Turtle Beach Corporation

Welcome to the Turtle Beach first quarter 2023 conference call. My name is Lateef, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session. During the question and answer session, if you have a question, please press star 1 1 on your touchtone phone. Delivering today's prepared remarks are non-executive chairman of the board, Terry Jimenez, Chief Executive Officer, Juergen Stark, and Chief Financial Officer, John Hanson. Following their prepared remarks, the management team will open the call up for any questions. As a reminder, the conference is being recorded. I will now turn the call over to Alex Thompson from Investor Relations. Alex, you may begin.

Thank you, Operator. On today's call, we will be referring to the press release filed this afternoon that details the company's first quarter 2023 results, which can be downloaded from the investor relations page at corp.turtlebeach.com, where you'll also find the latest earnings presentation that supplements the information discussed on today's call. Finally, a recording of the call will be available on the investor section of the company's website later today. Please be aware that some of the comments made during this call may include forward-looking statements within the meaning of the federal securities laws. Statements about the company's beliefs and expectations containing words such as may, will, could, believe, expect, anticipate, and similar expressions constitute forward-looking statements. These statements involve risks and uncertainties regarding the company's operations and future results that could cause Turtle Beach Corporation's results to differ materially from management's current expectations. While the company believes that it's Expectations are based upon reasonable assumptions. Numerous factors may affect actual results and may cause results to differ materially, so the company encourages you to review the safe harbor statements and risk factors contained in today's press release and in its filings with the Securities and Exchange Commission, including, without limitation, its annual report on Form 10-K and other periodic reports which identify specific risk factors that also may cause actual results or events to differ materially from those described in our forward-looking statements. The company does not undertake to publicly update or revise any forward-looking statements after this conference call. The company also notes that on this call, it will be discussing non-GAAP financial information. The company is providing that information as a supplement to information prepared in accordance with accounting principles generally accepted in the United States or GAAP. You can find a reconciliation of these metrics to the company's reported GAAP results in the reconciliation tables provided in today's earnings release and presentation. The company, its directors, and certain of its executive officers are participants in the solicitation of proxies from the company shareholders in connection with its 2023 annual meeting. The company intends to file a definitive proxy statement and a white proxy card with the SEC in connection with any such solicitation of proxies. Shareholders are strongly encouraged to read the proxy statement accompanying proxy card and all the other documents filed with the SEC carefully and in their entirety when they become available, as they will contain important information, including information regarding the identity of the participants in the solicitation and their direct and indirect interest by security holdings or otherwise. Next, we'll get a statement from Terry Jimenez, the company's non-executive chairman of the Board of Directors.

Thanks, Alex, and good afternoon, everyone. I'm pleased to make a statement on the call this afternoon to briefly cover our CEO transition plan and governance actions. all of which was announced in a press release earlier this week on Monday, May 1st. The board has taken a series of actions consistent with its commitment to acting in the best interest of its shareholders and ensuring best-in-class governance practices. From this, the board has implemented a CEO succession plan with a transition date of June 30th, 2023. We've separated the chairman and CEO roles going forward. I was elected as the new independent chairman. accepted the decision by two long-tenured directors, Juergen Stark and William Keitel, to not stand for reelection at the 2023 annual stockholder meeting. The Board intends to appoint a shareholder representative in Mr. Keitel's place to be nominated for election at the 2023 annual meeting. The Board reorganized the composition of the Board committees, including new committee chairs, notably all whom are women. And importantly, the board continues to be focused on value-enhancing or strategic actions that would be in the interest of all shareholders. Further details of our announcement can be found in our separate release referenced earlier. On behalf of the board of directors, I want to thank Juergen for his leadership over the past 10 years. He has overseen the company's transformation into a leading accessory maker poised for growth across valuable gaming categories. I also want to thank Bill Keitel for his many years of service and contributions as a director. Finally, I am honored to take on the role of board chair and to continue working closely with my fellow board members and management to engage with and enhance value for all Turtle Beach shareholders. I believe there is significant value and upside for the company and its shareholders, and I look forward to working with the team and the board to unlock that upside value. With that, I will pass it over to Jurgen to cover the first quarter's results.