Filing Flows › TruGolf Holdings (TRUG) › Q4 2025
TruGolf Holdings (TRUG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Apr 15, 2026
TruGolf Holdings (TRUG) reported revenue of $5.1M for the fourth quarter 2025 (Q4 2025), -25% from a year earlier and +24% from the quarter before. Operating margin was -37.2%, net loss $2.0M (38.6% of revenue).
TruGolf Holdings, Q4 2025: revenue $5.1M (-25% year over year), operating margin -37.2%, net loss $2.0M, operating cash flow $280K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $5.1M | +24% | -25% |
| Operating profit | −$1.9M | — | — |
| Net earnings | −$2.0M | — | — |
| Operating cash flow | $280K | — | — |
| Free cash flow | $173K | — | — |
What changed
Revenue was $5.1M in Q4 2025, down 25% year over year and up 24% from the previous quarter.
Gross margin was 21.6%, down 36.9 points from Q4 2024. Operating costs exceeded revenue by $1.9M, an operating margin of -37.2%. Operating expenses fell 43% while revenue fell 25%. The fastest-growing cost line was SG&A (+85%). The quarter ended with a net loss of $2.0M, narrower than the previous quarter's $7.3M loss.
Operating cash flow was $280K. Non-cash charges added back $384K of depreciation and amortization and $1K of share-based compensation. Working capital and other items added $1.9M. Capital expenditures of $107K left free cash flow of $173K.
Questions
What was TruGolf Holdings' revenue in the fourth quarter 2025?
TruGolf Holdings (TRUG) reported revenue of $5.1M for the fourth quarter 2025 (Q4 2025), -25% from a year earlier and +24% from the quarter before.
Was TruGolf Holdings profitable in the fourth quarter 2025?
Operating loss was $1.9M (-37.2% of revenue) and net loss $2.0M.
Source: TruGolf Holdings 10-K on SEC EDGAR.