TruGolf Holdings, Inc. TRUG

Consumer discretionary SIC 3949 - Sporting & Athletic Goods, NEC NAICS Manufacturing › Miscellaneous Manufacturing › Other Miscellaneous Manufacturing › Sporting and Athletic Goods Manufacturing derived Nasdaq

otherwise indicated or the context requires otherwise, the terms "we," "us," "our," and "our

company" refer to TruGolf Holdings, Inc., a Nevada corporation ("TruGolf"), and its wholly owned subsidiaries, including

TruGolf, Inc., a Nevada corporation ("TruGolf Nevada") and TruGolf Links Franchising, LLC ("Links"), a Delaware

limited liability company.

Last close 0.88 2026-10-23
Market cap $800.1K 2025-12-31 share count
52-week range 0.36 - 26.80

Valuation FY2025 figures against the last close

P/S0.0x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-51.39

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Revenue $18.9M$21.3M$20.6M———
Cost of revenue $9.4M$7.4M$7.8M———
Gross profit $9.5M$13.9M$12.8M———
SG&A $11.0M$6.7M$11.0M$1.9M$348.7K—
Total operating expenses $15.6M$16.0M$21.4M$2.2M$409.9K—
Operating income -$6.1M-$2.1M-$8.7M———
Interest expense $663.0K$545.3K$601.1K———
Pre-tax income ———$274.1K——
Income tax ———$57.6K——
Net income -$15.2M-$8.8M-$10.3M-$400.2K-$414.0K—
EPS, basic -51.39-377.98-857.35———
EPS, diluted -51.39-377.98-857.35———
Shares, diluted (wtd. avg.) 296,31323,27011,994———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Cash and equivalents $10.5M$8.8M$3.3M—$877.1K$500.1K
Short-term investments ——$2.5M———
Receivables $1.1M$1.4M$2.4M———
Inventory $863.3K$2.3M$2.1M———
Total current assets $15.5M$14.8M$12.7M$9.8M$129.0M$537.6K
Property, plant and equipment $355.5K$143.9K$234.3K———
Total assets $20.2M$17.1M$15.8M$9.8M$129.0M$537.6K
Accounts payable $2.8M$2.8M$2.1M———
Total current liabilities $14.4M$15.8M$10.7M$2.8M$536.7K$41.0K
Long-term debt $2.8M$3.6M$2.1M———
Total liabilities $15.9M$21.8M$19.7M$7.2M$5.0M$547.0K
Retained earnings -$41.1M-$21.2M-$12.4M-$6.4M-$3.8M-$59.4K
Total equity $4.3M-$4.6M-$3.9M-$3.4M-$3.8M-$9.4K

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Operating cash flow -$1.7M-$4.0M-$6.1M-$1.0M-$697.9K—
Depreciation and amortisation $38.5K$76.8K$58.6K———
Capital expenditure $205.4K$36.3K$127.4K———
Investing cash flow -$3.4M$741.1K-$2.6M$120.4M-$127.8M—
Financing cash flow $6.8M$8.7M$4.5M-$119.7M$128.8M—

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 0001493152-26-020770.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -20M -10M 0 10M 20M 30M Net income, FY2021: -414K Net income, FY2022: -400.2K Revenue, FY2023: 20.6M Gross profit, FY2023: 12.8M Net income, FY2023: -10.3M Revenue, FY2024: 21.3M Gross profit, FY2024: 13.9M Net income, FY2024: -8.8M Revenue, FY2025: 18.9M Gross profit, FY2025: 9.5M Net income, FY2025: -15.2M FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — — $20.6M $21.3M $18.9M
Gross profit — — — $12.8M $13.9M $9.5M
Net income — -$414.0K -$400.2K -$10.3M -$8.8M -$15.2M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
  • Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Material agreement signed Item 1.01
  • Unregistered share sale Item 3.02
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Item 5.02
  • Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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