# Topgolf Callaway Brands Corp.

Summary updated: 2026-10-02T12:14:49.22307Z
Canonical: https://finbar.com/research/companies/topgolf-callaway-brands-corp

## Overview

Topgolf Callaway Brands Corp. now reports as Callaway Golf Company, a global golf equipment, apparel and gear business. Its products include Callaway clubs and golf balls, Odyssey putters, TravisMathew apparel and OGIO bags and accessories, sold through retail, wholesale and direct-to-consumer channels. The company’s two reportable segments are Golf Equipment and Apparel, Gear and Other; following the sale of a majority interest in Topgolf and Toptracer, its core operating business is focused on golf products and apparel. [1](https://app.finbar.com/go?id=P146049753)[2](https://app.finbar.com/go?id=P146049754)[3](https://app.finbar.com/go?id=P146049773)[4](https://app.finbar.com/go?id=P39346419)

Callaway’s stated brand aspiration is to design products “to make every golfer a better golfer.” [5](https://prd-sfcc.callawaygolf.com/careers) The company reported $2.06 billion in 2025 net sales from continuing operations and approximately 4,000 worldwide employees as of January 1, 2026. [6](https://app.finbar.com/go?id=T5625244)[7](https://www.sec.gov/Archives/edgar/data/837465/000083746526000010/modg-20251231.htm)
[1](https://app.finbar.com/go?id=P146049753)[2](https://app.finbar.com/go?id=P146049754)[3](https://app.finbar.com/go?id=P146049773)[4](https://app.finbar.com/go?id=P39346419)[6](https://app.finbar.com/go?id=T5625244)[5](https://prd-sfcc.callawaygolf.com/careers)[7](https://www.sec.gov/Archives/edgar/data/837465/000083746526000010/modg-20251231.htm)

## Products & services

Topgolf Callaway Brands’ golf-equipment products include Callaway woods, hybrids, irons, wedges, golf balls and packaged sets, as well as Odyssey putters and pre-owned clubs. Its clubs use materials including steel, titanium alloys and carbon fiber; its golf balls include two-piece and multilayer designs, with features such as HEX Aerodynamics, Hybrid Cover, Triple Track and Truvis. The company also offers custom club fitting through performance centers and participating retail stores. [8](https://app.finbar.com/go?id=P146049964)[9](https://app.finbar.com/go?id=P112243440)[10](https://app.finbar.com/go?id=P61569358)[11](https://app.finbar.com/go?id=P55084674)

Its apparel, gear and accessories include TravisMathew golf and lifestyle apparel and accessories; Callaway soft goods; and OGIO products such as golf bags and storage gear for sport and personal use. Soft-goods trademark and service-mark licensing also contributes to this category. [12](https://app.finbar.com/go?id=P146049965) Product-development capabilities described by the company include computer-aided design, finite-element analysis, golf robots, launch monitors and virtual and performance testing. [13](https://app.finbar.com/go?id=P1337333)

In the first half of 2026, golf clubs generated approximately 53.6% of net sales, golf balls 16.9%, apparel 16.0%, and gear, accessories and other 13.5%. These shares are calculated from reported category sales and total net sales for the six months ended June 30, 2026. [14](https://app.finbar.com/go?id=T16716063)[14](https://app.finbar.com/go?id=T16716063)[14](https://app.finbar.com/go?id=T16716063)[14](https://app.finbar.com/go?id=T16716063)[14](https://app.finbar.com/go?id=T16716063)
[8](https://app.finbar.com/go?id=P146049964)[9](https://app.finbar.com/go?id=P112243440)[10](https://app.finbar.com/go?id=P61569358)[11](https://app.finbar.com/go?id=P55084674)[12](https://app.finbar.com/go?id=P146049965)[13](https://app.finbar.com/go?id=P1337333)[14](https://app.finbar.com/go?id=T16716063)[14](https://app.finbar.com/go?id=T16716063)[14](https://app.finbar.com/go?id=T16716063)[14](https://app.finbar.com/go?id=T16716063)[14](https://app.finbar.com/go?id=T16716063)

## Geographic presence

Topgolf Callaway Brands reported 2025 revenue of $2,060.1 million by sales region: United States, $1,363.3 million (66.2%); Asia, $363.1 million (17.6%); Europe, $203.8 million (9.9%); and Rest of World, $129.9 million (6.3%). These figures reflect the annual report’s regional disclosure and should not be read as a 2026 year-to-date breakdown. [15](https://app.finbar.com/go?id=T3043390)

The company is headquartered in Carlsbad, California, and reports regional offices, distribution centers, venues, and retail stores worldwide, without specifying employee counts by geography. Golf-club assembly and related operations are spread across Carlsbad and Monterrey, Mexico; contract manufacturing takes place in China and Vietnam, while custom assembly facilities are located in Tokyo, Swindon, Melbourne, and Seoul. More than half of golf-club assembly in 2025 occurred outside the United States. [4](https://app.finbar.com/go?id=P39346419)[16](https://app.finbar.com/go?id=P19335242)[17](https://app.finbar.com/go?id=P97060630)[18](https://app.finbar.com/go?id=P85721870)

Topgolf ceased to be a controlled operating business after the company’s sale of a 60% stake became effective January 1, 2026; therefore, historical Topgolf venues are not part of the company’s current controlled operating footprint. [19](https://app.finbar.com/go?id=P100344126)[20](https://app.finbar.com/go?id=P44842103)
[15](https://app.finbar.com/go?id=T3043390)[4](https://app.finbar.com/go?id=P39346419)[16](https://app.finbar.com/go?id=P19335242)[17](https://app.finbar.com/go?id=P97060630)[18](https://app.finbar.com/go?id=P85721870)[19](https://app.finbar.com/go?id=P100344126)[20](https://app.finbar.com/go?id=P44842103)[21](https://www.sec.gov/Archives/edgar/data/837465/000119312526147804/d93317dars.pdf)

## Business segments

In its latest available reporting for the six months ended June 30, 2026, Topgolf Callaway Brands reported two operating and reportable segments: **Golf Equipment** and **Apparel, Gear and Other**. Golf Equipment includes golf clubs, putters, golf balls, packaged sets and pre-owned clubs. [22](https://app.finbar.com/go?id=P146049963)[8](https://app.finbar.com/go?id=P146049964) It generated $916.5 million, or approximately **70.5%** of consolidated net sales for the period. [23](https://app.finbar.com/go?id=T16716026) [23](https://app.finbar.com/go?id=T16716026) [23](https://app.finbar.com/go?id=T16716026)

**Apparel, Gear and Other** includes TravisMathew apparel and accessories, Callaway soft goods, OGIO apparel, bags and storage gear, and related royalties. [12](https://app.finbar.com/go?id=P146049965) It generated $383.2 million, or approximately **29.5%** of consolidated net sales in the first half of 2026. [23](https://app.finbar.com/go?id=T16716026) [23](https://app.finbar.com/go?id=T16716026) [23](https://app.finbar.com/go?id=T16716026)

The company’s segment structure has changed: its 2023 reporting included Topgolf, Golf Equipment, and Active Lifestyle, contributing approximately 41%, 32%, and 27% of annual revenue, respectively. [24](https://app.finbar.com/go?id=T2790425) Topgolf was later classified as discontinued operations and excluded from segment results; the company’s 2025 filing described its sale and retained interest. [19](https://app.finbar.com/go?id=P100344126)[25](https://app.finbar.com/go?id=P75369799)
[22](https://app.finbar.com/go?id=P146049963)[8](https://app.finbar.com/go?id=P146049964)[23](https://app.finbar.com/go?id=T16716026)[23](https://app.finbar.com/go?id=T16716026)[23](https://app.finbar.com/go?id=T16716026)[12](https://app.finbar.com/go?id=P146049965)[24](https://app.finbar.com/go?id=T2790425)[24](https://app.finbar.com/go?id=T2790425)[24](https://app.finbar.com/go?id=T2790425)[19](https://app.finbar.com/go?id=P100344126)[25](https://app.finbar.com/go?id=P75369799)

## Company history

Callaway Golf was founded in 1982 and became a publicly traded company in 1992. In 1997 it acquired substantially all of Odyssey Sports’ assets, adding the Odyssey putter brand to its business. [26](https://app.finbar.com/go?id=P76230562)[27](https://www.topgolfcallawaybrands.com/static-files/70746534-a31e-4ea1-bfae-18d70e2a016b) Topgolf was founded in London in 2000 and opened its first U.S. venue in Alexandria, Virginia, in 2005. [28](https://press.topgolf.com/2013-08-20-TopGolf-Recognized-as-One-of-Americas-Fastest-Growing-Private-Companies)[29](https://press.topgolf.com/2014-04-23-TopGolf-Developing-New-Flagship-DC-Location)

Callaway broadened its business beyond golf equipment with acquisitions of OGIO and TravisMathew in 2017 and Jack Wolfskin in 2019. [26](https://app.finbar.com/go?id=P76230562)[30](https://app.finbar.com/go?id=P104565873) Callaway and Topgolf announced a merger agreement in October 2020, and completed the combination on March 8, 2021. [31](https://www.topgolfcallawaybrands.com/static-files/57e66fbc-f0ef-4bae-97b4-a15fb99505a7)[32](https://www.topgolfcallawaybrands.com/static-files/78427d12-8519-4a25-bade-4471afe3c51c) In 2025, the company completed the sale of Jack Wolfskin and agreed to sell a majority interest in Topgolf/Toptracer; that transaction took effect January 1, 2026, leaving Callaway with a 40% interest and no operating control. [33](https://app.finbar.com/go?id=P14489377)[19](https://app.finbar.com/go?id=P100344126)[20](https://app.finbar.com/go?id=P44842103)
[26](https://app.finbar.com/go?id=P76230562)[27](https://www.topgolfcallawaybrands.com/static-files/70746534-a31e-4ea1-bfae-18d70e2a016b)[28](https://press.topgolf.com/2013-08-20-TopGolf-Recognized-as-One-of-Americas-Fastest-Growing-Private-Companies)[29](https://press.topgolf.com/2014-04-23-TopGolf-Developing-New-Flagship-DC-Location)[30](https://app.finbar.com/go?id=P104565873)[31](https://www.topgolfcallawaybrands.com/static-files/57e66fbc-f0ef-4bae-97b4-a15fb99505a7)[32](https://www.topgolfcallawaybrands.com/static-files/78427d12-8519-4a25-bade-4471afe3c51c)[33](https://app.finbar.com/go?id=P14489377)[19](https://app.finbar.com/go?id=P100344126)[20](https://app.finbar.com/go?id=P44842103)[27](https://www.topgolfcallawaybrands.com/static-files/70746534-a31e-4ea1-bfae-18d70e2a016b)[28](https://press.topgolf.com/2013-08-20-TopGolf-Recognized-as-One-of-Americas-Fastest-Growing-Private-Companies)[29](https://press.topgolf.com/2014-04-23-TopGolf-Developing-New-Flagship-DC-Location)[31](https://www.topgolfcallawaybrands.com/static-files/57e66fbc-f0ef-4bae-97b4-a15fb99505a7)[32](https://www.topgolfcallawaybrands.com/static-files/78427d12-8519-4a25-bade-4471afe3c51c)

## Sources

1. [Topgolf Callaway Brands Corp. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146049753)
2. [Topgolf Callaway Brands Corp. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146049754)
3. [Topgolf Callaway Brands Corp. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146049773)
4. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P39346419)
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6. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T5625244)
7. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/837465/000083746526000010/modg-20251231.htm)
8. [Topgolf Callaway Brands Corp. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146049964)
9. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P112243440)
10. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P61569358)
11. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P55084674)
12. [Topgolf Callaway Brands Corp. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146049965)
13. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P1337333)
14. [Topgolf Callaway Brands Corp. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16716063)
15. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T3043390)
16. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P19335242)
17. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P97060630)
18. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P85721870)
19. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P100344126)
20. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P44842103)
21. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/837465/000119312526147804/d93317dars.pdf)
22. [Topgolf Callaway Brands Corp. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P146049963)
23. [Topgolf Callaway Brands Corp. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T16716026)
24. [Topgolf Callaway Brands Corp. — Full financial report (2023 Y)](https://app.finbar.com/go?id=T2790425)
25. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P75369799)
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27. [www.topgolfcallawaybrands.com](https://www.topgolfcallawaybrands.com/static-files/70746534-a31e-4ea1-bfae-18d70e2a016b)
28. [press.topgolf.com](https://press.topgolf.com/2013-08-20-TopGolf-Recognized-as-One-of-Americas-Fastest-Growing-Private-Companies)
29. [press.topgolf.com](https://press.topgolf.com/2014-04-23-TopGolf-Developing-New-Flagship-DC-Location)
30. [Topgolf Callaway Brands Corp. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P104565873)
31. [www.topgolfcallawaybrands.com](https://www.topgolfcallawaybrands.com/static-files/57e66fbc-f0ef-4bae-97b4-a15fb99505a7)
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33. [Topgolf Callaway Brands Corp. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P14489377)

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