The bottom line tumbled 71% to $25.0 million in Q1 from $86.7 million prior, as combined products and services revenue increased 12% to $1,167.4 million from $1,040.2 million, with both Topgolf and the legacy softgoods businesses improving, though equipment sales faltered. Constant currency, revenues increased 15%. MODG’s preferred adjusted EBITDA metric declined just 7% to $157.3 million from $169.8 million, cutting out higher interest expense, depreciation and one-time items. Sales in the U.S. increased 14% to $811.1 million, while Europe grew 14% (+21% CC) to $153.6 million, Asia inched up 1% ... Log in to view full article.