Topgolf Callaway Brands Corp. (MODG)

Topgolf Callaway Brands Corp. was the name used from 2022 to early 2026 by the company long known as Callaway Golf. Based in Carlsbad, California, it makes golf clubs and balls under the Callaway and Odyssey brands, sells apparel and gear through TravisMathew, Jack Wolfskin and OGIO, and, during this period, owned Topgolf, the chain of high-tech driving range entertainment venues.

Callaway Golf was founded by Ely Callaway in the early 1980s and became known for its Big Bertha driver. Its shares traded on the NYSE under the symbol ELY for many years. In March 2021 Callaway completed an all-stock merger with Topgolf, in which it had held a minority stake, transforming it into a combined golf equipment and entertainment company.

In September 2022 the company changed its name to Topgolf Callaway Brands and adopted the NYSE ticker MODG, meant to signal a modern golf company. Topgolf's venue openings drove revenue growth, but slowing same-venue sales later weighed on the shares, and management began a review of options for the Topgolf business.

On January 15, 2026 the company amended its charter to become Callaway Golf Company, and on January 16, 2026 its stock began trading under the symbol CALY. The change reflected a refocus on the core golf equipment and apparel business. The company continues to trade on the NYSE as Callaway Golf Company.