Filing Flows › TruGolf Holdings (TRUG) › Q2 2025
TruGolf Holdings (TRUG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 19, 2025
TruGolf Holdings (TRUG) reported revenue of $4.3M for the second quarter 2025 (Q2 2025), +11% from a year earlier and -20% from the quarter before. Operating margin was -43.4%, net loss $3.3M (77.0% of revenue).
TruGolf Holdings, Q2 2025: revenue $4.3M (+11% year over year), operating margin -43.4%, net loss $3.3M, operating cash flow −$905K. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.3M | -20% | +11% |
| Operating profit | −$1.9M | — | — |
| Net earnings | −$3.3M | — | — |
| Operating cash flow | −$905K | — | — |
What changed
Revenue was $4.3M in Q2 2025, up 11% year over year and down 20% from the previous quarter. Golf Simulators was the largest line at 74% of revenue. Golf Simulators added $1.4M year over year (up 74%), 313% of the total change. Content Software Subscriptions declined 83%.
Gross margin was 44.4%, down 22.1 points from a year earlier. Operating costs exceeded revenue by $1.9M, an operating margin of -43.4%. Operating expenses grew 13% against revenue growth of 11%. The fastest-growing cost line was SG&A (+31%). The quarter ended with a net loss of $3.3M, wider than the previous quarter's $2.7M loss.
Operating cash flow was −$905K. Non-cash charges added back $298K of depreciation and amortization and $3K of share-based compensation. Working capital and other items added $2.1M. Capital expenditures of −$18K exceeded it, leaving free cash flow of −$887K.
Questions
What was TruGolf Holdings' revenue in the second quarter 2025?
TruGolf Holdings (TRUG) reported revenue of $4.3M for the second quarter 2025 (Q2 2025), +11% from a year earlier and -20% from the quarter before.
Was TruGolf Holdings profitable in the second quarter 2025?
Operating loss was $1.9M (-43.4% of revenue) and net loss $3.3M.
Source: TruGolf Holdings 10-Q on SEC EDGAR.