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• Content META

  Title	PublicSquare Reports Fourth Quarter and Full Year 2024 Financial Results
  ID	7713454
  External ID	7625302929
  Author	Thu Mar
  Published Date	March 14, 2025, 3:39 a.m.
  Summary	PSQ Holdings, Inc. (NYSE: PSQH) (“PublicSquare,” or the “Company”), America's leading commerce and payments ecosystem valuing life, family, and liberty, reported today financial results for the fourth
  Tags	None
  URL	http://sogotradedev.websol.barchart.com/?module=topnews&storyid=31396642
  Sentiment	Negative: 0.09017    Neutral: 0.10604    Positive: 0.80379
  Relevance	0.02286

• Content Details

  Content ID	5018700
  Key	b9d139d0-a48d-4b97-8a3b-14d2d0f8a795
  Content	PSQ Holdings, Inc. (NYSE: PSQH) (“PublicSquare,” or the “Company”), America's leading commerce and payments ecosystem valuing life, family, and liberty, reported today financial results for the fourth quarter 2024 and full year 2024. “Our accomplishments in 2024 were significant with our strategic focus on engaging our core merchants and consumers, propelling us to four-fold revenue growth,” stated Michael Seifert, Chairman and Chief Executive Officer of PublicSquare. “We are even more enthusiastic about what 2025 will bring in terms of both top line performance and operating cash flow, as we expect 2025 revenue to more than double compared to 2024 and our operating expense to decrease, showing the power of the investments and organizational changes we made in 2024. I am grateful for the results that our team has attained and expect that they will continue to deliver into 2025 and beyond.” Net revenue for the quarter ended December 31, 2024 was $7.2 million compared to $2.7 million for the fourth quarter 2023, a 167% increase Financial Technology revenue for the quarter ended December 31, 2024 was $3.5 million Marketplace revenue for the quarter ended December 31, 2024 was $0.6 million Brands revenue for the quarter ended December 31, 2024 was $3.1 million Gross Margin for the quarter ended December 31, 2024 was 61% compared to 38% in the prior year period FULL YEAR 2024 HIGHLIGHTS Net revenue for the year ended December 31, 2024 was $23.2 million compared to $5.7 million for full year 2023, a 308% increase Financial Technology revenue for the year ended December 31, 2024 was $10.1 million (represents revenue from March 13, 2024 to December 31, 2024) Financial Technology revenue for the year ended December 31, 2024 pro forma as if the Credova transaction had occurred January 1, 2024 was $13.0 million Marketplace revenue for the year ended December 31, 2024 was $2.9 million Brands revenue (net of returns & discounts) for the year ended December 31, 2024 was $10.2 million Net revenue for the year ended December 31, 2024 pro forma as if the Credova transaction had occurred January 1, 2024 was $26.1 million Gross Margin for the year ended December 31, 2024 was 61% compared to 33% in the prior year BALANCE SHEET & LIQUIDITY As of December 31, 2024, PublicSquare had $36.3 million of cash and cash equivalents and $0.3 million of restricted cash The Company had an outstanding principal balance of $3.8 million on its $10.0 million revolving line of credit as of year end 2025 BUSINESS OUTLOOK & GUIDANCE The Company expects the following in 2025: Total year-over-year revenue growth of greater than 100% or greater than $46 million Operating expense (defined as general and administrative, sales and marketing, and research and development) to be lower than 2024 reflecting foundational investments and the full impact of organizational changes made in late 2024 Upcoming Investor Conference PublicSquare will participate in the 37th Annual ROTH Conference taking place on March 16 - 18, 2025 in Dana Point, CA. Michael Seifert, Chairman and Chief Executive Officer and Brian Billingsley, President of FinTech, will present on Tuesday, March 18, 2025, at 11:00 a.m. PT. The presentation will be webcast live and available for replay. The webcast link will be available on the Investor Relations section of the company's website Management will host a teleconference and webcast to discuss its fourth quarter and full year 2024 results today, March 13, 2025 at 4:30 p.m. ET. The conference call can be heard live through a link on the PublicSquare Investor Relations website . During the webcast, the company will take both inbound questions received ahead of the call and questions from equity research analysts. In addition, you may participate in the conference call by dialing (888) 210-4474 domestically or (646) 960-0693 internationally, referencing conference ID # 9605882. Attendees should log in to the webcast or dial in approximately 15 minutes prior to the call's start time. About PublicSquare PublicSquare is a commerce and payments ecosystem, valuing life, family, and liberty. PublicSquare operates under three segments: Financial Technology, Marketplace and Brands. PublicSquare's Financial Technology segment includes Credova, a consumer financing and payments company. The primary mission of the Marketplace segment is to help consumers “shop their values” and put purpose behind their purchases. PublicSquare leverages data and insights from the Marketplace to assess its customers' needs and provide wholly-owned quality financial products and brands. PublicSquare's Brands segment comprises EveryLife, a premium D2C life-affirming baby products company. The PublicSquare Marketplace is free to join for both consumers and business owners. Download the app on the App Store or Google Play, or visit PublicSquare.com to learn more. Cautionary Statement Regarding Forward-Looking Statements PSQ HOLDINGS, INC. (dba PublicSquare) Consolidated Balance Sheets December 31, Assets Current assets: Cash and cash equivalents — Accounts receivable, net Loans held for investment, net of allowance for credit losses of $689,007 as of December 31, 2024 — Interest Receivable — Inventory Prepaid expenses and other current assets Total current assets Loans held for investment, net of allowance for credit losses of $127,038 as of December 31, 2024, non-current — Property and equipment, net Intangible assets, net Goodwill — Operating lease right-of-use assets Deposits Total assets Liabilities and stockholders' equity Current liabilities: Revolving line of credit — Accounts payable Accrued expenses Deferred revenue Operating lease liabilities, current portion Total current liabilities Convertible promissory notes, related party (Note 14) — Convertible promissory notes — Earn-out liabilities Warrant liabilities Operating lease liabilities Total liabilities Commitments and contingencies (Note 19) Stockholders' equity Preferred stock, $0.0001 par value; 50,000,000 authorized shares; no shares issued and outstanding as of December 31, 2024 and 2023 — — Class A Common stock, $0.0001 par value; 500,000,000 authorized shares; 39,575,499 shares and 24,410,075 shares issued and outstanding as of December 31, 2024 and 2023, respectively Class C Common stock, $0.0001 par value; 40,000,000 authorized shares; 3,213,678 shares issued and outstanding as of December 31, 2024 and 2023 Additional paid in capital Accumulated deficit Total stockholders' equity Total liabilities and stockholders' equity PSQ HOLDINGS, INC. (dba PublicSquare) Consolidated Statements of Operations Unaudited Three months ended December 31, Audited Years ended December 31, Revenues, net Costs and expenses: Cost of revenue (exclusive of depreciation and amortization expense shown below) Cost of goods sold (exclusive of depreciation and amortization expense shown below) Transaction costs incurred in connection with the Business Combination — — General and administrative Sales and marketing Research and development Depreciation and amortization Total costs and expenses Operating loss Other income (expense): Other income, net Change in fair value of convertible promissory notes — — — Change in fair value of earn-out liabilities Change in fair value of warrant liabilities Interest expense, net Loss before income taxes Income tax expense Net loss Net loss per common share, basic and diluted Weighted average shares outstanding, basic and diluted PSQ HOLDINGS, INC. (dba PublicSquare) Consolidated Statements of Cash Flows For the years ended December 31, Cash Flows from Operating Activities Net loss Adjustment to reconcile net loss to cash used in operating activities Change in fair value of convertible promissory notes — Change in fair value of earn-out liabilities Change in fair value of warrant liabilities Share-based compensation Realized gain on short term investment — Amortization of step-up in loans held for investment — Provision for credit losses on loans held for investment — Origination of loans and leases for resale — Proceeds from sale of loans and leases for resale — Gain on sale of loans and leases — Depreciation and amortization Non-cash operating lease expense Interest expense — Changes in operating assets and liabilities: Accounts receivable Interest receivable — Inventory Prepaid expenses and other current assets Deposits Accounts payable Accrued expenses Deferred revenue Operating lease liabilities Net cash used in operating activities Cash flows from Investing Activities Software development costs Principal paydowns on loans held for investment — Disbursements for loans held for investment — Acquisition of businesses, net of cash acquired — Purchases of short-term investments — Proceeds from the sale of short-term investments — Purchase of intangible assets and trademarks — Purchases of property and equipment — Net cash used in investing activities Cash flows from Financing Activities Proceeds from convertible note payable, related party (Note 14) — Proceeds from convertible note payable — Net proceeds from reverse recapitalization — Net disbursements for taxes paid related to vesting of employee restricted stock units — Proceeds from issuances of common stock, net of issuance costs Proceeds from revolving line of credit — Repayments on revolving line of credit — Repayment of subscription payable — Net cash provided by financing activities Net increase in cash, cash equivalents and restricted cash Cash, cash equivalents, and restricted cash, beginning of period Cash, cash equivalents, and restricted cash, end of the period Cash and cash equivalents Restricted cash — Total cash, cash equivalents, and restricted cash, end of the period Supplemental Cash Flow Information Recording of right of use asset and lease liability — Promissory notes, inclusive of accrued interest converted to equity — Initial recognition of earn-out liability — Acquisition of warrant liability — Prepaid expenses assumed in connection with Business Combination — Liabilities assumed in connection with Business Combination — Liabilities paid through the trust — Accrued variable compensation settled with RSU grants — Shares issued in connection with Credova Merger — Note Exchange in connection with Credova Merger — Stock for stock transfer — Non-GAAP Financial Measures The non-GAAP financial measures below have not been calculated in accordance with GAAP and should be considered in addition to results prepared in accordance with GAAP and should not be considered as a substitute for, or superior to, GAAP results. We caution investors that non-GAAP financial information, by its nature, departs from traditional accounting conventions. Therefore, its use can make it difficult to compare our current results with our results from other reporting periods and with the results of other companies. Our management uses these non-GAAP financial measures, in conjunction with GAAP financial measures, as an integral part of managing our business and to, among other things: (i) monitor and evaluate the performance of our business operations and financial performance; (ii) facilitate internal comparisons of the historical operating performance of our business operations; (iii) facilitate external comparisons of the results of our overall business to the historical operating performance of other companies that may have different capital structures and debt levels; (iv) review and assess the operating performance of our management team; (v) analyze and evaluate financial and strategic planning decisions regarding future operating investments; and (vi) plan for and prepare future annual operating budgets and determine appropriate levels of operating investments. For the periods presented, we define non-GAAP operating loss as GAAP operating loss, adjusted to exclude, as applicable, certain expenses as presented in the table below: For the three months ended D ecember 31, For the twelve months ended D ecember 31, Reconciliation: GAAP operating loss Non-GAAP adjustments Corporate costs not allocated to segments Transaction costs incurred in connection with the Business Combination — — Transaction costs incurred in connection with acquisitions — Share-based compensation (exclusive of what is included in transaction costs above) Depreciation and amortization Non-GAAP operating loss View source version on businesswire.com: This article contains syndicated content. We have not reviewed, approved, or endorsed the content, and may receive compensation for placement of the content on this site. For more information please view the Barchart Disclosure Policy
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  Data Source Name	Quantexa News (#5)
  Data Source Type	news
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