Business Wire·Nov 12, 2026, 8:31 AM ET

Newton Golf Reports Third Quarter 2026 Results, Expands 2.0 Shaft Rollout and Advances Retailer Discussions

NWTG

Newton Golf Company reported third-quarter 2026 net sales of $1.4 million, a 47% decrease from $2.6 million in the prior-year period, driven by reduced marketing activity during a transition to a new agency.
Gross profit for the quarter was $820,000 (59.9% of sales), down from $1.7 million in the prior year, as lower sales volumes increased the labor cost percentage while the workforce remained stable.
Total operating expenses decreased to $2.2 million from $3.2 million in the prior year, primarily due to $0.8 million in lower sales and marketing costs.
The company reported a net loss of $1.2 million ($0.23 per share) for the quarter, an improvement from $1.6 million in the prior year, aided by a noncash gain on warrant liabilities.
Cash and cash equivalents stood at $513,000 at September 30, 2026, though the company subsequently raised approximately $3.0 million through equity financings.
Stockholders' equity was reported at $1.1 million at quarter-end, with management estimating a pro forma equity of approximately $5.2 million after subsequent transactions.
Operational highlights included the shipment of 2.0 Fast Motion shafts, expanded professional adoption to over 80 golfers, and a fitter network growth to 301 accounts.
The company acquired an option for the Pole Canyon Project in Nevada for $1.3 million in stock plus assumed cash payments, recording the asset at a total cost of $1.474 million.
On October 6, 2026, the company received a Nasdaq notice regarding non-compliance with the $2.5 million minimum stockholders' equity requirement, with a hearing scheduled for November 12, 2026.
Subsequent events included $1.4 million from ATM sales, $1.2 million from private placements, and a $500,000 preferred stock issuance, alongside a debt conversion that reduced outstanding debt by $1 million.
The company plans to launch a dedicated marketing campaign for the 2.0 platform in November 2026, with new Fast Motion fairway wood and hybrid shafts expected to launch commercially in Q1 2027.