---
schema_version: "secwatch.filing_event.v1"
accession: "0000837465-25-000076"
form_type: "8-K"
ticker: "CALY"
cik: "0000837465"
company_name: "Callaway Golf Co"
filed_at: "2025-08-06T23:59:59+00:00"
generated_at: "2026-05-17T20:15:28.221569+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Topgolf Callaway Q2 rev $1.11B (-4.1% YoY), GAAP EPS $0.11, raises FY2025 outlook

## Summary
- Q2 consolidated net revenue $1,110.5M, down 4.1% YoY; Adj EBITDA $195.8M (-4.8%).
- GAAP net income $20.3M ($0.11 diluted EPS); Non-GAAP net income $45.6M ($0.24).
- Sale of Jack Wolfskin completed May 31; available liquidity up 48% YoY to $1.16B.
- Full year 2025 guidance raised: consolidated rev $3.80-3.92B, Adj EBITDA $430-490M.
- Topgolf CEO Artie Starrs resigned; spin-off likely delayed to 2026 after new CEO.

## SEC filing metadata
- accession: 0000837465-25-000076
- form_type: 8-K
- ticker: CALY
- cik: 0000837465
- company_name: Callaway Golf Co
- filed_at: 2025-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/837465/000083746525000076/0000837465-25-000076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/837465/000083746525000076/modg-20250806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000837465-25-000076
- JSON: https://secwatch.observer/filing/0000837465-25-000076.json
- Plain text: https://secwatch.observer/filing/0000837465-25-000076.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.