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.
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