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Friday 6 November 2026
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TruGolf Holdings, Inc.
TRUG Communication Services Electronic Gaming & Multimedia
TruGolf Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $18.9 million, down 11.3% from fiscal 2024.
- Revenue
- +34.4%
- EPS
- +92.0%
- Free cash flow
- −5.69%
- Total debt
- −14.8%
Quarter to June 2026, against a year earlier
0.57
0.07
−10.94%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 21 | 21 | 19 | 20 | (4.2%) | 20 | 24 | — | +13.5% | |
| Gross margin, % | — | — | — | — | — | — | — | 61.98 | 65.22 | 50.42 | 51.92 | (11.6) pt | ||||||
| EBT | — | — | — | — | 0 | 0 | 0 | (10) | (9) | (15) | (11) | +203.2% | ||||||
| EBT margin, % | — | — | — | — | 0.00 | 0.00 | 0.00 | (49.96) | (41.33) | (80.66) | (55.26) | (80.7) pt | ||||||
| Net income | — | — | 0 | — | 0 | 0 | 0 | (10) | (9) | (15) | (11) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.00 | 1,716.18 | 9,145.98 | 637.80 | 167.02 | n/m | |||||
| Earnings | — | — | — | — | — | (41.20) | (236.84) | (435.37) | (3,800.00) | (513.90) | (539.87) | +87.9% | ||||||
| Cash flow | — | — | — | — | 0.00 | 0.00 | (410.53) | (511.36) | (1,717.06) | (57.38) | (14.46) | n/m | ||||||
| Capex | — | — | — | — | 0.00 | 0.00 | 0.00 | (10.62) | (746.80) | (116.11) | (33.15) | n/m | ||||||
| Free cash flow | — | — | — | — | 0.00 | 0.00 | (410.53) | (521.98) | (2,463.86) | (173.49) | (47.61) | n/m | ||||||
| Book value | — | — | — | — | 0.00 | (15.67) | (2,221.12) | (326.64) | (1,994.33) | 145.28 | 17.08 | n/m | ||||||
| Shares, m | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 | +165.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | — | 2.55 | 0.44 | 0.35 | 0.00 | 1.1 | ||||||
| P/B | — | — | — | — | — | — | — | 0.00 | 0.00 | 1.52 | 0.03 | 0.5 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 2.61 | 0.23 | (0.21) | (0.31) | 0.9 | ||||||
| EV/FCF | — | — | — | — | — | — | — | (98.48) | (0.86) | 0.77 | 1.10 | (32.9) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | 0 | 0 | (1) | (6) | (4) | (2) | (2) | +114.4% | |||||
| Capex | — | — | — | — | 0 | 0 | — | 0 | (2) | (3) | (4) | n/m | ||||||
| Free cash flow | — | — | — | — | 0 | 0 | (1) | (6) | (6) | (5) | (6) | +167.5% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 0 | 128 | 128 | 2 | (1) | 1 | (2) | +16.7% | |||||
| Net debt | — | — | — | — | (1) | (128) | (128) | 1 | (4) | (10) | (6) | +83.8% | ||||||
| Shareholders’ equity | — | — | — | — | 0 | 0 | (4) | (4) | (5) | 4 | 2 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | (22.10) | 0.00 | (0.64) | (80.51) | (53.45) | (81.60) | (52.56) | (59.5) pt | |||||
| ROIC | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | — | 0.00 | 0.00 | 21.87 | 198.55 | 205.54 | 8,947.06 | (349.27) | +8,947.1 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | 2 | 2 | 72 | 68 | — | +224.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.00 | 0.30 | 0.28 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 2 Nov 2026
TruGolf Holdings, Inc. vs peers in Electronic Gaming & Multimedia (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| GAME GameSquare Holdings, Inc. | $46.3M | — (loss-making) | — (loss-making) | +137.21% (above 0%: growing) | n/m | −263.32% (below 0%: shrinking) | 48.98% | (9.26%) | Compare |
| MSGM Motorsport Games Inc. | $19.6M | 10.0× | 15.3× | +36.58% (above 0%: growing) | −90.24% (below 0%: shrinking) | +381.17% (above 0%: growing) | 81.79% | 18.03% | Compare |
| SNAL Snail, Inc. | $16.3M | — (loss-making) | 4.9× | −11.31% (below 0%: shrinking) | n/m | +18.27% (above 0%: growing) | 39.07% | (13.54%) | Compare |
| GIGM GigaMedia Limited | $15.5M | 17.5× | — | +245.41% (above 0%: growing) | n/m | +52.13% (above 0%: growing) | 63.21% | 21.55% | Compare |
| GDC GD Culture Group Limited | $4.6M | — (loss-making) | — | −99.03% (below 0%: shrinking) | n/m | −512.34% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| GXAI Gaxos.ai Inc. | $4.0M | — (loss-making) | — (loss-making) | +1,337.08% (above 0%: growing) | n/m | −47.21% (below 0%: shrinking) | 100.00% | (75.89%) | Compare |
| DKI DarkIris Inc. | $1.6M | — | — | — | — | −34.78% (below 0%: shrinking) | — | — | Compare |
| MGAM Mobile Global Esports Inc. | $800.0K | — (loss-making) | — (loss-making) | +875.00% (above 0%: growing) | n/m | −3.83% (below 0%: shrinking) | (564.10%) | (5,439.10%) | Compare |
| TRUG TruGolf Holdings, Inc. | $730.0K | — (loss-making) | — (loss-making) | +34.36% (above 0%: growing) | n/m | −5.69% (below 0%: shrinking) | 59.84% | (3.83%) | |
| Median of peers | $10.0M | — | — | +137.21% | — | −19.30% | 48.98% | (9.26%) |
Pay and ownership Proxy statement filed 26 January 2026
Ownership
Directors and executive officers, together
26.90% of the votes
Christopher Jones
24.70% of the votes
David Ashby
12.40% of the votes
Steven R. Johnson
11.60% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement