TruGolf Holdings, Inc. (TRUG) Revenue History
Annual and quarterly revenue from 2020 to 2025
Compound Annual Growth Rate (CAGR)
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TRUG Revenue Growth
Revenue Breakdown (FY 2025)
TRUG's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
TRUG Revenue Analysis (2020–2025)
As of May 8, 2026, TruGolf Holdings, Inc. (TRUG) generated trailing twelve-month (TTM) revenue of $18.9 million, reflecting significant decline in growth of -24.7% year-over-year. The most recent quarter (Q4 2025) recorded $5.1 million in revenue, up 23.6% sequentially.
Looking at the longer-term picture, TRUG's historical revenue data shows a 3-year CAGR of -2.3%. The company achieved its highest annual revenue of $21.9 million in 2024.
Revenue diversification analysis shows TRUG's business is primarily driven by Franchise Revenue (70%), and Other (30%). With over half of revenue concentrated in Franchise Revenue, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including ACHR, MODG (-3.6% YoY), and GOLF (+6.3% YoY), TRUG has underperformed the peer group in terms of revenue growth. Compare TRUG vs ACHR →
TRUG Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| TRUGCurrent | $19M | -24.7% | - | -32.3% | |
 ACHR | $300,000 | - | - | -243100.0% | |
 MODG | $4.2B | -3.6% | +20.0% | -29.7% | |
 GOLF | $2.6B | +6.3% | +9.7% | 11.5% | |
 SG | $679M | -1.5% | +25.2% | -16.4% | |
 PLBY | $121M | -19.0% | -3.9% | -2.7% |
TRUG Historical Revenue Data (2020–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $18.9M | -13.6% | $4.9M | 26.0% | $-6,102,354 | -32.3% |
| 2024 | $21.9M | +6.2% | $14.6M | 66.7% | $-2,102,961 | -9.6% |
| 2023 | $20.6M | +1.8% | $12.0M | 58.5% | $-8,660,212 | -42.1% |
| 2022 | $20.2M | -4.8% | $13.2M | 65.3% | $732K | 3.6% |
| 2021 | $21.2M | - | $15.5M | 72.8% | $6.3M | 29.7% |
| 2020 | $0 | - | $0 | - | $-59,395 | - |
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Start ComparisonTRUG — Frequently Asked Questions
Quick answers to the most common questions about buying TRUG stock.
Is TRUG's revenue growth accelerating or slowing?
TRUG revenue declined -24.7% year-over-year, contrasting with the 5-year CAGR of N/A. TTM revenue fell to $19M. This reverses the prior growth trend.
What is TRUG's long-term revenue growth rate?
TruGolf Holdings, Inc.'s 5-year revenue CAGR of N/A reflects the variable expansion pattern. Current YoY growth of -24.7% is below this long-term average.
How is TRUG's revenue distributed by segment?
TRUG reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2020-2025 are available for download. Segment mix reveals concentration and diversification trends.