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Turtle Beach cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$7.3M in Q3 2026 · $40.8M over twelve months

Operating cash flow−$6.4M
Capital spending−$919K
Free cash flow−$7.3M
Cash / net income-1.5×
Cash conversion cycle99 days

Analysis

In Q3 2026, Turtle Beach generated −$6.4M of operating cash flow and spent $919K on capital projects, leaving free cash flow of −$7.3M. That is $8.5M more than in Q3 2025 (−$15.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was $42.8M; the largest uses were buybacks ($29.1M), net borrowing (+) / repaid (−) ($11.0M), capital spending ($2.0M); besides operations, cash came from shares issued ($505K); the cash balance fell by $1.1M.

Operating cash flow was −$6.4M against net income of $4.4M — -1.5× profit, less cash than reported earnings, worth checking against working capital. The largest differences: payables +$25.5M, inventory −$23.8M, receivables −$21.7M.

Its cash conversion cycle was 99 days (receivables 53 + inventory 114 − payables 68).

Free cash flow

Turtle Beach: free cash flow by quarterTurtle Beach: free cash flow by quarter$12.8MQ4 2024$40.3MQ1 2025−$3.5MQ2 2025−$15.9MQ3 2025$13.1MQ4 2025$29.1MQ1 2026$5.9MQ2 2026−$7.3MQ3 2026
Operating cash flow less capital spending.
Turtle Beach: operating cash flow against capital spendingTurtle Beach: operating cash flow against capital spendingOperating cash flowCapital spending$14.3M$1.5MQ4 2024$40.5M$166KQ1 2025−$3.1M$330KQ2 2025−$15.2M$673KQ3 2025$13.3M$250KQ4 2025$29.4M$276KQ1 2026$6.5M$572KQ2 2026−$6.4M$919KQ3 2026
Latest (Q3 2026): Operating cash flow −$6.4M, Capital spending $919K.

Capital allocation, year by year

Turtle Beach: where the cash came from (up) and went (down), by fiscal yearTurtle Beach: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$327KFY2021: Shares issued $5.3MFY2021: Capital spending −$5.6MFY2021: Acquisitions −$2.5MFY2021: Buybacks −$4.9M$5.3MFY2021FY2022: Operating cash flow −$41.8MFY2022: Net borrowing $19.1MFY2022: Shares issued $653KFY2022: Capital spending −$3.5M$19.7MFY2022FY2023: Operating cash flow $27.0MFY2023: Net borrowing −$19.1MFY2023: Shares issued $2.3MFY2023: Capital spending −$2.2MFY2023: Buybacks −$974K$29.3MFY2023FY2024: Operating cash flow $5.8MFY2024: Net borrowing $98.4MFY2024: Shares issued $3.4MFY2024: Capital spending −$4.9MFY2024: Acquisitions −$77.3MFY2024: Buybacks −$27.8M$107MFY2024FY2025: Operating cash flow $35.5MFY2025: Net borrowing −$13.3MFY2025: Shares issued $2.0MFY2025: Capital spending −$1.4MFY2025: Acquisitions $2.5MFY2025: Buybacks −$19.0M$40.0MFY2025
Over these 5 years operating cash flow totalled $26.1M; the largest uses were acquisitions ($79.8M) and buybacks ($52.6M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$11.2M
Debt$53.6M
Net debt$42.4M
Due within a year$1.2M

Turtle Beach funds itself: free cash flow was $40.8M over the last twelve months, and $11.2M of cash and investments stands against $53.6M of debt ($1.2M due within a year, 9.0× covered by cash).

Turtle Beach: debt maturities by year (FY2024)Turtle Beach: debt maturities by year (FY2024)$1.2MYear 1$2.3MYear 2$45.4MYear 3
Principal due in each year as disclosed in the annual report, against $11.2M of cash and investments now.

Where the cash came from and went

Turtle Beach: sources (+) and uses (−) of cash, Q3 2026Turtle Beach: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$8.4MOperating cash flow−$6.4MNet borrowing (+) / repaid (−)−$1.1MCapital spending−$919KOther financing−$170KShares issued$142KExchange rates$42K
Turtle Beach: sources (+) and uses (−) of cash, TTM to Q3 2026Turtle Beach: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$42.8MBuybacks−$29.1MNet borrowing (+) / repaid (−)−$11.0MCapital spending−$2.0MOther financing−$1.9MCash drawn (+) / kept (−)$1.1MShares issued$505KExchange rates−$271K

From profit to cash

Turtle Beach: net income to operating cash flow, Q3 2026Turtle Beach: net income to operating cash flow, Q3 2026Net income$4.4MDepreciation & amortization$700KStock-based pay$1.0MDeferred taxes−$338KReceivables−$21.7MInventory−$23.8MPayables$25.5MPrepaid and other assets$482KOther liabilities$6.7MIncome taxes payable−$1.3MOperating cash flow−$6.4M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026531146899
Q2 20265515964150
Q1 202611419567242
Q4 20255210646111
Q3 20255315774136
Q2 20256317887153
Q1 20259516183174
Q4 202452875188

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$6.4M−$919K——−$1.1M$142K$8.4M−$7.3M
Q2 2026$6.5M−$572K—−$25.0M−$54.6M$231K−$7.2M$5.9M
Q1 2026$29.4M−$276K—−$2.2M−$31.5M$43K$4.6M$29.1M
Q4 2025$13.3M−$250K—−$1.9M−$6.2M$89K−$4.7M$13.1M
Q3 2025−$15.2M−$673K—−$10.3M−$31.9M$1.8M−$552K−$15.9M
Q2 2025−$3.1M−$330K—−$5.0M$8.0M$107K−$21K−$3.5M
Q1 2025$40.5M−$166K$2.5M−$1.8M−$43.1M$5K$1.3M$40.3M
Q4 2024$14.3M−$1.5M—−$2.4M−$9.5M$352K$808K$12.8M

Turtle Beach: income statement and cash flow

Turtle Beach, Q3 2026: revenue $84.7M (+5% year over year), operating margin 6.9%. The chart follows the revenue to costs, profit and cash.

Turtle Beach: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.