Turtle Beach (TBCH) Cash Flow: Operating & Free Cash Flow

Turtle Beach Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Turtle Beach Corporation (TBCH) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Operating Activities
Net Income	15.73	16.18	-17.68	-59.55	17.72	38.75	17.94	39.19
Depreciation & Amortization	12.43	11.39	4.84	5.82	5.31	5.25	5.20	4.26
Deferred Income Tax	-0.12	-6.86	-0.04	6.20	1.12	0.47	-8.16	0.55
Stock Based Compensation	6.18	6.17	11.98	7.98	7.66	5.55	3.56	1.88
Change in Working Capital	-3.85	-31.31	26.37	-8.01	-30.24	-5.79	19.61	-21.76
Change in Accounts Receivable	17.09	-15.62	-5.76	-4.85	9.68	-1.76	9.93	-6.98
Change in Inventory	-0.98	-12.26	27.34	22.10	-32.24	-30.68	7.26	-25.39
Change in Accounts Payable	-9.96	-4.02	1.77	-23.35	-8.36	18.67	-0.39	4.10
Change in Other Working Capital	-10.00	0.59	3.01	-1.92	-1.74	7.97	2.81	6.51
Other Operating Activities	5.08	10.19	1.58	5.71	-1.74	6.83	1.22	18.13
Net Cash from Operating Activities	35.46	5.76	27.04	-41.85	-0.33	51.05	39.37	42.25
Investing Activities
Capital Expenditures	-1.42	-4.91	-2.16	-3.55	-5.62	-5.66	-1.91	-5.08
Acquisitions	-2.52	-77.29	0.00	0.00	-2.50	0.00	-12.67	0.00
Other Investing Activities	5.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Cash from Investing Activities	1.10	-82.21	-2.16	-3.55	-8.12	-5.66	-14.58	-5.08
Financing Activities
Debt Repayment	-15.61	98.37	-19.05	19.05	-120.86	-15.66	-21.73	-39.12
Common Stock Issued	1.99	0.00	0.00	0.00	5.29	4.37	0.00	0.00
Common Stock Repurchased	-18.97	-27.78	-0.97	0.00	-5.35	-0.33	-2.78	-0.25
Other Financing Activities	0.00	0.46	2.18	0.65	5.29	4.20	0.33	4.24
Net Cash from Financing Activities	-32.58	71.05	-17.85	19.71	-0.06	-7.41	-24.18	-35.13
Summary
Effect of Forex Changes on Cash	0.00	-0.34	0.29	-0.64	-0.46	0.46	0.56	-0.21
Net Change in Cash	3.97	-5.73	7.33	-26.32	-8.50	38.43	1.17	1.83
Cash at Beginning of Period	13.00	18.73	11.40	37.72	46.68	8.25	7.08	5.25
Cash at End of Period	16.96	13.00	18.73	11.40	37.72	46.68	8.25	7.08
Free Cash Flow	34.04	0.85	24.89	-45.40	-5.95	45.39	37.46	37.17
Supplemental Disclosures
Interest Paid	-	7.14	0.50	0.98	0.19	0.31	-	-
Income Taxes Paid	-	0.19	0.06	-2.38	6.56	8.04	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Turtle Beach Cash Flow

What is Turtle Beach's free cash flow?

Turtle Beach generated free cash flow of $34.04M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $35.46M minus $1.42M of capital expenditures. That was up 3918.8% from $847.00K a year earlier. Free cash flow equaled 10.6% of revenue.

How much does Turtle Beach spend on capital expenditures?

Turtle Beach spent $1.42M on capital expenditures in fiscal 2025, compared with $4.91M a year earlier. That equals 4.0% of operating cash flow.

Does Turtle Beach pay dividends or buy back shares?

Yes. In fiscal 2025 Turtle Beach returned $18.96M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition