Turtle Beach Corp (TBCH) has a new institutional ownership disclosure from 22NW Fund and related entities. As of the reported date, 22NW Fund directly holds 1,304,878 shares of Turtle Beach common stock, and 22NW, 22NW Fund GP, LLC, 22NW GP, Inc., and Aron R. English may be deemed to beneficially own these same shares through their investment and control relationships.
This position represents 7.29% of Turtle Beach’s outstanding common shares, based on 17,909,711 shares outstanding as of July 30, 2026, as reported by Turtle Beach. The reporting group states it has sole voting and dispositive power over these 1,304,878 shares and disclaims beneficial ownership of any shares not directly owned by each respective reporting person.
Turtle Beach Corp (TBCH) received an amended Schedule 13D/A (Amendment No. 3) from a group of investors led by DC VGA LLC and affiliated Diversis Capital entities, including Kevin Ma and Ron Nayot. The reporting persons now beneficially own 674,706 shares of Turtle Beach common stock, representing 3.8% of the outstanding shares, based on 17,909,711 shares outstanding as of July 30, 2026.
The filing details recent open-market sales of Turtle Beach stock by the reporting persons. On August 13, 2026 they sold 115,016 shares at a weighted average price of $12.9030 per share, and on August 14, 2026 they sold 19,438 shares at a weighted average price of $12.8507. Additional sales occurred on August 25, 26, and 27, 2026, including a sale of 769,102 shares on August 27, 2026 at a weighted average price of $12.9361 per share. The group reports sole voting and dispositive power over the 674,706 shares.
Turtle Beach Corp (TBCH) received a notice that director Andrew Wolfe plans to sell 2,500 shares of Turtle Beach common stock through Morgan Stanley Smith Barney LLC Executive Financial Services, with an aggregate market value of $31,250.00, on or around 08/21/2026 on NASDAQ under Rule 144. Wolfe previously sold 2,500 shares for $32,525.00 on 07/20/2026, 2,500 shares for $32,700.00 on 06/16/2026, 11,076 shares for $142,277.87 on 06/09/2026, and 5,193 shares for $67,606.11 on 06/03/2026. The shares were acquired upon vesting of restricted stock between 04/11/2019 and 04/01/2022.
DC VGA LLC, a majority-owned affiliate of Diversis Capital, reported open-market or private sales of Turtle Beach Corp common stock totaling 285,671 shares. The sales occurred on August 10, 11 and 12, 2026, including two blocks of 140,000 shares each at weighted average prices of $12.6961 and $12.6709 per share, and 5,671 shares at $13.00 per share. Footnotes state that the larger trades were executed in multiple transactions within price ranges of $12.5950–$13.4540 and $12.5700–$12.8000 per share and detail the ownership chain from DC VGA LLC up through Diversis Capital entities and individuals Kevin Ma and Ron Nayot.
DC VGA LLC and affiliated Diversis Capital entities and individuals updated their Schedule 13D for Turtle Beach Corporation. They report beneficial ownership of 1,775,441 shares of common stock, representing 9.9% of the class, based on 17,909,711 shares outstanding as of July 30, 2026.
On August 10, 2026, they sold 140,000 shares at a weighted average price of $12.6961, and on August 11, 2026, they sold 140,000 shares at a weighted average price of $12.6709. On August 12, 2026, they sold 5,671 shares at $13.00 in the open market. The amendment also notes that, on September 12, 2025, DC VGA LLC waived its rights under a Stockholder Agreement to appoint or replace an Investor Designee on Turtle Beach’s board, and requested the resignation of its then designee, Mr. Muscatel.
Turtle Beach Corp received an amended Schedule 13D from Hoak-affiliated entities reporting reduced ownership below the 5% threshold, constituting an exit filing. Based on 17,909,711 shares of common stock outstanding as of July 30, 2026, Hoak Public Equities, L.P. directly owns 741,459 shares, or 4.14%, with the same amount deemed beneficially owned by Hoak Fund Management, L.P. and Hoak & Co. The Hale/Hoak family and related entities hold additional smaller stakes: J. Hale Hoak is deemed to beneficially own 831,404 shares (4.64%), James M. Hoak, Jr. 761,459 shares (4.25%), the Hale Hoak Child's Trust 25,000 shares (0.14%), The Hoak Foundation 20,000 shares (0.11%), and DeeDee Hoak 1,000 shares (0.01%). The cost basis for HPE’s 741,459 shares is $9,236,510.79, funded from its working capital, with separate disclosed purchase amounts for the Child’s Trust, Hoak Foundation, J. Hale Hoak personally, and DeeDee Hoak.
Albert Rabil reports beneficial ownership of Turtle Beach Corporation common stock on an amended Schedule 13G. He reports beneficially owning 1,235,000 shares of common stock, representing 6.22% of the class. He has sole voting and sole dispositive power over all 1,235,000 shares and no shared voting or dispositive power.
Turtle Beach Corporation reported second-quarter 2026 net revenue of $56.4 million, roughly flat year over year, but its net loss widened to $7.3 million, or $0.38 per share, from $2.9 million, or $0.14 per share. Gross margin improved to 38.8% from 32.2%, helped by a $4.3 million tariff-related reduction to cost of revenue.
For the six months ended June 30, 2026, net revenue was $98.5 million, down 18.4% from $120.7 million, and net loss increased to $22.5 million from $3.6 million. Adjusted EBITDA was $1.3 million in Q2 but negative $5.2 million year to date, reflecting softer gaming accessory demand, higher operating costs and the absence of prior-year insurance recoveries, partially offset by tariff refunds.
Cash flow from operations remained strong at $35.9 million in the first half, with cash and cash equivalents at $19.6 million and inventories reduced to $56.5 million. The company refinanced its borrowings with an $85.0 million term loan maturing in 2029 at an 11.17% interest rate and an undrawn revolving credit facility with approximately $31.0 million of excess availability, while repurchasing 2.2 million shares for $27.2 million, reducing shares outstanding to 17.9 million.
Turtle Beach Corporation reported Q2 2026 results, with net revenue of $56.4 million versus $56.8 million a year earlier and a net loss of $7.3 million versus $2.9 million. Gross margin rose to 38.8%, a 660-basis-point improvement driven by tariff refunds received in the quarter.
The company generated $1.3 million of Adjusted EBITDA compared to a $3.0 million loss and produced $6.5 million of operating cash flow versus a $3.1 million outflow. It repurchased $25.0 million of common stock (2.0 million shares at $12.53) and refinanced its debt with an up to $80 million ABL facility and an $85 million term loan, replacing a $150 million agreement.
Net debt was $64.4 million at June 30, 2026, including $19.6 million of cash. Management reaffirmed full-year 2026 guidance for net revenue of $335–$355 million and Adjusted EBITDA of $44–$48 million, which it states represents 5–11% and 10–20% year-over-year growth.
Turtle Beach Corporation approved a new Executive Severance Policy on July 28, 2026. The policy covers the Chief Executive Officer and certain other executives and provides severance benefits if the company terminates an executive’s employment without Cause, conditioned on the executive signing a general release of claims.
On July 29, 2026, Turtle Beach entered into a separate Severance Agreement with Megan Wynne. Under this agreement, Wynne may receive severance benefits if the company terminates her without Cause or if she resigns for Good Reason. The Executive Severance Policy and the Wynne Severance Agreement are provided as Exhibits 10.1 and 10.2.