Key Takeaways MODG drove high-teens traffic growth at Topgolf, pushing same-venue sales positive after several quarters.Value deals lifted visits without margin damage, as venue-level EBITDA margins held just above 33%.Repeat customers made up most traffic gains, supported by summer passes and the new PlayMore program.Topgolf Callaway Brands Corp. (MODG) delivered a meaningful inflection in its Topgolf business during third-quarter 2025, driven by a sharp acceleration in traffic tied to new value-focused in ...