NEWTON GOLF Company Provides Preliminary Financial Results for Third Quarter of 2024

Financial Performance - Revenue for Q3 2024 is projected to be between $1,150,000 and $1,250,000, representing a significant increase of 1,163% at the midpoint compared to $95,000 in Q3 2023 and a sequential increase of 48% from $813,000 in Q2 2024 [2] - Gross margin for Q3 2024 is expected to be between 63% and 67%, an improvement from 41% in Q3 2023, driven by increased manufacturing volume [2] Product Development and Launches - The company announced a complete rebranding and launched the new Gravity Premium putter line, introducing five new models [2] - The company expanded its global presence by launching the Newton Motion shafts in Japan, available in 50 of its largest golf retail locations [2] - The introduction of advanced performance shafts for higher swing speeds was also noted [2] Market Engagement and Professional Adoption - The number of professionals using the Newton Motion Shafts on the PGA TOUR Champions increased to 34, enhancing brand exposure [2][3] - Successful digital marketing campaigns were executed to promote the company's products [2] Strategic Initiatives - The company closed a public offering of common stock, raising $732,000 [2] - Future expansions may include broadening product offerings through mergers, acquisitions, or internal developments [6] - The company aims to manufacture and assemble most products in the United States while expanding into golf apparel and other related product lines [5]