Turtle Beach Corp., which makes gaming headsets and other headphones, revealed a second quarter net loss on Aug. 8, as well as plans to explore strategic options with its HyperSound line.

Shares of Turtle Beach (Nasdaq: HEAR) rose 8 percent, to $1.07, late in the trading day on Aug. 9.

The Scripps Ranch business reported a net loss of $42.6 million in the second quarter, or 86 cents per share, on net revenue of $29.4 million.

Contributing to the net loss were $45.6 million in operating expenses, most notably a $31.2 million non-cash goodwill charge related to HyperSound, which the company acquired two and a half years ago.

Revenue grew 30 percent over the same quarter last year, when Turtle Beach reported net revenue of $22.6 million. Net loss in the quarter was $9.9 million, or 23 cents per share.

Turtle Beach said it has hired Piper Jaffray & Co. to explore strategic options for its HyperSound business.

"Since acquiring HyperSound two and a half years ago, it has become abundantly clear that the technology provides superior audio solutions across a growing range of applications,” CEO Juergen Stark said in a prepared statement. "The initial product, focused on the hearing health market, has achieved a high sales conversion rate among consumers who visit an audiologist’s office for a demonstration, but that channel will require significantly more resources and time to scale than we anticipated.

“While we remain convinced that there are significant opportunities for the healthcare product, as well as the underlying HyperSound technology, the level of capital requirements to fully pursue those opportunities exceed our current resources.”

Separately, Stark said he believed the company was in a good position as the important holiday gift-giving season approaches.

The company reported $41.5 million in outstanding debt principal as of June 30. Strong sales during the 2015 holiday season and a follow-on offering of stock in February helped drive the principal down from its Dec. 31 level of $68.1 million.

Over the last 52 weeks, shares of Turtle Beach have traded in the range of 83 cents to $3.72.