NWTG
Newton Golf Company, Inc.
Next earnings ≈ Aug 13, 2026 · est. from filing cadence
Last earnings +0.0% on 2026-05-14
$0.82
▼ -14.65%$0.82▼ -43.45%
over 1Y
L $0.82H $2.02
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-14.6%
1W-19.6%
1M-16.3%
3M-42.3%
YTD-47.1%
1Y-43.4%
Avoid
Conviction
Horizon
Long (>12mo)
Street · 7 analysts
Buy
Going-concern nano-cap burning $5M/yr on $1.3M cash — real revenue growth can't outrun the runway math.
Revenue $8.13M · FY2025
Newton Golf is a $3.8M nano-cap with a genuine product story and a fatal balance sheet. The top line is the one bright spot: FY2025 revenue rose 136% to $8.13M, extending a steep ramp from $190K in 2022, and gross margin is a healthy 56.0% ($4.55M gross profit). The MD&A backs the numbers with substance — a proprietary DOT-fit shaft system, US manufacturing in St. Joseph MO, and 60+ professionals putting Newton shafts in play across the PGA TOUR Champions, Korn Ferry, and LPGA tours, plus three 2025 tournament wins. This is a real product gaining real adoption, not a shell.
But the economics below the gross line are broken and the clock is loud. Operating income was -$7.55M (a -92.8% operating margin), net loss -$6.02M, and operating cash flow -$5.17M — against just $1.30M of cash, which itself fell 83% year over year. That is well under three months of runway at the current burn. The auditor has issued an explicit going-concern qualification, stating survival 'is dependent upon our ability to obtain necessary debt or equity financing.' Total assets collapsed 66% to $3.30M and current liabilities ($2.33M) already exceed current assets ($2.19M) — negative working capital. Stockholders' equity is a razor-thin $926K sitting atop a -$28.1M accumulated deficit.
Is NWTG a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBear put spread (caution)~90d expiry
- Long put 1 @ ~0.25 est
- Short put 0.5 @ ~0.01 est
debit $24max +$26max −$24BE 0.76
AVOID means we wouldn't engage at all — if expressing the short side anyway, only with capped risk.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | $190K | $349K | $3.44M | $8.13M |
| Gross profit | $80.0K | $122K | $2.27M | $4.55M |
| Operating income | -$2.87M | -$4.63M | -$4.98M | -$7.55M |
| Net income | -$3.50M | -$4.63M | -$11.8M | -$6.02M |
| Diluted EPS | -$0.34 | -$113.38 | -$178.33 | -$1.63 |
| Net margin | -1844.7% | -1325.2% | -341.1% | -74.0% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$2.60M
EV / EBITDA—
EV / Sales0.3
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield-154.5%
FCF yield-144.6%
Quality & risk
ROIC (est.)-643.9%
Free cash flow-$5.63M
Total debt—
Net cash$1.30M
Altman Z-Score-16.07 distress
Piotroski F-Score3/8
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+7.1%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Material agreement2026-07-02
Another convertible-note financing with warrants — fresh debt plus more dilution
- 8-K Material agreement2026-06-08
Repeat convertible-note raise + share issuance; recurring dilutive funding need
- 8-K Officer / director change2026-05-20
Officer/director change (Item 5.02) — leadership transition, no financial impact stated
- 8-K Earnings results2026-05-14
Q1 FY26 10-Q; going-concern doubt persists with only ~$1.3M cash
- 10-Q Quarterly report2026-05-14
Q1 FY26 10-Q; going-concern doubt persists with only ~$1.3M cash
- 8-K Material agreement2026-04-13
Yet another convertible note + warrant raise; ongoing dilution to fund operations
- 8-K Delisting notice2026-04-09
Item 3.01 Nasdaq listing-deficiency notice — delisting risk for shareholders
- 10-K Annual report2026-03-31
FY25 revenue +136% to $8.1M, loss halved to -$6M, but going-concern doubt remains
- DEF 14A Proxy statement2025-11-21
Proxy for shareholder meeting — governance/authorization votes, no direct impact
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-06-262026-07-02open ↗4Period ending 2026-06-242026-06-26open ↗4Period ending 2026-06-242026-06-26open ↗4Period ending 2026-06-242026-06-26open ↗4Period ending 2026-06-242026-06-26open ↗8-KPeriod ending 2026-06-032026-06-08open ↗4Period ending 2026-05-192026-05-21open ↗3Period ending 2026-05-192026-05-21open ↗8-KPeriod ending 2026-05-192026-05-20open ↗8-KPeriod ending 2026-05-142026-05-14open ↗10-QPeriod ending 2026-03-312026-05-14open ↗8-KPeriod ending 2026-04-072026-04-13open ↗
Frequently asked
- Is Newton Golf Company, Inc. (NWTG) a buy?
- NWTG currently carries a Avoid rating with 5/5 conviction, derived from its latest SEC filings. Going-concern nano-cap burning $5M/yr on $1.3M cash — real revenue growth can't outrun the runway math.
- What is Newton Golf Company, Inc.'s quality score?
- NWTG scores 53.419831025988/100 (grade C-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001934245, latest 10-Q filed 2026-05-14) · EODHD · Proprietary analysis · as of 7/4/2026, 10:14:45 AM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jul 4, 2026, 6:14 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.