NEWS ER
Financial Highlights for Third Quarter 2024
• Revenue was $1,211,000 in 3Q24, an increase of 1,175% over $95,000 in 3Q23 and a sequential increase of 49% over $813,000 in 2Q24
• Gross margin as a percent of revenue increased from 41% in 3Q23 to 66.5% in 3Q24, and this increase was driven primarily by increased volume in manufacturing
• Closed a $732,000 underwritten public offering of shares of common stock
Recent Corporate Highlights
• Announced a complete rebranding of the Company to NEWTON GOLF Company
• Launched the new Gravity Premium putter line with the introduction of five models
• Expanded the Company's global presence with the launch of the Newton Motion shafts in Japan in 50 of its largest golf retail locations
• Increased the number of professionals using the Newton Motion Shafts on the PGA TOUR Champions to 34, generating greater exposure
• Introduced the new advanced performance shafts for higher swing speeds
• Revenue was $1,211,000 in 3Q24, an increase of 1,175% over $95,000 in 3Q23 and a sequential increase of 49% over $813,000 in 2Q24
• Gross margin as a percent of revenue increased from 41% in 3Q23 to 66.5% in 3Q24, and this increase was driven primarily by increased volume in manufacturing
• Closed a $732,000 underwritten public offering of shares of common stock
Recent Corporate Highlights
• Announced a complete rebranding of the Company to NEWTON GOLF Company
• Launched the new Gravity Premium putter line with the introduction of five models
• Expanded the Company's global presence with the launch of the Newton Motion shafts in Japan in 50 of its largest golf retail locations
• Increased the number of professionals using the Newton Motion Shafts on the PGA TOUR Champions to 34, generating greater exposure
• Introduced the new advanced performance shafts for higher swing speeds
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