NEWTON GOLF Company Provides Preliminary Financial Results for Third Quarter of 2024
NEWTON GOLF (NASDAQ: SPGC) released preliminary Q3 2024 financial results showing significant growth. Revenue reached $1,150,000-$1,250,000, representing a 1,163% increase from Q3 2023 ($95,000) and a 48% sequential increase from Q2 2024 ($813,000). Gross margin improved to 63-67% from 41% in Q3 2023. The company launched new Gravity Premium putters, expanded into Japanese retail locations with Newton Motion shafts, and increased professional adoption with 34 PGA TOUR Champions players now using their shafts. The company also completed a $732,000 public offering and introduced new performance shafts for higher swing speeds.
NEWTON GOLF (NASDAQ: SPGC) ha pubblicato i risultati finanziari preliminari del terzo trimestre 2024, evidenziando una crescita significativa. I ricavi sono stati compresi tra $1.150.000 e $1.250.000, rappresentando un aumento del 1.163% rispetto al Q3 2023 ($95.000) e un incremento sequenziale del 48% rispetto al Q2 2024 ($813.000). Il margine lordo è migliorato al 63-67% rispetto al 41% del Q3 2023. L'azienda ha lanciato i nuovi putter Gravity Premium, si è espansa nelle località di vendita al dettaglio giapponesi con gli alberi Newton Motion, e ha aumentato l'adozione professionale con 34 giocatori del PGA TOUR Champions che utilizzano i loro alberi. Inoltre, l'azienda ha completato un'offerta pubblica di $732.000 e ha introdotto nuovi alberi ad alte prestazioni per velocità di swing elevate.
NEWTON GOLF (NASDAQ: SPGC) publicó los resultados financieros preliminares del tercer trimestre de 2024, mostrando un crecimiento significativo. Los ingresos alcanzaron entre $1,150,000 y $1,250,000, lo que representa un aumento del 1,163% en comparación con el tercer trimestre de 2023 ($95,000) y un incremento secuencial del 48% respecto al segundo trimestre de 2024 ($813,000). El margen bruto mejoró al 63-67% desde el 41% en el tercer trimestre de 2023. La compañía lanzó nuevos putters Gravity Premium, se expandió a ubicaciones de venta al por menor en Japón con los ejes Newton Motion y aumentó la adopción profesional con 34 jugadores del PGA TOUR Champions ahora usando sus ejes. La compañía también completó una oferta pública de $732,000 e introdujo nuevos ejes de rendimiento para velocidades de swing más altas.
NEWTON GOLF (NASDAQ: SPGC)는 2024년 3분기 재무 결과를 발표하며 상당한 성장을 보여주었습니다. 수익은 $1,150,000에서 $1,250,000에 이르며, 2023년 3분기($95,000) 대비 1,163% 증가하였고, 2024년 2분기($813,000) 대비 48% 증가하였습니다. 총 이익률은 2023년 3분기의 41%에서 63-67%로 개선되었습니다. 회사는 새로운 Gravity Premium 퍼터를 출시하고, 일본 소매점으로 빈티지 수정 목재를 확장했으며, 34명의 PGA TOUR Champions 선수가 이들의 샤프트를 사용하는 등 전문 채택을 증가시켰습니다. 또한, 회사는 $732,000의 공모를 완료하고, 더 높은 스윙 속도를 위한 새로운 퍼포먼스 샤프트를 소개했습니다.
NEWTON GOLF (NASDAQ: SPGC) a publié les résultats financiers préliminaires du troisième trimestre 2024, montrant une croissance significative. Le chiffre d'affaires a atteint entre 1 150 000 $ et 1 250 000 $, représentant une augmentation de 1 163 % par rapport au troisième trimestre 2023 (95 000 $) et une augmentation séquentielle de 48 % par rapport au deuxième trimestre 2024 (813 000 $). La marge brute s'est améliorée à 63-67 % contre 41 % au troisième trimestre 2023. L'entreprise a lancé de nouveaux putters Gravity Premium, s'est étendue dans des points de vente au détail japonais avec des shafts Newton Motion, et a augmenté l'adoption professionnelle avec 34 joueurs du PGA TOUR Champions utilisant désormais leurs shafts. L'entreprise a également réalisé une offre publique de 732 000 $ et a introduit de nouveaux shafts de performance pour des vitesses de swing plus élevées.
NEWTON GOLF (NASDAQ: SPGC) veröffentlichte die vorläufigen Finanzzahlen für das dritte Quartal 2024 und zeigte ein signifikantes Wachstum. Die Einnahmen lagen zwischen $1.150.000 und $1.250.000, was einem Anstieg von 1.163 % im Vergleich zum dritten Quartal 2023 ($95.000) und einem sequenziellen Anstieg um 48 % im Vergleich zum zweiten Quartal 2024 ($813.000) entspricht. Die Bruttomarge verbesserte sich auf 63-67 % gegenüber 41 % im dritten Quartal 2023. Das Unternehmen brachte neue Gravity Premium Putter auf den Markt, erweiterte den Verkauf in japanischen Einzelhandelsgeschäften mit Newton Motion Schaft und verzeichnete eine größere professionelle Akzeptanz, da nun 34 PGA TOUR Champions Spieler ihre Schäfte verwenden. Das Unternehmen schloss zudem eine öffentliche Angebotsrunde über $732.000 ab und führte neue Leistungsschäfte für höhere Schwunggeschwindigkeiten ein.
- Revenue growth of 1,163% year-over-year to $1.15M-$1.25M
- Sequential revenue growth of 48% from Q2 2024
- Gross margin improvement to 63-67% from 41% in Q3 2023
- Expansion into 50 major Japanese retail locations
- Increased adoption by PGA TOUR Champions players (34 professionals)
- Dilution of shareholder value through $732,000 public offering
Insights
The preliminary Q3 results showcase remarkable growth with revenue projected at
The company's strategic positioning in the premium golf equipment segment is showing strong market penetration signals. The expansion into Japan's top 50 retail locations is particularly significant, as Japan represents the world's second-largest golf market with high-spending consumers. The rebranding initiative and launch of the Gravity Premium putter line diversifies revenue streams beyond their core shaft business. The increasing adoption by professional players creates valuable social proof and brand legitimacy in a market where professional endorsement significantly influences consumer behavior. The execution of successful digital campaigns coupled with product innovation suggests effective market positioning, though the company's small size means it's still competing against much larger, established brands.
CAMARILLO, CA, Oct. 28, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, reports preliminary financial results for the third quarter of 2024 (three months ended September 30, 2024) ahead of its quarterly filing.
Financial Highlights for Third Quarter 2024
- Revenue of
$1,150,000 –$1,250,000 in 3Q24, an increase of 1,163% at the midpoint of the range over$95,000 in 3Q23 and a sequential increase of48% at the midpoint of the range over$813,000 in 2Q24. - Gross margin of 63
-67% in 3Q24 was driven by increased volume in manufacturing and compares to41% in 3Q23. - Announced a complete rebranding of the Company.
- Launched the new Gravity Premium putter line with the introduction of five models.
- Expanded the Company’s global presence with the launch of the Newton Motion shafts in Japan in 50 of its largest golf retail locations.
- Closed on
$732,000 of underwritten public offering of shares of common stock. - Increased the number of professionals using the Newton Motion Shafts on the PGA TOUR Champions to 34, generating greater exposure.
- Executed successful digital campaigns.
- Introduced the new advanced performance shafts for higher swing speeds.
NEWTON GOLF Company Executive Chairman Greg Campbell commented, “Our third quarter was marked by continued momentum in the sales of our Newton Motion replacement driver shafts and the first full quarter of revenue from our fairway woods replacement shafts. The continued traction we are seeing from professional golfers, highlighted by 34 Champions TOUR players now using the Newton Motion shafts, gives us confidence that our technology-forward approach to design is the proper cornerstone of our product development strategy. Additionally, a recent launch of our putter line that now carries the NEWTON GOLF Gravity brand can potentially add to our growth trajectory.”
This press release contains preliminary estimated financial results for the quarter ended September 30, 2024, and may change as a result of management’s continued review. The preliminary financial information included in this press release reflects the Company's current estimates based on information available as of the date of this press release and has been prepared by Company management. This preliminary financial and operational information should not be viewed as a substitute for full financial statements and is not necessarily indicative of the results to be achieved for any future periods. This preliminary financial and operational information could be impacted by the effects of financial closing procedures, final adjustments, and other developments.
About NEWTON GOLF: A Sacks Parente Company
NEWTON GOLF: A Sacks Parente Company, is a technology-forward golf company that help golfers elevate their game. With a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, the Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts.
In consideration of its growth opportunities in golf shaft technologies, the Company expanded its manufacturing business in April of 2022 to develop the advanced Newton brand of premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth.
The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea.
For more information, please visit the Company’s website at www.newtongolfco.com or on social media at @newtongolfco.com, @newtonshafts, or @gravityputters.
Investor Contact for NEWTON GOLF
CORE IR
516-222-2560
investors@sacksparente.com
FAQ
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