TruGolf 2024 Guidance Update
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) ha annunciato un aggiornamento delle sue previsioni per il 2024, superando significativamente gli obiettivi. L'azienda prevede che le vendite del 2024 raggiungeranno i 22,5 milioni di dollari, con un EBITDA previsto per il secondo semestre del 2024 che supererà i 2,2 milioni di dollari, ben al di sopra dell'intervallo di obiettivi precedentemente fissato tra 1,1 e 1,5 milioni. Si prevede che l'EBITDA per l'intero anno 2024 supererà i 1,2 milioni.
Crescita forte è stata guidata dal lancio di nuovi giochi per il Multisport Arcade di TruGolf, tra cui Hoops, Quarterback, Cornhole e Wild West Shootout. Inoltre, il rilascio del gioco E6 APEX Course, con oltre 1.200 corsi in 4K e integrazione con IBM watsonx.ai, ha aumentato le vendite sia di hardware che di software. L'azienda prevede di espandere la sua presenza in franchising nel 2025, con le prime aperture attese entro la fine dell'anno.
TruGolf Holdings (NASDAQ: TRUG) ha anunciado una actualización de su guía para 2024, superando significativamente las metas. La compañía espera que las ventas de 2024 alcancen los 22,5 millones de dólares, con un EBITDA proyectado para la segunda mitad de 2024 que superará los 2,2 millones, muy por encima del rango objetivo anterior de 1,1 a 1,5 millones. Se espera que el EBITDA del año completo 2024 supere los 1,2 millones.
Un fuerte crecimiento fue impulsado por el lanzamiento de nuevos juegos para el Multisport Arcade de TruGolf, incluidos Hoops, Quarterback, Cornhole y Wild West Shootout. Además, el lanzamiento de E6 APEX Course, que presenta más de 1,200 cursos en 4K con integración de IBM watsonx.ai, impulsó tanto las ventas de hardware como de software. La compañía planea expandir su presencia de franquicia a lo largo de 2025, con las primeras ubicaciones previstas para abrirse a finales de año.
TruGolf Holdings (NASDAQ: TRUG)는 2024년 전망에 대한 업데이트를 발표하며 목표치를 크게 초과했습니다. 회사는 2024년 매출이 2,250만 달러에 이를 것으로 예상하며, 2024년 하반기 EBITDA는 220만 달러를 초과할 것으로 예상되며, 이는 이전 목표 범위인 110만~150만 달러를 훨씬 초과하는 수치입니다. 2024년 전체 연도 EBITDA는 120만 달러를 초과할 것으로 예상됩니다.
강력한 성장은 TruGolf의 멀티스포츠 아케이드용 새로운 게임 출시, 즉 Hoops, Quarterback, Cornhole 및 Wild West Shootout에 의해 촉진되었습니다. 또한, 4K로 1,200개 이상의 코스를 제공하고 IBM watsonx.ai 통합 기능이 있는 E6 APEX Course의 출시로 하드웨어 및 소프트웨어 판매가 증가했습니다. 회사는 2025년 동안 프랜차이즈 존재를 확장할 계획이며, 첫 번째 매장은 연말까지 개장할 것으로 예상됩니다.
TruGolf Holdings (NASDAQ: TRUG) a annoncé une mise à jour de ses prévisions pour 2024, dépassant considérablement les objectifs. La société s'attend à ce que les ventes de 2024 atteignent 22,5 millions de dollars, avec un EBITDA prévu pour la seconde moitié de 2024 qui devrait dépasser 2,2 millions de dollars, bien au-dessus de la fourchette d'objectifs précédente de 1,1 à 1,5 million. L'EBITDA pour l'année complète 2024 devrait dépasser 1,2 million.
Une forte croissance a été entraînée par le lancement de nouveaux jeux pour le Multisport Arcade de TruGolf, notamment Hoops, Quarterback, Cornhole et Wild West Shootout. De plus, la sortie du jeu E6 APEX Course, qui propose plus de 1 200 parcours en 4K avec intégration d'IBM watsonx.ai, a stimulé les ventes de matériel et de logiciels. La société prévoit d'élargir sa présence en franchise tout au long de 2025, avec les premières ouvertures prévues d'ici la fin de l'année.
TruGolf Holdings (NASDAQ: TRUG) hat ein Update zu seinen Prognosen für 2024 angekündigt, das die Ziele erheblich übertrifft. Das Unternehmen erwartet, dass die Umsätze 2024 22,5 Millionen Dollar erreichen werden, wobei das EBITDA für die zweite Hälfte 2024 voraussichtlich 2,2 Millionen Dollar übersteigen wird, was deutlich über dem vorherigen Zielbereich von 1,1 bis 1,5 Millionen liegt. Für das gesamte Jahr 2024 wird ein EBITDA von über 1,2 Millionen Dollar erwartet.
Das starke Wachstum wurde durch die Einführung neuer Spiele für TruGolfs Multisport Arcade, darunter Hoops, Quarterback, Cornhole und Wild West Shootout, vorangetrieben. Darüber hinaus steigerte die Veröffentlichung des E6 APEX Course-Spiels, das über 1.200 Kurse in 4K mit IBM watsonx.ai-Integration bietet, sowohl die Hardware- als auch die Softwareverkäufe. Das Unternehmen plant, seine Franchise-Präsenz im Jahr 2025 auszubauen, wobei die ersten Standorte bis Ende des Jahres eröffnet werden sollen.
- Record sales of $22.5 million expected for 2024
- Second half 2024 EBITDA projected at $2.2+ million, exceeding guidance of $1.1-1.5 million
- Full year 2024 EBITDA expected to exceed $1.2 million
- Strong product demand leading to inventory stockouts
- Successful launch of new gaming content and E6 APEX Course play
- Inventory shortages limiting sales potential
- Franchise locations not yet operational
Insights
TruGolf's exceptional performance significantly exceeded guidance, with second-half EBITDA of
The inventory shortages, while potentially limiting short-term revenue, actually validate the strong market acceptance of TruGolf's products. This supply constraint situation presents both a challenge and an opportunity - it demonstrates untapped demand but also highlights the need for supply chain optimization to capture full market potential.
The strategic integration with IBM watsonx.ai for the E6 APEX platform represents a significant competitive moat. With over 1,200 courses in 4K resolution, TruGolf has positioned itself as a premium provider in the golf simulation market. The expansion into franchise operations could establish a predictable recurring revenue stream through both hardware sales and ongoing software subscriptions.
Three key factors warrant attention:
- The diversification into multiple sports through the Multisport Arcade platform reduces seasonality and expands the total addressable market
- The franchise model could accelerate geographic expansion while maintaining capital efficiency
- The combination of hardware (APOGEE Launch Monitor) and software (E6 APEX) creates a compelling ecosystem with high switching costs for customers
Record Sales in 2024
Significantly Exceeds Second Half EBITDA Target
Salt Lake City, Utah, Feb. 18, 2025 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading golf technology company, announced today an update to its previously issued guidance targets. In November the Company announced it expected sales growth for 2024 to be between
Chief Executive Officer and Director Chris Jones said, “We are very pleased with the growing sales momentum for our upgraded and industry leading golf simulators. Second half demand was so strong for some products that we simply ran out of inventory. In response, we have taken actions to adjust for the robust market adoption so that we can better deliver products during this dynamic growth period for TruGolf. Interest in our franchise concept remains high and we anticipate announcing contracts for additional franchises in the United States throughout 2025. We expect the first franchise locations to open before the end of the year, with associated delivery of TruGolf simulators in the first half of 2025.”
Growth in the 2nd half was attributable to the launch of new games for TruGolf’s Multisport Arcade including Hoops, Quarterback, Cornhole, and an update to the ever popular Wild West Shootout pushing sales of both Arcade software and hardware worldwide. Another primary driver was the launch of E6 APEX Course play with over 1,200 courses from around the world in 4K visual splendor, more than any company in the industry, with exclusive benefits for TruGolf’s APOGEE Launch Monitor customers fueling both hardware and software sales growth. This APEX release also included an integration with IBM watsonx.ai.
TruGolf expects to issue its fourth quarter and full year 2024 results in late March 2025, on schedule with requirements for emerging growth companies as defined in the Jumpstart of Businesses Startup Act of 2012.
Disclaimer on Forward Looking Statements
This news release contains certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements that are not of historical fact constitute “forward-looking statements” and accordingly, involve estimates, assumptions, forecasts, judgements and uncertainties. Forward-looking statements include, without limitation, the Company’s forecasts for total sales and EBITDA discussed above. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in the Forward Looking Statements and Risk Factors sections of the Company’s S-1 filed with the Securities and Exchange Commission. We do not undertake an obligation to update our forward-looking statements to reflect future events.
About TruGolf, Inc.:
TruGolf is a golf technology company, committed to making golf, easy. From innovative uses for AI to build content and enhanced image and spatial analysis, to gamified golf improvement plans, TruGolf is an industry leader in the growing technological revolution in the sport of golf. Since TruGolf's founding it has redefined what is possible with golf through technology. TruGolf’s suite of Hardware, Software, and Web Products make the game easier to Play, Improve and Enjoy.
Contact: Michael Bacal
mbacal@darrowir.com
917-886-9071
FAQ
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