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Unless otherwise indicated or the context requires otherwise, the terms we, us, our, and our company refer to TruGolf Holdings, Inc., a Nevada corporation ( TruGolf ), and its wholly owned subsidiaries, including TruGolf, Inc., a Nevada corporation ( TruGolf Nevada ) and TruGolf Links Franchising, LLC ( Links ), a Delaware limited liability company. Our Business Our Corporate and Acquisition Hi…
The business is unprofitable at the operating level (-32.32% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 13.6% YoY. Margins deteriorated 22.7pp alongside, both lines moving the wrong way.
ROIC dropped from -45.33% to -80.03%, capital efficiency is deteriorating. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$19M
▼ -13.6% YoY
Net Income (TTM)
-$14M
▼ -73.1% YoY
Op. Margin
-33.29%
▼ -22.7pp YoY
ROIC
-62.75%
▼ -34.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$2M
▲ +52.8% YoY
Op. Cash Flow (TTM)
-$1M
▲ +57.5% YoY
Net Debt
-$6M
Net Cash Position
Cash & Equiv.
$9M
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