PSQ Holdings Reports 95% Revenue Growth to $6.75 Million, Net Loss Improves to $4.45 Million

PSQ Holdings, Inc. (dba PublicSquare) reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company achieved net revenues of $6.75 million, a substantial increase of 95% compared to $3.47 million in the same period last year. This growth was primarily driven by a $2.7 million increase in revenues from its Financial Technology segment, which includes its "Buy Now Pay Later" service, Credova, and a $1.1 million rise in sales from its Brands segment, which features EveryLife, a direct-to-consumer baby products company.

Despite the revenue growth, PSQ Holdings reported a net loss of $4.45 million for the quarter, a significant improvement from the $12.58 million loss recorded in the prior year. The reduction in net loss was attributed to a combination of factors, including increased revenues, a decrease in operating expenses, and gains from changes in the fair value of warrant and earn-out liabilities. Operating expenses remained relatively stable at $18.44 million, slightly up from $18.37 million in the previous year, with notable reductions in sales and marketing expenses, which fell by 48% to $2.46 million.

Operationally, the company has made strategic moves to enhance its market position. The acquisition of Credova, finalized in March 2024, has been a key driver of growth, allowing PSQ to expand its Financial Technology offerings. The company also launched a new advertising model in June 2024, which has begun to contribute to its revenue streams. As of March 31, 2025, PSQ Holdings reported a total of 42.95 million weighted average shares outstanding, reflecting an increase in share issuance related to employee stock plans.

In terms of liquidity, PSQ Holdings had cash and cash equivalents of $28.04 million as of March 31, 2025, down from $36.32 million at the end of 2024. The company reported negative cash flows from operations of $6.43 million, slightly improved from $6.52 million in the previous year. Management indicated that existing cash reserves are expected to support operations and capital needs for the next year, although future capital requirements may necessitate additional financing.

Looking ahead, PSQ Holdings remains focused on leveraging its Financial Technology segment to drive revenue growth while managing costs effectively. The company anticipates that its investments in technology and product offerings will yield positive results in the medium term, despite the current challenges in the broader market, particularly in the firearm retail sector, which has seen a decline in sales. The management's outlook suggests a commitment to enhancing operational efficiencies and exploring new revenue opportunities as it navigates the evolving market landscape.