Net loss narrowed to $26,226,000 in the final quarter from a loss of $40,576,000 prior, as product revenues inched up 2% to $380,290,000 from $374,629,000 and Topgolf added $331,434,000 in services revenue to bring the total to $711,724,000. U.S. revenues nearly tripled to $483.2 million, bolstered by Topgolf, while Europe grew 24% (+26% CC) to $113.0 million, Japan was off 13% (-5% CC) to $46.7 million and Rest of World gained 26% (+26% CC) to $68.9 million.

Topgolf is already cash-flow positive, and the business will need about $200 million less funding from Callaway than originally anticipated, with just $70 million ... Log in to view full article.