1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Thesis
3. Valuation & Price Target
4. Business & Product Moat
5. People & Governance
6. Market & Macro
7. Financial Quality
8. Risk Register
9. Prediction Market
10. 𝕏 Posts
Discussion
1. Investment Snapshot
2. Metrics vs Peers
3. Price Chart
4. Valuation
5. Offer Terms
6. Financial Statements
Discussion
Research report, target price, DCF and forensic scores are for subscribers. View plans
Symbol
SPGC
Listed on
2023-08-15
Sector
Consumer
Subsector
Leisure Products
Offer Price
$4.00
first filed $4.00–$5.00Shares Offered
3.2M
14.6M
$58.4M
21.9%
Implied Upside vs Midpoint
Description
Sacks Parente Golf, Inc. (“SPG”) is a technology-forward golf company, with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related products. In April 2022, in consideration of our growth opportunities in shaft technologies, we expanded our manufacturing business to include advanced premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. We intend to manufacture and assemble substantially all products in the United States. We anticipate expanding into golf apparel and other golf related product lines to enhance our growth. Our future expansions may include broadening our offerings through mergers, acquisitions or internal developments of product lines that are complementary to our premium brand. Product Portfolio Characteristics We design, manufacture and sell technology-forward, high-quality golf equipment, which is comprised of putting instruments, golf shafts, golf grips and related product groups. We design our golf products to fit golfers of all skill levels, amateur and professional, and our products are designed with the goal of conforming to the Rules of Golf as published by the United States Golf Association (“USGA”) and the ruling authority (“The R&A”). Our Products Our equipment includes putting instruments, golf shafts and grips. Our putting instruments are generally made of steel, aluminum, titanium alloys, carbon fiber, tungsten, and various other materials, including our patented magnesium face plate technologies. All of our products are currently sold under the SPG brand, but we intend to private label and sell certain components to interested third parties. Our shaft and putter technology has been shown by The Golf Lab, a Canadian golf research and education provider, to improve players’ ability to make putts, feel of the putter head, stroke, face angle at impact, and consistency for distance control. Our management believes that our proprietary shaft designs can enhance the performance of players’ putters as well as drivers and other golf clubs. Further, our management believes that these innovative designs, along with our proprietary manufacturing techniques, create performance improvements over traditional golf shafts. --- We were formed in 2018 as Sacks Parente Golf Company, LLC, a Delaware limited liability company. On March 18th, 2022, we converted into a Delaware corporation named Sacks Parente Golf, Inc. --- Sacks Parente Golf, Inc. 551 Calle San Pablo Camarillo, CA 93012 Telephone number: 833-776-6659. Our website: www.sacksparente.com.
| Metric | Value | Peer median | Among peers | |
|---|---|---|---|---|
EV / revenue | >100x | 6.7x | ||
Gross margin | 42.1% | 36.5% | ||
Operating margin | -1509% | -18.9% | ||
Net margin | -1845% | -22.4% | ||
Free cash flow margin | -453% | -2.3% | ||
Net cash / market cap | 0.3% | 0.3% | ||
Debt / equity | 0.00 | 0.00 | ||
Current ratio | 0.15 | 0.99 | ||
9 premium metrics: DCF value / price, Growth the price needs: how common, Last 12 months vs full year and 6 more Unlock | ||||
▼ Priced at $4.00, 11% below the midpoint of the first filed range ($4.00–$5.00, 2022-12-09).
Each filing is plotted ahead of the first trading day on the price chart.
| Filed | Form | Price range | Price | Shares offered | Deal size |
|---|---|---|---|---|---|
| 2022-08-05 | S-1 | — | — | 561,375 | — |
| 2022-10-03 | S-1/A | — | — | 561,375 | — |
| 2022-12-09 | S-1/A | $4.00–$5.00 | — | 4,444,444 | $20.0M |
| 2023-01-11 | S-1/A | $4.00–$5.00 | — | 4,444,444 | $20.0M |
| 2023-01-27 | S-1/A | $4.00–$5.00 | — | 4,444,444 | $20.0M |
| 2023-03-23 | S-1/A | $4.00–$5.00 | — | 4,444,444 | $20.0M |
| 2023-03-27 | S-1/A | $4.00–$5.00 | — | 4,444,444 | $20.0M |
| 2023-04-20 | S-1/A | $4.00–$5.00 | — | 3,000,000 | $13.5M |
| 2023-05-24 | S-1/A | $4.00–$5.00 | — | 3,000,000 | $13.5M |
| 2023-08-01 | S-1/A | — | — | 8,337,055 | — |
| 2023-08-16 | 424B4 | — | $4.00 | 3,200,000 | $12.8M |
Newton Golf Company, Inc. income statement and balance sheet, FY Dec 2022 to FY Dec 2025, as reported in SEC filings.
| Metric | FY Dec 2022 | FY Dec 2023after listing | FY Dec 2024after listing | FY Dec 2025after listing |
|---|---|---|---|---|
| Revenue | $190K | $349K | $3.4M | $8.1M |
| Gross profit | $80.0K | $122K | $2.3M | $4.6M |
| Operating income | ($2.9M) | ($4.6M) | ($5.0M) | ($7.5M) |
| Net income | ($3.5M) | ($4.6M) | ($11.8M) | ($6.0M) |
| Revenue growth | — | 83.7% | 887% | 136% |
| Gross margin | 42.1% | 35.0% | 66.0% | 56.0% |
| Operating margin | −1509% | −1328% | −144% | −92.8% |
| Net margin | −1845% | −1325% | −341% | −74.0% |
| Metric | FY Dec 2022 | FY Dec 2023after listing | FY Dec 2024after listing | FY Dec 2025after listing |
|---|---|---|---|---|
| Total assets | $710K | $6.4M | $9.8M | $3.3M |
| Total liabilities | $2.2M | $604K | $15.0M | $2.4M |
| Total equity | ($1.9M) | $5.8M | ($5.2M) | $926K |
| Cash & equivalents | $147K | $5.3M | $7.7M | $1.3M |