TruGolf (TRUG) investor relations material

Executive summary

• Designs, manufactures, and sells golf simulators and related software for residential and commercial use, with franchise operations through a wholly-owned subsidiary.

• Q1 2026 revenue was $5.02M, down 4.2% year-over-year, mainly due to lower simulator sales partially offset by higher software contracts.

• Net loss for Q1 2026 narrowed to $1.45M from $2.67M in Q1 2025, reflecting lower operating and interest expenses.

• Completed a 1-for-10 reverse stock split on March 27, 2026, reducing outstanding and authorized shares.

• New executive hires include a Head of Global Sales and a CFO to drive growth and improve financial operations.

Financial highlights

• Net revenue for Q1 2026 was $5.02M, down 4.2% year-over-year; gross profit was $2.68M.

• Gross margin for Q1 2026 was 53.0%, down from 68% in Q1 2025, due to higher cost of revenues.

• Operating expenses decreased 14.9% year-over-year, mainly due to higher capitalization of employee compensation as software development costs.

• Cash on hand as of March 31, 2026, was $10.94M; working capital deficit of $1.28M.

• Interest expense dropped 89.2% to $0.2M due to debt restructuring.

Outlook and guidance

• Expects continued operating losses and negative cash flows from operations in the near term as development and strategic initiatives continue.

• Management expects top-line growth in 2026 through increased market adoption of new products and features.

• Plans to fund losses through equity and convertible note sales.

• Anticipates opening of Cherry Hill, NJ flagship franchise in Q2 and two Long Island, NY locations by year-end.