NPD Says Sales Of Gaming Headsets Hit Record Levels For April - Turtle Beach Products Reach Record Retail Sales And Increased Share In April 2020

SAN DIEGO, May 26, 2020 /PRNewswire/ -- Last week the NPD Group released U.S. retail sales data showing record April 2020 results for the market and for leading gaming headset and accessory brand Turtle Beach (Nasdaq: HEAR). According to NPD Group, U.S. retail sales in the Accessories and Game Card category reached an all-time high, and U.S. retail sales in the same period for headsets significantly exceeded the previous high set in April 2018 during the onset of Fortnite mania. Similarly, Turtle Beach's April 2020 retail sales were more than double the brand's prior all-time high from April 2018.

Additional NPD Group April 2020 retail sales data highlights:

• All 7 top-selling headsets, and 8 of the top-10 best-selling headsets YTD in 2020 were from Turtle Beach.
• Turtle Beach's Recon 70 for Xbox One was the best-selling gaming headset by units for April 2020 and YTD in 2020.
• Turtle Beach's Stealth 600 for Xbox One continues to be the best-selling headset by revenue YTD in 2020.

"The strong sales trends we saw in March continued with April 2020 U.S. retail sales more than double our prior record April 2018, and more than triple the amounts of April 2019*," said Juergen Stark, CEO, Turtle Beach. "We believe that the combination of increased gaming activity, distance learning, and work-from-home continued to drive high levels of demand for headsets. Our ability to obtain greater capacity for both manufacturing and shipping, along with a further increase in market share have led to a very strong April for us."

Turtle Beach's Recon 70 has been a top performer since it launched last April and was just recently highlighted by IGN as the "Best Multiplatform Budget Gaming Headset of 2020." The latest Silver and Camo colorways make nine total Recon 70 options for gamers to choose from, each one delivering the immersive sound, lightweight comfort, and multiplatform compatibility that gamers expect.

Originally launched in 2017, Turtle Beach's wireless Stealth 600 gaming headsets deliver premium wireless surround sound on Xbox One and PS4™ at a great price. The Stealth 600 series has been lauded by consumers and press alike based on its wireless high-quality sound performance and comfort at its $99.95 MSRP, and Wired named both the Xbox One and PS4 versions as "Best Wireless Gaming Headsets" this past fall.

For more information on the latest Turtle Beach products and accessories, visit www.turtlebeach.com and be sure to follow Turtle Beach on Facebook, Twitter and Instagram.

About Turtle Beach Corporation
Turtle Beach (www.turtlebeach.com) is a leading gaming audio and accessory brand, offering a wide selection of cutting-edge, award-winning gaming headsets. Whether you're a professional esports athlete, hardcore gamer, casual player, or just starting out, Turtle Beach has the gaming headset to help you truly master your skills. Innovative and advanced technology, amazing high-quality gaming audio, crystal-clear communication, lightweight and comfortable designs, and ease-of-use are just a few features that make Turtle Beach a fan-favorite brand and market leader in console audio for 10 years running. In 2019 Turtle Beach acquired ROCCAT, a leading PC accessories brand that combines detail-loving German innovation with a genuine passion for designing the best PC gaming products. Under the ROCCAT brand, Turtle Beach provides award-winning keyboards and mice for PC gamers. Turtle Beach's shares are traded on the Nasdaq Exchange under the symbol: HEAR.

^*Source:  The NPD Group/Retail Tracking Service/Video Games/Dollars/U.S/April 2019 – March 2020; YTD April 2020 and April 2020

Cautionary Note on Forward-Looking Statements
This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Statements containing the words "may", "could", "would", "should", "believe", "expect", "anticipate", "plan", "estimate", "target", "goal", "project", "intend" and similar expressions, or the negatives thereof, constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management's current belief and expectations, as well as assumptions made by, and information currently available to, management.

While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, risks related to the substantial uncertainties inherent in the acceptance, and sales, of existing and future products of the Company, including Recon 70 and Stealth 600, general business and economic conditions, including the impact of the global COVID-19 pandemic on consumer demands and manufacturing, supply chain management and distribution capabilities, risks relating to and uncertainly caused by or resulting from, the COVID-19 pandemic, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions including the impact of coronavirus on consumer demands and manufacturing capabilities, risks associated with the expansion of our business including the integration of any businesses we acquire and the integration of such businesses within our internal control over financial reporting and operations, our indebtedness, the Company's liquidity, and other factors discussed in our public filings, including the risk factors included in the Company's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q,  and the Company's other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

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SOURCE Turtle Beach Corporation

Related Links

http://turtlebeach.com

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