Nlight vs Turtle Beach
Turtle Beach is the larger business, with $320m of revenue in fiscal 2025 against $261m for Nlight (1.2 times as much). Nlight grew faster (31.6% against -14.2%). Turtle Beach kept more of each dollar of sales as profit: a net margin of 4.9% against -9.0%.
| Latest fiscal year | NlightLASR, 2025 | Turtle BeachTBCH, 2025 |
|---|---|---|
| Revenue | $261m | $320m |
| Revenue growth | 31.6% | -14.2% |
| Net income | −$23.5m | $15.7m |
| Operating margin | -10.2% | — |
| Net margin | -9.0% | 4.9% |
| Return on equity | -10.6% | 12.6% |
| Free cash flow | $12.3m | $34.0m |
| Cash | $98.7m | $17.0m |
| Total debt | $40.0m | $85.1m |
| Debt to equity | 17.6% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | $19.0m |
| Employees | 800 | 290 |
| Market value | $2.11bn | $282m |
| Price vs our value range | — | Within our value range |
| Moat score | 16 (Weak) | 39 (Weak) |
| Insider trades, 12 months | 0 buys, 96 sales | 0 buys, 8 sales |