Newton Golf Reports Q1 2026 Results
NWTG
Published on 05/14/2026 at 04:02 pm EDT
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
Q1 2026 Operational Highlights
Management Commentary
“During the quarter, we executed operational and manufacturing initiatives intended to support long-term production scalability, product consistency, and future growth opportunities as the Company continues expanding the Newton Motion platform across additional product categories and distribution channels,” said Newton Golf interim CEO and CTO, Akinobu Yorihiro.
“While these initiatives temporarily impacted shipment timing and near-term financial performance during the quarter, we believe these investments strengthened the Company’s manufacturing foundation and better positioned us to support future growth more efficiently as manufacturing utilization improves.
“As of quarter end, the Company had approximately $1.2 million of expected future revenue represented by customer deposits and open wholesale sales orders associated with delayed shipments during the manufacturing transition period. We have already begun shipping these orders and expect fulfillment activities to continue improving during the current quarter.
“We also enhanced manufacturing management and operational planning processes to support the continued scaling of production operations. During the quarter, we expanded operational oversight within management and added additional manufacturing leadership experience to support production scaling initiatives, future product launches, and enhanced manufacturing execution.
“In April, we hired a new head of manufacturing with more than 20 years of production and operational leadership experience to support manufacturing scalability and future operational growth initiatives. Management believes the operational improvements implemented during the quarter further position the Company to support higher-volume production requirements associated with larger distribution opportunities, including potential OEM and international channel relationships.
“At the 2026 PGA Show in January, we introduced the Fast Motion fairway wood shaft and hybrid shafts, which are expected to launch commercially in the third quarter of 2026. These product introductions expand the Newton Motion platform into additional club categories and further extend the Company’s DOT fitting system across the golf bag. The DOT system is designed to provide golfers with consistent shaft fitting characteristics across driver, fairway wood, and hybrid configurations, which management believes may improve fitting consistency and increase multi-shaft adoption.
“Management believes expanding the Newton Motion platform into additional club categories may increase average revenue opportunities per customer and improve marketing efficiency by leveraging existing customer acquisition investments across a broader product lineup.
“More than 60 professional golfers currently play Newton Motion and Fast Motion shafts across PGA TOUR, PGA TOUR Champions, LPGA, and Korn Ferry Tours, supporting continued brand awareness and fitting adoption among golfers and professional club fitters.
“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 established distribution capabilities and market knowledge in one of the world’s leading premium golf equipment markets. We have received a $136,000 order from the distributor during the quarter, which was more than the minimum order requirement under the distribution partnership, and we expect revenue from this order to be realized in the second quarter of 2026.
“Looking ahead, we anticipate the operational scaling initiatives implemented during the quarter to be substantially completed during the current quarter. As fulfillment activities and production volumes normalize, we expect to benefit from improved manufacturing efficiencies, increased utilization, and more stable production planning. Management expects manufacturing utilization and production efficiency to improve as these initiatives are completed, which may support improved operating leverage in future periods.
“Management believes the operational initiatives completed during the quarter may support improved manufacturing leverage and scalability as production volumes increase and the Company expands distribution across direct-to-consumer, professional fitting, retail, international, and potential OEM channels.
“We believe Newton Golf remains in the early stages of scaling its shaft platform across direct-to-consumer, professional fitting, retail, international, and potential OEM distribution channels.
“Following record net sales growth in 2025, we believe the Company remains positioned to continue expanding brand awareness, product adoption, and distribution opportunities as fulfillment activities improve and new product introductions expand across additional club categories.
“While the operational initiatives implemented during the first quarter temporarily impacted near-term financial performance, management believes these investments strengthened the Company’s operational foundation, enhanced production scalability, expanded the Newton Motion platform, and better positioned the Company to support future growth opportunities across both existing and emerging distribution channels.
“Management also expects the expanded product lineup and broader distribution footprint to support higher revenue opportunities per customer as adoption of the Newton Motion platform continues to expand.”
Q1 2026 Financial Summary
Revenue in the first quarter of 2026 totaled $1.0 million, down 18% from $1.2 million in the prior-year quarter. The decrease primarily reflected temporarily reduced manufacturing capacity and delayed order fulfillment associated with operational initiatives implemented during the quarter to support future growth opportunities. 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.
Gross profit totaled $628,000, or 63% of net sales, in the first quarter as compared to $852,000, or 70% of net sales, in the prior-year quarter. The decrease is primarily attributed to temporary production inefficiencies during the quarter, which adversely affected gross profit as fixed production costs were absorbed over lower production volumes.
Total operating expenses increased 15% to $3.2 million compared to $2.8 million in the prior-year quarter. The increase primarily reflected approximately $0.2 million of bonus accruals and higher labor and manufacturing-related costs associated with temporary production inefficiencies during the quarter, as well as research and development activities supporting operational scaling initiatives.
Sales and marketing expenses were reduced during the quarter as the Company aligned demand generation activities with temporarily reduced manufacturing capacity rather than underlying demand conditions.
The increase in total operating expenses was partially offset by a reduction of approximately $0.2 million in sales and marketing expenses and approximately $0.1 million in professional services expenses.
Net loss for the first quarter of 2026 totaled $2.7 million or ($0.58) per share, compared to a net loss of $0.5 million or ($0.55) per share in the prior-year quarter.
Cash and cash equivalents totaled $593,000 at March 31, 2026. Subsequent to quarter end, the Company issued an additional $850,000 of convertible notes to unrelated third-party investors pursuant to the previously disclosed securities purchase agreement dated March 16, 2026. The notes were issued together with corresponding warrants to purchase shares of the Company’s common stock on substantially similar terms to those previously disclosed. Management is also evaluating initiatives intended to strengthen the Company’s balance sheet and stockholders’ equity in connection with maintaining compliance with Nasdaq continued listing requirements.
Conference Call
Newton Golf will hold a conference call later today to discuss results for the first quarter of 2026 results, including a question-and-answer period.
Date: Thursday, May 14, 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: 13760017
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 May 28, 2026.
Toll-free replay number: 1-844-512-2921 International replay number: 1-412-317-6671 Replay ID: 13760017
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 deliver 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 ability to support working capital needs, operational scaling initiatives, and future growth opportunities, 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.
CONDENSED STATEMENTS OF OPERATIONS
For the Three Months Ended March 31, 2026 and 2025
(Unaudited)
(Amounts rounded to nearest thousand, except share and per share amounts)
Three Months Ended
March 31,
2026
2025
Net Sales
$
991,000
$
1,210,000
Cost of goods sold
363,000
358,000
Gross profit
628,000
852,000
Operating expenses
Selling, general and administrative expenses
2,895,000
2,541,000
Research and development
348,000
282,000
Total operating expenses
3,243,000
2,823,000
Loss from operations
(2,615,000
)
(1,971,000
)
Interest / (expense) income, net
(2,000
)
45,000
Amortization of debt discount
(2,000
)
-
Change in fair value of warrant liabilities
(40,000
)
1,401,000
Net loss
$
(2,659,000
)
$
(525,000
)
Loss per share – basic and diluted
$
(0.58
)
$
(0.55
)
Weighted average number of shares outstanding – basic and diluted
4,592,063
953,959
CONDENSED BALANCE SHEETS
(Amounts rounded to nearest thousand, except share and per share amounts)
March 31,
2026
December 31,
2025
(Unaudited)
ASSETS
Current Assets:
Cash and cash equivalents
$
593,000
$
1,298,000
Accounts receivable, net of allowance for doubtful accounts of $69,000 and $69,000, respectively
75,000
102,000
Inventory, net of reserve for obsolescence of $121,000 and $135,000, respectively
605,000
374,000
Prepaid expenses and other current assets
263,000
413,000
Total Current Assets
1,536,000
2,187,000
Property and equipment, net
888,000
880,000
Right-of-use asset, net
75,000
84,000
Software licensing agreement, net
17,000
25,000
Deferred offering costs
120,000
123,000
Total Assets
$
2,636,000
$
3,299,000
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIENCY)
Current Liabilities:
Accounts payable and accrued expenses
$
1,912,000
$
1,428,000
Customer deposits
929,000
75,000
Lease liability, current
41,000
40,000
Software licensing obligation, current
27,000
41,000
Warrant Liability
785,000
745,000
Total Current Liabilities
3,694,000
2,329,000
Lease obligations – noncurrent
34,000
44,000
Convertible Debt – related party, net
429,000
-
Software licensing fee obligation, net of current
-
-
Total Liabilities
4,157,000
2,373,000
Commitments and Contingencies
Stockholders’ Equity (Deficiency):
Preferred stock $.01 par value, 5,000,000 shares authorized, no shares issued and outstanding, respectively
-
-
Common stock, $.01 par value, 45,000,000 shares authorized, 4,592,063 shares issued and outstanding
45,000
45,000
Additional paid-in-capital
29,182,000
28,970,000
Accumulated deficit
(30,748,000
)
(28,089,000
)
Total Stockholders’ (Deficiency) Equity
(1,521,000
)
926,000
Total Liabilities and Stockholders’ (Deficiency) Equity
$
2,636,000
$
3,299,000
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