Newton Golf Company Reports First Quarter 2025 Financial Results

CAMARILLO, Calif., May 15, 2025 (GLOBE NEWSWIRE) -- via IBN – NEWTON GOLF Company (NASDAQ: NWTG) (“Newton Golf” or the “Company”), a technology-forward golf company delivering physics-based performance innovations for players at every level, today reported financial results for the first quarter ended March 31, 2025. First Quarter 2025 Highlights Revenue increased 246% to $1.2 million, compared to $350,000 in Q1 2024Gross profit rose 348% to $852,000, up from $190,000 in the prior-year periodGross margin expanded to 70%, up from 54% a year agoNet loss of $0.5 million, or ($0.55) per share, compared to a net loss of $1.2 million, or ($24.85) per share in Q1 2024. Note: The Q1 2024 per-share figure reflects the pre-uplisting share count, which was significantly lower. The Company’s uplisting to Nasdaq in August 2024 included a share conversion, which substantially increased the share count used for calculating earnings per share. Cash and cash equivalents totaled $5.9 million as of March 31, 2025 Newton Motion shaft adoption surpassed 30 professionals, with 8 new players joining across PGA TOUR Champions, LPGA, Korn Ferry, and PGA TOUR events during the quarter Management Commentary “We are very pleased with our first-quarter results, especially given that it is typically the offseason for golf,” said Greg Campbell, Chief Executive Officer of Newton Golf. “When we launched the Newton Motion shaft, our goal was to engineer performance that speaks for itself. The fact that more than 30 professionals are now using Newton shafts across major tours—and that 8 of those joined in Q1—validates both the technology and our direction. We’re just getting started. Demand for our Fast Motion shaft has exceeded expectations, and we are ramping up production to keep pace.” “We continue to execute with discipline and focus. The 246% year-over-year revenue growth reflects strong demand, expanding distribution, and improving unit economics. While gross margins expanded to 70%, our operating expenses in Q1 were temporarily elevated due to several one-time costs, including: Extra legal expenses associated with special shareholder meetings and warrant exercises.Higher audit expenses tied to warrant valuation and warrant accounting.One-time transfer agent fees.Proxy solicitor costs related to the special shareholder meeting. These expenses were necessary to support key strategic actions and ensure regulatory compliance. With gross margins holding strong and $5.9 million in cash, we remain well-positioned to scale the business strategically while maintaining financial discipline.” Recent Business Highlights Shaft sales grew 314% year-over-yearNewton Fast Motion, the Company’s lightweight innovation, was adopted by multiple Tour professionals in Q1Secured distribution with two of Japan’s largest golf retailers, extending Newton’s international reachExpanded product testing and engagement with club fitting leaders in Europe and North AmericaShowcased Newton’s full product lineup at the 2025 PGA Show in Orlando, highlighting both shaft and putter innovations to key industry stakeholders Looking Ahead “As we look ahead to the rest of 2025, our focus remains on expansion—new products, new markets, and continued Tour validation,” added Campbell. “We believe Newton’s trajectory is being driven by something deeper than hype. It’s being driven by results, by performance, and by trust on Tour. And we’re building for the long term.” Revenue Guidance The Company expects full-year 2025 revenue to range between $6.5 million and $7.0 million, representing continued strong growth from 2024. Consolidated Results of Operations Three Months Ended, March 31   2025  2024  Incr/(Decr)               Net Sales $ 1,210,000   $ 350,000   246%Cost of goods sold 358,000  160,000  124% Gross profit 852,000  190,000  348%           Operating expenses:             Selling, general and administrative 2,541,000  1,271,000  100% Research and development 282,000  190,000  48%Total operating expenses 2,823,000  1,461,000  93%               Loss from operations (1,971,000) (1,271,000)  55%               Change in fair value of warrant liabilities1,401,000   Interest income, net45,000  62,000  (27)%   Net loss $ (525,000) $ (1,209,000) (57)%              Loss per share - basic and diluted $ (0.55) $ (24.85) (98)% Weighted Average number of shares outstanding- basic and diluted953,959 48,653 For more information, visit the Company’s investor relations website at www.NewtonGolfIR.com or contact Investor Relations at ir@newtongolfco.com. Investor Alerts Stay updated with the latest from Newton Golf! Sign up for investor alerts at newtongolfir.com/email-alerts to receive company news and strategic developments directly to your inbox. About NEWTON GOLF At Newton Golf, we harness the power of physics to revolutionize golf equipment design. Formerly known as Sacks Parente, our rebranding reflects our commitment to innovation inspired by Sir Isaac Newton, the father of physics. By applying Newtonian principles to every aspect of our design process, we create precision-engineered golf equipment—including Newton Motion shafts and Gravity putters—that deliver unmatched stability, control, and performance. Our mission is to empower golfers with scientifically advanced tools that maximize consistency and accuracy, ensuring every swing is backed by the laws of physics. 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 Newton Golf Company (the “Company”) and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. In some cases, forward-looking statements can be identified by terms such as "may," "will," "should," "expects," "plans," "anticipates," "intends," "believes," "estimates," "projects," "potential," "continues," or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding the expected benefits of the reverse stock split, the Company’s ability to maintain compliance with Nasdaq listing requirements, the potential for increased institutional investor interest, the Company’s future growth strategy, expansion of its product portfolio, anticipated financial performance, 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, financial, and business conditions; changes in consumer demand and industry trends; the Company’s ability to successfully implement its strategic initiatives; competition in the golf equipment market; supply chain disruptions; regulatory compliance and legal proceedings; 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, whether as a result of new information, future events, or otherwise, except as required by law. Media Contact: Beth GastBG Public Relationsbeth.gast@bgpublicrelations.com Investor Contact: Scott McGowanInvestor Brand Network (IBN)Phone: 310.299.1717ir@newtongolfco.com

Newton Golf Company Reports First Quarter 2025 Financial Results

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