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Callaway CALLAWAY GOLF COMPANY ANNOUNCES RECORD FINANCIAL RESULTS FOR SECOND QUARTER AND FIRST HALF 2021 FULL YEAR 2021 OUTLOOK REFLECTS OUTPERFORMANCE IN ALL SEGMENTS ● Q2 2021 consolidated net revenue increased $ 617 million ( + 208 % ) to $ 914 million Golf equipment and soft goods revenue increased 98 % to a record $ 588 million o Topgolf overperformed with $ 325 million in revenue Q2 2021 net income of $ 92 million on a GAAP basis Q2 2021 Adjusted EBITDA increased $ 135 million ( + 464 % ) to $ 164 million Provides full year 2021 and third quarter guidance , including full year revenue of $ 3,025 to $ 3,055 million and Adjusted EBITDA of $ 345 to $ 360 million CARLSBAD , CA / August 9 , 2021 / Callaway Golf Company ( the " Company " or " Callaway " ) ( NYSE : ELY ) announced today its financial results for the second quarter ended June 30 , 2021 . " I am very pleased with our performance in the second quarter of 2021 with record revenue and Adjusted EBITDA in our golf equipment and apparel businesses , as well as Topgolf results that continue to exceed our expectations , " commented Chip Brewer , President and Chief Executive Officer of Callaway . " These results reflect the strong momentum and exceptional operating performance across all of our business segments and underscore the strong consumer demand for our products and services . We are encouraged to see that the interest in the sport of golf remains at all time highs among both experienced golfers and new entrants to the sport . " " As we look ahead to the second half of 2021 and beyond , we are confident that our unique portfolio of businesses is well positioned for long - term growth , " continued Mr. Brewer . " While in the short term we will experience some lingering supply constraints and other challenges caused by the pandemic , we believe that these challenges will be manageable given current demand levels and actions we are taking to mitigate the impact . Our best estimate of these impacts is included in the guidance we are providing today , and we expect to deliver excellent financial results for the full year . All in all , we are excited about the long - term trends in our golf and outdoor apparel businesses , as well as the growth opportunities for Topgolf , all of which will continue to drive shareholder value . " GAAP AND NON - GAAP RESULTS In addition to the Company's results prepared in accordance with GAAP , the Company provided information on a non - GAAP basis . The manner in which this non - GAAP information is derived is discussed further toward the end of this release , and the Company has provided in the tables to this release a reconciliation of the non - GAAP information to the most directly comparable GAAP information . 1