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AI brief of an SEC Form 8-K · Callaway Golf (CALY)

Topgolf Callaway Brands Q2 sales fall 4.1%, raises continuing-business 2025 outlook

Mixed Impact 4 of 5 earnings Written later

Topgolf Callaway Brands reported second quarter 2025 net revenue of $1,110.5 million, down 4.1% year over year, and GAAP net income of $20.3 million, down 67.3%. The company raised its full year 2025 Adjusted EBITDA guidance for continuing businesses to $430 million to $490 million, after completing the sale of Jack Wolfskin on May 31, 2025, which lowered its forecast revenue and EBITDA.

Key points

  • Q2 net revenue was $1,110.5 million, down 4.1%, mainly due to lower Active Lifestyle revenue after the Jack Wolfskin sale; GAAP diluted EPS was $0.11 versus $0.32 a year earlier
  • Non-GAAP diluted EPS was $0.24 versus $0.42, and Adjusted EBITDA was $195.8 million, down 4.8%
  • Full year 2025 Consolidated Adjusted EBITDA guidance is $430 million to $490 million, versus $415 million to $505 million previously; consolidated net revenue guidance is $3.80 billion to $3.92 billion following the Jack Wolfskin exclusion
  • Topgolf CEO Artie Starrs announced his resignation on July 31; he will remain through September 2025, and a Topgolf spin-off is likely not until 2026

The filing

CompanyCallaway Golf (CALY)
Form8-K, current report
Filed with the SECAug 6, 2025, 4:17 PM ET
Accession number0000837465-25-000076

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 06, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.