Short answer
Callaway Golf Co (CALY) filed its fiscal 2025 10-K annual report with the SEC on Feb 27, 2026. It reported revenue of $2.1B (−51.4% year over year) and net income of −$409M.
- Top risk flagged: Legal risk from uncertain income tax positions totaling $1.3M potentially affecting future tax liabilities (Note 12)
FY2025 key financial metrics · XBRL
- Revenue
- $2.1B
- −51.4% YoY
- Net income
- −$409M
- +71.7% YoY
- Operating margin
- 6.2%
- +35.9 pp YoY
- Gross margin
- 42.1%
- +21.2 pp YoY
- EPS (diluted)
- −$2.20
- +72.1% YoY
- ROE
- -19.8%
- +40.3 pp YoY
- Operating cash flow
- $334M
- −12.6% YoY
Source: XBRL data from the Callaway Golf Co (CALY) FY2025 10-K on SEC EDGAR. USD.
Callaway Golf Co FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model centered on golf equipment, accessories, and related services, including merged Topgolf segment
- Emphasis on equity compensation with 5.8 million shares issuable under 2022 Incentive Plan, 16.4 million shares available for future issuance
- Integration of Topgolf 2016 Stock Incentive Plan after merger, with 502,685 stock options outstanding at $30.82 exercise price
- Governance and compliance strengthened via Insider Trading Policy aligned with NYSE standards and U.S. insider laws
- No new product launches detailed; focus on corporate governance, employee compensation plans, and regulatory filings for FY2026
Management Discussion & Analysis
- Net accounts receivable decreased $14.0M to $123.2M as of Dec 31, 2025 from $137.2M a year earlier, reflecting lower net sales
- Inventory declined $2.9M to $625.3M as of Dec 31, 2025, driven by reduced in-transit inventory partially offset by buildup for 2026 launches
- Liquidity supported by cash balances, expected operations cash flow, and credit facilities, sufficient for next 12 months of obligations and capital needs
- No specific revenue, profitability, segment performance, cash flow, buyback, or dividend figures disclosed in the excerpt
- Management highlights risks to cash flow including economic trends, product demand, supply chain, inflation, and foreign exchange fluctuations
Risk Factors
- Legal risk from uncertain income tax positions totaling $1.3M potentially affecting future tax liabilities (Note 12)
- Geopolitical risk of 10% cash held outside U.S. with exposure to foreign withholding taxes on repatriation
- Operational risk from $87.2M unconditional purchase obligations including endorsements and licensing fees
- Competitive risk from brand TravisMathew expansion requiring $12.9M in new leases not yet commenced
- Financial risk of $1,478.7M debt due with $775.6M due in 2026 despite $1,000M partial loan repayment in Jan 2026
Generated from the filing text; verify against the original. How to read a 10-K
Ask about this 10-K
Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.