TruGolf Q1 Revenue Falls 4.4% to $5.0M, Loss Narrows to $1.4M
TRUG•TruGolf’s Q1 revenue declined 4.4% to $5.0 million while net loss narrowed 48% to $1.4 million as operating expenses fell 14.9%. Gross margin dropped to 53.0% from 68.0%, driven by higher cost of revenues, but operating cash outflow improved to $0.1 million with $10.9 million cash on hand.
1. Q1 Financial Performance
TruGolf’s first quarter revenue declined to $5.0 million from $5.2 million year-over-year, representing a 4.4% decrease. Net loss narrowed to $1.4 million versus $2.7 million in Q1 2025 as efficiency gains lowered operating expenses by 14.9%.
2. Operating Expenses and Cash Flow
Operating expenses decreased primarily from capitalizing software development salaries, driving a 59.2% reduction in salary expense. Gross margin slipped to 53.0% from 68.0% due to increased warehouse and shipping costs, while net cash used in operations improved to $0.1 million compared to $0.4 million last year.
3. Share Repurchase and Liquidity
During the quarter, the company repurchased 439,208 shares for $346,503 under its buyback plan. TruGolf ended Q1 with $10.9 million in cash, down from $12.6 million at year-end, providing runway for operations and strategic investments.
4. Strategic Hires and Expansion
TruGolf added David Harper as Head of Global Sales and Steven Passey as CFO to bolster sales and finance functions. The company plans to open two TruGolf Links flagship locations on Long Island by year-end and expects its first franchise venue in Cherry Hill, New Jersey, in Q2.
