Filing Flows › Callaway Golf (CALY) › Q4 2025
Callaway Golf (CALY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Callaway Golf (CALY) reported revenue of $368M for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and -21% from the quarter before. Operating margin was -14.7%, net loss $417M (113.5% of revenue).
Callaway Golf, Q4 2025: revenue $368M (-1% year over year), operating margin -14.7%, net loss $417M, operating cash flow $63.9M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $368M | -21% | -1% |
| Operating profit | −$54.1M | -291% | — |
| Net earnings | −$417M | — | — |
| Operating cash flow | $63.9M | -72% | +48% |
What changed
Revenue was $367.5M in Q4 2025, down 1% year over year and down 21% from the previous quarter.
Operating costs exceeded revenue by $54.1M, an operating margin of -14.7%. Total costs grew 6% against a revenue fall of 1%. The quarter ended with a net loss of $417.0M, wider than the previous quarter's $14.7M loss. Net interest and other expense of $329.8M was the main reason.
Operating cash flow was $63.9M (up 48% year over year). Non-cash charges added back $5.9M of share-based compensation. Working capital and other items added $475.0M. Capital expenditures of −$178.8M left free cash flow of $242.7M.
Questions
What was Callaway Golf's revenue in the fourth quarter 2025?
Callaway Golf (CALY) reported revenue of $368M for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and -21% from the quarter before.
Was Callaway Golf profitable in the fourth quarter 2025?
Operating loss was $54.1M (-14.7% of revenue) and net loss $417M.
Source: Callaway Golf 10-K on SEC EDGAR.