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olivLaw · US equity research

Newton Golf Company, Inc. NWTG

Sporting & Athletic Goods, NEC · SIC 3949 · Vertical: Sporting & Athletic Goods, NEC (SIC 3949)

0.91USD+12.47% · 1 dayClose 04 Nov 2026

Newton Golf Company designs and sells performance golf equipment, mainly carbon fiber shafts from its Newton Motion line made largely in Missouri. It matters now because its sales grew sharply in 2025, to about 8.1 million USD, while operations and liquidity are under pressure from production delays and convertible note financing.

At the close of 04 Nov 2026, Newton Golf Company, Inc. (NWTG) stock was 0.91 USD (+12.47% on the day), with market capitalisation 4.9 m USD, beta 0.66, 52-week range 0.76–1.86 USD. Latest reported quarter (Q2 2026): revenue of 1.3 m USD (−36.4% YoY), net income of -2.3 m USD, diluted EPS -0.49 USD.

Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.

Market cap
4.9 m USD
shares as of 13 Aug 2026
P/E (TTM)
unavailable
Diluted EPS TTM -1.93 · TTM to 30 Jun 2026
E/P (TTM)
-212.06%
TTM to 30 Jun 2026
Dividend yield
unavailable
Beta (2y)
0.66
Volatility (1y) 106%
52-week range
0.761.86

Price history

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Technical reading

RSI (14)
44.3
weak (30–45)
Bollinger (20, 2)
0.80 – 1.19
in the lower half of the band · %B 0.29 · band width 39.2%
SMA 50 / 200
1.10 / 1.23
downtrend (price < SMA50 < SMA200)
MACD (12, 26, 9)
-0.04 / -0.03
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyS&P 500vs S&P 500Vertical median
1 month−19.5%−1.1%−18.4 pp—
3 months−13.3%−0.5%−12.9 pp—
6 months−26.0%+4.4%−30.4 pp—
Year to date−39.3%+12.3%−51.7 pp—
1 year−31.6%+13.5%−45.1 pp+16.5%
3 years−99.6%+76.4%−176.0 pp−3.5%
5 yearsunavailable+63.7%unavailable—
Max drawdown (1y)
−59.0%
05 Dec 2025 → 08 Jul 2026
Max drawdown (5y)
−100.0%
15 Aug 2023 → 08 Jul 2026
Compound annual growth (5y)
unavailable
S&P 500 +10.4%

Price returns, dividends excluded.

Quarterly results

Latest quarter: Q2 2026 · 30 Jun 2026

Revenue
1.3 m USD
−36.4% YoY
Net income
-2.3 m USD
unavailable YoY
Diluted EPS
-0.49
unavailable YoY
net / operating
-173.1% / -117.0%

Quarterly margins

Quarterly statements · USD

Fiscal yearQ3 '24Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Revenue1.2 m1.1 m1.2 m2.1 m2.6 m2.3 m991.0 k1.3 m
Cost of revenue406.0 k297.0 k358.0 k669.0 k848.0 k1.7 m363.0 k405.0 k
Gross profit805.0 k774.0 k852.0 k1.4 m1.7 m569.0 k628.0 k911.0 k
Research & development201.0 k145.0 k282.0 k143.0 k182.0 k172.0 k348.0 k348.0 k
SG&A1.7 m2.1 m2.5 m2.8 m3.1 m3.0 m2.9 m2.1 m
Operating income-1.1 m-1.4 m-2.0 m-1.5 m-1.5 m-2.6 m-2.6 m-1.5 m
Net income-1.1 m-8.3 m-525.0 k-1.5 m-1.6 m-2.4 m-2.7 m-2.3 m
Diluted EPS-21.79-71.16 ≈-0.55-0.34-0.34-0.52 ≈-0.58-0.49
Operating cash flow-1.1 m ≈-1.5 m-1.6 m-1.2 m ≈-1.3 m ≈-1.1 m-1.1 m-1.7 m ≈
Capex275.0 k ≈39.0 k131.0 k160.0 k ≈93.0 k ≈85.0 k87.0 k82.0 k ≈
Share repurchases————0 ≈———

≈ derived quarter (cumulative difference / share-days average)

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Fiscal years

Fiscal year2022202320242025
Revenue190.0 k349.0 k3.4 m8.1 m
Revenue YoYunavailable+83.7%+887.1%+136.1%
Net income-3.5 m-4.6 m-11.8 m-6.0 m
Net income YoYunavailableunavailableunavailableunavailable
Diluted EPS-0.34-113.38-178.33-1.63
Diluted EPS YoYunavailableunavailableunavailableunavailable
net %-1,844.7%-1,325.2%-341.1%-74.0%
Free cash flow-860.0 k-5.3 m-5.4 m-5.6 m

Reported results vs expectations

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Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
1.3 m USD
Financial debt
unavailable USD
Net debt
unavailable USD
Equity
926.0 k USD
Total assets
3.3 m USD
Debt / equity
unavailable
Current ratio
0.94x
ROE
unavailable
ROA
-92.2%
FCF margin
-69.3%

Financial statements (source on every figure)

Revenue and net income (USD)

Margins

Income statement · USD

Revenue
2023
349.0 k
2024
3.4 m
2025
8.1 m

SEC (XBRL)· 31 Mar 2026verified

Cost of revenue
2023
227.0 k
2024
1.2 m
2025
3.6 m

SEC (XBRL)· 31 Mar 2026verified

Gross profit
2023
122.0 k
2024
2.3 m
2025
4.6 m

SEC (XBRL)· 31 Mar 2026verified

Research & development
2023
258.0 k
2024
743.0 k
2025
779.0 k

SEC (XBRL)· 31 Mar 2026verified

SG&A
2023
4.5 m
2024
6.5 m
2025
11.3 m

SEC (XBRL)· 31 Mar 2026verified

Operating income
2023
-4.6 m
2024
-5.0 m
2025
-7.5 m

SEC (XBRL)· 31 Mar 2026verified

Net income
2023
-4.6 m
2024
-11.8 m
2025
-6.0 m

SEC (XBRL)· 31 Mar 2026verified

Diluted EPS
2023
-113.38
2024
-178.33
2025
-1.63

SEC (XBRL)· 31 Mar 2026verified

Weighted average diluted shares
2023
40.8 k
2024
65.9 k
2025
3.7 m

SEC (XBRL)· 31 Mar 2026verified

Balance sheet · USD

Cash
2023
5.3 m
2024
7.7 m
2025
1.3 m

SEC (XBRL)· 31 Mar 2026verified

Receivables
2023
53.0 k
2024
115.0 k
2025
102.0 k

SEC (XBRL)· 31 Mar 2026verified

Inventories
2023
248.0 k
2024
913.0 k
2025
374.0 k

SEC (XBRL)· 31 Mar 2026verified

Current assets
2023
5.8 m
2024
9.0 m
2025
2.2 m

SEC (XBRL)· 31 Mar 2026verified

Property, plant & equipment, net
2023
379.0 k
2024
716.0 k
2025
880.0 k

SEC (XBRL)· 31 Mar 2026verified

Total assets
2023
6.4 m
2024
9.8 m
2025
3.3 m

SEC (XBRL)· 31 Mar 2026verified

Accounts payable
2023
401.0 k
2024
572.0 k
2025
1.4 m

SEC (XBRL)· 14 May 2026verified

Current liabilities
2023
475.0 k
2024
14.9 m
2025
2.3 m

SEC (XBRL)· 31 Mar 2026verified

Total liabilities
2023
604.0 k
2024
15.0 m
2025
2.4 m

SEC (XBRL)· 31 Mar 2026verified

Equity
2023
5.8 m †
2024
-5.2 m †
2025
926.0 k †

SEC (XBRL)· 31 Mar 2026verified

Cash flow · USD

Operating cash flow
2023
-5.0 m
2024
-4.9 m
2025
-5.2 m

SEC (XBRL)· 31 Mar 2026verified

Capex
2023
289.0 k
2024
502.0 k
2025
469.0 k

SEC (XBRL)· 31 Mar 2026verified

Free cash flow
2023
-5.3 m ≈
2024
-5.4 m ≈
2025
-5.6 m ≈

SEC (XBRL)· 31 Mar 2026derived

Investing cash flow
2023
-289.0 k
2024
-502.0 k
2025
-469.0 k

SEC (XBRL)· 31 Mar 2026verified

Financing cash flow
2023
10.5 m
2024
7.7 m
2025
-717.0 k

SEC (XBRL)· 31 Mar 2026verified

Computed indicators

Growth

Revenue growth (YoY)
136.1%
computed by olivLawFY 2025
Revenue CAGR 3Y
249.8%
computed by olivLawFY 2022 → FY 2025
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
unavailable
the base of the ratio is not positive
Net income growth (YoY)
unavailable
the base of the ratio is not positive
Net income CAGR 3Y
unavailable
the base of the ratio is not positive
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
unavailable
the base of the ratio is not positive
EPS CAGR 3Y
unavailable
the base of the ratio is not positive
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
unavailable
the base of the ratio is not positive

Profitability

Gross margin
53.6%
computed by olivLawTTM to 30 Jun 2026
EBITDA margin
unavailable
input data missing
EBIT margin
-114.8%
computed by olivLawTTM to 30 Jun 2026
Net margin
-124.4%
computed by olivLawTTM to 30 Jun 2026
FCF margin
-77.5%
computed by olivLawTTM to 30 Jun 2026

Returns

ROE
-2,023.2%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROA
-197.8%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
ROIC
unavailable
equity is negative: buybacks shrink the invested capital and ROIC would come out large without meaning anything
ROCE
unavailable
insufficient data
Payout ratio (EPS)
unavailable
input data missing
Payout ratio (FCF)
unavailable
input data missing

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
unavailable
input data missing

Liquidity

Current ratio
0.3x
computed by olivLawbalance sheet at 30 Jun 2026
Quick ratio
0.2x
computed by olivLawbalance sheet at 30 Jun 2026
Cash ratio
0.1x
computed by olivLawbalance sheet at 30 Jun 2026

Cash

Operating cash flow
-5.2 m USD
computed by olivLawTTM to 30 Jun 2026
Capital expenditure
347.0 k USD
computed by olivLawTTM to 30 Jun 2026
Free cash flow
-5.6 m USD
computed by olivLawTTM to 30 Jun 2026
FCF conversion
unavailable
insufficient data
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
12 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days inventory outstanding
79 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Days payables outstanding
185 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Cash conversion cycle
-94 days
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026

Market and valuation

Market capitalisation
4.9 m USD
computed by olivLawbalance sheet at 30 Jun 2026
Enterprise value
unavailable
input data missing
Market cap / net income TTM
unavailable
insufficient data
P/E (TTM)
unavailable
insufficient data
Earnings yield
-212.1%
computed by olivLawTTM to 30 Jun 2026
P/B
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
P/S
0.7x
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
unavailable
the base of the ratio is not positive
FCF yield
-112.5%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero
Shareholder yield (distributions)
unavailable
input data missing

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • indicators available: 4 of at least 6
  • score weight coverage: 27.1% of at least 60%
  • valuation methods computed: 0 of at least 1

A scoring methodology on indicators and valuation, not investment advice.

Closing price

0.91 USD

04 Nov 2026Source: olivLaw, closing series

Market cap: 4.9 m USD

Key indicators

Market capitalisation
4.9 m USD
computed by olivLawbalance sheet at 30 Jun 2026
P/E (TTM)
unavailable
insufficient data
P/B
unavailable
equity is negative: the ratio is not economically meaningful (not by itself insolvency; usually the result of buybacks)
EV/EBITDA
unavailable
input data missing
ROE
-2,023.2%
computed by olivLawTTM to 30 Jun 2026 · balance sheet at 30 Jun 2026
Net margin
-124.4%
computed by olivLawTTM to 30 Jun 2026
Revenue growth (YoY)
136.1%
computed by olivLawFY 2025
Dividend yield
unavailable
no dividend in the structured statements; a missing line is not a confirmed zero

Coverage and freshness

24/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 30 Jun 2026
Latest balance sheet date: 30 Jun 2026
Share count (cover of the latest filing), as of: 13 Aug 2026
Source: SEC (XBRL)published 14 Aug 2026
verified 535derived 44

Score by group

27% · Insufficient data

Estimated value range

unavailable — no valuation method could be computed

Valuation assumptions are editorial choices, not measured; beta is not measured.

Valuation methods

  • DCF (discounted cash flow)unavailable · input data missing
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/Eunavailable · the base of the ratio is not positive
  • Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption

no valuation method could be computed

Multiple comparisons use the SIC vertical: Sporting & Athletic Goods, NEC (SIC 3949)

Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.

Assumptions (illustrative, editorial)

Risk-free rate
4.3%
Equity risk premium
5.0%
Beta (default)
1.00
Cost of equity
9.3%
Terminal growth
2.5%

Factor scorecard

Insufficient data

Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality-124.4%9 (vs peers)23%
FCF conversion · Qualityunavailableunavailable—
Revenue CAGR 3Y · Growth249.8%100 (on a fixed band)31%
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheetunavailableunavailable—
Current ratio · Balance sheet0.3x0 (on a fixed band)15%
P/E (TTM) · Valuationunavailableunavailable—
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation-112.5%0 (on a fixed band)31%
Shareholder yield (distributions) · Returnsunavailableunavailable—
Payout ratio (FCF) · Returnsunavailableunavailable—

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet· partial0/100 · 1/3 factors with a value
  • Growth· partial100/100 · 1/2 factors with a value
  • Quality· partial9/100 · 1/3 factors with a value
  • Returns· partialunavailable · 0/2 factors with a value
  • Valuation· partial0/100 · 1/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

NEWTON GOLF COMPANY, INC. (NWTG). Latest full fiscal year: 2025; data up to 2026-06-30.

Figures computed from the financial statements: revenue 8.1 m USD in 2025; YoY growth 136.1%; net margin -124.4%; ROE -2,023.2%.

Valuation cannot be computed from the available data.

Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Revenue CAGR 3Y: 249.8%

What contradicts it

  • Net margin: -124.4%
  • Current ratio: 0.3x
  • FCF yield: -112.5%

Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).

Versus the vertical median

Sporting & Athletic Goods, NEC (SIC 3949) · same industry (4-digit SIC) · compared with 11 companies

Multiples and returns vs the median

P/E
—
vertical median 22.2x
EV/EBITDA
—
vertical median 11.1x
P/S
0.7x
vertical median 1.3x
below median (−46.9%)
P/B
—
vertical median 1.4x
ROE
-2,023.2%
vertical median -5.1%
below median
Net margin
-124.4%
vertical median -2.0%
below median
EBIT margin
-114.8%
vertical median 2.7%
below median (−4,412.0%)
Revenue YoY
136.1%
vertical median -1.3%
above median
Net debt/EBITDA
—
vertical median -0.1x
Dividend yield
—
vertical median 2.3%

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
GOLFAcushnet Holdings Corp.4.9 bn23.325.7%8.2%+4.1%+2% / +52%
YETIYETI Holdings, Inc.3.5 bn21.125.3%9.2%unavailable+17% / +13%
CALYCallaway Golf Company3.0 bn—-11.3%-12.4%−0.8%+29% / +35%
ESCAEscalade, Incorporated290.7 m12.113.5%10.0%−4.5%+59% / +14%
AOUTAmerican Outdoor Brands, Inc.226.2 m—-2.4%-2.0%−14.3%+150% / +109%
CLARClarus Corporation169.2 m—-14.9%-12.4%−5.2%+23% / −22%
KBSXFST Corp.62.2 m—-7.8%-3.1%+31.4%−1% / −87%
GMEXGmex Robotics Corporation10.7 m—-91.5%-308.0%+7.9%−100% / −100%
NWTGNewton Golf Company, Inc.4.9 m—-2,023.2%-124.4%+136.1%−32% / −100%
TRUGTrugolf Holdings, Inc.586.0 k—-349.3%-55.7%−13.6%−100% / −100%
JOUTJohnson Outdoors Inc.——-1.8%-1.2%−0.1%+19% / −7%
PTONPeloton Interactive, Inc.—39.0—2.6%−1.8%−20% / −4%

1- and 3-year price returns: for NWTG from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (USD)

Estimated priceBearBaseBull
1 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
3 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
5 years
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
insufficient data
Total return unavailable · Per year unavailable
What moves the 3-year price the most

    AI analysis

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    In brief

    Newton Golf Company designs and sells performance golf equipment, mainly carbon fiber shafts from its Newton Motion line made largely in Missouri. It matters now because its sales grew sharply in 2025, to about 8.1 million USD, while operations and liquidity are under pressure from production delays and convertible note financing 123.

    SWOT

    Strengths

    • Heavy reliance on the Newton Motion line produced rapid sales growth and adoption among professionals.
    • In-house production in Missouri gives control over quality and engineering processes.
    • The network of professional club fitters has expanded significantly, strengthening distribution channels.

    Weaknesses

    • The company has recurring operating losses and the auditor has raised substantial doubt about its going concern ability.
    • Dependence on a single product line and a limited number of carbon fiber suppliers makes the company vulnerable.
    • Convertible note financing and share dilution have raised the cost of capital.

    Opportunities

    • Extending the shaft line to fairway woods and hybrids could raise average revenue per customer.
    • Distribution in South Korea and possible OEM partnerships could open new markets.
    • Growth in off-course golf could widen the pool of potential customers.

    Threats

    • Large competitors with big sponsorship budgets could reduce the company's market share.
    • Supply constraints and tariffs could delay production and orders.
    • An economic slowdown could reduce discretionary spending on golf.

    Risks

    • Going concern doubthigh

      The auditor has expressed substantial doubt about the company's ability to continue as a going concern, and future financing is not assured 1.

    • Concentration on one product linehigh

      Almost all revenue comes from the Newton Motion shafts, so a product or market problem could affect the whole company 1.

    • Carbon fiber supply constraintshigh

      Temporary carbon fiber shortages reduced output and delayed orders in 2026, and sourcing depends on a few suppliers 23.

    • Dilution from convertible financingmedium

      Convertible notes and warrants could dilute existing shareholders if converted 2.

    • Competitive pressuremedium

      Well-funded competitors could cut prices or raise promotional spending, affecting margins 1.

    Investment thesis

    What would need to be true (bull case)

    • If production stabilises, the backlog of delayed orders could be shipped and support a recovery in sales 3.
    • Professional adoption and new fairway wood and hybrid launches could expand the product family under one brand 23.
    • A growing fitter network and distribution in South Korea could strengthen the position in premium markets 3.

    What would break the thesis

    • Recurring losses and going concern doubt could force further financing on harsh terms.
    • Reliance on one product line and carbon fiber supply could make results very volatile.
    • Rising financing costs and shareholder dilution could discourage long-term investors.

    What to watch

    • Trend in sales and shipment of the backlog of about 1.2 million USDQ2 2026
    • Commercial launch of the Fast Motion fairway wood and hybrid shaftsQ3 2026 or Q1 2027
    • Stability of carbon fiber supply from TorayQ3 2026
    • Auditor's opinion on going concern in the annual reportnext 10-K

    Products, market & competition

    AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

    The business

    Newton Golf designs, manufactures and sells high-performance golf equipment, including premium shafts and putters, focused on technology products meant to enhance player performance 1. The Newton Motion shaft line is the core of the product strategy and generated almost all revenue in 2025, so dependence on this category is very high 1. The St. Joseph, Missouri facility, opened in 2022, supports carbon fiber shaft production, and the company seeks to manufacture in the US where economically feasible 1.

    Segments

    Newton Motion shafts

    Carbon fiber shafts, launched from November 2023, made up nearly all revenue in 2025, with the Fast Motion model becoming the best-selling product 1. In 2026 the company introduced 2.0 versions of its models and announced fairway wood and hybrid shafts 23.

    Newton Gravity putters

    The Newton Gravity putter line, with an ultra-low balance point, played a secondary role in recent growth, and the company reduced direct-to-consumer marketing for it 1.

    Market context

    The global golf equipment market is estimated at 8.55 billion USD in 2025 and could grow at a mid-single-digit annual rate, according to sources cited by the company 1. Participation remains above pre-pandemic levels, and indoor golf experiences widen the audience, although demand depends on economic conditions 1.

    Trends

    • Golf participation and indoor experiencestailwind

      Off-course venues such as Topgolf and simulators could expand the player base and the practice season in colder regions 1.

    • Professional adoption of shaftstailwind

      Use of Newton shafts by more than 60 professionals across several tours could raise brand visibility and fitter recommendations 23.

    • Cost and supply chain pressureheadwind

      Higher metal and carbon fiber costs, plus 2026 supply constraints, could weigh on margins if they cannot be offset 12.

    • Discretionary spending sensitivitymixed

      Golf products are discretionary purchases, so weaker consumer confidence could reduce sales, although demand for premium products may prove more resilient 1.

    Competitive position

    The company operates in a highly competitive market where four major competitors hold most of the US golf market share 1. Competitors spend heavily on advertising and tour support, which could pressure prices and Newton's marketing costs 1.

    Newton's edge could come from in-house shaft production and specialization by club type, although the company acknowledges it holds no significant share of global golf equipment sales 1. Expansion into fitting channels and international distribution could support its competitive position 3.

    • Major US golf equipment manufacturers

      The source mentions four major competitors holding most US market share but does not name them.

    • Premium shaft makers

      Toray is cited as a carbon fiber supplier rather than a direct competitor, and direct shaft competition is not detailed in the sources.

    • Putter brands with weight technology

      Competition for the Newton Gravity line is not specified individually in the analysed sources.

    • Off-course golf operators

      Topgolf and simulators are cited as industry trends, not as direct competitors.

    News & filings

    In the press

    SEC filings

    • Current report13 Oct 2026
      Delisting notice
    • Current report24 Sept 2026
      Material agreement · Item 3.02 · Financial statements and exhibits
    • Current report24 Sept 2026
      Material agreement · Item 3.02 · Financial statements and exhibits
    • Current report18 Sept 2026
      Material agreement · Item 3.02 · Financial statements and exhibits
    • Current report20 Aug 2026
      Material agreement · Item 3.02 · Financial statements and exhibits
    • Quarterly report14 Aug 2026
    • Current report09 Jul 2026
      Material agreement · Item 3.03 · Amendments to articles or bylaws · Financial statements and exhibits
    • Current report08 Jul 2026
      Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
    • Current report02 Jul 2026
      Material agreement · Creation of a direct financial obligation · Item 3.02 · Financial statements and exhibits
    • Current report08 Jun 2026
      Material agreement · Creation of a direct financial obligation · Item 3.02 · Financial statements and exhibits

    Sources

    1. [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Newton Golf Company, Inc. · 31 Mar 2026
    2. [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Newton Golf Company, Inc. · 14 Aug 2026
    3. [3] Form 8-K, results release (exhibit 99.1) · SEC / Newton Golf Company, Inc. · 14 May 2026

    Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.