TruGolf Holdings, Inc.
Business
TruGolf Holdings, Inc. is a golf technology company that designs, manufactures, and sells indoor golf simulation hardware, launch monitors, and software platforms. The company offers integrated products including the APOGEE and LaunchBox launch monitors, simulator systems ranging from portable to custom installations, and proprietary software platforms E6 CONNECT and E6 GOLF. TruGolf serves residential, commercial, entertainment, and instructional markets through direct sales and a network of resellers and distribution partners across the United States, Canada, and international regions including Europe, Australia, and Africa.
Summary from 10-K filed 2026-04-15
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Revenue, net | 19 | 21 | 21 | — | — | |
| Cost of revenue | 9 | 7 | 8 | — | — | |
| Total gross profit | 10 | 14 | 13 | — | — | |
| Salaries, wages and benefits | 5 | 9 | 10 | — | — | |
| Selling, general and administrative | 11 | 7 | 11 | — | — | |
| Total operating expenses | 16 | 16 | 21 | 2 | 409,912 | |
| Loss from operations | −6 | −2 | −9 | — | — | |
| Interest income | 265,708 | 106,400 | 108,011 | — | — | |
| Interest expense | −3 | −7 | −2 | — | — | |
| Gain on fair value adjustment | — | 142,319 | — | — | — | |
| Loss on extinguishment of debt | −6 | −270,594 | — | — | — | |
| Gain on investment | — | 262,035 | — | — | — | |
| Other income | 600 | — | — | — | — | |
| Total other expense | −9 | −7 | −2 | 2 | −4,133 | |
| Loss from operations before provision for income taxes | −15 | −9 | −10 | −342,663 | −414,045 | |
| Provision for income taxes | — | — | — | 57,569 | — | |
| Net loss | −15 | −9 | −10 | −400,232 | −414,045 | |
| Net loss per common share - basic | −51.39 | −377.98 | −857.35 | — | — | |
| Net loss per common share - diluted | −51.39 | −377.98 | −857.35 | — | — | |
| Weighted average shares outstanding - basic | 296,313 | 23,270 | 11,994 | — | — | |
| Weighted average shares outstanding - diluted | 296,313 | 23,270 | 11,994 | — | — |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2024 2024-06-30 | FY 2023 2023-12-31 | FY 2023 2023-03-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 10 | 9 | — | 3 | — | |
| Restricted cash | 2 | 2 | — | 2 | — | |
| Accounts receivable, net | 1 | 1 | — | 2 | — | |
| Inventory, net | 863,257 | 2 | — | 2 | — | |
| Prepaid expenses and other current assets | 985,076 | 116,619 | — | 262,133 | 20,408 | |
| Other current assets | — | 45,737 | — | — | — | |
| Total Current Assets | 15 | 15 | — | 13 | 10 | |
| Property and equipment, net | 355,499 | 143,852 | — | 234,308 | — | |
| Capitalized software development costs, net | 4 | 2 | — | — | — | |
| Right-of-use assets | 682,648 | 634,269 | — | 972,663 | — | |
| Other long-term assets | 31,023 | 31,023 | — | 2 | — | |
| Total Assets | 20 | 17 | — | 16 | 10 | |
| Accounts payable | 3 | 3 | — | 2 | — | |
| Deferred revenue | 6 | 3 | — | 2 | — | |
| Line of credit, bank | 802,738 | 802,738 | — | 802,738 | — | |
| Dividend notes payable | 118,362 | 4 | — | — | — | |
| Accrued interest | 594,590 | 661,376 | — | 459,872 | — | |
| Accrued and other current liabilities | 1 | 999,307 | — | 1 | — | |
| Accrued and other current liabilities - assumed in Merger | 45,008 | 45,008 | — | — | — | |
| Lease liability, current portion | 502,526 | 363,102 | — | 334,255 | — | |
| Total Current Liabilities | 14 | 16 | — | 11 | 3 | |
| PIPE loan payable, net | — | 4 | — | — | — | |
| Gross sales royalty payable | 1 | 1 | — | 1 | — | |
| Lease liability, net of current portion | 191,944 | 305,125 | — | 668,228 | — | |
| Total Liabilities | 16 | 22 | — | 20 | 7 | |
| Commitments and Contingencies (Note 20) | — | — | — | — | — | |
| Treasury stock at cost, 9 shares of common stock held, respectively | −2 | −2 | — | −2 | — | |
| Additional paid-in capital | 47 | 19 | — | 10 | — | |
| Accumulated deficit | −41 | −21 | — | −12 | −6 | |
| Total Stockholders Equity (Deficit) | 4 | −5 | 11 | −4 | −6 | |
| Total Liabilities and Stockholders Equity (Deficit) | 20 | 17 | — | 16 | 10 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-03-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 1 | 301,442 | 58,641 | — | — | |
| Amortization of convertible notes discount | 359,037 | 728,278 | 97,111 | — | — | |
| Amortization of right-of-use asset | 372,955 | 338,394 | 298,208 | — | — | |
| Change in fair value of derivative liability | — | −142,319 | — | — | — | |
| Bad debt expense | 82,137 | 826,207 | 681,479 | — | — | |
| Change in OCI | — | 1,662 | — | — | — | |
| Stock issued for make good provisions on debt conversion | 2 | 700,821 | — | — | — | |
| Stock options issued to employees | 11,139 | 538,323 | — | — | — | |
| Stock issued for services | — | 119,959 | 6 | — | — | |
| Accounts receivable, net | 256,312 | 173,512 | −1 | — | — | |
| Inventory, net | 1 | −230,261 | 2,396 | — | — | |
| Prepaid expenses | −868,457 | 145,514 | −114,385 | 294,898 | — | |
| Other current assets | 45,737 | −45,737 | 17,840 | — | — | |
| Other assets | — | 50,001 | −2 | — | — | |
| Accounts payable | −52,318 | 444,961 | 596,434 | — | — | |
| Deferred revenue | 2 | 1 | −1 | — | — | |
| Accrued interest payable | −66,786 | 201,504 | 615,582 | — | — | |
| Accrued and other current liabilities | 464,432 | −634,557 | 374,819 | — | — | |
| Other liabilities | −50,000 | −63,015 | 63,015 | — | — | |
| Lease liability | −395,092 | −334,256 | −269,848 | — | — | |
| Net cash used in operating activities | −2 | −4 | −6 | −1 | — | |
| Purchases of property and equipment | −205,443 | −36,339 | −127,413 | — | — | |
| Capitalized software, net | −3 | −2 | — | — | — | |
| Sale of short-term investments | — | 2 | — | — | — | |
| Net cash provided by (used in) investing activities | −3 | 741,143 | −3 | 120 | — | |
| Proceeds from PIPE loans, net of discount | 3 | 9 | — | — | — | |
| Proceeds from exercise of Series A Preferred warrants | 5 | — | — | — | — | |
| Proceeds from notes payable - related party | — | 2 | — | 1 | — | |
| Proceeds from investment fund (PIPE) | — | 2 | — | — | — | |
| Cash acquired in Merger | — | 103,818 | — | — | — | |
| Debt refinance conversion | — | 192,787 | — | — | 145,992 | |
| Costs of Merger paid from PIPE loan | — | −2 | — | — | — | |
| Repayments of line of credit | — | −2 | — | — | — | |
| Repayments of liabilities assumed in Merger | — | −100,000 | — | — | — | |
| Repayments of notes payable | −10,000 | −9,146 | −107,569 | — | — | |
| Repayments of notes payable - related party | −687,000 | −535,000 | −37,000 | — | — | |
| Net cash provided by financing activities | 7 | 9 | 4 | −120 | — | |
| Net change in cash, cash equivalents and restricted cash | 2 | 5 | −4 | −281,563 | — | |
| Interest | 108,993 | 923,975 | 1 | — | — | |
| Income taxes | — | — | — | — | — | |
| PIPE note principal converted to Class A Common Stock | 3 | 6 | — | — | — | |
| Dividend note principal converted to Class A and Class B Common Stock | 4 | — | — | — | — | |
| Exchange of PIPE Notes and Series A and B Warrants for Series A Convertible Preferred Stock and Warrants for Series A Convertible Preferred Stock | 6 | — | — | — | — | |
| Series A Convertible Preferred Stock issued in exchange of PIPE Notes | 5 | — | — | — | — | |
| Series A Convertible Preferred Stock dividends converted to Class A Common Stock | 5 | — | — | — | — | |
| Right-of-use assets obtained in exchange for operating lease liabilities (lease modification) | 421,334 | — | — | — | — | |
| Convertible notes exchanged for PIPE note | — | 2 | — | — | — | |
| Class A Common Stock exchanged in Merger | — | 4 | — | — | — | |
| Class A Common Stock issued in Merger | — | 1,154 | — | — | — | |
| Class B Common Stock issued in Merger | — | 172 | — | — | — | |
| Derivative liability related to warrants | — | 142,319 | — | — | — | |
| Termination of loan payable | — | 2 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is TruGolf Holdings, Inc.'s CIK number?
TruGolf Holdings, Inc.'s SEC CIK number is 0001857086 (1857086). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find TruGolf Holdings, Inc.'s SEC filings?
All of TruGolf Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did TruGolf Holdings, Inc. last report earnings?
TruGolf Holdings, Inc. (TRUG) most recently filed an earnings 8-K with the SEC on Feb 19, 2025, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001493152-25-007242). This is TruGolf Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is TruGolf Holdings, Inc.'s most recent earnings 8-K?
TruGolf Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed Feb 19, 2025 under accession 0001493152-25-007242. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View TruGolf Holdings, Inc.'s latest earnings 8-K →
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