Turtle Beach Corp., a San Diego-based video game headset maker, reported net revenue of $24 million in the first quarter of 2016, up 22 percent from the same time last year, much of which the company attributes to headset sales.
Headset net revenue was up 21 percent to $23.7 million.
Turtle Beach’s higher margin new-gen headset sales, both domestically and in Europe, contributed 86 percent of revenues this quarter compared to the first quarter of last year.
With the launch of its Elite Pro gaming headset this summer and with OpTic Gaming, an eSports team, selecting the product as its official gaming audio gear of choice, the company said it expects continued growth in headset revenue and profitability.
Net loss in the first quarter rose from $10.6 million last year to $12 million this year.
The company increased its expectations for net revenue for the full year of 2016 to between $165 million and 175 million.