TruGolf Holdings, Inc. - TRUG STOCK NEWS

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.

TruGolf Links Franchising, , a subsidiary of TruGolf Holdings, Inc. (Nasdaq: TRUG), has signed its first regional development deal with New Jersey entrepreneur Nicholas Reimondo. The agreement grants Reimondo rights to open 40 TruGolf Links locations across Central and Northern New Jersey and Bucks County, Pennsylvania.

TruGolf Links offers a franchise program featuring state-of-the-art golf simulator facilities with five or more simulator bays, an upscale bar, dining area, and pro shop. The company is focusing on Regional Developers who acquire territories of 1M+ population, open flagship locations, and develop additional units.

This deal marks a significant step in TruGolf's expansion strategy, aiming to fuel the indoor golf simulator scene with modernized technology and make golf more accessible year-round.

TruGolf Holdings (Nasdaq: TRUG) has entered an exclusive multi-year licensing deal with Golf Blueprint. This partnership will integrate Golf Blueprint’s patent-pending technology into TruGolf's E6 APEX software, providing subscribers with structured lesson plans.

This technology leverages predictive analytics, learning theories, and performance psychology to optimize practice time and improve golf scores. Both companies aim to enhance user experience and performance through this collaboration.

TruGolf CEO Chris Jones and Golf Blueprint CEO Nico “Doc” Darras expressed their enthusiasm, highlighting the potential benefits for golfers worldwide.

TruGolf Holdings (Nasdaq: TRUG) has launched TruGolf Links Franchising, introducing a Regional Developer Model aimed at creating a network of retail golf and gaming locations. The model allows investors to own and operate a flagship location in territories with populations over 1 million, while also supporting independent franchisees. The initiative, supported by Franchise Well, offers multiple revenue streams and includes advanced Apogee hardware and E6 Apex software. TruGolf will showcase this initiative at the International Franchise Expo in New York City from May 30 to June 1, 2024. The first ten developers joining the Presidents Club will benefit from reduced fees and additional incentives.

TruGolf announced the appointment of Doug Bybee as Chief Revenue Officer on May 14, 2024. Doug Bybee brings over 30 years of experience in the golf equipment and technology industry. He has previously worked at Srixon, Cleveland Golf, Uneekor, Mizuno USA, Cobra Puma Golf, and Kellogg Company, holding various leadership positions. His expertise includes business strategy, sales, marketing, and distribution. CEO Chris Jones emphasized Doug's valuable industry knowledge and strategic alignment with TruGolf's expansion plans. Doug expressed enthusiasm for joining TruGolf and highlighted the company's leading golf technology products, including E6 APEX software and APOGEE features.