TruGolf Holdings, Inc.
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 14, 2026
TRUG$0.51-3.5%Stored close · as of Nov 9, 2026
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenue, net | $5,792,180 | $4,310,864 | $10,812,442 | $9,700,094 |
| Cost of revenue | 2,326,282 | 2,537,654 | 4,663,548 | 4,489,173 |
| Total gross profit | 3,465,898 | 1,773,210 | 6,148,894 | 5,210,921 |
| Operating expenses: | ||||
| Salaries, wages and benefits | 1,240,565 | 1,006,210 | 2,033,976 | 2,953,026 |
| Selling, general and administrative | 2,447,339 | 2,637,026 | 5,631,503 | 5,362,145 |
| Total operating expenses | 3,687,904 | 3,643,236 | 7,665,479 | 8,315,171 |
| Loss from operations | (222,006) | (1,870,026) | (1,516,585) | (3,104,250) |
| Other (expense) income: | ||||
| Interest income | 45,892 | 64,830 | 100,340 | 119,426 |
| Interest expense | (263,702) | (1,516,874) | (470,865) | (3,007,568) |
| Other income (expense) | (7,992) | 600 | (7,992) | 600 |
| Total other expense | (225,802) | (1,451,444) | (378,517) | (2,887,542) |
| Loss from operations before provision for income taxes | (447,808) | (3,321,470) | (1,895,102) | (5,991,792) |
| Provision for income taxes | - | - | - | - |
| Net loss | $(447,808) | $(3,321,470) | $(1,895,102) | $(5,991,792) |
| Net loss per common share - basic and diluted | $(0.37) | $(4.63) | $(2.18) | $(9.31) |
| Weighted average shares outstanding - basic and diluted | 1,206,000 | 717,928 | 868,000 | 643,657 |
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT
| Series A Preferred Stock · Class A Common Stock · Class B Common Stock · Treasury Stock · Additional Paid-in · Accumulated | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Capital · Deficit · Total | |||||||||||||
| Balance at December 31, 2024 | - | $ | - | 52,241 | $5 | 3,434 | $ | - | (9) | $(2,037,000) | $18,551,710 | $(21,155,496) | $(4,640,781) |
| Issuance of common stock for interest and make good | - | - | 4,805 | - | - | - | - | - | 1,087,513 | - | 1,087,513 | ||
| Issuance of common stock for conversion of notes | - | - | 1,324 | - | - | - | - | - | 1,655,000 | - | 1,655,000 | ||
| Stock-based compensation- options | - | - | - | - | - | - | - | - | 3,341 | - | 3,341 | ||
| Net loss | - | - | - | - | - | - | - | - | - | (2,670,322) | (2,670,322) | ||
| Balance as of March 31, 2025 | - | $ | - | 58,370 | $5 | 3,434 | $ | - | (9) | $(2,037,000) | $21,297,564 | $(23,825,818) | $(4,565,249) |
| Issuance of common stock for PIPE interest and make good | 11,115 | 1 | 1,082,193 | 1,082,194 | |||||||||
| Issuance of common stock for conversion of PIPE notes | 3,116 | - | 1,558,000 | 1,558,000 | |||||||||
| Issuance of common stock for conversion of dividend note payable | 8,466 | 1 | 16,565 | 2 | 3,905,558 | 3,905,561 | |||||||
| Reverse stock split adjustment | (5) | - | - | ||||||||||
| Stock-based compensation - options | 3,342 | 3,342 | |||||||||||
| Issuance of Series A Preferred and associated warrants | 189 | - | - | - | - | - | - | - | 5,651,310 | - | 5,651,310 | ||
| Net loss | - | - | - | - | - | - | - | - | - | (3,321,470) | (3,321,470) | ||
| Balance as of June 30, 2025 | 189 | $ | - | 81,062 | $7 | 19,999 | $2 | (9) | $(2,037,000) | $33,497,967 | $(27,147,288) | $4,313,688 | |
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT
| Series A Preferred Stock · Class A Common Stock · Class B Common Stock · Treasury Stock · Additional Paid-in · Accumulated | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · Capital · Deficit · Total | ||||||||||||
| Balance at December 31, 2025 | 5,427 | $1 | 422,899 | $41 | 19,999 | $2 | (9) | $(2,037,000) | $47,413,839 | $(41,076,500) | $4,300,383 | |
| Issuance of common stock for conversion of Series A Preferred and dividends | (1,349) | (1) | 226,828 | 23 | - | - | - | - | 2,043,278 | (2,043,300) | - | |
| Reversal of cancelled preferred stock conversions | 62 | - | (8,721) | (1) | - | - | - | - | (80,731) | 80,732 | - | |
| Repurchase of common stock | - | - | - | - | - | - | - | (345,000) | - | - | (345,000) | |
| Net loss | - | - | - | - | - | - | - | - | - | (1,447,294) | (1,447,294) | |
| Balance as of March 31, 2026 | 4,140 | $ | - | 641,006 | $63 | 19,999 | $2 | (9) | $(2,382,000) | $49,376,386 | $(44,486,362) | $2,508,089 |
| Issuance of common stock for conversion of Series A Preferred and dividends | (1,331) | - | 928,528 | 93 | - | - | - | - | 3,311,325 | (3,311,418) | - | |
| Cancelled preferred stock conversions | (16) | - | - | - | - | - | - | - | - | - | - | |
| Net loss | - | - | - | - | - | - | - | - | - | (447,808) | (447,808) | |
| Balance as of June 30, 2026 | 2,793 | $ | - | 1,569,534 | $156 | 19,999 | $2 | (9) | $(2,382,000) | $52,687,711 | $(48,245,588) | $2,060,281 |
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