Trugolf Holdings, Inc. Class A (TRUG)
NASDAQ:TRUG
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TruGolf Holdings
(NASDAQ:TRUG)
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Rating:41Neutral
Price Target:
$1.50
▲(37.61% Upside)
Action:Reiterated
Date:05/21/26
The score is held down primarily by weak financial performance (large losses and negative free cash flow) and a bearish technical backdrop (price well below key moving averages with negative MACD). A modest offset comes from the CFO appointment, while valuation provides limited support due to a negative P/E and no dividend yield data.
Positive Factors
Improved Gross Margin
A substantial gross margin improvement to ~46% implies better unit economics or favorable product mix. Sustained higher gross margins create structural room to cover fixed operating costs, improving long-term operating leverage and the path to profitability if revenue stabilizes.
Negative Factors
Large Net Losses
Sustained, large net losses relative to revenue significantly erode capital and limit reinvestment. Persistent negative profitability undermines competitive positioning and requires external financing, raising execution risk and making multi-quarter recovery challenging without material cost or revenue improvements.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Gross Margin
A substantial gross margin improvement to ~46% implies better unit economics or favorable product mix. Sustained higher gross margins create structural room to cover fixed operating costs, improving long-term operating leverage and the path to profitability if revenue stabilizes.
Read all positive factors
TruGolf Holdings (TRUG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.37M
Dividend YieldN/A
Average Volume (3M)1.06M
Price to Earnings (P/E)―
Beta (1Y)1.40
Revenue Growth-13.63%
EPS Growth37.52%
CountryUS
Employees71
SectorConsumer Cyclical
Sector Strength84
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-42.46
Shares Outstanding914,267
10 Day Avg. Volume2,718,244
30 Day Avg. Volume1,058,809
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.50
Price to Sales (P/S)0.11
P/FCF Ratio-0.42
Enterprise Value/Market Cap-1.87
Enterprise Value/Revenue-0.14
Enterprise Value/Gross Profit-0.30
Enterprise Value/Ebitda0.24
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-10.1
Revenue Forecast (FY)$21.50M
TruGolf Holdings Business Overview & Revenue Model
Company Description
TruGolf Holdings, Inc., through its subsidiary, engages in the development and sale of indoor golf simulator hardware under the TruGolf Nevada brand for residential and commercial markets in the United States. It also provides E6 Connect software ...
How the Company Makes Money
null...
TruGolf Holdings Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
34
Negative
Cash Flow
18
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 18.88M | 21.86M | 20.58M | 20.23M | 21.25M |
| Gross Profit | 4.90M | 14.59M | 12.05M | 13.21M | 15.47M |
| EBITDA | -10.47M | -1.22M | -8.60M | 858.58K | 6.38M |
| Net Income | -15.23M | -8.80M | -10.28M | -956.84K | 6.19M |
Balance Sheet | |||||
| Total Assets | 20.18M | 17.14M | 15.77M | 14.59M | 14.89M |
| Cash, Cash Equivalents and Short-Term Investments | 10.47M | 10.88M | 5.78M | 9.66M | 10.71M |
| Total Debt | 5.90M | 9.12M | 9.25M | 4.34M | 3.60M |
| Total Liabilities | 15.88M | 21.78M | 19.69M | 18.02M | 18.04M |
| Stockholders Equity | 4.30M | -4.64M | -3.92M | -3.43M | -3.16M |
Cash Flow | |||||
| Free Cash Flow | -5.14M | -5.73M | -6.26M | 750.45K | 4.50M |
| Operating Cash Flow | -1.70M | -4.00M | -6.13M | 791.88K | 4.52M |
| Investing Cash Flow | -3.44M | 741.14K | -2.62M | -41.43K | -23.00K |
| Financing Cash Flow | 6.82M | 8.74M | 4.50M | -1.80M | -810.45K |
TruGolf Holdings Technical Analysis
Negative
1.09
Price Trends
3.53
Negative
5.64
Negative
15.45
Negative
Market Momentum
-0.56
Negative
28.38
Positive
9.41
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRUG, the sentiment is Negative. The current price of 1.09 is below the 20-day moving average (MA) of 2.05, below the 50-day MA of 3.53, and below the 200-day MA of 15.45, indicating a bearish trend. The MACD of -0.56 indicates Negative momentum. The RSI at 28.38 is Positive, neither overbought nor oversold. The STOCH value of 9.41 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TRUG.
TruGolf Holdings Risk Analysis
TruGolf Holdings disclosed 87 risk factors in its most recent earnings report. TruGolf Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TruGolf Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $26.81M | 17.71 | 153.14% | ― | 82.97% | 21220.00% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | $54.33M | 12.87 | 13.22% | ― | ― | ― | |
51 Neutral | $34.77M | -0.37 | -190.37% | ― | -39.62% | 61.23% | |
41 Neutral | $1.37M | -0.27 | ― | ― | -13.63% | 37.52% |
* Consumer Cyclical Sector Average
TRUG
TruGolf Holdings
1.47
-100.53
-98.56%
GAME
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0.37
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-47.97%
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GMHS
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0.95
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-32.84%
TBH
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0.65
0.07
12.78%
TruGolf Holdings Corporate Events
Business Operations and StrategyExecutive/Board Changes
TruGolf Holdings Appoints Steven Passey as Chief Financial Officer
Positive
May 6, 2026
On May 1, 2026, TruGolf Holdings, Inc. appointed veteran finance executive Steven Passey as its Chief Financial Officer, effective May 15, 2026, under an employment letter that sets his base salary at $225,000 for the first three months and $250,0...
Business Operations and StrategyExecutive/Board Changes
TruGolf Reshapes Board Roles in Leadership Realignment
Neutral
Mar 20, 2026
On March 16, 2026, TruGolf Holdings, Inc. announced that director Shaun Limbers resigned from the company’s Board of Directors, with the company specifying that his departure did not stem from any disagreement related to TruGolf’s oper...
Regulatory Filings and Compliance
TruGolf Holdings Announces Technical Corporate Governance Amendment
Neutral
Mar 13, 2026
TruGolf Holdings disclosed a brief regulatory statement indicating that information previously detailed in another section is incorporated by reference in this item. The filing does not provide new operational, financial, or strategic details, sug...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.