TruGolf Announces Guidance for Second Half 2024

Anticipate sturdy revenues because of franchising and new merchandise

Will launch third quarter ends in the primary half of November

Salt Lake Metropolis, Utah, October 22, 2024 (GLOBE NEWSWIRE) — TruGolf Holdings, Inc. (NASDAQ: TRUG), a number one supplier of golf simulator software program and {hardware}, immediately introduced its monetary steerage for the rest of 2024. expects to report sturdy revenues for the second half of 2024, pushed partially by new revenues from its TruGolf Hyperlinks franchise enterprise, in addition to market acceptance of latest merchandise launched earlier this 12 months.

Chief Government Officer and Director Chris Jones mentioned: “We’ve got seen sturdy will increase in curiosity, leads and closures within the second and third quarters, which makes us excited for the dynamic progress forward of TruGolf. The launch of our franchise idea has been very effectively acquired available in the market and we count on it to develop additional within the coming years. Furthermore, our newly launched {hardware} and software program merchandise are extensively accepted by the market as a number one provider of golf simulator tools. The mixture of franchising and rising product gross sales ought to result in sturdy revenues within the second half of 2024.”

Outlook:

• Whole income is anticipated to develop 8% to 12% by the tip of 2024 in comparison with 2023 ranges.
• Second half EBITDA needs to be larger than $500,000, demonstrating a return to profitability.

Mr Jones continued: “We’re happy with our staff for his or her laborious work within the transition to a publicly traded firm. As well as, we’ve got added each an interim auditor and extra exterior accounting workers to strengthen the staff and guarantee well timed month-to-month closings, audits and recordkeeping. Consequently, we count on to report our third quarter ends in the primary half of November 2024.”

Disclaimer of Ahead-Trying Statements

This press launch comprises sure statements that represent “forward-looking statements” inside the that means of the Non-public Securities Litigation Reform Act of 1995. Such statements that don’t include historic info represent “forward-looking statements” and accordingly contain estimates, assumptions, forecasts, judgments and uncertainties. Ahead-looking statements embrace, with out limitation, the Firm’s forecasts for whole income and EBITDA mentioned above. There are a variety of things that might trigger precise outcomes or outcomes to vary materially from these expressed within the forward-looking statements. Such components are described intimately within the Ahead-Trying Statements and Danger Components sections of the Firm’s S-1 filed with the Securities and Trade Fee. We undertake no obligation to replace our forward-looking statements to replicate future occasions.

About TruGolf, Inc.:

Since 1983, TruGolf has been captivated with advancing the golf trade with progressive indoor golf options. TruGolf builds merchandise that seize the spirit of golf. TruGolf’s mission is to develop the sport by in search of to make it extra accessible, approachable and inexpensive via know-how – as a result of TruGolf believes golf is for everybody. The staff at TruGolf has constructed award-winning video video games (“Hyperlinks”), progressive {hardware} options and a wholly new esports platform to attach golfers all over the world to E6 CONNECT. Since TruGolf’s inception, TruGolf has continued to outline and redefine what is feasible with golf know-how.

Contact:
TruGolf Inc.
Brenner Adams, Chief Development Officer
801-298-1997
trug@trugolf.com