Turtle Beach Sees FY23 Revenue $265M-$270M Vs $270.29M Est.
Portfolio Pulse from Happy Mohamed
Turtle Beach (HEAR) maintains its FY23 revenue outlook of $265M-$270M, despite market estimates of $270.29M. The company expects 10-12% growth driven by the gaming markets. Adjusted EBITDA is expected to be $6M-$8M, with significant headwinds from competitive discounting and freight costs. The company has initiated efficiency measures that are expected to contribute to profitability, with a projected run-rate adjusted EBITDA of $25M-$30M by the end of 2023.
August 07, 2023 | 8:13 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Turtle Beach's FY23 revenue outlook is slightly below market estimates, which may negatively impact the stock. However, the company's efficiency measures and expected growth in the gaming markets could offset this.
While the FY23 revenue outlook is slightly below market estimates, which could negatively impact the stock, the company's efficiency measures and expected growth in the gaming markets could offset this. The company's initiatives for cost improvements and profitability are also positive signs.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100