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Composition of Certain Financial Statement Items | 12 Months Ended
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Dec. 31, 2024
Condensed Consolidated Balance Sheet Components [Abstract] |
Composition of Certain Financial Statement Items | Note 4. Composition of Certain Financial Statement Items Inventories Inventories consist of the following:
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | (in thousands) |
Finished goods |  | $ | 67,145 |  |  | $ | 43,579 |
Raw materials |  |  | 4,106 |  |  |  | 440 |
Total inventories |  | $ | 71,251 |  |  | $ | 44,019 |
One of the Company’s third-party logistics providers experienced a loss of Turtle Beach inventory during the fourth quarter of 2024 while in transit to one of the Company’s customers which impacted the result of operations for the twelve months ended December 31, 2024. The Company recorded the loss of inventory in the amount of $3.4 million within “Cost of revenue” on the consolidated statement of operations. Property and Equipment, net Property and equipment, net consists of the following:
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | (in thousands) |
Machinery and equipment |  | $ | 2,761 |  |  | $ | 2,597 |
Software and software development |  |  | 2,858 |  |  |  | 2,438 |
Furniture and fixtures |  |  | 1,679 |  |  |  | 1,700 |
Tooling |  |  | 14,062 |  |  |  | 11,250 |
Leasehold improvements |  |  | 2,323 |  |  |  | 1,988 |
Demonstration units and convention booths |  |  | 17,818 |  |  |  | 15,767 |
Total property and equipment, gross |  |  | 41,501 |  |  |  | 35,740 |
Less: accumulated depreciation and amortization |  |  | (35,657 | ) |  |  | (30,916 | )
Total property and equipment, net |  | $ | 5,844 |  |  | $ | 4,824 |
Depreciation and amortization expense on property and equipment for the years ended December 31, 2024, 2023 and 2022 was $4.4 million, $3.8 million and $4.6 million, respectively. Other Current Liabilities Other current liabilities consist of the following:
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | (in thousands) |
Accrued royalty |  | $ | 11,326 |  |  | $ | 5,275 |
Accrued tax-related payables |  |  | 7,123 |  |  |  | 5,206 |
Accrued employee expenses |  |  | 3,714 |  |  |  | 3,944 |
Accrued marketing |  |  | 3,045 |  |  |  | 3,335 |
Accrued freight |  |  | 1,635 |  |  |  | 2,917 |
Accrued expenses |  |  | 11,328 |  |  |  | 8,747 |
Term loan, short term |  |  | 1,250 |  |  |  | - |
Total other current liabilities |  | $ | 39,421 |  |  | $ | 29,424 |

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- Definition Condensed Consolidated Balance Sheet Components [Abstract] + References No definition available. + Details
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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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