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PSQ Holdings Inc. Class A (PSQH+11.02%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $23.2 million, a significant increase from $5.7 million in the previous year, driven by the acquisition of Credova and the launch of PSQ Payments.
Operating loss for the year was $55.7 million, compared to $39.3 million in the prior year. The increase in operating loss is attributed to higher general and administrative expenses, which rose to $43.3 million from $15.2 million, primarily due to increased staffing costs and professional services.
Net loss for the year was reported at $57.7 million, up from $53.3 million in 2023. The increase is largely due to the aforementioned rise in operating expenses.
The Company completed several financing activities, including a $36.2 million direct offering of common stock and a $10 million convertible note, to support its operations and strategic initiatives.
PSQ Holdings Inc. also announced a strategic reorganization, which led to a 35% reduction in workforce, aimed at saving approximately $11 million annually.
The Company operates three segments: Marketplace, Brands, and Financial Technology. The Marketplace segment focuses on connecting consumers with businesses that share traditional American values, while the Brands segment includes the EveryLife direct-to-consumer baby care products.
The Financial Technology segment, bolstered by the Credova acquisition, offers point-of-sale financing products and payment processing solutions through PSQ Payments.
The filing highlights the Company's focus on expanding its product offerings and enhancing its technology platform to drive future growth.
PSQ Holdings Inc. emphasizes its commitment to its core values, which include freedom, truth, and support for small businesses, as a differentiator in the market.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PSQ Holdings Inc. Class A annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.