Newton Golf Company, formerly Sacks Parente, reported preliminary results for the third quarter ended September 30 showing sales expected in the range of $1.15 million to $1.25 million against $95,000 in the year-ago quarter. Sequentially, sales grew 48 percent at the midpoint of the range over $813,000 in the second quarter.
Gross margin in the quarter is expected in the range of 63 to 67 percent in 3Q24, driven by increased volume in manufacturing and compared to 41 percent in 3Q23.
Other highlights of the quarter include:
- Announced a complete rebranding of the company.
- Launched the new Gravity Premium putter line with the introduction of five models.
- Expanded the company’s global presence with the launch of the Newton Motion shafts in Japan in 50 of its largest golf retail locations.
- Closed on $732,000 of underwritten public offering of shares of common stock.
- Increased the number of professionals using the Newton Motion Shafts on the PGA TOUR Champions to 34, generating greater exposure.
- Executed successful digital campaigns.
- Introduced the new advanced performance shafts for higher swing speeds.
Newton Golf’s Executive Chairman Greg Campbell 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.”
