Core Insights - TruGolf Holdings, Inc. is a leading golf technology company that focuses on making golf easier through innovative technology solutions [2] - The company will be presenting at the "2025 Virtual Tech Conference" on June 4, 2025, highlighting its advancements in golf technology [1] Company Overview - TruGolf specializes in AI applications for content creation, image and spatial analysis, and gamified golf improvement plans, positioning itself as an industry leader in the technological revolution within golf [2] - The company's product suite includes hardware, software, and web products designed to enhance the golfing experience by making it easier to play, improve, and enjoy the game [2] Event Details - Brenner Adams, TruGolf's Chief Growth Officer, will present at the conference, which is organized by Maxim Group LLC and will be streamed live on M-Vest [1]

Group 1 - TruGolf Holdings, Inc. will present at the "2025 Virtual Tech Conference" on June 4, 2025, at 3:00 PM EDT [1] - The company is recognized as a leader in golf technology, focusing on AI applications, content creation, and spatial analysis to enhance the golfing experience [2] - TruGolf's product offerings include a suite of hardware, software, and web products designed to make playing, improving, and enjoying golf easier [2] Group 2 - The conference will be hosted by Maxim Group LLC and will be available live on M-Vest [1] - Interested participants can register for the event through a provided link [1] - For more information about TruGolf's products and innovations, the company encourages visiting their website [4]

Core Viewpoint - TruGolf Holdings, Inc. has received an extension from the Nasdaq Hearings Panel to comply with listing rules, with its listing moving to the Capital Market effective June 3, 2025 [1][2]. Company Overview - TruGolf is a leading golf technology company focused on making golf more accessible through innovative technology, including AI applications for content creation and spatial analysis [2]. - The company offers a range of products, including hardware, software, and web solutions, aimed at enhancing the golfing experience [2]. Management Statements - Chris Jones, the CEO of TruGolf, expressed satisfaction with the Panel's decision and emphasized the company's commitment to meeting Nasdaq's listing requirements [2]. - The company aims to achieve organic compliance with a share price of $1.00 to avoid a reverse stock split [2].

Core Viewpoint - TruGolf Holdings, Inc. has authorized a stock repurchase program of up to $2 million to enhance shareholder value [1][3]. Group 1: Stock Repurchase Program - The stock repurchase program will be executed until the expenditure of $2 million, or until it is terminated or completed [2]. - Purchases may occur through open-market transactions or other means as determined by management, adhering to SEC regulations [2]. - The timing and number of shares repurchased will depend on various factors including price, trading volume, and market conditions [2]. Group 2: Company Overview - TruGolf is a leading golf technology company focused on making golf more accessible through innovative technology [4]. - The company utilizes AI for content creation and spatial analysis, and offers gamified golf improvement plans [4]. - TruGolf's products include a suite of hardware, software, and web solutions aimed at enhancing the golfing experience [4].

Core Insights - TruGolf Links Franchising, a subsidiary of TruGolf Holdings, is expanding its franchise operations with over 160 units planned across multiple states, including Illinois, New Jersey, Tennessee, and New York [3][4] Company Overview - TruGolf has been a key player in the golf industry since 1983, focusing on innovative indoor golf solutions and technology to make golf more accessible [7] - The company aims to grow the game of golf by making it more available, approachable, and affordable through its products and services [7] Franchise Development - TruGolf Links Franchising has signed agreements for over 160 franchise units, with the first locations expected to open soon [3] - The franchise model includes Regional Developers who manage territories with populations of 1 million or more, opening flagship locations and supporting additional franchisees [8] Upcoming Events - TruGolf will showcase its latest technology at the New York International Franchise Expo on May 29, 2025, featuring a live simulator and a contest for attendees [2][4]

Core Viewpoint - TruGolf Holdings, Inc. is actively working to regain compliance with Nasdaq listing rules after being notified of non-compliance due to negative stockholders' equity of ($10,508,104) [1] Group 1: Compliance Plan - The company presented a plan to the Nasdaq Hearings panel on May 15, 2025, detailing steps to regain compliance and requested an extension to execute the plan [1] - A special meeting of shareholders is scheduled for May 30, 2025, to vote on actions related to the compliance plan [2] - The Hearings panel has not yet made a determination regarding the extension or potential delisting [1] Group 2: Financial Position - TruGolf has a strong cash position exceeding $10 million, which is deemed sufficient for current operating needs [2] - The company has entered into an Equity Line of Credit for $20 million to provide liquidity without reducing shareholder equity if additional funds are needed [7] - Approximately two-thirds of accrued dividends payable owed to the company's founders were converted to common stock [7] Group 3: Company Overview - TruGolf is a leader in golf technology, focusing on innovative uses of AI and gamified golf improvement plans [3] - The company aims to enhance the golfing experience through a suite of hardware, software, and web products [3]

Core Insights - TruGolf Holdings, Inc. reported a 7.5% increase in sales for Q1 2025, reaching $5.4 million compared to $5.0 million in Q1 2024, but net losses doubled to $2.6 million from $1.3 million in the previous year [1][2][3] - The company is focusing on new product introductions and addressing Nasdaq listing deficiencies, with a plan to reduce debt and increase shareholder equity [2][3] - Gross margin improved to 68.0% in Q1 2025 from 61.0% in Q1 2024, while operating expenses rose by 22.5% due to increased SG&A costs [2][3] Financial Performance - Revenue for Q1 2025 was $5,389,230, up from $5,012,022 in Q1 2024, with a gross profit of $3,663,031 compared to $3,052,999 in the prior year [9][10] - Loss from operations increased to $1,234,224 in Q1 2025 from $943,685 in Q1 2024, with total operating expenses rising to $4,897,255 from $3,996,684 [9][10] - Interest expense surged by $1.1 million due to the conversion of convertible notes, leading to a cash flow used in operations of approximately $0.5 million in Q1 2025, down from a generation of $2.7 million in Q1 2024 [3][11] Operational Developments - The company anticipates the opening of its first franchise locations within 90 days, along with the delivery of TruGolf hardware and software solutions [2] - Management is optimistic about the reception of new products expected to launch in the coming months [2] - Cash and cash equivalents increased to $12,615,820 by the end of Q1 2025, up from $10,882,077 at the beginning of the year [11]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________________________ to __________________________ Commission file number: 001-40970 TRUGOLF HOLDINGS, INC. (Exact name of registrant as specified in its c ...

Core Insights - TruGolf Links Franchising, LLC is expanding its franchise network by partnering with experienced entrepreneurs like Giovanni "Gio" Dinsay, who has a strong background in healthcare and wellness [1][2][4] - The company aims to transform the golf experience through high-tech indoor simulators that integrate recreation with health and wellness training [4][8] - TruGolf's mission is to make golf more accessible and affordable through innovative technology, with a focus on expanding its presence across the U.S. [8][9] Company Overview - TruGolf, Inc. has been a leader in the golf industry since 1983, known for its innovative indoor golf solutions and award-winning video games [8] - The company is committed to redefining golf technology and making the sport more available to a broader audience [8] Franchise Model - TruGolf Links is utilizing a regional developer model for its franchise expansion, allowing developers to build a network of franchise locations and participate in revenue generation [6][9] - Regional developers are required to open a flagship location in a territory with a population of 1 million or more and are compensated for attracting franchisees [9]

Core Viewpoint - TruGolf Holdings, Inc. has announced an agreement to convert all outstanding convertible notes into Series A Preferred Stock, aiming to improve its capital structure and reduce debt to comply with NASDAQ listing requirements [1][2]. Group 1: Financial Restructuring - The company will exchange all outstanding convertible notes for newly created Series A Preferred Stock, eliminating approximately $9.3 million in outstanding debt [1]. - Existing common stock warrants associated with the convertible notes will be exchanged for Series A Preferred Stock and additional warrants, potentially generating $15.1 million in gross proceeds if fully exercised [1]. - Founders of TruGolf will convert existing dividends owed to them into a mix of Class A and Class B common stock [1]. Group 2: Conditions and Approvals - The exchange of convertible notes and conversion to Series A Preferred Stock is contingent upon receiving shareholder approval, with a vote planned for the future [2]. Group 3: Company Background - TruGolf has been a key player in the golf industry since 1983, focusing on innovative indoor golf solutions and technology to make golf more accessible [4]. - The company aims to grow the game of golf by making it more available, approachable, and affordable through its products and services [4].