TruGolf Announces Guidance for Second Half 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 (NASDAQ: TRUG) ha fornito le sue previsioni finanziarie per il resto del 2024, prevedendo una forte crescita dei ricavi. L'azienda si aspetta che le vendite totali aumentino del 8%-12% rispetto al 2023, con un EBITDA che supera i 500.000 dollari nella seconda metà dell'anno, segnando un ritorno alla redditività. I fattori di crescita includono nuovi ricavi derivanti dal business di franchising TruGolf Links e l'adozione di mercato dei prodotti recentemente lanciati. L'azienda prevede di pubblicare i risultati del terzo trimestre nella prima metà di novembre 2024, supportata da un personale contabile rafforzato che include un nuovo controllore ad interim.
TruGolf Holdings (NASDAQ: TRUG) ha proporcionado su perspectiva financiera para el resto de 2024, proyectando un fuerte crecimiento de los ingresos. La compañía espera que las ventas totales aumenten entre un 8% y 12% en comparación con 2023, con un EBITDA que supere los 500,000 dólares en la segunda mitad del año, marcando un regreso a la rentabilidad. Los impulsores del crecimiento incluyen nuevos ingresos del negocio de franchising TruGolf Links y la adopción del mercado de productos lanzados recientemente. La compañía planea publicar los resultados del tercer trimestre en la primera mitad de noviembre de 2024, respaldada por un equipo contable fortalecido que incluye un nuevo contralor interino.
TruGolf Holdings (NASDAQ: TRUG)는 2024년 나머지 기간에 대한 재무 전망을 제공하며 강력한 수익 성장세를 예상하고 있습니다. 이 회사는 2023년 대비 총 매출이 8%-12% 증가할 것으로 예상하며, 후반기 EBITDA는 500,000달러를 초과하여 수익성 회복을 나타냅니다. 성장 동력은 TruGolf Links 프랜차이즈 사업으로부터의 새로운 수익과 최근 출시된 제품의 시장 채택을 포함합니다. 이 회사는 2024년 11월 첫째 주에 3분기 실적을 발표할 예정이며, 새로운 임시 감사관을 포함한 강화된 회계 직원의 지원을 받습니다.
TruGolf Holdings (NASDAQ: TRUG) a fourni ses prévisions financières pour le reste de l'année 2024, projetant une forte croissance des revenus. La société s'attend à ce que les ventes totales augmentent de 8%-12% par rapport à 2023, avec un EBITDA dépassant 500.000 dollars au cours de la seconde moitié de l'année, marquant un retour à la rentabilité. Les moteurs de croissance comprennent de nouveaux revenus provenant de l'activité de franchise TruGolf Links et l'adoption de produits récemment lancés sur le marché. La société prévoit de publier ses résultats du troisième trimestre au cours de la première moitié de novembre 2024, soutenue par un personnel comptable renforcé, y compris un nouveau contrôleur intérimaire.
TruGolf Holdings (NASDAQ: TRUG) hat seinen finanziellen Ausblick für den Rest des Jahres 2024 veröffentlicht und prognostiziert ein starkes Umsatzwachstum. Das Unternehmen erwartet, dass der Gesamtumsatz im Vergleich zu 2023 um 8%-12% steigen wird, wobei das EBITDA in der zweiten Jahreshälfte 500.000 Dollar übersteigen soll, was eine Rückkehr zur Rentabilität markiert. Treiber des Wachstums sind neue Einnahmen aus dem TruGolf Links-Franchise-Geschäft und die Marktakzeptanz kürzlich eingeführter Produkte. Das Unternehmen plant, die Ergebnisse des dritten Quartals in der ersten Novemberhälfte 2024 bekannt zu geben, unterstützt durch ein gestärktes Buchhaltungsteam, das einen neuen Interimscontroller umfasst.
- Projected sales growth of 8-12% compared to 2023
- Expected EBITDA over $500,000 in H2 2024
- Return to profitability indicated
- Strong performance in new franchising business
- Successful market adoption of new products
- None.
Insights
TruGolf's guidance reveals encouraging financial metrics, with projected
While the growth projections are positive, they are moderate compared to high-growth tech sector standards. The company's focus on strengthening its financial reporting infrastructure with new accounting personnel demonstrates commitment to maintaining public company compliance standards, though this also suggests additional overhead costs.
Expects Strong Revenues Driven by Franchising and New Products
Will Issue Q3 Results in First Half of November
Salt Lake City, Utah, Oct. 22, 2024 (GLOBE NEWSWIRE) -- TruGolf Holdings, Inc. (NASDAQ: TRUG), a leading provider of golf simulator software and hardware, announced today its financial outlook for the balance of 2024. The Company expects to report strong revenues for the second half of 2024 driven in part by new revenues from its franchising business, TruGolf Links, as well as by market adoption of new products launched earlier this year.
Chief Executive Officer and Director Chris Jones said, “We have seen strong lift in interest, leads, and closes in Q2 and Q3 which has us excited for the dynamic growth ahead of TruGolf. The launch of our franchise concept has been very well received in the market and we expect it to continue growing in the years ahead. Additionally, our recently launched hardware and software products are finding broad market acceptance as a leading provider of golf simulator equipment. The combination of franchising and growing product sales should lead to strong revenues in the second half of 2024.”
Outlook:
- Total sales are expected to grow by
8% -12% by the end of 2024 as compared to 2023 levels. - EBITDA for the second half should be greater than
$500,000 showing a return to profitability.
Mr. Jones continued, “We are proud of our team for their hard work in the transition to becoming a public company. In addition we added both an interim Comptroller and additional outside accounting staff to reinforce the team in order to ensure timely monthly closings, audits and filing. As a result, we expect to report our third quarter results in the first half of November, 2024.”
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.:
Since 1983, TruGolf has been passionate about driving the golf industry with innovative indoor golf solutions. TruGolf builds products that capture the spirit of golf. TruGolf's mission is to help grow the game by attempting to make it more Available, Approachable, and Affordable through technology - because TruGolf believes Golf is for Everyone. TruGolf's team has built award-winning video games ("Links"), innovative hardware solutions, and an all-new e-sports platform to connect golfers around the world with E6 CONNECT. Since TruGolf's beginning, TruGolf has continued to attempt to define and redefine what is possible with golf technology.
Contact:
TruGolf Inc.
Brenner Adams, Chief Growth Officer
801-298-1997
trug@trugolf.com
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