabilities and equity	252	215	278	+17.0%	-9.5%
Fixed assets	3.1	2.4	3.8	+30.5%	-19.4%
Goodwill	50.4	50.4	50.4	0.0%	0.0%
Intangible assets	28.5	30.4	36.4	-6.2%	-21.7%
Cash and equivalents	11.2	19.6	12.3	-42.8%	-8.7%
Receivables	60.4	37.9	56.8	+59.3%	+6.5%
Inventory	79.8	56.5	95.0	+41.1%	-16.0%
Other assets	18.4	17.9	23.6	+2.3%	-22.3%
Total assets	252	215	278	+17.0%	-9.5%

Questions

What was Turtle Beach's revenue in Q3 FY2026?

Turtle Beach (TBCH) reported revenue of $85 million for Q3 FY2026, the quarter ended 30 September 2026, up 5.3% on the same quarter a year earlier.

How much did Turtle Beach earn in Q3 FY2026?

Net income for Q3 FY2026 was $4 million, up 155.4% on the year, and diluted earnings per share $0.24.

When did Turtle Beach report Q3 FY2026 results?

Turtle Beach filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	109	46.7	41.3	51.3	101	51.4	48.0	59.2	99.5	55.8	76.5	94.4	146	63.9	56.8	80.5	119	42.2	56.4	84.7
Cost of revenue	73.9	32.6	33.4	44.0	80.9	37.3	36.1	41.5	67.7	38.1	53.4	60.2	92.1	40.5	38.5	50.4	71.2	30.9	34.5	55.1
Gross profit	35.5	14.0	7.9	7.3	20.0	14.1	11.9	17.7	31.8	17.8	23.1	34.1	54.0	23.4	18.3	30.1	47.6	11.3	21.9	29.6
Gross margin	32%	30%	19%	14%	20%	27%	25%	30%	32%	32%	30%	36%	37%	37%	32%	37%	40%	27%	39%	35%
R&D	4.6	5.3	5.1	4.4	4.3	4.1	4.2	4.4	4.5	3.9	4.6	4.3	4.5	4.0	4.5	4.2	4.3	4.6	4.8	4.6
Operating income	6.2	-8.3	-21.4	-13.7	-8.1	-6.5	-15.8	-2.5	8.4	-5.7	-4.1	6.4	23.4	1.5	-0.3	5.4	20.9	-14.1	-3.1	5.9
Operating margin	6%	-18%	-52%	-27%	-8%	-13%	-33%	-4%	8%	-10%	-5%	7%	16%	2%	-1%	7%	18%	-33%	-5%	7%
Interest expense	0.1	0.1	0.1	0.5	0.6	0.2	0.1	0.1	n/a	0.4	2.2	2.7	3.0	2.0	2.0	1.8	2.1	1.4	2.2	n/a
Pre-tax income	7.3	-9.1	-22.6	-16.4	-6.4	-6.8	-16.0	-3.1	8.5	-6.2	-6.7	3.5	20.1	-0.8	-3.2	2.0	18.8	-15.3	-6.8	3.0
Tax rate	38%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-0%	n/a	n/a	1%	-0%	n/a	n/a	13%	6%	n/a	n/a	-48%
Net income	4.5	-6.5	-17.8	-12.0	-23.2	-6.7	-15.9	-3.6	8.6	0.2	-7.5	3.4	20.1	-0.7	-2.9	1.7	17.6	-15.2	-7.3	4.4
Net margin	4%	-14%	-43%	-23%	-23%	-13%	-33%	-6%	9%	0%	-10%	4%	14%	-1%	-5%	2%	15%	-36%	-13%	5%
Diluted EPS	$0.25	-$0.40	-$1.08	-$0.73	-$1.40	-$0.40	-$0.93	-$0.21	$0.47	$0.01	-$0.35	$0.16	$0.95	-$0.03	-$0.14	$0.08	$0.87	-$0.78	-$0.38	$0.24
Operating cash flow	10.0	-13.3	-27.9	-28.3	27.7	29.0	-4.8	-16.3	19.1	27.3	-12.6	-23.2	14.3	40.5	-3.1	-15.2	13.3	29.4	6.5	-6.4
Capital expenditure	1.1	0.6	0.6	0.7	1.7	0.9	0.4	0.7	0.2	0.7	1.2	1.4	1.5	0.2	0.3	0.7	0.2	0.3	0.6	0.9
Free cash flow	8.9	-14.0	-28.5	-29.0	26.0	28.1	-5.1	-16.9	18.9	26.5	-13.9	-24.6	12.8	40.3	-3.5	-15.9	13.1	29.1	5.9	-7.3
Buybacks	n/a	n/a	n/a	n/a	n/a	n/a	n/a	0.0	n/a	n/a	n/a	10.1	n/a	1.8	5.0	10.3	1.9	2.2	25.0	0.0
Shares outstanding	16m	16m	17m	17m	17m	17m	17m	17m	18m	21m	21m	20m	20m	20m	20m	19m	19m	20m	18m	18m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.