Callaway Golf generated $712 million in revenue in Q4 2021, a 90% increase compared to the same period the year prior. Full-year revenue reached $3.1 billion, a 97% increase compared to FY2020.
The California-based company’s impressive fourth-quarter and full-year results were driven by the company’s Topgolf business and high demand for its golf equipment and apparel. Topgolf benefited from increased social and corporate bookings and high walk-in guest turnout during the fiscal year.
- Equipment brought in $161 million in revenue in Q4, with full-year revenue at $1.2 billion.
- Topgolf reported $336 million in revenue during the quarter and $1 billion in FY2021.
- Apparel generated $215 million in revenue in Q4, with full-year revenue at $817 million.
Last March, Callaway merged with Topgolf. Callaway already owned a 14% stake in Topgolf after an investment in 2006 and paid $2.66 billion in stock to acquire the rest of the company.
Callaway expects an even better result in FY2022, with revenue projected to range between $3.7 billion and $3.8 billion.
In November 2021, Callaway completed a $30 million investment in Five Iron Golf, an indoor golf and entertainment company. Launched in 2017, Five Iron has nine domestic venues and one in Singapore. The company is using Callaway’s investment for further expansion.