TruGolf Holdings - TRUG STOCK NEWS

TruGolf Links, a franchise subsidiary of TruGolf Holdings, has announced a revolutionary hybrid golf simulator solution that combines virtual and physical golf experiences. Nexus Golf has made a strategic $2 million minority investment in TruGolf Links to support this initiative.

The patented technology, developed over five years, enables simulator technology integration on physical golf courses, allowing for night golf on full-length courses without extensive lighting requirements. This innovation aims to expand operating hours, leverage existing infrastructure, and create new revenue streams for golf course operators.

The first hybrid franchise location is expected to be operational by the end of 2025. TruGolf Links' expansion strategy focuses on Regional Developers who acquire territories of 1M+ population, establish flagship locations, and develop additional units through ownership or independent franchisees.

TruGolf Holdings (NASDAQ: TRUG) has announced an update to its 2024 guidance, significantly exceeding targets. The company expects 2024 sales to reach $22.5 million, with second half 2024 EBITDA projected to exceed $2.2 million, substantially above the previous target range of $1.1-1.5 million. Full-year 2024 EBITDA is expected to surpass $1.2 million.

Strong growth was driven by the launch of new games for TruGolf's Multisport Arcade, including Hoops, Quarterback, Cornhole, and Wild West Shootout. Additionally, the release of E6 APEX Course play, featuring over 1,200 courses in 4K with IBM watsonx.ai integration, boosted both hardware and software sales. The company plans to expand its franchise presence throughout 2025, with first locations expected to open by year-end.

TruGolf Holdings (NASDAQ: TRUG) has launched its portable Launch Monitor, LaunchBox, in the Canadian market. The device, which works both indoors and outdoors, uses high-speed camera technology to measure ball data and is compatible with PC and iOS devices.

LaunchBox integrates with TruGolf's new virtual golf software, E6 APEX, which features Club Fitting, Bag Mapping, and access to over 1,000 virtual golf courses. The software is built with IBM watsonx.ai and uses Machine Learning geospatial tools for accurate course recreation.

The system provides 12+ club and ball metrics, operates via 5Ghz Wi-Fi, and doesn't require specialty balls or marked clubs. This marks TruGolf's first entry into the high-volume/lower-price market segment, making professional-grade golf technology more accessible to all players.

TruGolf Holdings (NASDAQ: TRUG) has announced a strategic collaboration with D3 Sports Tech to enhance golf simulation experiences through skills-based wagering integration. The partnership aims to create more gamified experiences in TruGolf's ecosystem by implementing D3's Digital Wallet with Wagering as a Service, which operates in over 100 countries and is certified by Nevada and New Jersey gaming boards.

The collaboration will enable players to participate in various betting formats like 'Closest to the Pin' contests, Nassau, Skins, or Dots games, either locally or remotely. According to Golf Datatech, 84% of golfers are likely to wager on their own golf game while playing. Through D3ST's enterprise fintech solution, TruGolf can collect up to 15% game admin fee and enhance player engagement through cashless digital wallet transactions.

TruGolf Holdings (NASDAQ: TRUG) has launched its new virtual golf software, E6 APEX, integrating IBM’s watsonx.AI and Machine Learning tools. This innovative software accelerates golf course content creation, reducing the time from weeks to minutes. The software is available for over 20 Launch Monitor partners and includes professional tools for Club Fitting and Bag Mapping, along with 46 improvement challenges. E6 APEX features more than 1,000 playable virtual golf courses, with new releases monthly. The integration with GPS Maps and AI ensures high accuracy and visual quality. The software aims to enhance player feedback and offer individualized improvement plans and remote coaching. E6 APEX is available for download on select Launch Monitors and Golf Simulators.

TruGolf Holdings (NASDAQ: TRUG) reported strong Q3 2024 results with sales reaching $6.2M, up 82% YOY. The company achieved $1.1M EBITDA and $872K operating income in Q3. Gross margin improved to 69% from 55% YOY. The company secured commitments for 120 franchise locations across the US. Year-to-date improvements include reduced operating losses by 87%, decreased compensation expenses by $1.5M, and positive free cash flow of $3.1M compared to -$6.1M in 2023. The company revised its 2024 outlook, projecting 9-13% revenue growth and EBITDA between $1.1M-$1.5M for H2 2024.

TruGolf Holdings (NASDAQ: TRUG) has provided its financial outlook for the remainder of 2024, projecting strong revenue growth. The company expects total sales to increase by 8%-12% compared to 2023, with EBITDA exceeding $500,000 in the second half, marking a return to profitability. Growth drivers include new revenues from the TruGolf Links franchising business and market adoption of recently launched products. The company plans to release Q3 results in the first half of November 2024, supported by strengthened accounting staff including a new interim Comptroller.

TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading provider of golf simulation software and hardware, will be presenting at the 17th annual LD Micro Main Event on Wednesday, October 30th at 12:00 PM PT at the Luxe Sunset Boulevard Hotel. Brenner Adams, Chief Growth Officer, will represent the company.

The 2024 LD Micro Main Event XVII will run from October 28th to the 30th in Los Angeles. The event will feature approximately 150 companies presenting in half-hour increments and attending private meetings with investors. Registration begins at 3:00 PM PT on the 28th, followed by keynotes and happy hour. Presentations will run from 8:00 AM PT to 5:00 PM PT on the 29th and 30th.

Chris Lahiji, Founder of LD Micro, emphasized the event's significance for the industry and its role in shaping the future of small and micro-cap companies.

TruGolf Links Franchising, , owned by TruGolf Holdings, Inc. (Nasdaq: TRUG), has announced its second regional development deal. Entrepreneurs Bob Early and Ron Rzansa have secured rights to open 80 locations in the Chicago suburbs and northwest Indiana. The deal aims to aggressively expand TruGolf's presence in these markets.

TruGolf Links offers a comprehensive franchise program, including individual and regional developer opportunities. Each facility will feature TruGolf's simulator technology, with locations ranging from 3,800 to 5,000+ square feet. The company is focusing on Regional Developers who acquire territories of 1M+ population, open flagship locations, and develop additional units.

This expansion marks a significant step in TruGolf's growth strategy, as it continues to make golf more accessible through technology.