Sacks Parente Golf, Inc. (NASDAQ: SPGC), a technology-forward golf company, has announced its financial results for the fiscal second quarter ended June 30, 2024. The company reported revenue of $813,000 in the second quarter, representing a sequential increase of 132% from the previous quarter. This growth was driven by sales of the company’s higher-margin Newton shafts, which accounted for approximately 80% of the company’s revenue in the first two quarters of 2024. The company also achieved a gross margin of 60% in the second quarter.
In addition to its strong financial performance, Sacks Parente Golf has made significant strides in expanding its product line and increasing brand recognition. The company recently introduced a Weekly Driver Performance Pool program for players on the PGA TOUR Champions who use the company’s Newton Motion driver shafts in tournaments. This initiative has further enhanced the company’s reputation among competitive professionals who recognize and appreciate superior products.
Furthermore, Sacks Parente Golf has expanded its Newton Golf Shaft division with the addition of the Newton Motion Fairway Wood shaft, complementing the existing Newton Motion Driver shaft. The company’s engineering and product development efforts have received positive feedback from both professional golfers and amateur players, with many noting the added distance and control provided by Newton Motion shafts.
Looking ahead, Sacks Parente Golf anticipates continued revenue growth and brand building in the third quarter. The company’s advertising efforts have proven successful, and it expects to see further momentum for its Newton driver shaft among PGA TOUR Champions players. With its commitment to manufacturing and assembling products in the United States, as well as potential expansions into golf apparel and other golf-related product lines, Sacks Parente Golf is well-positioned for future growth.
For more information about Sacks Parente Golf and its innovative golf products, including putters, golf shafts, golf grips, and other accessories, visit the company’s website at https://sacksparente.com/.