Boyar Research's Jonathan Boyar on how $MODG is growing an entire industry

Jonathan Boyar, President of Boyar Research, returns to the podcast for the fourth(!!) time to discuss his thesis on Topgolf Callaway Brands (NASDAQ: MODG) and how it is growing an entire industry. Subscribe to the Boyar Research Substack here: https://boyarresearch.substack.com/ You can Follow Boyar Research on Twitter/X here: https://twitter.com/BoyarValue $MODG write-up: https://boyarresearch.substack.com/p/a-company-thats-growing-its-entire Chapters: [0:00] Introduction + Episode sponsor: Alphasense [1:42] Topgolf Callaway Brands $MODG and why its interesting [3:57] Why $MODG is clearly a "Topgolf" story? And, what is Topgolf [12:05] Land grab for opening new "Topgolf" or competitive stores [15:00] What Jon thinks people are so worried about Topgolf [18:06] Topgolf pushback: financing new stores [22:17] Would it be better to separate Topgolf and Callaway? [24:42] Topgolf advertising revenue stream and what is the company referring to when they say they are "maximizing economics" of the business (PEI system) [29:30] KPIs the company tracks [33:50] $MODG valuation [39:04] "Toptracer" part of the business [41:22] Pressure on $MODG stock; what keeps Jon up at night about the idea and various upside scenarios [46:36] Final thoughts Today's episode is sponsored by: Alphasense This episode is brought to you by AlphaSense, the AI platform behind the world's biggest investment decisions. The right financial intelligence platform can make or break your quarter. AlphaSense is the #1 rated financial research solution by G2. With AI search technology and a library of premium content, you can stay ahead of key macroeconomic trends and accelerate your investment research efforts. AI capabilities, like Smart Synonyms and Sentiment Analysis, provide even deeper industry and company analysis. AlphaSense gives you the tools you need to provide better analysis for you and your clients. As a Yet Another Value Podcast listener, visit alpha-sense.com/fs today to beat FOMO and move faster than the market.