NEWTON GOLF reports significant revenue growth and improved gross margins for Q4 and full year 2024, driven by product innovation.
Quiver AI Summary
NEWTON GOLF Company, a technology-driven golf equipment manufacturer, announced impressive preliminary financial results for the fourth quarter and full year of 2024, with revenues expected to reach between $1.1 million and $1.3 million in Q4, up 882% from the previous year. Full-year revenues are anticipated to grow nearly ten-fold, from $349,000 in 2023 to between $3.4 million and $3.6 million. Gross margins are also projected to rise significantly, indicating improved manufacturing efficiencies. The company launched several new products, including premium putters and shafts, enhanced its market presence in Japan, and increased its engagement with professional golfers. Executive Chairman Greg Campbell expressed optimism about ongoing growth and a positive sales trajectory, despite the off-season for golf. The company is focused on expanding its product lines and manufacturing capabilities in the U.S.
Potential Positives
- Expected revenue for 4Q24 is projected to be between $1.1 million and $1.3 million, marking an increase of 882% compared to the same quarter last year.
- Full year 2024 revenue is anticipated to rise from $349,000 in 2023 to between $3.4 million and $3.6 million, representing nearly tenfold growth.
- Gross margin is expected to increase significantly from 36% in 4Q23 to between 72% and 74% in 4Q24, indicating improved manufacturing efficiency.
- Successful digital campaigns contributed to substantial revenue growth, indicating effective marketing strategies and execution.
Potential Negatives
- Preliminary financial results may change, indicating potential volatility or inaccuracies in the company's financial reporting, which could undermine investor confidence.
- The language emphasizes that the preliminary financial information should not be viewed as a definitive measure of performance, raising concerns about its reliability and transparency.
- Despite significant revenue growth, the company’s actual revenue figures are still relatively low, suggesting it may face challenges scaling further in a competitive market.
FAQ
What are the preliminary financial results for NEWTON GOLF in Q4 2024?
NEWTON GOLF expects revenue of $1.1 million - $1.3 million in Q4 2024, an increase of 882% from Q4 2023.
How has NEWTON GOLF's gross margin changed in 2024?
Gross margin is expected to rise from 36% in Q4 2023 to 72-74% in Q4 2024 due to improved sales and efficiencies.
What is the expected revenue growth for NEWTON GOLF in 2024?
Full year 2024 revenue is anticipated to reach $3.4 million - $3.6 million, nearly a tenfold increase from 2023.
What new products did NEWTON GOLF launch in 2024?
The company launched the Newton Fairway Motion shafts and the Newton Gravity premium putter line, introducing five new models.
How has NEWTON GOLF expanded its global presence?
NEWTON GOLF launched its products in 50 of Japan’s largest golf retail locations, enhancing its global reach.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SPGC Insider Trading Activity
$SPGC insiders have traded $SPGC stock on the open market 13 times in the past 6 months. Of those trades, 13 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $SPGC stock by insiders over the last 6 months:
- BRETT WIDNEY HOGE has made 5 purchases buying 163,000 shares for an estimated $139,360 and 0 sales.
- GREGOR ALASDAIR CAMPBELL (Executive Chairman) has made 8 purchases buying 70,000 shares for an estimated $33,560 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$SPGC Hedge Fund Activity
We have seen 1 institutional investors add shares of $SPGC stock to their portfolio, and 4 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- PENBROOK MANAGEMENT LLC added 20,000 shares (+inf%) to their portfolio in Q4 2024, for an estimated $8,398
- GEODE CAPITAL MANAGEMENT, LLC removed 18,085 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $67,818
- CITADEL ADVISORS LLC removed 1,789 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $6,708
- TOWER RESEARCH CAPITAL LLC (TRC) removed 129 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $483
- UBS GROUP AG removed 100 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $375
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
CAMARILLO, CA, Jan. 27, 2025 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, reports preliminary financial results for the fourth quarter of 2024 (three months ended December 31, 2024) and full year of 2024 ahead of its quarterly filing.
Financial Highlights
- Revenue is expected to be between $1.1 million - $1.3 million in 4Q24, an increase of 882% at the midpoint of the range from revenue of $117,000 in 4Q23
- Gross margin is expected to increase from 36% in 4Q23 to 72-74% in 4Q24, driven by increased sales and efficiencies in the manufacturing process in calendar 2024
- Full year 2024 revenue is expected to increase from $349,000 in fiscal 2023 to $3.4 million - $3.6 million, representing almost 10-fold growth
- Full year 2024 gross margin is expected to increase from 35% in fiscal 2023 to 65-67%, driven by increased volume in manufacturing in calendar 2024
2024 Corporate Highlights
- Announced a complete rebranding of the Company to NEWTON GOLF Company
- Launched the Newton Fairway Motion shafts
- Launched the new Newton Gravity premium putter line through the introduction of five new putter models
- Expanded the Company’s global presence with the launch of the Newton Motion shafts in 50 of Japan’s largest golf retail locations
- Increased the number of golf professionals using the Newton Motion Shafts on the PGA TOUR Champions from less than five at the beginning of 2024 to 34 at the end of 2024
- Executed successful digital campaigns with high return on ad spending that were instrumental in the Company’s revenue growth
- Closed on $9.1 million in financings to support the Company’s strategic growth
- Introduced new advanced performance shafts for higher swing speeds in January 2025
NEWTON GOLF Executive Chairman Greg Campbell commented, “Our expected improved results in 4Q24 and full year 2024 is reflective of the growing acceptance of our unique technology and design elements in our putters and replacement shafts. We recognized significantly increased sales of our NEWTON Motion replacement shafts throughout 2024 from both professional and recreational golfers, and we expect that momentum to continue in 2025. Despite it being generally off season for golf, we were pleased with our Black Friday and Cyber Monday sales, and we look forward to improved gross margin performance as we scale production and bring down unit cost.”
This press release contains preliminary estimated financial results for the quarter and fiscal year ended December 31, 2024, and the financial results may change as a result of management’s continued review. The preliminary financial information included in this press release reflects the Company's current estimates based on information available as of the date of this press release and has been prepared by Company management. This preliminary financial and operational information should not be viewed as a substitute for full financial statements and is not necessarily indicative of the results to be achieved for any future periods. This preliminary financial and operational information could be impacted by the effects of financial closing procedures, final adjustments, and other developments.
About NEWTON GOLF: A Sacks Parente Company
NEWTON GOLF: A Sacks Parente Company, is a technology-forward golf company that help golfers elevate their game. With a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, the Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (ULBP) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts.
In consideration of its growth opportunities in golf shaft technologies, the Company expanded its manufacturing business in April of 2022 to develop the advanced Newton brand of premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth.
The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, Club Champion retail stores, and distributors in the United States, Japan, and South Korea.
For more information, please visit the Company’s website at www.newtongolfco.com or on social media at @newtongolfco.com, @newtonshafts, or @gravityputters.
Investor Contact for NEWTON GOLF
CORE IR
516-222-2560
[email protected]