Newton Golf Company, Inc. NWTG
designs, manufactures, and sells performance golf equipment, including premium golf shafts and putters, and focuses on developing
technology-driven golf products intended to enhance player performance. The Company's Newton Motion™ shaft product line
represents a core component of its product strategy and has contributed significantly to recent revenue growth.
April 2022, the Company expanded its manufacturing capabilities by opening a shaft manufacturing facility in St. Joseph, Missouri to
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $8.1M | $3.4M | $349.0K | $190.0K | — |
| Cost of revenue | $3.6M | $1.2M | $227.0K | $110.0K | — |
| Gross profit | $4.6M | $2.3M | $122.0K | $80.0K | — |
| R&D | $779.0K | $743.0K | $258.0K | $73.0K | — |
| SG&A | $11.3M | $6.5M | $4.5M | $2.9M | — |
| Total operating expenses | $12.1M | $7.3M | $4.8M | $2.9M | — |
| Operating income | -$7.5M | -$5.0M | -$4.6M | -$2.9M | — |
| Interest expense | — | — | $8.0K | $64.0K | — |
| Net income | -$6.0M | -$11.8M | -$4.6M | -$3.5M | — |
| EPS, basic | -1.63 | -178.33 | -113.38 | -0.34 | — |
| EPS, diluted | -1.63 | -178.33 | -113.38 | -0.34 | — |
| Shares, diluted (wtd. avg.) | $3.7M | $65.9K | $40.8K | $10.4M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $1.3M | $7.7M | $5.3M | $147.0K | — |
| Receivables | $102.0K | $115.0K | $53.0K | $2.0K | — |
| Inventory | $374.0K | $913.0K | $248.0K | $142.0K | — |
| Total current assets | $2.2M | $9.0M | $5.8M | $331.0K | — |
| Property, plant and equipment | $880.0K | $716.0K | $379.0K | $122.0K | — |
| Total assets | $3.3M | $9.8M | $6.4M | $710.0K | — |
| Accounts payable | $1.5M | $572.0K | $401.0K | $97.0K | — |
| Total current liabilities | $2.3M | $14.9M | $475.0K | $2.2M | — |
| Total liabilities | $2.4M | $15.0M | $604.0K | $2.2M | — |
| Retained earnings | -$28.1M | -$22.1M | -$10.3M | -$5.7M | — |
| Total equity | $926.0K | -$5.2M | $5.8M | -$1.9M | -$1.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$5.2M | -$4.9M | -$5.0M | -$785.0K | — |
| Depreciation and amortisation | $305.0K | $165.0K | $32.0K | $11.0K | — |
| Stock-based compensation | $274.0K | $308.0K | $443.0K | — | — |
| Capital expenditure | $469.0K | $502.0K | $289.0K | $75.0K | $58.0K |
| Investing cash flow | -$469.0K | -$502.0K | -$289.0K | -$75.0K | — |
| Financing cash flow | -$717.0K | $7.7M | $10.5M | $847.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-014164.
Others in SIC 3949
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| PTON | PELOTON INTERACTIVE, INC. | $2.29B | 38.6x | -1.8% |
| ESCA | ESCALADE INC | $287.3M | 21.1x | -4.5% |
| AOUT | American Outdoor Brands, Inc. | $182.8M | — | -14.3% |
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| TRUG | TruGolf Holdings, Inc. | $347.1K | — | -11.3% |