TruGolf (TRUG) Q2 2026 earnings summary

Executive summary

• Net revenue for Q2 2026 increased 34.4% year-over-year to $5.8M, driven by higher product acceptance and recognition of previously deferred revenue.

• Operating loss narrowed significantly to $222K from $1.87M in Q2 2025, reflecting improved gross profit and lower other expenses.

• Net loss for Q2 2026 was $448K, a substantial improvement from $3.3M in Q2 2025.

• For the six months ended June 30, 2026, net revenue rose 11.5% year-over-year to $10.8M, with net loss reduced to $1.9M from $6.0M.

Financial highlights

• Gross profit for Q2 2026 was $3.5M, up from $1.8M in Q2 2025; gross margin improved due to lower cost of revenue.

• Operating expenses for Q2 2026 were $3.7M, nearly flat year-over-year.

• Cash on hand at June 30, 2026 was $8.5M, down from $12.6M at year-end 2025.

• Working capital deficit at June 30, 2026 was $2.3M, compared to a surplus of $1.1M at December 31, 2025.

Outlook and guidance

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

• Ongoing funding is expected to come from equity and convertible note sales, though availability is uncertain.