TruGolf Holdings, Inc., is expecting to report strong revenues for the second half of 2024, driven in part by new revenues from its franchising business, TruGolf Links, and market adoption of new products launched earlier this year.
“We have seen a strong lift in interest, leads, and closes in Q2 and Q3, which has us excited for the dynamic growth ahead of TruGolf,” said Chris Jones, CEO and director at the provider of golf simulator software and hardware. “The launch of our franchise concept has been very well received in the market, and we expect it to continue growing in the years ahead. Additionally, our recently launched hardware and software products are finding broad market acceptance as a leading provider of golf simulator equipment. The combination of franchising and growing product sales should lead to strong revenues in the second half of 2024.”
Outlook
- Total sales are expected to grow by 8 percent to 12 percent by the end of 2024 as compared to 2023 levels.
- EBITDA for the second half should be greater than $500,000, showing a profitability return.
“We are proud of our team for their hard work in the transition to becoming a public company,” Jones continued. “In addition, we added both an interim Comptroller and additional outside accounting staff to reinforce the team in order to ensure timely monthly closings, audits and filing. As a result, we expect to report our third quarter results in the first half of November 2024.”
Image courtesy TruGolf
