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Newton Golf Company to Present at the ArcStone-Kingswood Growth Summit 2025
Newsfile· 2025-09-16 11:00
Core Viewpoint - Newton Golf Company is set to present at the ArcStone-Kingswood Growth Summit 2025, highlighting its strong financial performance and growth outlook in the golf technology sector [1][3][4]. Company Overview - Newton Golf Company (NASDAQ: NWTG) is a technology-driven golf company focused on performance innovations through physics-based engineering [1][5]. - The company's flagship products, the Motion and Fast Motion shafts, are recognized for their improvements in stability, control, and consistency, and are used by Tour professionals globally [5]. Event Details - The ArcStone-Kingswood Growth Summit 2025 will take place on September 18, 2025, at The St. Regis Toronto, featuring presentations, fireside chats, and one-on-one meetings aimed at fostering connections between growth companies and investors [2][7]. - Newton Golf's presentation will be part of the Digital Transformation & Frontier Tech sector track, featuring remarks from CEO Greg Campbell and CFO Jeff Clayborne [3][4]. Management Insights - CEO Greg Campbell expressed excitement about sharing the company's story, emphasizing strong first-half performance, growing validation on Tour, and rapid new product adoption as key factors for long-term growth potential [4].
TruGolf Reports Second Quarter 2025 Financial Results Q2 2025 Sales Grow 11.3% Over Q2 2024
Globenewswire· 2025-08-20 20:05
Core Insights - TruGolf Holdings, Inc. reported second quarter 2025 sales of $4.3 million, an increase of 11.3% from $3.9 million in the same period of 2024 [1] - The company experienced a net loss of $3.3 million in Q2 2025, compared to a net loss of $1.6 million in Q2 2024, primarily due to increased professional fees and interest expenses [1][3] - The CEO highlighted the successful compliance with Nasdaq listing standards and expressed optimism for operational improvements in the latter half of the year [2] Financial Performance - Sales for the first half of 2025 reached $9.7 million, a 9% increase from $8.9 million in the first half of 2024 [3] - Gross margin for Q2 2025 was 44.4%, down from 66.4% in Q2 2024, affected by $0.9 million in inventory write-downs [3] - Operating expenses increased by 13% in Q2 2025, driven by higher marketing costs and professional fees related to Nasdaq compliance [3][4] Operational Developments - The company launched US sales of its Launchbox monitor in July 2025, with promising initial results [2] - The first TruGolf Links franchise opened in Chicago on July 29, 2025, with plans for a larger flagship location in Q4 2025 and more franchises in 2026 [2] - The company took non-cash charges related to inventory adjustments and costs associated with the TruTrack product during the quarter [2] Debt and Interest Expenses - Interest expense for Q2 2025 rose by $0.7 million, with a total increase of $1.8 million for the first half of 2025, attributed to amortization of debt discounts and related expenses [4] - The company has significantly reduced its debt load, which is expected to contribute to operational improvements [2] Balance Sheet Highlights - As of June 30, 2025, total assets were $24.36 million, up from $17.14 million at the end of 2024 [8] - Current liabilities increased to $18.17 million from $15.78 million at the end of 2024, reflecting higher accounts payable and deferred revenue [9] - Stockholders' equity improved to $4.31 million from a deficit of $4.64 million at the end of 2024 [9]
TruGolf Announces it is Compliant with Nasdaq Listing Rules
Globenewswire· 2025-08-05 12:30
Core Points - TruGolf Holdings, Inc. has regained compliance with Nasdaq's listing rules and will be under a Mandatory Panel Monitor for one year [1][2] - CEO Chris Jones expressed gratitude towards employees and advisors for their support during this challenging period and looks forward to sharing operating results soon [2] Company Overview - TruGolf has been a key player in the golf industry since 1983, focusing on innovative indoor golf solutions [1] - The company's mission is to make golf more available, approachable, and affordable through technology, believing that golf is for everyone [1] - TruGolf has developed award-winning video games, innovative hardware solutions, and a new e-sports platform to connect golfers globally [1]
TruGolf Announces Grand Opening of First TruGolf Links Franchise Location in Illinois
Globenewswire· 2025-07-21 20:05
Core Viewpoint - TruGolf Holdings, Inc. is set to open its first franchise location in Manteno, Illinois on July 29, 2025, marking a significant milestone in its franchise expansion strategy [1][2]. Company Overview - TruGolf is a leading golf technology company established in 1983, focused on innovative indoor golf solutions and enhancing the accessibility of golf through technology [5]. - The company aims to grow the game of golf by making it more available, approachable, and affordable, believing that golf is for everyone [5]. Franchise Development - The franchise concept, TruGolf Links, was launched approximately 14 months ago, and the company currently has over 160 units in development across four states [2]. - The first franchise location will feature four TruGolf Premium Simulators and a TruGolf Multi-sport Arcade, although it will not provide food and beverage services [1][2]. - Additional franchise locations are anticipated to open starting in the fourth quarter of 2025, with an accelerated pace expected in 2026 [2]. Community Engagement - The opening event will include remarks from key figures such as Dr. Ben Litalien, Chief Development Officer, and the Mayor of Manteno, Annette LaMore, highlighting the community involvement [4]. - The franchise aims to provide a recreational and training facility that leverages TruGolf's 40 years of technical expertise, catering to both golfers and non-golfers through various entertainment options [4]. Regional Development Strategy - TruGolf Links Franchising focuses on regional developers who will acquire territories with populations of 1 million or more, opening flagship locations and developing additional units [6]. - Regional developers are compensated for attracting franchisees and providing local support to all TruGolf Links locations within their territory [6].
TruGolf Announces Portable Launch Monitor, LaunchBox, Available Globally on July 1st
Globenewswire· 2025-06-30 12:15
Core Insights - TruGolf Holdings, Inc. is launching its new portable launch monitor, LaunchBox, globally on July 1, 2025, which aims to provide professional-grade accuracy at an accessible price point for golfers worldwide [1][4][8] Product Features - LaunchBox utilizes advanced hyper-speed camera technology to measure over 12 key shot metrics without the need for special balls or calibration, making it user-friendly for various environments [8] - The product is fully integrated with E6 APEX, offering features such as club fitting, access to over 1,500 virtual golf courses, gamified practice challenges, and broadcast-quality commentary powered by IBM watsonx.ai [6][7] Market Positioning - The launch of LaunchBox marks TruGolf's entry into the $300 million portable launch monitor market, targeting millions of home users and driving range regulars [4][5] - Priced at $2,200, LaunchBox is designed to be affordable for everyday golfers while maintaining the accuracy and realism that TruGolf is known for [8] Strategic Partnerships - The product enhances TruGolf's digital ecosystem through subscription-based software and strengthens its partnership with IBM, leveraging IBM watsonx.ai for smarter golf experiences [5]
TruGolf Announces Acquisition of mlSpatial
Globenewswire· 2025-06-11 12:30
Core Insights - TruGolf Holdings, Inc. has announced the acquisition of mlSpatial, an AI and machine learning engineering firm, to enhance its product offerings in golf technology [1][2][3] - The acquisition follows a successful partnership that began in March 2024, focusing on co-developing an AI engine for TruGolf's Apogee Launch Monitor [2] - This strategic move aims to integrate advanced AI technologies across TruGolf's product suite, improving user experiences and training suggestions [2][3] Company Overview - TruGolf is recognized as a leader in golf technology, committed to simplifying the game through innovative AI applications and gamified improvement plans [5] - The company has a history of redefining golf through technology, offering a comprehensive suite of hardware, software, and web products [5] Industry Context - The acquisition aligns with a broader industry trend of significant investments in AI infrastructure, highlighted by a recent initiative from President Donald Trump to invest up to $500 billion in AI technologies in the U.S. [3]
TruGolf to Participate in the “2025 Virtual Tech Conference: Discover the Innovations Reshaping Tomorrow” Conference Presented by Maxim Group LLC on Wednesday, June 4th at 3:00 PM EDT - (Updated)
Globenewswire· 2025-06-04 02:55
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]
TruGolf to Paricipate in the “2025 Virtual Tech Conference: Discover the Innovations Reshaping Tomorrow” Conference Presented by Maxim Group LLC on Wednesday, June 4th at 3:00 PM EDT
Globenewswire· 2025-06-03 22:58
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]
TruGolf Announces Listing Extension from Nasdaq
Globenewswire· 2025-06-02 12:30
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].
TruGolf Announces Stock Repurchase Program
Globenewswire· 2025-05-29 16:45
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].