TRUG on Nasdaq
TruGolf Holdings, Inc.
American sporting and athletic goods company, incorporated in Delaware. Summary from the record
Price unavailable
Last updated Oct 19, 2026.
Overview
Compare with Newton Golf Company, Inc., Brownie's Marine Group, Inc or FST Corp., or pick any stock.
- TickerTRUG on Nasdaq1
- IndustrySporting & Athletic Goods, NEC1
- HeadquartersPlantation, Florida1
- Incorporated inDE2
- Business address7951 S.W. 6Th Street, Suite 216, Plantation, Fl 333242
- Filer category, Emerging growth company2
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Secretary of State. The Redomestication was approved by the Company’s stockholders at the annual meeting held on February 17, 2026.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Golf Simulators brought in 78% of the revenue TruGolf Holdings, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Golf Simulators | $13.7M | $14.7M |
| Content Software Subscriptions | $7.9M | $3.7M |
| Other | $297.4K | $473.6K |
| Franchise Revenue | $13.1K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue45¢$9.4M
- Selling, general and admin52¢$11.0M
- Interest3¢$663.0K
Out of $18.9M in revenue.4 The company lost money this year.
Financial statements
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $20.6M5 | $21.3M4 | $18.9M4 | ||
| Cost of revenue | $7.8M5 | $7.4M4 | $9.4M4 | ||
| Gross profit | $12.8M5 | $13.9M4 | $9.5M4 | ||
| Selling, general and admin | $11.0M5 | $6.7M4 | $11.0M4 | ||
| Operating expenses | $409.9K6 | $21.4M5 | $16.0M4 | $15.6M4 | |
| Operating income | -$8.7M5 | -$2.1M4 | -$6.1M4 | ||
| Interest | $601.1K5 | $545.3K4 | $663.0K4 | ||
| Income before tax | $274.1K6 | ||||
| Income tax | $57.6K6 | ||||
| Net income | -$414.0K6 | -$10.3M5 | -$8.8M4 | -$15.2M4 | |
| Earnings per share | -$857.355 | -$377.984 | -$51.394 | ||
| Earnings per share (diluted) | -$857.355 | -$377.984 | -$51.394 | ||
| Shares (weighted, basic) | 12.0K shares5 | 23.3K shares4 | 296.3K shares4 | ||
| Shares (weighted, diluted) | 12.0K shares5 | 23.3K shares4 | 296.3K shares4 |
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash | $500.1K10 | $877.1K10 | $3.3M5 | $8.8M4 | $10.5M4 |
| Receivables | $2.4M5 | $1.4M4 | $1.1M4 | ||
| Inventory | $2.1M5 | $2.3M4 | $863.3K4 | ||
| Current assets | $537.6K10 | $129.0M6 | $12.7M5 | $14.8M4 | $15.5M4 |
| Property, plant and equipment | $234.3K5 | $143.9K4 | $355.5K4 | ||
| Total assets | $537.6K10 | $129.0M6 | $15.8M5 | $17.1M4 | $20.2M4 |
| Accounts payable | $2.1M5 | $2.8M4 | $2.8M4 | ||
| Current liabilities | $41.0K10 | $536.7K6 | $10.7M5 | $15.8M4 | $14.4M4 |
| Long-term debt | $2.1M5 | $3.6M4 | $2.8M4 | ||
| Long-term liabilities | $4.4M6 | $4.4M6 | |||
| Total liabilities | $547.0K10 | $5.0M6 | $19.7M5 | $21.8M4 | $15.9M4 |
| Retained earnings | -$3.8M6 | -$12.4M5 | -$21.2M4 | -$41.1M4 | |
| Shareholders’ equity | -$9.4K6 | -$3.4M5 | -$3.9M4 | -$4.6M4 | $4.3M4 |
| Shares outstanding | 31.0K shares12 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash from operations | -$697.9K6 | -$6.1M5 | -$4.0M4 | -$1.7M4 | |
| Depreciation and amortization | $58.6K5 | $301.4K4 | $1.1M4 | ||
| Stock-based compensation | $538.3K4 | $11.1K4 | |||
| Capital spending | $127.4K5 | $36.3K4 | $205.4K4 | ||
| Free cash flow | -$6.3M | -$4.0M | -$1.9M | ||
| Cash from investing | -$127.8M6 | -$2.6M5 | $741.1K4 | -$3.4M4 | |
| Cash from financing | $128.8M6 | $4.5M5 | $8.7M4 | $6.8M4 |
Leadership
Who has led TruGolf Holdings, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
- Chief executive officerHumphrey P. Polanen Nov 10, 2021 to Apr 27, 202213
- Chief financial officerSteven K. Passey May 22, 2026 to now14
- Chief financial officerLindsay Jones Feb 2, 2024 to Feb 2, 202415
Board members and other officers (12)
- Chief Growth OfficerBrenner Adams Apr 10, 2024 to Apr 10, 202416
- Chief Experience OfficerNathan E. Larsen Apr 10, 2024 to Apr 10, 202417
- Board memberA.j. Redmer Feb 2, 2024 to Feb 2, 202418
- Board memberRiley Russell Feb 5, 2024 to Feb 5, 202419
- Board memberJohn Chiang Oct 25, 2022 to Oct 25, 202220
- Board memberBryant Fong Oct 26, 2021 to Oct 26, 202121
- Board memberHongliang Ren Oct 26, 2021 to Oct 26, 202122
- Board memberMarc Hamer Oct 26, 2021 to Oct 26, 202123
- Board memberRonald M. Razmi Oct 26, 2021 to Apr 27, 202224
- Board memberTina Spires Oct 26, 2021 to Oct 26, 202125
- Board memberWanlei Miao Oct 26, 2021 to Oct 26, 202126
- Board memberHumphrey P. Polanen Nov 10, 2021 to now13
Former names
- Deep Medicine Acquisition Corp.Aug 3, 2021 to Feb 1, 20242
Timeline
- Nov 10, 2021New chief executive Humphrey P. Polanen becomes CEO13
Filings
231 filings to the SEC since October 2021: 7 annual reports, 16 quarterly reports, 64 major events, 26 insider forms, 21 large holders, 97 other. The latest 20:
- Oct 15, 2026SCHEDULE 13G/A EDGAR
- Oct 9, 20268-K EDGAR
- Sep 29, 20268-K EDGAR
- Sep 24, 20268-K EDGAR
- Sep 9, 20268-K EDGAR
- Aug 27, 20268-K EDGAR
- Aug 24, 20268-K EDGAR
- Aug 21, 20268-K EDGAR
- Aug 18, 20268-K EDGAR
- Aug 14, 202610-Q EDGAR
- May 22, 20263 EDGAR
- May 20, 202610-Q EDGAR
- May 15, 2026NT 10-Q EDGAR
- May 6, 20268-K EDGAR
- Apr 30, 202610-K/A EDGAR
- Apr 17, 202610-K/A EDGAR
- Apr 15, 202610-K EDGAR
- Mar 31, 2026NT 10-K EDGAR
- Mar 20, 20268-K EDGAR
- Mar 13, 20268-K EDGAR
The 231 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
1 open-market trades by officers, directors and large owners since October 2021: 0 buys and 1 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Jul 14, 2025 | POLANEN HUMPHREY PDirector | Sale | 2,500 | $5.03 | $12.6K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ATW Partners Opportunities Management, LLCSCHEDULE 13G/A, 2 filings Feb 4, 2026 to Oct 15, 202627
- Greentree Financial Group, IncSCHEDULE 13G/A, 2 filings Sep 27, 2024 to May 5, 202528
- Lighthouse Investment Partners, LLCSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202429
- Saba Capital Management, L.P.SC 13G/A, 3 filings Nov 4, 2021 to Feb 14, 202330
- Weiss Asset Management LPSC 13G/A, 2 filings Feb 7, 2022 to Feb 3, 202331
- Yakira Capital Management, Inc.SC 13G/A, 2 filings Feb 9, 2022 to Jan 31, 202332
- Karpus Management, Inc.SC 13G/A, 2 filings Jan 10, 2022 to Jan 10, 202333
- Ke LiSC 13D/A, 2 filings Nov 8, 2021 to Apr 27, 202234
- Lawrence FeisSC 13G/A, 2 filings Nov 2, 2021 to Dec 8, 202135
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARBrenner Adams, Chief Growth Officer
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- 18SEC EDGARA.j. Redmer, Board member
- 19SEC EDGARRiley Russell, Board member
- 20SEC EDGARJohn Chiang, Board member
- 21SEC EDGARBryant Fong, Board member
- 22SEC EDGARHongliang Ren, Board member
- 23SEC EDGARMarc Hamer, Board member
- 24SEC EDGARRonald M. Razmi, Board member
- 25SEC EDGARTina Spires, Board member
- 26SEC EDGARWanlei Miao, Board member
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