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Article Date: February 2024
Word Count: 516

Topgolf Callaway Loss Expands in Q4

Net loss in the fourth quarter was $77.1 million against a loss of $72.7 million prior, on a 5% improvement in total revenues to $897.1 million from $851.3 million that included growth from Topgolf, golf equipment and apparel. Adjusted EBITDA nearly doubled to $69.8 million from $36.6 million, reflecting MODG’s growing interest burden and several one time charges—the abandonment of the Shankstars media game, restructuring and reorganization, and a cybersecurity incident, among them. Revenues from the U.S. grew 7% to $646.3 million, Europe fell 2% (-7% CC) to $117.3 million, Asia ... Log in to view full article.


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