GolfNewsRI

Topgolf Callaway brands released their financial report for the fourth quarter and full year of 2024. 

For the full year, Topgolf’s same venue sales were down 9% overall. 

“Topgolf had a strong finish to the year with same venue sales, venue margins and adjusted free cash flow all outpacing expectations. Looking forward to 2025, improving same venue sales at Topgolf is a top priority for us and we are actively implementing initiatives to address same venue sales,” said President and CEO Chip Brewer in a statement. 

According to Topgolf Callaway, same venue sales is defined as sales for the comparable venue base, which is defined as the number of company-operated venues with at least 24 full fiscal months of operation in the year. 

As GolfNewsRI reported back in September, Topgolf and Callaway will be splitting into two companies later in 2025. 

Topgolf by the Numbers 

According to the financial statements for the year, Topgolf increased their revenue by $48.4 million for the year. 

Meaning their total revenue was $1,809.4 million for 2024. 

Topgolf says that was driven by the opening of new venues “partially offset by a decrease in same venue sales.” 

Topgolf ended the year with 100 owned and operated venues, up seven from 2023.