TruGolf Links to expand with 40 new Tennessee locations

KNOXVILLE - TruGolf Links Franchising, LLC, a subsidiary of TruGolf Holdings, Inc. (Nasdaq: TRUG), has announced a partnership with Knoxville entrepreneur John Young to develop 40 new indoor golf centers across Tennessee. The expansion will begin with a flagship center in Knoxville, aiming to offer a modern and inclusive golf experience for all skill levels. According to InvestingPro data, TruGolf has shown revenue growth of 7.7% over the last twelve months, despite challenging market conditions that have seen its stock price decline significantly.

Young, who has a background in accounting and business growth, is set to lead the statewide rollout of these high-tech golf facilities. His previous experience includes founding a cloud-based accounting firm that serves nonprofits. His personal connection to golf and his community ties are expected to support the successful establishment of TruGolf Links in the region. The company maintains a healthy gross profit margin of 57%, though InvestingPro analysis indicates it faces some near-term profitability challenges.

TruGolf Links franchises will feature advanced golf simulators, upscale bar and dining areas, and pro shops. The flagship location is planned to span over 5,000 square feet, including a double-size bay with stadium seating for events, while standard facilities will cover at least 3,800 square feet.

Chris Jones, the founder and CEO of TruGolf, Inc., expressed excitement about the partnership, emphasizing the company’s commitment to supporting owner-operators and investors. Young’s involvement in the President’s Circle, a franchise advisory council, will afford him benefits such as reduced fees and enhanced support.

This deal marks a significant step in TruGolf’s franchising strategy, which focuses on regional developers who can open and develop multiple units. The company has been a driving force in the golf industry since 1983, offering innovative solutions to make golf more accessible through technology.

The information for this article is based on a press release statement. InvestingPro offers additional insights on TruGolf’s financial health, with over 10 exclusive ProTips and comprehensive financial metrics available to subscribers. Current analysis suggests the stock may be undervalued relative to its Fair Value, presenting potential opportunities for investors seeking exposure to the growing indoor golf market.

In other recent news, TruGolf Holdings, Inc. has secured an extension from the Nasdaq Stock Market to meet its continued listing requirements. The company, previously known as Deep Medicine Acquisition Corp., now has until February 28, 2025, to comply with Nasdaq’s criteria, with a further extension to April 30, 2025, for the minimum bid price requirement if certain conditions are met. In November 2024, TruGolf reached an agreement with the holders of its convertible notes, waiving specific demands related to Nasdaq listing standards, initially set for compliance by January 15, 2025. This deadline has been extended, allowing TruGolf additional time to address listing requirements, including a potential reverse stock split to rectify the bid price issue. The January Waiver amends the previous agreement and offers TruGolf a lifeline to remain listed on Nasdaq. The company plans to file a preliminary proxy statement to hold a special meeting for shareholders to vote on the reverse stock split strategy. These developments are part of TruGolf’s ongoing efforts to align with Nasdaq’s regulatory framework and maintain its stock market listing. The details of the January Waiver have been filed with the SEC, ensuring transparency in the company’s regulatory compliance process.

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