Newton Golf Company, Inc. (NWTG) Form 10-Q — Aug 14, 2026

$NWTGForm 10-QFiled Aug 14, 2026, 4:16 PM ET0001493152-26-038399Original filing

Newton Golf Company's 10-Q for the quarter ended June 30, 2026 carries substantial doubt about its ability to continue as a going concern, after a $4.9 million first-half net loss, $2.8 million of operating cash burn, and a stockholders' deficiency of $3.5 million. Cash on hand was just $442,000 at quarter end. Net sales fell 36% to $1.3 million in the second quarter and 30% to $2.3 million for the six months, as a manufacturing transition at its St. Joseph, Missouri shaft facility and temporary carbon fiber supply constraints cut production throughput; the company says additional supply was secured and marketing resumed in late July 2026.

Key figures

Eps: -$1.07 six months; -$0.49 Q2 (basic and diluted)
Revenue: Q2 2026: $1,316,000; six months 2026: $2,307,000
Net Income: -$4,937,000 six months; -$2,278,000 Q2
Total Debt: $2.44M convertible notes (net carrying) plus $750,000 drawn on $5.0M revolver as of Aug 13, 2026
Revenue Yoy: -36% Q2; -30% six months
Total Assets: 2489000
Cash Position: 442000
Shares Outstanding: 5,422,276 as of Aug 13, 2026; 4,670,396 at June 30, 2026
Atm Program: Up to $10.0M with Kingswood Capital Partners; no shares sold as of June 30, 2026
Going Concern: Yes
Gross Margin Q2: 69.2% vs 67.6% prior year
Nasdaq Deficiency: Notice dated April 6, 2026 under Rule 5550(b)(1) minimum $2.5M stockholders' equity; compliance plan submitted, no Nasdaq response as of filing
Subsequent Revolver: $5.0M senior secured facility at Daily Simple SOFR + 13%, matures July 1, 2028, $200,000 minimum advances
Reverse Split History: ["1-for-10 effective July 30, 2024","1-for-30 effective March 17, 2025"]
Gross Margin Six Months: 67% vs 69% prior year
Antidilutive Securities: 4263371
Convertible Notes Issued: $2.25M principal at 10%, convertible at $1.60, plus 225,000 warrants at $1.75
Warrant Liability Balance: 1429000
Subsequent Private Placement: $1.0M gross / ~$880K net at $1.33 per share, 751,880 shares, closed Aug 14, 2026
Subsequent Preferred Exchange: ~$2.3M convertible notes exchanged for 24,092.61 Series A Convertible Preferred shares at $100/share implied, 10% dividend, $1.00 conversion price
Idle Manufacturing Costs Expensed: 704000

Price after filing

1 day: +0.8%7 days: +5.3%30 days: -3.8%

Close on the filing date to close N calendar days later (from $1.32). Historical, not a forecast.

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