Here are the 10-Q quarterly reports from Topgolf Callaway Brands Corp. (MODG) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow MODG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full MODG filings page.
Topgolf Callaway Brands (MODG) filed its Q3 2025 10-Q. The company reported total net revenues of $934.0 million versus $1,012.9 million a year ago, with a net loss of $14.7 million compared to a $3.6 million loss. Year‑to‑date, net revenues were $3,136.8 million versus $3,314.9 million and net income was $7.7 million versus $65.0 million.
Segment performance mixed: Topgolf revenue rose to $472.2 million from $453.2 million, while Golf Equipment edged up to $305.3 million from $293.5 million. Active Lifestyle declined to $156.5 million from $266.2 million. U.S. revenue was $749.9 million versus $724.6 million; Europe and Asia decreased.
Balance sheet improved in liquidity and leverage. Cash and cash equivalents were $865.6 million versus $445.0 million at December 31, 2024, aided by $286.0 million net proceeds from the Jack Wolfskin divestiture and offset by a pre‑tax loss on sale of $23.6 million. Long‑term debt, net fell to $1,191.5 million from $1,457.9, and convertible notes, net of $257.4 million are classified current. Shares outstanding were 183,883,637 as of October 29, 2025. The company continues to pursue a separation of Topgolf, subject to customary conditions.