Trugolf Holdings, Inc. Class A (TRUG)
NASDAQ:TRUG
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TruGolf Holdings
(NASDAQ:TRUG)
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Rating:40Underperform
Price Target:
$0.61
▼(-44.50% Downside)
Action:ReiteratedDate:02/03/26
The score is driven down primarily by weak financial performance (declining revenue, persistent losses, high leverage, and negative operating/free cash flow). Technicals also remain bearish with the price below all key moving averages and negative MACD, despite oversold readings. Corporate events are mixed (buyback progress vs. Nasdaq compliance notice), while valuation is limited by ongoing losses and no indicated dividend support.
Positive Factors
High gross margin
A 64.1% gross margin indicates TruGolf retains substantial value on each unit sold, reflecting product differentiation and manufacturing/service efficiency. This margin provides a structural buffer to absorb SG&A and invest in R&D, supporting a longer path to sustainable profitability even if sales grow slowly.
Negative Factors
Declining revenue trend
A near-double-digit TTM revenue decline is a structural concern: it reduces economies of scale and weakens negotiating power with channels. Sustained top-line contraction strains the ability to leverage high gross margins, limits investment capacity, and raises questions about market demand or competitive position.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margin
A 64.1% gross margin indicates TruGolf retains substantial value on each unit sold, reflecting product differentiation and manufacturing/service efficiency. This margin provides a structural buffer to absorb SG&A and invest in R&D, supporting a longer path to sustainable profitability even if sales grow slowly.
Read all positive factors
TruGolf Holdings (TRUG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.22M
Dividend YieldN/A
Average Volume (3M)1.06M
Price to Earnings (P/E)―
Beta (1Y)1.62
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees71
SectorConsumer Cyclical
Sector Strength84
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-48.70
Shares Outstanding535,563
10 Day Avg. Volume2,718,244
30 Day Avg. Volume1,058,809
Financial Highlights & Ratios
PEG Ratio-0.12
Price to Book (P/B)-24.89
Price to Sales (P/S)5.28
P/FCF Ratio-20.15
Enterprise Value/Market Cap-2.31
Enterprise Value/Revenue-0.25
Enterprise Value/Gross Profit-0.39
Enterprise Value/Ebitda0.50
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
TruGolf Holdings generates revenue primarily through the sale of its golf simulators and software products. The company operates on a direct sales model, selling its products through its website and authorized distributors. Additionally, TruGolf h...
TruGolf Holdings Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
40
Negative
Cash Flow
30
Negative
| Breakdown | TTM | Mar 2025 | Dec 2023 | Dec 2022 | Dec 2021 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 20.54M | 21.86M | 20.58M | 20.23M | 21.25M | 0.00 |
| Gross Profit | 13.07M | 14.59M | 12.05M | 13.21M | 15.47M | 0.00 |
| EBITDA | -10.19M | -1.22M | -8.60M | 858.58K | 6.38M | -59.40K |
| Net Income | -19.13M | -8.80M | -10.28M | -956.84K | 6.19M | -59.40K |
Balance Sheet | ||||||
| Total Assets | 22.98M | 17.14M | 15.77M | 14.59M | 14.89M | 537.57K |
| Cash, Cash Equivalents and Short-Term Investments | 11.44M | 10.88M | 5.78M | 9.66M | 10.71M | 500.07K |
| Total Debt | 5.85M | 9.12M | 9.25M | 4.34M | 3.60M | 500.00K |
| Total Liabilities | 16.73M | 21.78M | 19.69M | 18.02M | 18.04M | 546.96K |
| Stockholders Equity | 6.26M | -4.64M | -3.92M | -3.43M | -3.16M | -9.39K |
Cash Flow | ||||||
| Free Cash Flow | -10.75M | -5.73M | -6.26M | 750.45K | 4.50M | -50.03K |
| Operating Cash Flow | -9.05M | -4.00M | -6.13M | 791.88K | 4.52M | -50.03K |
| Investing Cash Flow | 215.08K | 741.14K | -2.62M | -41.43K | -23.00K | 0.00 |
| Financing Cash Flow | 14.91M | 8.74M | 4.50M | -1.80M | -810.45K | 550.10K |
TruGolf Holdings Technical Analysis
Negative
1.09
Price Trends
6.60
Negative
8.44
Negative
23.82
Negative
Market Momentum
-0.87
Positive
35.48
Neutral
21.13
Neutral
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 5.25, below the 50-day MA of 6.60, and below the 200-day MA of 23.82, indicating a bearish trend. The MACD of -0.87 indicates Positive momentum. The RSI at 35.48 is Neutral, neither overbought nor oversold. The STOCH value of 21.13 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
62 Neutral | $23.29M | 2.21 | 44.93% | ― | 11.38% | -94.39% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
59 Neutral | $43.71M | 12.87 | 13.22% | ― | ― | ― | |
53 Neutral | $24.82M | -18.46 | -208.53% | ― | ― | ― | |
40 Underperform | $2.22M | -0.13 | ― | ― | ― | ― |
* Consumer Cyclical Sector Average
TRUG
TruGolf Holdings
4.00
-150.50
-97.41%
GAME
GameSquare Holdings
0.25
-0.33
-56.85%
MSGM
Motorsport Games
4.03
3.21
391.46%
GMHS
Gamehaus Holdings
0.96
-0.63
-39.56%
TBH
Brag House Holdings, Inc.
0.42
-0.31
-42.47%
TruGolf Holdings Corporate Events
Stock Buyback
TruGolf Holdings Announces Progress in Stock Repurchase Program
Positive
Feb 2, 2026
As of January 31, 2026, TruGolf Holdings, Inc. reported that it had repurchased 249,000 shares of its Class A common stock under its previously announced $2.0 million stock buyback program at an average price of $0.8535 per share, including fees a...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
TruGolf Plans Redomestication and Expanded Equity Authorization
Positive
Jan 13, 2026
TruGolf Holdings, Inc. has scheduled its annual shareholder meeting for February 17, 2026, at which investors will vote on re-electing five directors, ratifying Haynie Company as independent auditor, and approving the company’s 2026 Equity ...
Delistings and Listing ChangesRegulatory Filings and ComplianceShareholder Meetings
TruGolf Receives Nasdaq Notice Over Delayed Annual Meeting
Negative
Jan 9, 2026
On January 5, 2026, TruGolf Holdings, Inc. received a delinquency notification from Nasdaq for failing to hold an annual shareholders’ meeting within twelve months of its fiscal year end, as required by Nasdaq Listing Rules 5620(a) and 5810(...
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.