Delivers largest revenue quarter in company history with 113% year-over-year revenue growth
CAMARILLO, California – Newton Golf Company, Inc. (NASDAQ: NWTG) (“Newton Golf” or the “Company”), a technology-forward golf-equipment innovator applying physics-driven engineering to golf performance, today announced financial results for the third quarter ended Sept. 30, 2025.
Third Quarter and Year-to-Date 2025 Financial Highlights
- Q3 2025 Revenue: $2.58 million, up 113% from $1.21 million in Q3 2024
- First Nine Months 2025 Revenue: $5.86 million, up 147% from $2.37 million in the prior year period
- Q3 2025 Gross Profit: $1.73 million (up 115% over Q3 2024) with 67% gross margin
- First Nine Months Gross Profit: $3.99 million (up 166% over the prior year period) with 68% gross margin
- Q3 2025 Net Loss: $1.58 million ($0.34 per share) compared to $1.06 million ($21.79 per share) in Q3 2024
- Cash & Equivalents: $2.55 million as of Sept. 30, 2025
- Full-Year 2025 Guidance Reaffirmed: $7 million – $7.5 million, representing 100%+ growth year-over-year
Management Commentary
Greg Campbell, Chief Executive Officer, stated:
“Q3 2025 delivered another quarter of strong execution and accelerating adoption of Newton shaft technology. Revenue grew 113% year-over-year, gross margin remained strong at 67%, and demand continues to broaden across all channels.”
Tour Adoption Accelerating
- More than 60 professionals across the PGA TOUR Champions, LPGA, and Korn Ferry Tours are now gaming Newton shafts
- Includes multiple major champions and Ryder Cup alumni
- Visibility on tour continues to translate to consumer demand and professional club fitter adoption
“Elite players demand performance — and they don’t use products that can’t deliver. The growing number of professionals gaming Newton shafts underscores the proven technology behind our motion-optimized designs and strengthens our brand credibility with consumers.”
Fast Motion: Strongest Launch in Company History
- Fast Motion delivered the fastest sales growth of any Newton shaft line
- Q3 2025 sales were up more than 300% from Q2 2025
- Demand continues to exceed internal forecasts
“Fast Motion is a commercial success, reflecting strong consumer validation and our ability to scale manufacturing as volume grows.”
Channel Expansion and E-Commerce Growth
- Continued expansion of professional club fitter and retail coverage in the U.S.
- Direct-to-consumer channel continues to deliver premium margins and strong repeat-purchase rates
Japan e-commerce launch:
“In October 2025, we launched our dedicated Japanese e-commerce site, enabling direct access to Newton products in the world’s second-largest golf market. Japan represents approximately 11.4 million active golfers as of 2023 and one of the highest per-golfer equipment spend levels globally. Early consumer response and professional club fitter engagement have been strong, and we expect Japan to be a meaningful contributor to revenue growth in 2026.”
Operational Execution
- Added production capacity at the St. Joseph, Missouri, facility
- Improved manufacturing efficiency to support increasing demand entering 2026
- Advanced companywide systems and process optimization to support scalable growth and drive long-term operating efficiency
Business Outlook
“We are executing against a clear plan: expand Newton’s tour presence, scale our professional club fitter and retail footprint, deepen OEM engagement, and accelerate product innovation. We believe these efforts position Newton for continued long-term growth.”
Strategic priorities for 2026:
- OEM integration discussions underway with major club manufacturers
Approximately 4 million driver shafts are sold annually in the U.S. through OEM club manufacturers. - Three new premium shaft lines in development for 2026 launch
- Additional product categories to broaden revenue opportunities
- Lower operating expenses as a percentage of revenue
Market Tailwinds
The golf-equipment category remains healthy:
- ~47 million active U.S. golfers and ~64 million worldwide
- Over-40 segment — Newton’s core customer — accounts for the highest equipment spend
- Global equipment market of $7 billion – $9 billion, estimated to grow ~5% annually through 2030
- USGA & R&A ball-modification rules (2028–2030) expected to drive new equipment cycles
“Newton sits at a compelling point in the market where performance innovation aligns with long-term industry demand.”
CFO Commentary
Jeff Clayborne, Chief Financial Officer, added:
“Q3 2025 provided record topline growth. Revenue increased 113% year-over-year and gross margin remained strong at 67%. Gross profit for the nine months ended Sept. 30, 2025, increased 166% to $3.99 million as compared to the prior year period.”
- The Company increased investment in professional services to modernize back-office systems, improve data accuracy, and build processes that support scalable growth and lower future operating costs. These efforts also include implementing enhanced policies, procedures, and internal controls as management continues to evaluate and remediate previously identified material weaknesses. Cash and cash equivalents of $2.55 million are available to support operations as the Company seeks to continue to grow.
- Full-year revenue guidance reaffirmed at $7 million to $7.5 million
“With a differentiated product portfolio, strong customer reception, and a scalable operating model, we believe Newton remains well-positioned for continued revenue growth into 2026.”
