To capitalize on the upcoming football season, Topgolf Callaway Brands (MODG) this fall is launching its first Topgolf football game across 51 venues.
“We are in the process of installing professional football spec field goalposts with the Topgolf game that creates a fun, competitive environment, where the task is simple: hit a golf ball through the post,’’ Topgolf CEO Artie Starrs told Wall Street analysts. “Our marketing calendar will be focused on activating the Topgolf occasion around the biggest sport in America.’’
Starrs, however, won’t be around to see it, as he will become CEO of Harley-Davidson (HOG) on Oct. 1, which, according to Topgolf Callaway Brands CEO Chip Brewer, makes it “impractical’’ to spin off the Topgolf and Callaway companies until 2026 when a new Topgolf CEO is in place.
On the development front, Topgolf opened only one venue – in Panama City Beach, FL. – in Q2 of 2025. It plans to open three. We will open three more venues this year – New Braunfels, Texas; Woodbury, MN., and Avon, Ohio.
Topgolf reported revenue in Q2 Segment decreased $9.1 million vs. Q2 of 2024 to $485.3 million, with a six percent decline in same venue sales being partially offset by revenue from new venues.
The same venue sales decline was ahead of expectations, primarily due to improved traffic trends from “new value’’ initiatives, such as Summer Fun Pass and TG Nights.
Topgolf’s Q2 earnings decreased one percent to vs. Q2 of ‘24 to slightly $55.4 million, the company said, due primarily to higher depreciation from new venues.
Topgolf’s revenue the first six months of this year fell four percent to $879 million compared to the same period in 2024. Earnings the first six months of this year fell 26 percent to $43 million.
Looking for a strong third quarter, Topgolf Callaway Brands has revised its same venue sales guidance from down six percent to 12 percent to down six percent to nine percent.
“As a result,’’ Brewer said, “we are narrowing the range of our full year Topgolf revenue guidance to $1.71 billion to $1.77 billion, which is $5 million higher than the previous guidance at the midpoint.’’
