Newton Golf Reports Q1 2026 Results

About this update from Newton Golf Company, Inc.

Newton Golf Company, Inc. (NASDAQ: NWTG) (the “Company”), a technology-forward golf equipment company focused on physics-driven engineering, reported results for the first quarter ended March 31, 2026. All comparisons are to the same year-ago period unless otherwise noted. Financial Highlights Net sales totaled $991,000 for the first quarter of 2026 as the Company continued executing operational initiatives intended to support long-term manufacturing scalability, expanded product offerings, and future growth opportunities. These initiatives temporarily impacted shipment timing on certain customer orders during the quarter. Direct-to-consumer (DTC) customer deposits totaled $0.9 million and open wholesale sales orders totaled $0.3 million at quarter end, which collectively represent $1.2 million of expected future revenue upon shipment of the related orders. The increase in customer deposits reflects continued customer demand, including advance payments associated with orders delayed during the manufacturing transition period. Returning customer orders increased 47% to 1,253 for the three months ended March 31, 2026, compared to the same period last year, reflecting increased repeat purchasing activity. Cash and cash equivalents totaled $593,000 at March 31, 2026, compared to $1.3 million at December 31, 2025. During the quarter, the Company entered into a securities purchase agreement for the sale in one or more closings of up to $2.0 million of convertible notes with a fixed conversion price of $1.60 and warrants to purchase shares of common stock at an exercise price of $1.75 per share. The first closing occurred on March 16, 2026, pursuant to which the Company issued to entities affiliated with a Company director a $500,000 convertible note that bears interest at a rate of 10% annually and matures in 18 months, along with a five-year warrant to purchase 50,000 shares of common stock. Subsequent to quarter end, the Company issued an additional $850,000 of convertible notes to unrelated third-party investors pursuant to the same financing arrangement. Management believes these financings, together with the Company’s existing ATM facility, provide additional flexibility to support working capital needs, operational scaling initiatives, and future growth opportunities while maintaining what management believes are relatively shareholder-aligned financing t...

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