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Leading Gaming Accessory Maker Enters Two New Market Segments with the Groundbreaking Recon Controller and VelocityOne Flight Simulation Control System

WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Leading gaming accessory maker Turtle Beach Corporation (Nasdaq: HEAR) today announced its entry into two large and rapidly growing gaming accessory markets – game controllers and gaming simulation hardware. At E3 2021, the Company revealed two groundbreaking products developed under its best-selling Turtle Beach brand and provided details for the all-new Designed for Xbox Recon™ Controller and VelocityOne™ Flight simulation control system. Turtle Beach’s entrance into the controller and gaming simulation hardware markets present two major opportunities for the Company to expand its reach by leveraging its strong brand and reputation for creating high-quality gaming hardware. These new products will provide gamers and simulation fans with first-to-market features and innovations designed to elevate their experiences. The Recon Controller is the first to pair Turtle Beach’s signature audio technology with game-winning controls. VelocityOne Flight is the complete flight control system, developed in collaboration with aeronautical engineers and pilots to deliver the most immersive, authentic, and modern PC and Xbox flying experience on the market.



“We’re putting the same expertise and energy that’s made us the best-selling gaming headset maker for the past decade-plus into creating controllers and simulation hardware that benefits gamers with a better experience as we continue expanding our business to deliver on our long-term growth objectives,” said Juergen Stark, Chairman and CEO, Turtle Beach Corporation. “These two new accessory segments add another $1 billion of global addressable market, with third-party gamepad controllers at roughly $600 million, and PC/console flight simulation hardware adding roughly $400 million in global market. Both of these markets are growing rapidly, and our entrance with these first products will be the start of an expanding portfolio into other adjacent PC simulation hardware categories.”

Stark continued, “We’ve grown our award-winning ROCCAT PC accessory portfolio and revenues significantly since expanding into the PC category with that acquisition roughly two years ago. Given that success, the exciting portfolio of Neat Microphones launching this year, and this expansion into the large game controller and gaming simulation hardware markets, I expect we could approach – or even be over – $100 million in revenues outside our historical core console headset business next year.

“The Recon Controller lets gamers connect any wired 3.5mm gaming headset and provides exclusive Turtle Beach audio technology like our custom-tuned audio presets, and Superhuman Hearing™, which is our patented audio setting that helps you hear enemy players before they hear you, among other features. The Recon Controller is sleek, feels great in your hands, and is the perfect companion to the millions of Turtle Beach headsets being used by our fans playing on Xbox.”

Stark added, “Microsoft’s Flight Sim 2020 astonished gamers and flight sim fans alike with its stunning visual quality when it debuted on PC last year, and with the game coming to Xbox Series X|S this summer, we believe it will fuel a wider audience of gamers to explore flight simulation. As a pilot and flight sim enthusiast myself, after seeing the incredible visual realism of the game early last year and being very familiar with the existing hardware in the market, I knew we could design a better, more integrated and modern flight control product that flight sim enthusiasts would want. We hired a team with deep experience in flight sim hardware and developed a fully integrated system that works with Xbox and PC and provides everything a new flier needs, along with the capability and features that hardcore flight simmers want. For the great price of $349.95, there’s nothing else like it.”

Additional details on Turtle Beach’s all-new Recon Controller and VelocityOne Flight simulation control system below.

Turtle Beach Recon Controller

Designed for Xbox, the all-new Turtle Beach Recon Controller is the first controller to pair the brand’s signature audio innovations with game-winning controls. Gamers on Xbox Series X|S and Xbox One will be able to plug in any wired headset with a standard 3.5mm audio interface and take advantage of proven Turtle Beach features, including Superhuman Hearing®, Mic Monitoring, Signature Audio Presets, and more. Additionally, Pro-Aim™ Focus Mode lets users tune the thumbstick sensitivity for enhanced long-range accuracy, while up to four profiles can be saved on each of the rear quick-action buttons. Feel the recoil of gunshots and the purr of vehicle engines through next-gen vibration feedback from dual-rumble motors in the handles and triggers. The Recon Controller lets gamers play longer and stay cooler thanks to its ergonomic shape and cooling rubber grips. The Recon Controller will be available this summer for a MSRP of $59.95, and is the perfect companion for any wired gaming headset, like Turtle Beach’s all-new Recon 500.

VelocityOne Flight

Gamers looking for the ultimate flight simulator experience on Xbox Series X|S and Windows 10 PCs need look no further than the groundbreaking Turtle Beach VelocityOne Flight simulation control system. Designed for Xbox and developed in collaboration with aeronautical engineers and pilots, VelocityOne Flight offers intuitive and realistic controls and equips users across all experience levels with an all-inclusive system to experience the thrill of flight. A true-to-life 180° yoke handle with built-in rudder controls at your fingertips provide precise control of any aircraft. The included modular throttle quadrant with integrated trim wheel, both lever and vernier controls, and swappable lever handles offers at-home aviators enhanced customization and a realistic flight experience for both light and heavy aircraft. A simple USB connection offers users an easy setup process whether playing on an Xbox Series X|S console or Windows 10. VelocityOne Flight will launch this summer for a MSRP of $349.95.

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

About Turtle Beach Corporation

Turtle Beach Corporation (www.turtlebeachcorp.com) is one of the world’s leading gaming accessory providers. The Turtle Beach brand (www.turtlebeach.com) is known for pioneering first-to-market features and patented innovations in high-quality, comfort-driven headsets for all levels of gamer, making it a fan-favorite brand and the market leader in console gaming audio for the last decade. Turtle Beach’s ROCCAT brand (www.roccat.com) combines detail-loving German innovation with a genuine passion for designing the best PC gaming products. Under the ROCCAT brand, Turtle Beach creates award-winning keyboards, mice, headsets, mousepads, and other PC accessories. Turtle Beach’s Neat Microphones brand (www.neatmic.com) creates high-quality USB and analog microphones for gamers, streamers, and professionals that embrace cutting-edge technology and design. Turtle Beach’s shares are traded on the Nasdaq Exchange under the symbol: HEAR.

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 of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, 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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Contacts

North America
Eric Nielsen
Step 3 Public Relations
202.276.5357
eric@step-3.com

MacLean Marshall
Sr. Director, Public Relations &
Brand Communications
Turtle Beach Corporation
858.914.5093
maclean.marshall@turtlebeach.com

Europe
Jessica Albiston
Sr. Marketing Communications Manager
Turtle Beach Germany GMBH
jessica.albiston@turtlebeach.com

Keith Hennessey
Sr. Director, Communications &
Partnerships – International
Turtle Beach
+ 44 (0) 1256 678350
keith.hennessey@turtlebeach.com

Investor Information:
Cody Slach or Alex Thompson
Gateway Investor Relations
949.574.3860
hear@tgatewayir.com