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Exhibit 99.1 TURTLE BEACH REPORTS SECOND HIGHEST THIRD QUARTER RESULTS IN COMPANY HISTORY Remains on Track to Deliver Year - over - Year Revenue Growth Following Record 2020 ; - Updates 2021 Outlook Due to Impact from Supply and Logistics Constraints White Plains , NY November 4 , 2021 – Leading gaming accessory maker Turtle Beach Corporation ( Nasdaq : HEAR ) , reported financial results for the third quarter and nine months ended September 30 , 2021 . Third Quarter 2021 Summary vs. Year - Ago Period : • Net revenue was $ 85.3 million compared to $ 112.5 million a year ago when the Company posted a historic 141 % increase ; • • . Net income was $ 2.6 million , or $ 0.14 per diluted share , compared to net income of $ 17.8 million , or $ 1.04 per diluted share ; Adjusted EBITDA was $ 6.7 million compared to $ 27.6 million ; Cash balance grew to $ 28.1 million compared to $ 27.3 million as of September 30 , 2020 . Nine Months Ended September 30 , 2021 Summary vs Year - Ago Period • • Net revenue was $ 256.9 million compared to $ 227.2 million ; Net income was $ 13.2 million , or $ 0.72 per diluted share , compared to $ 22.4 million , or $ 1.41 per diluted share ; Non - GAAP net income was $ 16.7 million , or $ 0.92 per diluted share , compared to $ 21.4 million , or $ 1.34 per diluted share ; Adjusted EBITDA was $ 27.0 million compared to $ 37.8 million . Management Commentary “ Our excellent third quarter results were the second highest third quarter in our history , only outdone by our extraordinary 140 % year - over - year growth in Q3 last year , and we're pleased to see our year - to - date revenues up 13 % as we remain on track to grow from our record year in 2020 , ” said Juergen Stark , CEO , Turtle Beach Corporation . “ These results reflect the continued strong demand for our products and successful expansion of our PC and other new categories , despite significant semiconductor constraints , particularly on our industry - leading wireless headsets , which we expect will hold back full year sales by an estimated $ 25 to 30 million . " " Console headsets continue to perform well , despite the worsening impact of industry - wide component availability , shipping delays and freight cost increases . While our team has expertly