TruGolf Holdings Trades Up 70% After Q2 Revenue Climbs 34%
Shares of TruGolf Holdings (NASDAQ: TRUG) rose roughly 70% in premarket trading, three sessions after the indoor golf company filed second quarter results showing higher revenue and a much smaller loss.
Net revenue reached $5.79 million for the quarter ended June 30, up 34.4% from $4.31 million a year earlier. Gross profit nearly doubled to $3.47 million. Loss from operations narrowed to $222,006 from $1.87 million. Net loss came in at $447,808, down from $3.32 million.
Software subscriptions led the growth
Content software subscriptions generated $2.82 million in the quarter, up from $341,443 a year earlier. Golf simulator hardware contributed $2.72 million. Gross margin widened to roughly 60% from 41% as cost of revenue declined 8.3% year over year.
The Centerville, Utah company designs and sells portable, professional, commercial, and custom simulators alongside its E6 Connect and E6 GOLF software platforms. Management pointed to higher product acceptance and increased revenue recognition from product sales as the drivers of the quarter.
Franchise network keeps signing venues
TruGolf Links, the company’s franchising subsidiary, has been adding locations through 2026. A Chicagoland regional developer signed a lease in July for a Romeoville, Illinois flagship built around an “eatertainment” format, following a Miller Place, New York location announced in June. Franchise revenue recognized in the quarter was $75,000.
What investors are watching
TruGolf ended the quarter with $8.47 million in cash and a working capital deficit of $2.35 million. Class A shares outstanding stood at 1,903,708 as of August 12, up from 422,899 at year end, reflecting Series A preferred conversions.
The stock has closed below $1.00 since July 31. The company said in its filing that because it completed a 1-for-10 reverse split in March, it would not be eligible for the standard compliance period under Nasdaq’s bid price rule and could receive a delisting determination, which it would be entitled to appeal.
A putative class action and derivative complaint filed July 24 in the District of Utah covers purchasers of Class A stock between September 10, 2025 and May 20, 2026.
