FireFly Has Hired Lindsay Jones as its Chief Financial Officer

During a career spanning over 35 years, Jones has served a variety of high-growth, startup and established firms in executive roles ranging from Founder/CEO to CFO and Consultant with successes ranging from raising over $500 million in public and private markets to growing financial assets to over $500 million. He has both strategic and functional expertise in financial controls, margin creation, and audits, as well as direct / regular interactions with various regulatory bodies. As such, the FireFly Board believes Jones is ideally positioned to enhance senior financial leadership at the firm as it enters a highly anticipated period of growth and capital formation.

Most recently, Jones was CFO of TruGolf Holdings, a more than 30-year-old manufacturer of high-end residential and commercial golf simulator systems. He joins FireFly after the departure of former CFO, Michael Pettingill, who left the firm for family reasons.

During his time with TruGolf, Jones was the executive primarily responsible for navigating the firm through its nearly one-year-long SPAC-merger with Deep Medicine Acquisition Corp., a merger that was completed on January 31, 2024 and initially valued TruGolf (NASDAQ:TRUG) at ~$120 million.

According to FireFly Automatix CEO, Andrew Limpert, the addition of Jones to the FireFly executive team comes at a critical juncture for the company.

“As a leading provider of turf harvesting platforms throughout the United States and abroad, FireFly Automatix is at a very interesting, and intriguing, inflection point,” Limpert said. “After years of rigorous, behind-the-scenes design and development work, we have recently launched initial sales of our self-mowing professional solution – the AMP™ – the ‘Autonomous Mowing Platform’ that we believe will begin to address a massive labor shortage in the golf and sports turf industries. In fact, golf course superintendents, board members, and grounds crew leaders across the country are blown away when they see for themselves the transformative, tech-driven results AMP can produce on fairways and sports turf while using self-driving, EV technology in emission reducing ways.

“What does this have to do with Lindsay Jones taking over the CFO role here at FireFly? Honestly, the answer is, ‘A lot.’ The AMP allows us to tackle global markets that are up to 20 times larger than the turf harvester marketplace alone, which is both exciting and daunting at the same time. Hence, having the right CFO in place to help us navigate the expansion into this AgTech, AEV marketplace (autonomous electric vehicles), while also growing our existing business, is hypercritical for us. That’s why Lindsay is here: because we as a Board believe Lindsay is the perfect financial executive to help lead us forward.”

In addition to his time with TruGolf, Jones has seen significant success during a career that spans over 35 years in financial and executive leadership roles, including:

• Co-founding an industrial loan corporation, a Utah-chartered ILC bank where he led efforts to grow to assets to over $500 million;
• Taking the lead role in fundraising activities for both startup and established companies in both private and public markets, responsibilities that helped his employers and clients raise more than $500 million in equity and debt; as well as
• Recently serving as Executive Vice President and CFO of a privately held, pharmacy benefits data analytics corporation and the in-house leader responsible for establishing a SaaS (Software-as-a-Service) financial model that saw annual recurring revenue catapult by over 1600 percent in a two-year-period to $29.1 million in ARR from a base of $1.7 million in ARR.