Core Insights - TruGolf Holdings, Inc. reported its third quarter 2025 results, highlighting a pivotal quarter with a focus on restructuring and growth potential for 2026 [3][5]. Financial Highlights - Revenue for Q3 2025 was $4.1 million, down from $6.2 million in Q3 2024, primarily due to changes in product license sales recognition [5][14]. - Gross margin improved to 69.3% in Q3 2025 from 69.1% in Q3 2024 and significantly up from 44.4% in Q2 2025 [4][5]. - The net loss for Q3 2025 increased to $7.3 million compared to a net loss of $0.06 million in Q3 2024, largely due to a non-cash loss of $6.1 million from extinguishing debt [5][14]. - Total liabilities decreased to $16.7 million from $21.8 million at year-end 2024, following the exchange of convertible notes into equity [5][7]. - Cash and cash equivalents increased by 30% to $11.4 million unrestricted and $13.5 million including restricted cash since December 31, 2024 [5][11]. Operational Highlights - The company completed its balance sheet restructuring and regained full NASDAQ compliance, positioning itself for growth in 2026 [3]. - Significant investments were made in product development, including new offerings like E6 APEX and the upcoming TruGolf Range platform [5][14]. - The company is advancing AI-driven analytics and commentary, powered by IBM watsonx.ai, which is expected to differentiate its software ecosystem [5]. Strategic Outlook - The CEO expressed confidence that the share price does not reflect the company's progress and future opportunities, anticipating renewed growth momentum in 2026 [3]. - The company is constructing a franchise and multi-bay facility model, with the first installation in Flower Mound, TX, serving as a blueprint for national rollout [5].