Turtle Beach Corporation

Welcome to the Turtle Beach second quarter 2023 conference call. My name is Gigi, and I'll 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, Interim Chief Executive Officer and Senior Vice President of Global Sales, Chris Kern, and Chief Financial Officer, John Hanson. Following the prepared remarks, the management team will open the call up for any questions. As a reminder, this 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 second 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 current expectations. While the company believes that its 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. And now I'll turn the call over to Terry Jimenez, the company's chairman of the board.

Thank you, Alex. I'm excited to be here today and I'm very pleased with our board and the management team's recent progress, energy and focus. As previously disclosed, the board is conducting an extensive and well-organized search process for the permanent CEO position. We are focused on finding and appointing the best possible CEO for Turtle Beach shareholders and the board is moving forward with discipline urgency. While the search is ongoing, we are pleased to have Chris Kern, our longtime global head of sales, serving as our interim CEO. Since Chris's appointment effective July 1st of 2023, the board has worked extensively with Chris regarding the path forward and we have full confidence in his ability to lead the company during this transition. We will provide an update at the conclusion of the CEO search process. Next, I'd like to briefly comment on the Value Enhancement Committee of the Board, which continues to review any and all ways to drive value for our shareholders and stakeholders in conjunction with the full board and the management team. Significant progress has been made to date, and the work of this committee, the management team, and the full board has given me a significant amount of optimism for the potential of Turtle Beach. We have engaged a new financial advisor at Jefferies, And while we are encouraged by the early engagement in that process, we do not have a formal update at this time. While I'm proud of the progress today, our work is not done and we will continue to drive a clear path to near and long-term value creation. We look forward to sharing more developments at the appropriate time, and we appreciate your investment and support of Turtle Beach. I believe that the prospects and potential for Turtle Beach continues to get stronger every day. With that, I will hand it over to Chris Kern, our interim chief executive officer. Chris.