PSQ Holdings, Inc. PSQH
On February 23, 2023, PSQ Holdings, Inc. (now PublicSq. Inc., a wholly owned subsidiary of the Company) ("Private PSQ") completed a stock-for-stock transaction to purchase 100% of the outstanding shares of EveryLife, Inc. ("EveryLife"), a Delaware corporation, in exchange for 1,071,229 shares of common stock, par value $0.001 per share, of Private PSQ.
On July 19, 2023 (the "Closing Date"), we consummated the transactions contemplated by that Agreement and Plan of Merger, dated as of February 27, 2023 (the "Merger Agreement"), each by and among PublicSq. Inc., a Delaware corporation ("Private PSQ"), Colombier Acquisition Corp., a Delaware corporation ("Colombier"), Colombier-Liberty Acquisition, Inc., a Delaware corporation and a wholly-owned subsidiary of Colombier ("Merger Sub"), and Colombier Sponsor, LLC (the "Colombier Sponsor"), a Delaware limited liability company, in its capacity as purchaser representative, for the purposes set forth in the Merger Agreement, which, among other things, provided for the merger of Private PSQ into Merger Sub with Private PSQ surviving the merger as a wholly owned subsidiary of Colombier (the "Business Combination"). At the closing of the Business Combination (the "Closing"), Colombier changed its name to "PSQ Holdings, Inc." Colombier was incorporated in the State of Delaware in February 2021.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | $18.2M | $10.1M | $5.7M | $475.2K | — | — |
| R&D | $3.8M | $1.9M | $4.6M | $1.4M | — | — |
| SG&A | $28.9M | $38.8M | $15.2M | $2.0M | — | — |
| Total operating expenses | $50.2M | $51.8M | $45.0M | $7.6M | — | — |
| Operating income | -$32.0M | -$41.7M | -$39.3M | -$7.1M | — | — |
| Interest expense | — | — | $177.4K | $591 | — | — |
| Pre-tax income | -$24.9M | -$43.6M | -$53.3M | -$7.0M | — | — |
| Income tax | $0 | $1.6K | $1.9K | $800 | — | — |
| Net income | -$36.6M | -$57.7M | -$53.3M | -$7.0M | — | — |
| EPS, basic | -0.81 | -1.80 | -2.43 | -0.61 | — | — |
| EPS, diluted | -0.81 | -1.80 | -2.43 | -0.61 | — | — |
| Shares, diluted (wtd. avg.) | 45.5M | 32.0M | 22.0M | 11.5M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $14.6M | $35.7M | $16.4M | $2.3M | $399.4K | $0 |
| Receivables | $1.6M | $262.1K | $204.9K | — | — | — |
| Inventory | — | $2.7M | $1.4M | — | — | — |
| Total current assets | $31.8M | $46.8M | $21.2M | $2.6M | $1.3M | — |
| Property, plant and equipment | $187.3K | $275.5K | $127.1K | $26.7K | — | — |
| Goodwill | $10.9M | $10.9M | $0 | — | — | — |
| Other intangibles | $14.6M | $14.6M | $3.6M | $1.3M | — | — |
| Total assets | $59.7M | $74.9M | $25.2M | $4.2M | $173.9M | — |
| Accounts payable | $5.4M | $2.9M | $1.8M | $424.1K | — | — |
| Total current liabilities | $15.7M | $8.6M | $4.0M | $684.5K | $478.6K | — |
| Total liabilities | $46.2M | $48.0M | $14.8M | $814.2K | $12.6M | — |
| Retained earnings | -$156.5M | -$119.9M | -$62.2M | -$8.9M | -$11.2M | — |
| Total equity | $13.4M | $26.9M | $10.4M | $3.4M | $860.5K | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$19.9M | -$34.1M | -$25.8M | -$6.0M | — | — |
| Depreciation and amortisation | $6.6M | $3.3M | $12.6K | $842.2K | — | — |
| Stock-based compensation | $10.8M | $20.7M | $6.7M | — | — | — |
| Capital expenditure | — | $0 | $113.1K | $29.9K | — | — |
| Investing cash flow | -$10.5M | -$3.0M | -$3.3M | -$1.6M | — | — |
| Financing cash flow | $10.0M | $57.3M | $43.2M | $9.5M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-053023.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | $475.2K | $5.7M | $10.1M | $18.2M |
| Gross profit | — | — | — | — | — | — |
| Net income | — | — | -$7.0M | -$53.3M | -$57.7M | -$36.6M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Material agreement signed Item 1.01
- Regulation FD disclosure Item 7.01
- Shareholder rights changed The terms attaching to the shares themselves have changed. Item 3.03
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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