Turtle Beach Corporation (TBCH) Q4 2024 Earnings Call Transcript


Turtle Beach Corporation (NASDAQ:TBCH) Q4 2024 Results Conference Call March 13, 2025 5:00 PM ET

Company Participants

Jacques Cornet – ICR
Cris Keirn – Chief Executive Officer
Mark Weinswig – Chief Financial Officer

Conference Call Participants

Sean McGowan – ROTH Capital Partners
Jack Vander Aarde – Maxim Group
Martin Yang – Oppenheimer

Operator

Greetings, and welcome to the Turtle Beach Fourth Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to introduce Jacques Cornet with ICR. Please go ahead.

Jacques Cornet

Thank you, operator. On today’s call, we’ll be referring to the press release filed this afternoon that details the company’s fourth quarter and year-end 2024 results. The release is available on the Press Releases page of the company’s Investor Relations website, corp.turtlebeach.com. There, you’ll also in the latest earnings presentation that supplements the information discussed on today’s call. And finally, a recording of the call will be available on the Events and Presentations section of the company’s Investor Relations website later today.

Please be aware that some of the comments made during this call may include forward-looking statements within the meaning of the federal securities laws. Statements about the company’s beliefs and expectations containing words such as may, will, could, believe, expect, anticipate and similar expressions constitute forward-looking statements. These statements involve risks and uncertainties regarding the company’s operations and future results that could cause Turtle Beach Corporation’s results to differ materially from management’s current expectations. While the company believes that its expectations are based upon reasonable assumptions, numerous factors may affect actual results and may cause results to differ materially so the company encourages you to review the safe harbor statements and risk factors contained in today’s press



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The Pentagon has initiated an investigation incorporating polygraph tests to hunt down leakers after Elon Musk called for the prosecution of any Defense Department officials spreading “maliciously false information” about his dealings with the military.

In response to accusations surrounding Musk’s recent visit to the Pentagon, Defense Secretary Pete Hegseth’s chief of staff, Joe Kasper, called for an investigation into “unauthorized disclosures” of national security information with those found responsible to “be referred to the appropriate criminal law enforcement entity for criminal prosecution.”

Musk, the world’s richest man with billions of dollars in defense contracts, visited the Pentagon on Friday for a conversation about cost-cutting and innovation. The visit sparked controversy before it began after the New York Times reported that Musk was to get a top secret briefing about the US military’s planning for any potential war with China.

The Times, which cited multiple unidentified US officials familiar with the matter, said Musk was scheduled to view sensitive U.S. military strategies concerning China, potentially exposing critical Pentagon secrets given Musk’s substantial business interests there. Musk’s views on China have also provoked concern. He’s called Taiwan “an integral part of China” and once suggested that the self-ruled island become an administrative zone of the country.

Both President Donald Trump and defense chief Hegseth denied there were ever any plans for Musk to get such a high-level briefing. In the Oval Office on Friday, Trump acknowledged Musk’s potential conflict when he explained why he’d never give him such a briefing.

Further intensifying the scrutiny, Musk took to X, a social media platform he owns, insisting on the prosecution of Pentagon officials leaking misleading information to the media.

Hegseth has been one of the most vocal champions of Musk’s Department of Government Efficiency, boasting of hundreds of millions of dollars in spending cuts done in collaboration with DOGE staffers. 

The investigation into leaks “will commence immediately and culminate in a report to the Secretary of Defense,” Kasper wrote in a memo issued late on March 21. “The report will include a complete record of unauthorized disclosures within the Department of Defense and recommendations to improve such efforts.”

This story was originally featured on Fortune.com



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