Newton Golf Company Announces Fourth Quarter and Full Year 2024 Financial Results
CAMARILLO, Calif., March 31, 2025 (GLOBE NEWSWIRE) -- via IBN, Newton Golf Company (NASDAQ:NWTG) ("Newton Golf" or the "Company"), a leader in premium golf equipment innovation, today announces financial results for the fourth quarter and full year ended Dec. 31, 2024. The Company delivered record revenue growth, strong margin expansion, and continued operational momentum, supported by strategic product launches, international expansion, and a successful corporate rebranding.
HIGHLIGHTS
Fourth Quarter Revenue of $1,073,000, an 817% increase from $117,000 in Q4 2023.
Fourth Quarter Gross Margin expanded to 73%, up from 36% in Q4 2023, driven by enhanced manufacturing efficiencies and an improved product mix.
Full-Year Revenue of $3.445 million, representing an 887% increase from $349,000 in fiscal 2023.
Full-Year Gross Margin increased to 67%, compared to 35% in fiscal 2023, reflecting higher sales volume and improved production efficiencies.
Successfully rebranded from Sacks Parente Golf to Newton Golf Company, reinforcing its physics-driven approach to golf equipment innovation.
Expanded product portfolio, launching Newton Fairway Motion Shafts, five new Newton Gravity putter models, and the new Fast Motion shaft line, a lighter-weight shaft available in a distinct new color.
Broadened global presence, securing distribution in 50 of Japan's largest golf retail locations.
Increased tour adoption, with over 30 players putting the Newton Motion Shaft in play on the PGA TOUR Champions during 2024. Newton Golf continues to expand its presence, with growing traction on both the PGA Tour and LPGA Tour.
Doug Barron captured a major victory at the Regions Tradition on the PGA TOUR Champions using a Newton Motion shaft, validating Newton's performance on the sport's biggest stages.
As of Dec. 31, 2024, Newton Golf had a cash balance of $7.65 million, which is expected to support operations for approximately 14 months. The Company continues to evaluate additional financing opportunities to support long-term growth.
"2024 was a transformative year for Newton Golf, as we successfully executed our strategic vision and delivered exceptional financial and operational performance," said Greg Campbell, chairman and CEO of Newton Golf Company. "Our tenfold revenue growth, substantial margin expansion, and increasing tour adoption demonstrate the effectiveness of our innovation and market strategy. With expanding tour presence, including players on the PGA Tour and LPGA Tour, and the launch of our new Fast Motion shaft line, we continue to drive industry-leading performance and brand recognition. With a strong foundation in place, we are focused on scaling operations, expanding global distribution, and driving sustained growth in 2025 and beyond."
CONSOLIDATED RESULTS
Three Months Ended December 31, 2024
Q4 2024
Q4 2023
% Change
Net Sales
$
1,073,000
$
117,000
817
%
Cost of goods sold
296,000
75,000
295
%
Gross profit
777,000
42,000
1,750
%
Operating expenses:
Selling, general and administrative
2,178,000
1,922,000
13
%
Research and development
25,000
35,000
-29
%
Total operating expenses
2,203,000
1,957,000
13
%
Loss from operations
-1,426,000
-1,915,000
-26
%
Interest income (expense), net
20,000
76,000
-74
