--- title: "TruGolf | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 5.02 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/287115785.md" datetime: "2026-05-20T20:33:12.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287115785.md) - [en](https://longbridge.com/en/news/287115785.md) - [zh-HK](https://longbridge.com/zh-HK/news/287115785.md) generator: "portal-rs" --- # TruGolf | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 5.02 M Revenue: As of FY2026 Q1, the actual value is USD 5.02 M, beating the estimate of USD 4.5 M. EPS: As of FY2026 Q1, the actual value is USD -2.75. EBIT: As of FY2026 Q1, the actual value is USD -1.142 M. #### Segment Revenue TruGolf Holdings, Inc. operates as a single business segment, manufacturing and selling indoor golf simulators. Golf Simulators revenue was $3,664,866 for the three months ended March 31, 2026, a decrease of $228,321 compared to $3,893,187 in the prior year period. Content Software Subscriptions generated $1,190,955 for the three months ended March 31, 2026, compared to $1,159,705 in the prior year period. Franchise Revenue was $0 for the three months ended March 31, 2026, down from $13,125 in the prior year period. Other Revenue amounted to $164,441 for the three months ended March 31, 2026, compared to $171,808 in the prior year period. Total net revenue decreased by $217,563, or 4.2%, to $5,020,262 for the three months ended March 31, 2026, from $5,237,825 in the prior year period. #### Operational Metrics Cost of Revenues increased by $537,152, or 29.8%, to $2,337,266 for the three months ended March 31, 2026, from $1,800,114 in the prior year period, partly due to an allocation of $229,649 in warehouse employee salaries and wages and a $165,199 increase in shipping costs. Total Gross Profit was $2,682,996 for the three months ended March 31, 2026, compared to $3,437,711 in the prior year period. Total Operating Expenses decreased by $694,360, or 14.9%, to $3,977,575 for the three months ended March 31, 2026, from $4,671,935 in the prior year period. Salaries, Wages and Benefits decreased by $1,153,405, or 59.2%, to $793,411 for the three months ended March 31, 2026, from $1,946,816 in the prior year period, reflecting a significant increase in capitalized software development costs. Selling, General and Administrative (SG&A) expenses increased by $459,045, or 16.8%, to $3,184,164 for the three months ended March 31, 2026, from $2,725,119 in the prior year period, driven by increased amortization expense related to capitalized software costs, rent expense, and professional fees. Loss from Operations was - $1,294,579 for the three months ended March 31, 2026, compared to - $1,234,224 in the prior year period. Other Income (Expenses) decreased by $1,283,383, or 89.4%, to - $152,715 for the three months ended March 31, 2026, from - $1,436,098 in the prior year period, primarily due to the elimination of interest obligations from PIPE Convertible Notes and the settlement of dividend notes payable. Net Loss was - $1,447,294 for the three months ended March 31, 2026, compared to - $2,670,322 in the prior year period. Depreciation and Amortization totaled $491,896 for the three months ended March 31, 2026, compared to $115,300 in the prior year period. Amortization of Capitalized Software Development Costs was $469,213 for the three months ended March 31, 2026, compared to $100,000 in the prior year period. TruGolf Holdings, Inc. recorded $64,343 in inventory valuation adjustments during the three months ended March 31, 2026, due to a transition to a new accounting system. As of March 31, 2026, an Allowance for Current Expected Losses of $1,611,930 was recorded against gross accounts receivable of $2,926,767, representing a reserve rate of 55.1%. #### Cash Flow Net cash used in operating activities was - $122,196 for the three months ended March 31, 2026, compared to - $449,119 in the prior year period, primarily due to favorable changes in working capital. Net cash used in investing activities was - $1,144,302 for the three months ended March 31, 2026, compared to - $334,690 in the prior year period, mainly due to increased capitalized costs for software development. Net cash used in financing activities was - $366,095 for the three months ended March 31, 2026, a decrease from net cash provided of $2,517,552 in the prior year period, primarily due to $2,520,000 in cash proceeds from Convertible PIPE Notes in 2025. Cash, cash equivalents and restricted cash at the end of the period were $10,936,670 as of March 31, 2026, compared to $12,615,820 as of March 31, 2025. Cash paid for Interest was $0 for the three months ended March 31, 2026, compared to $108,993 in the prior year period. #### Unique Metrics TruGolf Holdings, Inc. had a working capital deficit of - $1,282,452 as of March 31, 2026, compared to a working capital surplus of $1,076,496 as of December 31, 2025. Capitalized Software Development Costs, net, totaled $4,230,512 as of March 31, 2026, with $1,066,064 capitalized during the period. Related Party Notes Payable amounted to $2,250,000 as of March 31, 2026, including a $650,000 note to ARJ Trust and a $1,600,000 loan from the CEO. Under a stock repurchase program ending May 28, 2026, the company purchased 249,000 shares at an average price of $0.83 in January 2026 and 190,208 shares at an average price of $0.73 in February 2026, with approximately $1,653,497 remaining available for repurchase as of March 31, 2026. #### Future Outlook and Strategy TruGolf Holdings, Inc. anticipates continued operating losses and negative cash flows from operations in 2026 as it executes its development plans and strategic initiatives. The company plans to fund these losses through the sale of equity and convertible notes. Management also reviews inventory for impairment quarterly, considering the risk of rapid changes in product technology and customer demand. ### Related Stocks - [TRUG.US](https://longbridge.com/en/quote/TRUG.US.md) ## Related News & Research - [TruGolf Faces Nasdaq Compliance Pressure Amid Equity Actions](https://longbridge.com/en/news/296657998.md) - [TruGolf To Acquire Canada's Polymath Research](https://longbridge.com/en/news/296237306.md) - [INVEST: Revenue and profit dropped sharply in H1 2026, with 2026 outlook remaining subdued](https://longbridge.com/en/news/296439091.md) - [Xcel Energy sets BRL 0.26 per unit distribution for payment Oct. 26, 2026](https://longbridge.com/en/news/296646864.md) - [Public Storage announces R$ 0.41 per unit dividend for Q3 2026](https://longbridge.com/en/news/296635332.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**