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Rekor Systems vs Turtle Beach: revenue, profit, margins and growth compared

Rekor Systems brought in $48.5M of revenue in fiscal 2025, Turtle Beach $319.9M in fiscal 2025. Revenue changed by +5.3% at Rekor Systems and -14.2% at Turtle Beach on the year before, so Rekor Systems grew faster. Rekor Systems kept -64.9% of its revenue as net profit, Turtle Beach 4.9%. Free cash flow was -$22.9M at Rekor Systems and $34M at Turtle Beach.

Side by side, latest fiscal year

REKRTBCH
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$48.5M$319.9M
Revenue growth+5.3%-14.2%
Net income-$31.5M$15.7M
Net margin-64.9%4.9%
Free cash flow-$22.9M$34M
Free cash flow margin-47.3%10.6%
Earnings per share (diluted)-$0.26$0.77
Cash$16.6M$17M
Debt$15M$55.7M
Price to earningsn/a16.6
Market value$55.6M$228.2M
Dividend yieldn/an/a
Rank by revenue in sector#44 of 51 · Telecommunications#33 of 51 · Telecommunications

Over the years

Revenue
REKR FY2018: $20.1MREKR FY2019: $19.3MREKR FY2020: $9.2MREKR FY2021: $11.6MREKR FY2022: $19.9MREKR FY2023: $34.9MREKR FY2024: $46MREKR FY2025: $48.5MTBCH FY2018: $287.4MTBCH FY2019: $234.7MTBCH FY2020: $360.1MTBCH FY2021: $366.4MTBCH FY2022: $240.2MTBCH FY2023: $258.1MTBCH FY2024: $372.8MTBCH FY2025: $319.9MFY18FY19FY20FY21FY22FY23FY24FY25
REKR $48.5MTBCH $319.9M
Net income
REKR FY2018: -$5.7MREKR FY2019: -$15.9MREKR FY2020: -$14.2MREKR FY2021: -$26.8MREKR FY2022: -$83.1MREKR FY2023: -$45.7MREKR FY2024: -$61.4MREKR FY2025: -$31.5MTBCH FY2018: $39.2MTBCH FY2019: $17.9MTBCH FY2020: $38.7MTBCH FY2021: $17.7MTBCH FY2022: -$59.5MTBCH FY2023: -$17.7MTBCH FY2024: $16.2MTBCH FY2025: $15.7MFY18FY19FY20FY21FY22FY23FY24FY25
REKR -$31.5MTBCH $15.7M
Net margin
REKR FY2018: -28.4%REKR FY2019: -82.2%REKR FY2020: -153.6%REKR FY2021: -231.4%REKR FY2022: -417.2%REKR FY2023: -130.8%REKR FY2024: -133.4%REKR FY2025: -64.9%TBCH FY2018: 13.6%TBCH FY2019: 7.6%TBCH FY2020: 10.8%TBCH FY2021: 4.8%TBCH FY2022: -24.8%TBCH FY2023: -6.8%TBCH FY2024: 4.3%TBCH FY2025: 4.9%FY18FY19FY20FY21FY22FY23FY24FY25
REKR -64.9%TBCH 4.9%
Revenue growth
REKR FY2019: -3.7%REKR FY2020: -52.2%REKR FY2021: +25.4%REKR FY2022: +72.1%REKR FY2023: +75.4%REKR FY2024: +31.8%REKR FY2025: +5.3%TBCH FY2019: -18.4%TBCH FY2020: +53.5%TBCH FY2021: +1.7%TBCH FY2022: -34.4%TBCH FY2023: +7.5%TBCH FY2024: +44.4%TBCH FY2025: -14.2%FY19FY20FY21FY22FY23FY24FY25
REKR +5.3%TBCH -14.2%
Free cash flow
REKR FY2018: -$3.1MREKR FY2019: -$22.1MREKR FY2020: -$16.1MREKR FY2021: -$22.4MREKR FY2022: -$42.6MREKR FY2023: -$34MREKR FY2024: -$34.2MREKR FY2025: -$22.9MTBCH FY2018: $37.2MTBCH FY2019: $37.5MTBCH FY2020: $45.4MTBCH FY2021: -$5.9MTBCH FY2022: -$45.4MTBCH FY2023: $24.9MTBCH FY2024: $847KTBCH FY2025: $34MFY18FY19FY20FY21FY22FY23FY24FY25
REKR -$22.9MTBCH $34M

Fiscal years as each company reports them; the two may end in different months.

Questions about Rekor Systems and Turtle Beach

Which is bigger by revenue, Rekor Systems or Turtle Beach?

Turtle Beach is bigger by revenue: $319.9M in fiscal 2025, against $48.5M for Rekor Systems in fiscal 2025.

Which keeps more of its revenue as profit, Rekor Systems or Turtle Beach?

Rekor Systems had a net margin of -64.9% in fiscal 2025; Turtle Beach had 4.9% in fiscal 2025.

Which grew revenue faster, Rekor Systems or Turtle Beach?

In their latest fiscal years revenue changed by +5.3% at Rekor Systems and -14.2% at Turtle Beach.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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