Filing Flows › TruGolf Holdings (TRUG) › Q1 2025
TruGolf Holdings (TRUG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 15, 2025
TruGolf Holdings (TRUG) reported revenue of $5.4M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -20% from the quarter before. Operating margin was -22.9%, net loss $2.7M (49.5% of revenue).
TruGolf Holdings, Q1 2025: revenue $5.4M (+8% year over year), operating margin -22.9%, net loss $2.7M, operating cash flow −$449K. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.4M | -20% | +8% |
| Operating profit | −$1.2M | — | — |
| Net earnings | −$2.7M | — | — |
| Operating cash flow | −$449K | — | — |
What changed
Revenue was $5.4M in Q1 2025, up 8% year over year and down 20% from the previous quarter. Golf Simulators was the largest line at 67% of revenue. Golf Simulators added $863K year over year (up 32%), 229% of the total change. Content Software Subscriptions declined 48%.
Gross margin was 68.0%, up 7.1 points from a year earlier. Operating costs exceeded revenue by $1.2M, an operating margin of -22.9%. Operating expenses grew 23% against revenue growth of 8%. The fastest-growing cost line was SG&A (+49%). The quarter ended with a net loss of $2.7M, narrower than the previous quarter's $5.9M loss. Net interest and other expense of $1.4M was the main reason.
Operating cash flow was −$449K. Non-cash charges added back $115K of depreciation and amortization and $3K of share-based compensation. Working capital and other items added $2.1M. Capital expenditures of $64K exceeded it, leaving free cash flow of −$513K.
Questions
What was TruGolf Holdings' revenue in the first quarter 2025?
TruGolf Holdings (TRUG) reported revenue of $5.4M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -20% from the quarter before.
Was TruGolf Holdings profitable in the first quarter 2025?
Operating loss was $1.2M (-22.9% of revenue) and net loss $2.7M.
Source: TruGolf Holdings 10-Q on SEC EDGAR.