Turtle Beach Corporation

Welcome to the Turtle Beach third quarter 2023 conference call. My name is Michelle, 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 touchstone telephone. Delivering today's prepared remarks are 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 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, Michelle. On today's call, we will be referring to the press release filed this afternoon that details the company's third quarter 2023 results, which can be downloaded from the Investor Relations page at corpse.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 events and presentation 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 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 we will be discussing non-GAAP financial information. The company is providing that information as a supplement to information prepared for in accordance with accounting principles generally accepted in the United States, or GAAP. You can find a reconciliation of these metrics through 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 the management team will discuss shortly, we believe that today's results clearly point to a company now heading in the right direction. Our cost structure has improved dramatically in very short order. We have taken share in our core markets. We've grown share and outpaced category growth in other key markets, and our people and our products are winning. You will hear from Chris and John regarding the company's results and our improved forecast shortly, but first, a few comments regarding the previously announced permanent CEO search, and the Value Enhancement Committee's ongoing review. Firstly, as previously disclosed, the Board is conducting an extensive and well-organized search process for the permanent CEO position. Chris Kern, our long-time global head of sales, has served as our interim CEO since July 1st, and as you can see from our results, the Board's confidence in Chris's ability to lead in this transition time has been well-placed, and he remains a candidate for the permanent CEO position. The Board has met with several strong candidates, and we expect to conclude the CEO search ahead of our next earnings call, and we will notify the investment community at the appropriate time regarding the results of our comprehensive search. Next, I'd like to comment on the Value Enhancement Committee of the Board, which continues to review any and always the drive value for our shareholders and stakeholders in conjunction with the full Board and the management team. Significant progress has been made to date. The committee has been working closely with the company's new financial advisors since they were hired a number of months ago, and we continue to be encouraged with our progress. While we cannot provide any formal update at this time, the committee continues to be fully engaged and will notify the market once that process has concluded. While I'm proud of the progress to date, 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?