Revenue for the quarter was up 208% to $914 million and up over 112% to approximately $1.6 billion for the first half of 2021, both new records for our business.
Profitability also reached new highs, with adjusted EBITDA of $164 million for the quarter and $292 million for the first six months of the year.
Datatech's hardgoods sell-through in Q2 was up an impressive 40% versus 2019, and retail inventory levels remain extremely low, with only 2.2 months on hand at the end of June as industry supply chain strained to keep up with the last 12 months of unprecedented demand.
Also, we have become accustomed to adapting to these circumstances over the last 18 months, and thus, we're able to shift some portion of our production to other less-impacted factories.
Still, given how lean inventories are already, the fact that nearly all our factories are running at 100% capacity, and that we'll need to shift production shortly toward next year's launches to protect that supply, these shutdowns will have an estimated $55 million negative impact on second-half revenues, primarily in our golf equipment segment and primarily in Q3.
To contextualize, year over year for the second quarter, we saw more than 30% comp store growth in our own retail stores versus 2019, the last period of unaffected by COVID as well as strong growth in sell-through at wholesale accounts and e-commerce.
Another fun fact is that we are not just seeing brand momentum in the target male audience buying for themselves, as approximately 30% of the direct-to-consumer sales that we track are her buying for him.
Looking forward, and this assumes no major restrictions from COVID upticks, we feel same venue sales for Q3 will be above Q2 results, while we expect Q4 sales to be slightly slower than Q2 due to the corporate events mixed in that quarter and that the full year should end at approximately 90%.
At the end of the year, we will have 67 domestic venues in operation across three owned UPA venues for a total of 70 owned venues in operation.
The Toptracer business had a successful quarter as well, with over 2,000 bays installed in Q2, setting a new record as we continue to see strong demand and excellent customer feedback.
While some challenges remain on the installation front due to COVID, we expect to meet or exceed our target of 8,000 new bays for the year.
On the supply chain side, our guidance assumes an estimated $55 million negative impact to our top-line growth, primarily in Q3, to account for current disruptions.
I'll let Brian discuss the numbers in more detail, but the headline is that we expect our full-year 2021 sales to be over $1.3 billion higher than 2019 and adjusted EBITDA to be between $134 million and $149 million higher than 2019.
As of June 30, 2021, our available liquidity, which is comprised of cash on hand and availability under our credit facilities, was $877 million, compared to $483 million at June 30, 2020.
In evaluating our results for the second quarter and first half, you should keep in mind the following: First, our non-GAAP results exclude non-cash amortization expense of intangible assets acquired in acquisitions, including fair value adjustments to Topgolf's leases and debt; noncash depreciation expense from the fair value step-up of Topgolf assets; transaction and transition costs from the acquisitions; noncash amortization of the debt discount on the notes issued during the second quarter of 2020; the $174 million pre-tax non-cash impairment charge in the second quarter of 2020 related to the Jack Wolfskin goodwill and trade name; a $253 million non-cash gain related to the write-up of our premerger Topgolf investment; a $33 million benefit in the second quarter of 2021 from the reversal of a portion of the noncash valuation allowance related to certain of our deferred tax assets and certain other nonrecurring items.
Looking at Slides 10 and 11.
With that said, consolidated second quarter 2020 revenues were $914 million, compared to $297 million for the same period in 2020, an increase of $617 million or 208%.
This increase was led by a 98% increase in the golf equipment and soft goods businesses as well as an incremental $325 million from the Topgolf business.
Changes in foreign currency rates had an $18 million favorable impact on second-quarter 2021 revenues.
Consolidated second-quarter 2020 revenues also increased $467 million or 105% compared to the same period in 2019, including a 37% increase in golf equipment and 21% increase in our soft goods business.
As a result, consolidated revenue for the first half of 2021 increased $826 million or 112% compared to 2020 and increased $602 million or 63% compared to the same period in 2019.
Total cost and expenses were $806 million in the second quarter of 2021, compared to $474 million in the second quarter of 2020.
On a non-GAAP basis, which excludes, among other things, the $174 million non-cash impairment charge in the second quarter of 2020, our total costs and expenses increased $503 million to $796 million for the second quarter of 2021, compared to $293 million in the second quarter of 2020.
Topgolf added $301 million of total costs and expenses.
We are also reporting for the second quarter of 2021 operating income of $107 million, an increase of $285 million, compared to a loss of $177 million for the same period in 2020.
On a non-GAAP basis, which excludes the impairment charge in 2020, operating income for the second quarter of 2021 was $118 million, a $114 million increase, compared to $4 million for the same period in 2020.
The increase in second-quarter non-GAAP operating income was led by a $96 million increase in segment operating income from our golf equipment and soft goods businesses as well as an incremental $24 million from the Topgolf business.
Non-GAAP operating income for the first half of 2021 increased $167 million to $215 million, compared to $47 million for the first half of 2020.
Other expense was $31 million in the second quarter of 2021, compared to other income of $2 million in the same period of the prior year.
On a non-GAAP basis, other expense was $27 million in the second quarter of 2021, compared to other income of $3 million for the comparable period in 2020.
The $30 million decrease was primarily related to $14 million of higher interest expense related to the Topgolf business in the second quarter of 2021 and an $11 million gain from the settlement of a cross-currency swap arrangement in the second quarter of 2020.
Non-GAAP other expense for the first half of 2021, which excludes, among other things, the $253 million non-cash gain related to the write-up of the company's premerger investment in Topgolf, was $33 million of expense, compared to $1 million of income in the first half of 2020.
Earnings per share was $0.47 on approximately 194 million shares in the second quarter of 2021, compared to a loss per share of $1.78 on approximately 94 million shares in the second quarter of 2020.
Non-GAAP earnings per share was $0.36 in the second quarter of 2021, compared to earnings per share of $0.06 for the second quarter of 2020.
Non-GAAP fully diluted shares were 194 million in the second quarter of 2021, compared to 95 million shares for the same period in 2020.
Full-year estimated diluted shares is approximately 178 million shares, which includes the weighted average shares issued in connection with the merger over approximately a 10-month period.
As of June 2021, we had approximately 186 million shares that were issued and outstanding.
Adjusted EBITDA was $164 million in the second quarter of 2021 compared to $29 million in the second quarter of 2020 and $66 million in the second quarter of 2019.
Topgolf contributed adjusted EBITDA of $57 million.
For the first half of 2021, adjusted EBITDA was $292 million compared to $89 million in the first half of 2020 and $159 million in the first half of 2019.
Topgolf contributed adjusted EBITDA of $17 million for the four months.
As of June 30, 2021, available liquidity, which represents availability under our credit facilities, plus cash on hand, was $877 million compared to $483 million at the end of the second quarter of 2020.
At June 30, 2021, we had total net debt of $1.1 billion, including $652 million of Topgolf-related net debt.
The Topgolf debt includes demand -- I mean, deemed landlord financing of $263 million related to financing of its venue businesses.
Our consolidated net accounts receivable was $325 million, an increase of 52% compared to $214 million at the end of the second quarter of 2020.
The legacy business sales outstanding decreased to 58 days on June 30, 2020, compared to 79 days as of June 30, 2020.
The increase in net accounts receivable is primarily attributable to the increase in second-quarter revenue but also includes an incremental $9 million of Topgolf accounts receivable.
Also displayed on Slide 12, our inventory balance decreased by 12% to $335 million at the end of the second quarter of 2021 compared to $379 million at the end of the second quarter of the prior year.
This $44 million decrease was due to the high demand we were experiencing in the golf equipment business and better-than-expected performance in our soft goods business.
Topgolf added approximately $14 million of inventory this quarter.
Capital expenditures for the first six months of 2021 were $96 million, net of expected REIT reimbursements.
This includes $66 million related to Topgolf.
From the full-year 2021 forecast perspective, the golf equipment and soft goods business forecast is $65 million, consistent with our previous forecast.
The 2021 full-year forecast for Callaway and Topgolf is approximately $243 million, net of reimbursements, primarily related to the new venue openings.
The foregoing does not include approximately $33 million in capital expenditures for Topgolf in January and February premerger.
Depreciation and amortization expense was $43 million in the second quarter of 2021.
Non-GAAP depreciation and amortization expense was $36 million in the second quarter of 2021, compared to $8 million in 2020.
This includes $27 million of non-GAAP depreciation and amortization related to Topgolf.
For the full year in 2021, we expect non-GAAP depreciation and amortization expense to be approximately $133 million, which includes $95 million for the Topgolf business.
The foregoing does not include approximately $18 million of Topgolf non-GAAP depreciation and amortization for January and February in the aggregate.
Please note this guidance only includes the post-merger Topgolf results for 10 months of 2021.
For the full year, we expect revenue to range from $3.025 billion and $3.055 billion.
That compares to $1.590 billion in 2020 and $1.701 billion in 2019.
The company's full-year 2021 net sales estimate assumes continued positive demand fundamentals for our golf equipment and soft goods segment; no further business, supply chain, and retail shutdowns due to COVID; and the Topgolf's 10 months of segment sales approach 2019 full year levels of $1.06 billion.
The outlook also assumes $55 million of supply chain risk due to the current Southeast Asia COVID shutdowns, almost all of which is expected to occur in the third-quarter 2021.
From a cost perspective, full-year 2021 non-GAAP operating expenses for our golf equipment and soft goods businesses are estimated to be approximately $100 million higher than full-year 2019 non-GAAP operating expenses.
This is $20 million to $30 million higher than we previously guided at the beginning of the year, and the increase is related primarily to variable costs associated with the strong performance of the business this year, accelerated investments in the TravisMathew brand to support its faster-than-expected growth and additional corporate infrastructure costs to support a larger organization.
Investors should also note that approximately 85% of the incremental $100 million in expense is expected to be incurred in the second half of 2021 due in part to the Callaway apparel business in Korea that we took over from our licensee in July and a more normalized level of spend in the second half of 2021 to support all of our businesses.
Full-year adjusted EBITDA is projected to be between $345 million and $360 million.
The company's full-year 2021 adjusted EBITDA estimate assumes the Topgolf segment will deliver over $100 million in adjusted EBITDA for the 10 months beginning March 8, 2021.
From a third-quarter perspective, we expect revenue to range from $775 million to $790 million versus 2020 revenue of $476 million and 2019 revenue of $426 million.
We expect adjusted EBITDA for the third-quarter 2021 to be between $51 million to $58 million versus 2020 of $87 million and 2019 of $57 million.

Summary:
With that said, consolidated second quarter 2020 revenues were $914 million, compared to $297 million for the same period in 2020, an increase of $617 million or 208%.
Earnings per share was $0.47 on approximately 194 million shares in the second quarter of 2021, compared to a loss per share of $1.78 on approximately 94 million shares in the second quarter of 2020.
Non-GAAP earnings per share was $0.36 in the second quarter of 2021, compared to earnings per share of $0.06 for the second quarter of 2020.
From a third-quarter perspective, we expect revenue to range from $775 million to $790 million versus 2020 revenue of $476 million and 2019 revenue of $426 million.