A B2i Digital Featured Company, NEWTON GOLF: A Sacks Parente Company (Nasdaq: SPGC), has released preliminary financial results for the third quarter of 2024 ahead of its full quarterly report, expected in mid-November 2024.
Financial and Operational Highlights for Third Quarter 2024:
- Revenue of $1,150,000 – $1,250,000, representing a 1,163% increase at the midpoint of the range from Q3 2023 and a 48% sequential increase at the midpoint of the range from Q2 2024.
- Gross margin of 63-67%, up from 41% in Q3 2023, driven by higher manufacturing volume.
- Announced a complete rebranding of the Company.
- Launched the Gravity Premium putter line, introducing five new models.
- Expanded distribution with Newton Motion shafts available in 50 retail locations in Japan.
- Gained increased traction on the PGA TOUR Champions, with 34 players now using Newton Motion shafts.
- Completed a $732,000 public offering of shares.
Greg Campbell, Executive Chairman of NEWTON GOLF, commented: “Our third quarter was marked by continued momentum in the sales of our Newton Motion replacement driver shafts and the first full quarter of revenue from our fairway woods replacement shafts. The continued traction we are seeing from professional golfers, highlighted by 34 Champions TOUR players now using the Newton Motion shafts, gives us confidence that our technology-forward approach to design is the proper cornerstone of our product development strategy. Additionally, a recent launch of our putter line that now carries the NEWTON GOLF Gravity brand can potentially add to our growth trajectory.”
NEWTON GOLF is a technology-driven golf brand that delivers high-performance equipment to golfers worldwide. Its growing portfolio includes putters, golf shafts, grips, and other golf-related accessories. The company is known for innovations such as the Vernier Acuity putter and Ultra-Low Balance Point (ULBP) technology, which help golfers enhance their game. NEWTON GOLF manufactures its products primarily in the U.S., with a facility in St. Joseph, Missouri, and distributes them through resellers, its website, Club Champion retail stores, and distributors in the U.S., Japan, and South Korea.
NEWTON GOLF is a subsidiary of Sacks Parente Golf, and investor-related activities are conducted under the SPGC ticker on Nasdaq.
See Preliminary Financial Results for the Third Quarter of 2024 https://lnkd.in/eNcB4XYd Contact the company’s investor relations team with any questions at investors@sacksparente.com.
Newton Golf Shafts Sacks Parente Golf #NewtonGolf #SPGC #B2iDigital #GolfInnovation #PGA #Q3Results