Newton Golf Reports Record 2025 Net Sales Growth of 136% to $8.1 Million, Driven by Adoption of Newton Motion™ Shaft Platform

CAMARILLO, Calif.--(BUSINESS WIRE)--Newton Golf Company, Inc. (NASDAQ: NWTG), a technology-forward golf equipment innovator applying physics-driven engineering to golf performance, reported results for the quarter and year ended December 31, 2025. All comparisons are to the same year-ago period unless otherwise noted.

Financial Highlights

• For the full year, net sales increased 136% to a record $8.1 million.
• Fourth quarter net sales increased 112% to $2.3 million, reflecting continued adoption of the Newton Motion™ shaft product line across both direct-to-consumer and professional club-fitting channels.
• Achieved the company’s highest single-day sales total in history on Black Friday, driven by continued demand across the Fast Motion™ and Motion™ shaft platform.
• Repeat customers in 2025 represented 26.7% of gross direct-to-consumer (DTC) orders, up 36% from 2024, reflecting increased customer engagement and strengthened brand loyalty.
• Cash and cash equivalents totaled $1.3 million at December 31, 2025, compared to $2.5 million at September 30, 2025. Subsequent to year end, 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 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, where 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.

2025 Operational Highlights

• Ranked the No. 1 selling shaft brand for both drivers and fairway woods at Club Champion, reflecting increased adoption among professional club fitters, supporting broader distribution opportunities across the professional fitting channel.
• Expanded the company’s professional club fitter network to approximately 230 locations, an increase of 130% from 2024, strengthening the company’s channel presence across the premium fitting market.
• Surpassed 60 professional golfers playing Newton shafts across PGA TOUR Champions, LPGA, and Korn Ferry Tours, more than doubling from 30 players in 2024.
• Increased brand visibility at global competitions with several players using Newton shafts at the 2025 World Long Drive Championship, including Tanner Pipes, who captured the Men’s Amateur title with a 396-yard drive.
• Introduced the Fast Motion™ driver shaft, expanding the company’s premium driver shaft lineup and extending the Newton Motion™ shaft platform across multiple swing-profile configurations.
• Launched a dedicated Japanese e-commerce platform, www.newtongolf.jp, enabling direct access to customers in one of the world’s largest golf equipment markets.
• Appointed Jeff Clayborne as Chief Financial Officer and, effective January 30, 2026, expanded his role to Chief Operating Officer to include oversight of manufacturing and operational functions supporting the company’s scaling manufacturing and operational platform.

Subsequent Event

As disclosed in the company’s Form 8-K filed yesterday, Co-Founder and Chief Technology Officer Akinobu Yorihiro has been appointed Interim Chief Executive Officer, effective March 27, 2026, succeeding Greg Campbell. Dr. Campbell will continue to serve as a member of the Board of Directors.

In addition, Director Brett Hoge has been appointed Chairman of the Board and will continue to serve as a member of the Board in his capacity as Chairman.

Management Commentary

“In 2025, our record top-line results were driven by strong growth in our direct-to-consumer sales channel, increased adoption by professional club fitters, and expansion of our Newton Motion™ technology-driven shaft product line,” said Newton Golf Interim CEO and CTO, Akinobu Yorihiro. “We expanded our direct-to-consumer channel through our websites, supported by improvements in digital marketing efficiency, higher conversion rates, and increasing repeat customer purchases.

Our direct-to-consumer growth included achieving record single-day sales on Black Friday, reflecting strong consumer demand across key product lines. These results were supported by continued investments in marketing, personnel, and operational systems to support revenue growth and the scaling of the Newton brand.”

Newton Golf CFO and recently appointed COO Jeff Clayborne stated: “During 2025, we formalized demand planning and production scheduling processes to better align manufacturing capacity with anticipated demand and improve operating efficiency as production volumes increase. In support of these initiatives, we enhanced costing procedures, bill-of-materials management, and inventory verification activities, including more frequent cycle counts and expanded physical inventory reviews. Our U.S.-based shaft manufacturing facility provides the flexibility and capacity to support continued growth while maintaining engineering control over product quality and supply chain timing.”

Mr. Yorihiro added: “Subsequent to year end, we introduced several new shaft configurations at the 2026 PGA Show in Orlando, including the Fast Motion™ fairway wood shaft, dedicated hybrid shafts across our product offerings, and refined 2026 versions of our existing Fast Motion™ and Motion™ driver and fairway shafts.

“In addition to expanding our product lineup, we strengthened our international presence through an exclusive distribution agreement with VC Inc. (VOICE CADDIE) for wholesale and retail distribution in South Korea. VOICE CADDIE brings strong market knowledge and established distribution capabilities in one of the world’s leading premium golf equipment markets.

“According to the National Golf Foundation and The R&A, golf participation remains elevated relative to historical levels, with approximately 47 million golfers in the United States and more than 64 million golfers worldwide, supporting long-term demand for performance golf equipment.

“We believe Newton Golf remains in the early stages of scaling the Newton Motion™ shaft platform. Continued adoption across professional club fitters, retail partners, and international distributors, together with expansion of our shaft configuration lineup, positions the company to pursue sustained revenue growth while leveraging our existing manufacturing infrastructure.”

Full Year 2025 Financial Summary

Net sales in 2025 totaled $8.1 million, up 136% from $3.4 million in 2024. The increase was primarily driven by strong demand for the company’s Newton Motion™ shaft product line and continued growth in its direct-to-consumer channel.

Gross profit totaled $4.6 million or 56% of net sales as compared to $2.3 million or 66% of net sales in 2024. The decrease in gross margin was primarily attributable to additional labor cost driven by incremental full-time employees, an increase in temporary labor, and overtime to meet increased demand.

Total operating expenses increased to $12.1 million compared to $7.3 million in 2024. The increase primarily reflected higher marketing, personnel, and public company operating costs supporting the company’s sales growth and business development initiatives, as well as continued investment in research and development related to the company’s shaft technology platform. Operating expenses also included increased professional services related to the optimization and enhancement of enterprise systems, including NetSuite, AfterShip, demand-planning tools, and related system integrations intended to improve inventory accuracy, operational efficiency, and support future scalability.

Net loss for 2025 totaled $6.0 million or $1.63 per share, compared to a net loss of $11.8 million or $178.33 per share in 2024.

Cash and cash equivalents totaled $1.3 million at December 31, 2025. Subsequent to year end, 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 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, where 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.

During 2025, holders exercised substantially all of the Series B warrants issued in connection with the company’s December 2024 financing transaction led by Aegis Capital Corp., resulting in the issuance of approximately 4.2 million shares of common stock. During the year, the company also retired approximately 200,400 shares previously repurchased in open-market transactions. As of the date of this release, 16,849 Series B warrants remain outstanding, which could result in the issuance of up to approximately 288,000 additional shares if exercised.

Q4 2025 Financial Summary

Revenue in the fourth quarter of 2025 totaled $2.3 million, up 112% from $1.1 million in the prior-year quarter. The increase was primarily driven by strong demand for the company’s Newton Motion™ shaft product line and continued growth in its direct-to-consumer channel.

Gross profit totaled approximately $0.6 million or 25% of revenue in the fourth quarter as compared to approximately $0.8 million, or 72% of revenue in the prior-year quarter. The decrease was primarily attributable to an inventory adjustment recorded during the quarter, together with higher labor costs associated with meeting increased demand. The inventory adjustment reflects enhancements to the company’s inventory verification and costing procedures implemented during the year.

Total operating expenses increased to $3.1 million compared to $2.2 million in the prior-year quarter. The increase primarily reflected higher marketing, personnel, and public company operating costs supporting the company’s sales growth and business development initiatives, as well as continued investment in research and development related to the company’s shaft technology platform.

Net loss for the fourth quarter of 2025 totaled $2.4 million or $0.52 per share, compared to a net loss of $8.3 million or $76.66 per share in the prior-year quarter.

Conference Call

Newton Golf will hold conference call later today to discuss results for the fourth quarter and its full year 2025 results, including a question-and-answer period.

Date: Tuesday, March 31, 2026
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Toll-free dial-in number: 1-877-407-0752
International dial-in number: 1-201-389-0912
Webcast (live and replay): here
Conference ID: 13759171

Participants may dial in using the numbers above and ask to be joined to the call or click the Call me™ link for instant telephone access to the event. Participants may submit questions via the webcast player in advance of the call.

Please call the conference telephone number five minutes prior to the start time. An operator will register your name and organization. If you require any assistance connecting to the call, please contact Encore at 1-949-432-7450.

A replay of the call will be available approximately three hours after the call and will remain available through April 14, 2026.

Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13759171

About Newton Golf

At Newton Golf, we apply the principles of physics to the design and performance of premium golf equipment. Formerly known as Sacks Parente, our rebranding reflects our commitment to innovation inspired by Sir Isaac Newton, the father of physics. By applying Newtonian principles to every aspect of our design process, we create precision-engineered golf equipment-including Newton Motion shafts and Gravity putters-that delivers unmatched stability, control, and performance. Our mission is to empower golfers with scientifically advanced tools that maximize consistency and accuracy, ensuring every swing is backed by the laws of physics. For more information, visit newtongolf.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or the future financial performance of Newton Golf Company (the “Company”) and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such statements.

In some cases, forward-looking statements can be identified by words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “intends,” “believes,” “estimates,” “projects,” “potential,” or similar expressions. These forward-looking statements include, but are not limited to, statements regarding the Company’s growth strategy, product innovation and development, expansion of distribution channels, brand adoption among professional fitters and golfers, anticipated market opportunities, and future business prospects.

These forward-looking statements reflect the Company’s current expectations and projections based on information available as of the date of this release and are subject to a number of risks and uncertainties, including, but not limited to, general economic and business conditions; changes in consumer demand and industry trends; competition in the golf equipment market; the Company’s ability to execute its strategic initiatives; supply chain disruptions; and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.

The Company cautions investors that forward-looking statements are not guarantees of future performance, and actual results may differ materially from those projected. The Company undertakes no obligation to update or revise any forward-looking statements, except as required by law.

NEWTON GOLF COMPANY, INC. STATEMENTS OF OPERATIONS (Amounts rounded to nearest thousands, except share and per share amounts) (unaudited)
	For the Three Months Ended December 31									For the Year Ended December 31
		2025			2024			Fav / (Unfav)			2025			2024			Fav / (Unfav)
Net sales	$	2,274,000		$	1,073,000		$	1,201,000		$	8,135,000		$	3,445,000		$	4,690,000
Cost of goods sold		1,706,000			296,000			1,410,000			3,581,000			1,171,000			2,410,000
Gross profit	$	568,000		$	777,000		$	(209,000	)	$	4,554,000		$	2,274,000		$	2,280,000
Operating Expenses:
Selling, general and administrative		2,962,000			2,178,000			784,000			11,323,000			6,509,000			4,814,000
Research and development expense		172,000			25,000			147,000			779,000			743,000			36,000
Total operating expenses		3,134,000			2,203,000			931,000			12,102,000			7,252,000			4,850,000
Loss from Operations	$	(2,566,000	)	$	(1,426,000	)	$	(1,140,000	)	$	(7,548,000	)	$	(4,978,000	)	$	(2,570,000	)
Other income (expense), net
Interest income, net		5,000			21,000			(16,000	)		99,000			161,000			(62,000	)
Financing costs					(6,913,000	)		6,913,000			-			(6,913,000	)		6,913,000
Change in fair value of warrant liabilities		166,000			(22,000	)		188,000			1,429,000			(22,000	)		1,451,000
Net Loss	$	(2,395,000	)	$	(8,340,000	)	$	5,945,000		$	(6,020,000	)	$	(11,752,000	)	$	5,732,000
Net loss per share - basic and diluted	$	(0.52	)	$	(76.66	)				$	(1.63	)	$	(178.33	)
Weighted average common shares outstanding - basic and diluted		4,610,422			108,798						3,701,444			65,899

NEWTON GOLF COMPANY, INC. BALANCE SHEETS (Amounts rounded to nearest thousands, except share amounts) (unaudited)
	December 31,			December 31,
	2025			2024
ASSETS
Current Assets
Cash and cash equivalents	$	1,298,000		$	7,650,000
Accounts receivable, net		102,000			115,000
Inventory, net of reserve for obsolescence of $135,000 and $49,000, respectively		374,000			913,000
Prepaid expenses and other current assets		413,000			274,000
Total Current Assets		2,187,000			8,952,000
Property and equipment, net		880,000			716,000
Right of use asset		84,000			34,000
Software licensing agreement, net		25,000			59,000
Deferred Offering Costs		123,000			-
Deposits		-			5,000
Total Other Assets		1,112,000			814,000
TOTAL ASSETS	$	3,299,000		$	9,766,000
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIENCY)
Current Liabilities
Accounts payable and accrued expenses	$	1,503,000		$	572,000
Lease liability, current		40,000			34,000
Software licensing obligation, current		41,000			54,000
Warrant Liability		745,000			14,261,000
Total Current Liabilities		2,329,000			14,921,000
Software licensing fee obligation, net of current		-			32,000
Lease liabilities, net of current		44,000			-
Total Liabilities		2,373,000			14,953,000
Shareholders’ Equity (Deficiency)
Preferred stock, par value $0.01, 5,000,000 shares authorized; no shares issued and outstanding, respectively		-			-
Common stock, par value $0.01, 45,000,000 shares authorized; 4,592,063 and 297,184 shares issued and outstanding, respectively		45,000			3,000
Additional paid-in capital		28,970,000			16,879,000
Accumulated deficit		(28,089,000	)		(22,069,000	)
Total Shareholders’ Equity (Deficiency)		926,000			(5,187,000	)
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIENCY)	$	3,299,000		$	9,766,000