Financial Highlights
- For the full year, net sales increased 136% to a record
$8.1 million . - Fourth quarter net sales increased 112% to
$2.3 million , reflecting continued adoption of the Newton Motion™ shaft product line across both direct-to-consumer and professional club-fitting channels. - Achieved the company’s highest single-day sales total in history on Black Friday, driven by continued demand across the Fast Motion™ and Motion™ shaft platform.
- Repeat customers in 2025 represented 26.7% of gross direct-to-consumer (DTC) orders, up 36% from 2024, reflecting increased customer engagement and strengthened brand loyalty.
- Cash and cash equivalents totaled
$1.3 million atDecember 31, 2025 , compared to$2.5 million atSeptember 30, 2025 . Subsequent to year end, the company entered into a securities purchase agreement for the sale in one or more closings of up to$2.0 million of convertible notes and warrants to purchase shares of common stock at an exercise price of$1.75 per share. The first closing occurred onMarch 16, 2026 , where the company issued to entities affiliated with a company director a$500,000 convertible note that bears interest at a rate of 10% annually and matures in 18 months, along with a five-year warrant to purchase 50,000 shares of common stock.
2025 Operational Highlights
- Ranked the No. 1 selling shaft brand for both drivers and fairway woods at Club Champion, reflecting increased adoption among professional club fitters, supporting broader distribution opportunities across the professional fitting channel.
- Expanded the company’s professional club fitter network to approximately 230 locations, an increase of 130% from 2024, strengthening the company’s channel presence across the premium fitting market.
- Surpassed 60 professional golfers playing Newton shafts across PGA TOUR Champions, LPGA, and Korn Ferry Tours, more than doubling from 30 players in 2024.
- Increased brand visibility at global competitions with several players using Newton shafts at the 2025 World Long Drive Championship, including
Tanner Pipes , who captured the Men’s Amateur title with a 396-yard drive. - Introduced the Fast Motion™ driver shaft, expanding the company’s premium driver shaft lineup and extending the Newton Motion™ shaft platform across multiple swing-profile configurations.
- Launched a dedicated Japanese e-commerce platform, www.newtongolf.jp, enabling direct access to customers in one of the world’s largest golf equipment markets.
- Appointed
Jeff Clayborne as Chief Financial Officer and, effectiveJanuary 30, 2026 , expanded his role to Chief Operating Officer to include oversight of manufacturing and operational functions supporting the company’s scaling manufacturing and operational platform.
Subsequent Event
As disclosed in the company’s Form 8-K filed yesterday, Co-Founder and Chief Technology Officer
In addition, Director
Management Commentary
“In 2025, our record top-line results were driven by strong growth in our direct-to-consumer sales channel, increased adoption by professional club fitters, and expansion of our Newton Motion™ technology-driven shaft product line,” said
Our direct-to-consumer growth included achieving record single-day sales on Black Friday, reflecting strong consumer demand across key product lines. These results were supported by continued investments in marketing, personnel, and operational systems to support revenue growth and the scaling of the Newton brand.”
Newton Golf CFO and recently appointed COO
“In addition to expanding our product lineup, we strengthened our international presence through an exclusive distribution agreement with VC Inc. (VOICE CADDIE) for wholesale and retail distribution in
“According to the
“We believe
Full Year 2025 Financial Summary
Net sales in 2025 totaled
Gross profit totaled
Total operating expenses increased to
Net loss for 2025 totaled
Cash and cash equivalents totaled
During 2025, holders exercised substantially all of the Series B warrants issued in connection with the company’s
Q4 2025 Financial Summary
Revenue in the fourth quarter of 2025 totaled
Gross profit totaled approximately
Total operating expenses increased to
Net loss for the fourth quarter of 2025 totaled
Conference Call
Date:
Time:
Toll-free dial-in number: 1-877-407-0752
International dial-in number: 1-201-389-0912
Webcast (live and replay): here
Conference ID: 13759171
Participants may dial in using the numbers above and ask to be joined to the call or click the Call me™ link for instant telephone access to the event. Participants may submit questions via the webcast player in advance of the call.
Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you require any assistance connecting to the call, please contact Encore at 1-949-432-7450.
A replay of the call will be available approximately three hours after the call and will remain available through
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13759171
About
At
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or the future financial performance of
In some cases, forward-looking statements can be identified by words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “intends,” “believes,” “estimates,” “projects,” “potential,” or similar expressions. These forward-looking statements include, but are not limited to, statements regarding the Company’s growth strategy, product innovation and development, expansion of distribution channels, brand adoption among professional fitters and golfers, anticipated market opportunities, and future business prospects.
These forward-looking statements reflect the Company’s current expectations and projections based on information available as of the date of this release and are subject to a number of risks and uncertainties, including, but not limited to, general economic and business conditions; changes in consumer demand and industry trends; competition in the golf equipment market; the Company’s ability to execute its strategic initiatives; supply chain disruptions; and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
The Company cautions investors that forward-looking statements are not guarantees of future performance, and actual results may differ materially from those projected. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law.
STATEMENTS OF OPERATIONS (Amounts rounded to nearest thousands, except share and per share amounts) (unaudited) | ||||||||||||||||||||||||
| For the Three Months Ended | For the Year Ended | |||||||||||||||||||||||
2025 |
|
|
| 2024 |
|
|
| Fav / (Unfav) |
|
|
| 2025 |
|
|
| 2024 |
|
|
| Fav / (Unfav) | ||||
| Net sales | $ | 2,274,000 |
| $ | 1,073,000 |
| $ | 1,201,000 |
| $ | 8,135,000 |
| $ | 3,445,000 |
| $ | 4,690,000 |
| ||||||
| Cost of goods sold | 1,706,000 |
| 296,000 |
| 1,410,000 |
| 3,581,000 |
| 1,171,000 |
| 2,410,000 |
| ||||||||||||
| Gross profit | $ | 568,000 |
| $ | 777,000 |
| $ | (209,000 | ) | $ | 4,554,000 |
| $ | 2,274,000 |
| $ | 2,280,000 |
| ||||||
| Operating Expenses: | ||||||||||||||||||||||||
| Selling, general and administrative | 2,962,000 |
| 2,178,000 |
| 784,000 |
| 11,323,000 |
| 6,509,000 |
| 4,814,000 |
| ||||||||||||
| Research and development expense | 172,000 |
| 25,000 |
| 147,000 |
| 779,000 |
| 743,000 |
| 36,000 |
| ||||||||||||
| Total operating expenses | 3,134,000 |
| 2,203,000 |
| 931,000 |
| 12,102,000 |
| 7,252,000 |
| 4,850,000 |
| ||||||||||||
| Loss from Operations | $ | (2,566,000 | ) | $ | (1,426,000 | ) | $ | (1,140,000 | ) | $ | (7,548,000 | ) | $ | (4,978,000 | ) | $ | (2,570,000 | ) | ||||||
| Other income (expense), net | ||||||||||||||||||||||||
| Interest income, net | 5,000 |
| 21,000 |
| (16,000 | ) | 99,000 |
| 161,000 |
| (62,000 | ) | ||||||||||||
| Financing costs | (6,913,000 | ) | 6,913,000 |
| - |
| (6,913,000 | ) | 6,913,000 |
| ||||||||||||||
| Change in fair value of warrant liabilities | 166,000 |
| (22,000 | ) | 188,000 |
| 1,429,000 |
| (22,000 | ) | 1,451,000 |
| ||||||||||||
| Net Loss | $ | (2,395,000 | ) | $ | (8,340,000 | ) | $ | 5,945,000 |
| $ | (6,020,000 | ) | $ | (11,752,000 | ) | $ | 5,732,000 |
| ||||||
| Net loss per share - basic and diluted | $ | (0.52 | ) | $ | (76.66 | ) | $ | (1.63 | ) | $ | (178.33 | ) | ||||||||||||
| Weighted average common shares outstanding - basic and diluted | 4,610,422 |
| 108,798 |
| 3,701,444 |
| 65,899 |
| ||||||||||||||||
BALANCE SHEETS (Amounts rounded to nearest thousands, except share amounts) (unaudited) | ||||||||
|
|
| ||||||
|
| 2025 |
|
| 2024 |
| ||
|
|
|
|
| ||||
ASSETS |
|
|
|
|
|
| ||
Current Assets |
|
|
|
|
|
| ||
Cash and cash equivalents |
| $ | 1,298,000 |
|
| $ | 7,650,000 |
|
Accounts receivable, net |
|
| 102,000 |
|
|
| 115,000 |
|
Inventory, net of reserve for obsolescence of |
|
| 374,000 |
|
|
| 913,000 |
|
Prepaid expenses and other current assets |
|
| 413,000 |
|
|
| 274,000 |
|
Total Current Assets |
|
| 2,187,000 |
|
|
| 8,952,000 |
|
|
|
|
|
|
|
| ||
Property and equipment, net |
|
| 880,000 |
|
|
| 716,000 |
|
Right of use asset |
|
| 84,000 |
|
|
| 34,000 |
|
Software licensing agreement, net |
|
| 25,000 |
|
|
| 59,000 |
|
Deferred Offering Costs |
|
| 123,000 |
|
|
| - |
|
Deposits |
|
| - |
|
|
| 5,000 |
|
Total Other Assets |
|
| 1,112,000 |
|
|
| 814,000 |
|
|
|
|
|
|
|
| ||
TOTAL ASSETS |
| $ | 3,299,000 |
|
| $ | 9,766,000 |
|
|
|
|
|
|
|
| ||
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIENCY) |
|
|
|
|
|
| ||
Current Liabilities |
|
|
|
|
|
| ||
Accounts payable and accrued expenses |
| $ | 1,503,000 |
|
| $ | 572,000 |
|
Lease liability, current |
|
| 40,000 |
|
|
| 34,000 |
|
Software licensing obligation, current |
|
| 41,000 |
|
|
| 54,000 |
|
Warrant Liability |
|
| 745,000 |
|
|
| 14,261,000 |
|
Total Current Liabilities |
|
| 2,329,000 |
|
|
| 14,921,000 |
|
|
|
|
|
|
|
| ||
Software licensing fee obligation, net of current |
|
| - |
|
|
| 32,000 |
|
Lease liabilities, net of current |
|
| 44,000 |
|
|
| - |
|
Total Liabilities |
|
| 2,373,000 |
|
|
| 14,953,000 |
|
|
|
|
|
|
|
| ||
Shareholders’ Equity (Deficiency) |
|
|
|
|
|
| ||
Preferred stock, par value |
|
| - |
|
|
| - |
|
Common stock, par value |
|
| 45,000 |
|
|
| 3,000 |
|
Additional paid-in capital |
|
| 28,970,000 |
|
|
| 16,879,000 |
|
Accumulated deficit |
|
| (28,089,000 | ) |
|
| (22,069,000 | ) |
Total Shareholders’ Equity (Deficiency) |
|
| 926,000 |
|
|
| (5,187,000 | ) |
|
|
|
|
|
|
| ||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIENCY) |
| $ | 3,299,000 |
|
| $ | 9,766,000 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20260331535591/en/
Company Contact:
CFO and COO
Tel (855) 563-9866
Email Contact
Investor Relations Contact:
Encore Investor Relations
Tel (949) 432-7557
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