Newton Golf Company is the latest active lifestyle company to provide preliminary financial results for its most recent quarter, but, in this case, the company is not planning to come up short.
The golf technology and equipment manufacturer has forecasted that its fourth-quarter revenue would be between $1.1 million and $1.3 million, an increase of 882 percent at the midpoint of the range from revenue of $117,000 in the 2023 fourth quarter. The company expects its gross margin to increase from 36 percent of sales in Q4 2023 to approximately 72 percent to 74 percent in Q4 2024, reportedly driven by “increased sales and efficiencies in the manufacturing process in calendar 2024.”
For the full year, Newton Golf Company expects revenues to increase from $349,000 in fiscal 2023 to between $3.4 million and $3.6 million in 2024, representing almost tenfold growth. The company expects full-year gross margin to increase from 35 percent in fiscal 2023 to approximately 65 percent to 67 percent in 2024, driven by increased manufacturing volume in calendar 2024.
“Our expected improved results in 4Q24 and full year 2024 is reflective of the growing acceptance of our unique technology and design elements in our putters and replacement shafts,” shared company Executive Chairman Greg Campbell. “We recognized significantly increased sales of our Newton Motion replacement shafts throughout 2024 from both professional and recreational golfers, and we expect that momentum to continue in 2025.
“Despite it being generally off-season for golf, we were pleased with our Black Friday and Cyber Monday sales, and we look forward to improved gross margin performance as we scale production and bring down unit cost,” continued Campbell.
