Callaway Golf Co.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Callaway Golf Co. reported revenue of $2.1B (-51.4% year on year) and net income of ($409.3M) (+71.7% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net sales | $2.1B | $4.2B | $4.3B | $4.0B |
| Cost of sales | $1.2B | $1.4B | $1.4B | $1.4B |
| Gross profit | $867.6M | — | — | — |
| Selling, general and administrative expense | $674.0M | $1.0B | $1.0B | $970.6M |
| Research and development expense | $65.5M | $92.1M | $101.6M | $76.4M |
| Total operating expenses | $739.5M | $5.5B | $4.0B | $3.7B |
| Income (loss) from continuing operations | $128.1M | ($1.3B) | $237.7M | $256.8M |
| Interest expense, net | ($60.6M) | ($231.2M) | ($210.2M) | ($142.8M) |
| Other income, net | $20.1M | $15.2M | $7.3M | $27.9M |
| Income (loss) from continuing operations, before income taxes | $87.6M | ($1.5B) | $34.8M | $141.9M |
| Income tax provision (benefit) | $48.8M | ($25.5M) | ($60.2M) | ($16.0M) |
| Net income (loss) from continuing operations | $38.8M | — | — | — |
| Income (loss) from discontinued operations, net of tax | ($448.1M) | — | — | — |
| Net income (loss) | ($409.3M) | ($1.4B) | — | $157.9M |
| Discontinued operations (in dollars per share) | -$2.44 | — | — | — |
| Basic earnings (loss) per common share (in dollars per share) | -$2.23 | -$7.88 | $0.51 | $0.85 |
| Continuing operations (in dollars per share) | $0.21 | — | — | — |
| Discontinued operations, diluted (in dollars per share) | -$2.41 | — | — | — |
| Diluted earnings (loss) per common share (in dollars per share) | -$2.20 | -$7.88 | $0.50 | $0.82 |
| Basic (in shares) | 183.7M | 183.7M | 185.0M | 184.9M |
| Diluted (in shares) | 185.7M | 183.7M | 201.1M | 201.3M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Net sales | $612.2M | $687.5M | $934.0M | $1.1B |
| Cost of sales | $305.5M | $360.8M | $279.1M | $354.5M |
| Gross profit | $306.7M | $326.7M | — | — |
| Selling, general and administrative expense | $176.1M | $173.3M | $210.6M | $241.8M |
| Research and development expense | $15.8M | $15.2M | $20.1M | $19.8M |
| Total operating expenses | $191.9M | $188.5M | $905.7M | $1.0B |
| Income (loss) from operations | $114.8M | $138.2M | $28.3M | $105.8M |
| Interest income (expense), net | ($4.6M) | ($5.8M) | ($59.2M) | ($58.7M) |
| Other income (expense), net | $1.4M | $2.9M | $8.6M | ($13.0M) |
| Total other income (expense), net | ($3.2M) | ($2.9M) | — | — |
| Income (loss) from equity method investments | ($1.0M) | ($27.7M) | — | — |
| Income (loss) from continuing operations, before income taxes | $110.6M | $107.6M | ($22.3M) | $34.1M |
| Income tax provision (benefit) | $34.8M | $32.7M | ($7.6M) | $13.8M |
| Net income (loss) from continuing operations | $75.8M | $74.9M | — | — |
| Income (loss) from discontinued operations, net of tax | ($600.0K) | $18.2M | — | — |
| Net income (loss) | $75.2M | $93.1M | ($14.7M) | $20.3M |
| Continuing operations (in dollars per share) | $0.42 | $0.41 | — | — |
| Net earnings (loss) (in dollars per share) | $0.42 | $0.51 | -$0.08 | $0.11 |
| Continuing operations (in dollars per share) | $0.40 | $0.38 | — | — |
| Discontinued operations (in dollars per share) | $0.00 | $0.10 | — | — |
| Net earnings (loss) (in dollars per share) | $0.40 | $0.47 | -$0.08 | $0.11 |
| Basic (in shares) | 179.7M | 183.7M | 183.9M | 183.8M |
| Diluted (in shares) | 190.1M | 202.7M | 183.9M | 185.1M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $903.2M | $445.0M | $393.5M | $180.2M |
| Accounts receivable, less allowances of $4.9 million and $5.8 million, respectively | $123.2M | $175.7M | $200.5M | $167.3M |
| Inventories | $625.3M | $757.3M | $794.4M | $959.2M |
| Prepaid expenses | $44.1M | $61.7M | $55.8M | $57.1M |
| Other current assets | $69.8M | $160.3M | $183.1M | $136.0M |
| Current assets of discontinued operations (Note 4) | $4.2B | — | — | — |
| Total current assets | $5.9B | $1.6B | $1.6B | $1.5B |
| Property, plant and equipment, net | $159.5M | $2.2B | $2.2B | $1.8B |
| Operating lease right-of-use assets, net | $173.5M | $1.3B | $1.4B | $1.4B |
| Intangible assets, net | $222.4M | — | — | — |
| Goodwill | $619.8M | $620.2M | $2.0B | $2.0B |
| Other assets, net | $175.2M | $484.4M | $431.7M | $355.4M |
| Long-term assets of discontinued operations (Note 4) | $0 | — | — | — |
| Total assets | $7.3B | $7.6B | $9.1B | $8.6B |
| Accounts payable and accrued expenses | $296.2M | $451.3M | $480.5M | $580.0M |
| Accrued employee compensation and benefits | $84.9M | $113.4M | $113.1M | $135.2M |
| Long-term debt, current portion | $765.3M | — | — | — |
| Asset-based credit facilities | $44.7M | $25.4M | $54.7M | $219.3M |
| Operating lease liabilities, short-term | $22.9M | $89.3M | $86.4M | $76.4M |
| Deferred revenue | $21.5M | $96.0M | $110.9M | $94.9M |
| Other current liabilities | $18.5M | $44.5M | $42.7M | $35.0M |
| Current liabilities of discontinued operations (Note 4) | $3.1B | — | — | — |
| Total current liabilities | $4.4B | $825.9M | $947.6M | $1.2B |
| Long-term debt, net | $650.7M | $1.5B | $1.5B | $1.2B |
| Operating lease liabilities, long-term | $189.7M | $1.4B | $1.4B | $1.4B |
| Other long-term liabilities | $9.2M | $347.8M | $326.5M | $250.6M |
| Long-term liabilities of discontinued operations (Note 4) | $0 | — | — | — |
| Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at both December 31, 2025 and December 31, 2024 | 0 | 0 | 0 | 0 |
| Common stock, $0.01 par value, 360.0 million shares authorized, 186.2 million shares issued at both December 31, 2025 and December 31, 2024 | 1.9M | 1.9M | 1.9M | 1.9M |
| Additional paid-in capital | $3.0B | $3.0B | $3.0B | $3.0B |
| Retained earnings (accumulated deficit) | ($909.5M) | ($500.2M) | $947.5M | $852.5M |
| Accumulated other comprehensive loss | ($27.6M) | ($76.0M) | ($47.5M) | ($61.5M) |
| Less: Common stock held in treasury, at cost, 2.3 million shares and 3.1 million shares at December 31, 2025 and December 31, 2024, respectively | -33.4M | -50.8M | -56.4M | — |
| Total shareholders’ equity | $2.1B | $2.4B | $3.9B | $3.8B |
| Total liabilities and shareholders’ equity | $7.3B | $7.6B | $9.1B | $8.6B |
| Common stock, issued (in shares) | 186.2M | — | — | — |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $278.1M | $499.5M | $865.6M | $683.5M |
| Restricted cash | $200.0K | — | $0 | $0 |
| Accounts receivable, less allowance of $5.0 million and $4.9 million, respectively | $315.7M | $393.8M | $218.5M | $338.0M |
| Inventories | $518.2M | $596.4M | $568.7M | $608.9M |
| Prepaid expenses | $39.1M | $45.5M | $70.9M | $73.7M |
| Other current assets | $96.1M | $90.1M | $144.7M | $177.2M |
| Current assets of discontinued operations (Note 3) | $0 | $0 | — | — |
| Total current assets | $1.2B | $1.6B | $1.9B | $1.9B |
| Property, plant and equipment, net | $155.7M | $156.2M | $2.2B | $2.2B |
| Operating lease right-of-use assets, net | $161.0M | $164.5M | $1.2B | $1.3B |
| Trade names and trademarks | $218.8M | — | $1.1B | $1.1B |
| Net book value | $3.1M | — | — | — |
| Goodwill | $619.5M | $619.6M | $619.8M | $619.9M |
| Equity method investments (Note 9) | $213.9M | $221.2M | — | — |
| Deferred tax assets, long-term | $72.9M | — | — | — |
| Other assets, net | $90.6M | $171.6M | $455.2M | $451.4M |
| Total assets | $2.8B | $3.2B | $7.6B | $7.6B |
| Accounts payable and accrued expenses | $236.2M | $282.9M | $332.9M | $379.2M |
| Accrued employee compensation and benefits | $66.2M | $54.2M | $133.6M | $106.9M |
| Long-term debt, current portion | $3.6M | $274.4M | — | — |
| Asset-based credit facilities | $43.1M | $44.1M | $47.3M | $48.6M |
| Operating lease liabilities, short-term | $23.1M | $22.6M | $80.8M | $79.7M |
| Deferred revenue | $15.9M | $15.5M | $77.5M | $86.3M |
| Other current liabilities | $21.8M | $19.9M | $29.0M | $35.1M |
| Current liabilities of discontinued operations (Note 3) | $0 | $0 | — | — |
| Total current liabilities | $409.9M | $713.6M | $998.7M | $1.0B |
| Long-term debt, net | $4.1M | $152.9M | $1.2B | $1.2B |
| Operating lease liabilities, long-term | $176.5M | $181.1M | $1.3B | $1.3B |
| Other long-term liabilities | $30.0M | $9.0M | $42.8M | $345.3M |
| Preferred stock, $0.01 par value, 3.0 million shares authorized, none issued and outstanding at both June 30, 2026 and December 31, 2025 | 0 | 0 | 0 | 0 |
| Common stock, $0.01 par value, 360.0 million shares authorized, and 186.2 million shares issued at both June 30, 2026 and December 31, 2025 | 1.9M | 1.9M | 1.9M | 1.9M |
| Additional paid-in capital | $3.0B | $3.0B | $3.0B | $3.0B |
| Retained earnings (accumulated deficit) | ($741.2M) | ($816.4M) | ($492.5M) | ($477.8M) |
| Accumulated other comprehensive loss | ($34.2M) | ($33.7M) | ($30.3M) | ($28.7M) |
| Less: Common stock held in treasury, at cost, 7.1 million and 2.3 million shares as of June 30, 2026 and December 31, 2025, respectively | -100.9M | -60.9M | -34.3M | -34.6M |
| Total shareholders’ equity | $2.2B | $2.1B | $2.5B | $2.5B |
| Total liabilities and shareholders’ equity | $2.8B | $3.2B | $7.6B | $7.6B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income from continuing operations | $38.8M | — | — | — |
| Depreciation and amortization | $46.4M | $268.4M | $239.7M | $192.8M |
| Amortization of debt discount and issuance costs | $6.0M | $5.7M | $6.5M | $9.8M |
| Impairment losses | $2.1M | — | $11.7M | $5.5M |
| Deferred taxes, net | $19.0M | ($48.2M) | ($88.9M) | ($31.0M) |
| Share-based compensation | $23.8M | $37.0M | $46.7M | $47.0M |
| Loss on debt modification | $0 | $4.7M | $10.5M | — |
| Loss on disposals of long-lived assets | $1.2M | — | — | — |
| Unrealized net losses (gains) on hedging instruments and foreign currency | ($1.8M) | $7.5M | $8.7M | $17.5M |
| Other | $400.0K | $1.7M | $1.4M | $10.9M |
| Accounts receivable, net | $23.5M | $17.2M | ($34.2M) | ($75.6M) |
| Inventories | $9.2M | $12.2M | $163.2M | ($442.4M) |
| Other assets | ($9.0M) | $23.4M | ($32.0M) | ($20.7M) |
| Accounts payable and accrued expenses | $14.6M | ($6.4M) | ($98.1M) | $110.4M |
| Deferred revenue | $5.7M | ($14.8M) | $16.7M | $800.0K |
| Accrued employee compensation and benefits | $35.6M | $2.5M | ($22.8M) | $7.6M |
| Operating lease assets and liabilities, net | $1.5M | $12.5M | $16.6M | — |
| Income taxes receivable/payable, net | $3.5M | $500.0K | $6.2M | ($11.4M) |
| Other liabilities | ($800.0K) | $10.2M | $4.5M | $500.0K |
| Net cash provided by operating activities - continuing operations | $219.7M | — | — | — |
| Net cash provided by operating activities - discontinued operations | $114.3M | — | — | — |
| Net cash provided by operating activities | $334.0M | $382.0M | $364.7M | ($35.1M) |
| Capital expenditures | ($31.8M) | ($295.4M) | ($482.0M) | ($532.3M) |
| Investment in golf-related ventures | ($1.1M) | ($4.3M) | ($2.5M) | $0 |
| Acquisition of intangible assets | ($800.0K) | ($3.2M) | ($800.0K) | ($3.2M) |
| Proceeds from sales of intangible assets | $700.0K | — | — | — |
| Proceeds from sale of business lines, net of cash retained | $286.0M | — | — | — |
| Net cash provided by (used in) investing activities - continuing operations | $253.0M | — | — | — |
| Net cash used in investing activities - discontinued operations | ($231.4M) | — | — | — |
| Net cash provided by (used in) investing activities | $21.6M | ($297.3M) | ($542.9M) | ($535.1M) |
| Proceeds from borrowings on long-term debt | $0 | $0 | $1.2B | $176.8M |
| Repayments of long-term debt | ($18.0M) | ($78.9M) | ($794.5M) | ($96.6M) |
| Proceeds from (repayments of) credit facilities, net | $19.9M | ($25.5M) | ($272.4M) | $213.0M |
| Debt issuance costs | ($1.0M) | ($200.0K) | ($1.8M) | ($200.0K) |
| Repayments of financing leases | ($200.0K) | ($3.2M) | ($2.8M) | ($2.7M) |
| Exercise of stock options | $100.0K | $100.0K | $4.2M | $700.0K |
| Acquisition of treasury stock | ($3.7M) | ($31.4M) | ($56.0M) | ($35.8M) |
| Net cash provided by (used in) financing activities - continuing operations | ($2.9M) | — | — | — |
| Net cash provided by (used in) financing activities - discontinued operations | $94.4M | — | — | — |
| Net cash provided by (used in) financing activities | $91.5M | ($23.6M) | $375.8M | $425.3M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $6.1M | ($9.6M) | ($2.2M) | ($9.4M) |
| Net increase in cash, cash equivalents and restricted cash | $453.2M | $51.5M | $195.4M | ($154.3M) |
| Cash, cash equivalents and restricted cash at beginning of period | $450.3M | — | — | — |
| Cash, cash equivalents and restricted cash at end of period | $903.5M | $450.3M | $398.8M | $203.4M |
| Less: cash equivalents and restricted cash of discontinued operations at end of period | ($300.0K) | — | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income (loss) from continuing operations | $150.7M | $74.9M | — | — |
| Depreciation and amortization | $20.3M | $10.8M | $202.4M | $136.9M |
| Loss from equity method investments | $28.7M | $27.7M | — | — |
| Amortization of debt discount and issuance costs | $1.4M | $800.0K | $4.5M | $3.0M |
| Impairment losses | $1.8M | — | — | — |
| Gain on lease termination incentive | $0 | $0 | ($12.0M) | ($12.0M) |
| Deferred taxes, net | $47.9M | $19.5M | $5.1M | $17.0M |
| Share-based compensation | $12.4M | $6.4M | $17.9M | $14.0M |
| Loss from debt extinguishment | $9.8M | $7.5M | $0 | $0 |
| Loss (gain) on asset disposals, net | $600.0K | $600.0K | $7.6M | $6.9M |
| Unrealized net losses (gains) on hedging instruments and foreign currency | $2.0M | ($700.0K) | ($18.5M) | ($17.9M) |
| Gain on investment from golf-related ventures | ($4.6M) | ($4.5M) | — | — |
| Other | $0 | ($500.0K) | $100.0K | $200.0K |
| Accounts receivable, net | ($194.9M) | ($272.9M) | ($43.6M) | ($161.9M) |
| Inventories | $101.3M | $26.2M | $118.9M | $83.0M |
| Other assets | ($12.1M) | ($11.9M) | $3.2M | ($33.1M) |
| Accounts payable and accrued expenses | ($70.5M) | ($23.9M) | ($77.3M) | ($47.5M) |
| Deferred revenue | ($5.6M) | ($6.0M) | ($17.4M) | ($8.6M) |
| Accrued employee compensation and benefits | ($18.6M) | ($30.6M) | $26.1M | ($700.0K) |
| Lease assets and liabilities, net | $500.0K | — | — | — |
| Income taxes receivable/payable, net | $8.3M | $6.9M | ($9.7M) | ($9.1M) |
| Other liabilities | $1.1M | $1.2M | $0 | $3.9M |
| Net cash provided by (used in) operating activities - continuing operations | $80.5M | ($169.0M) | — | — |
| Net cash provided by (used in) operating activities - discontinued operations | $0 | $0 | — | — |
| Net cash provided by (used in) operating activities | $80.5M | ($169.0M) | $270.1M | $41.7M |
| Capital expenditures | ($18.4M) | ($7.0M) | ($210.6M) | ($144.3M) |
| Investment in golf-related ventures | ($600.0K) | — | ($1.1M) | ($600.0K) |
| Acquisition of intangible assets | $0 | — | ($900.0K) | ($800.0K) |
| Distributions from equity method investments | $5.6M | — | — | — |
| Proceeds from sale of business line, net of cash retained | $820.1M | $818.8M | $286.0M | $286.0M |
| Net cash provided by (used in) investing activities - continuing operations | $806.7M | $811.8M | — | — |
| Net cash provided by (used in) investing activities - discontinued operations | $0 | $0 | — | — |
| Net cash provided by (used in) investing activities | $806.7M | $811.8M | $73.4M | $140.3M |
| Repayments of long-term debt | ($1.4B) | ($1.0B) | — | — |
| Proceeds (repayments) on credit facilities, net | $0 | $0 | $19.9M | $19.9M |
| Debt issuance costs | $0 | $0 | ($400.0K) | ($400.0K) |
| Repayments of financing leases | ($700.0K) | ($100.0K) | ($2.5M) | ($1.8M) |
| Acquisition of treasury stock | ($84.5M) | ($42.0M) | ($3.4M) | ($3.3M) |
| Net cash provided by (used in) financing activities - continuing operations | ($1.5B) | ($1.0B) | — | — |
| Net cash provided by (used in) financing activities - discontinued operations | $0 | $0 | — | — |
| Net cash provided by (used in) financing activities | ($1.5B) | ($1.0B) | $65.4M | $43.8M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ($900.0K) | ($400.0K) | $6.7M | $7.7M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | ($625.2M) | ($404.0M) | $415.6M | $233.5M |
| Cash, cash equivalents and restricted cash at beginning of period | $903.5M | $903.5M | $450.3M | $450.3M |
| Cash, cash equivalents and restricted cash at end of period | $278.3M | $499.5M | $865.9M | $683.8M |
Callaway Golf Co. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.