PSQ (US:PSQH)2025-11-06 12:28Revenue Performance - Net revenue for Q3 2025 was $4.4 million, a 37% increase from $3.2 million in Q3 2024[5] - Fintech revenue increased by 28%, credit revenue by 22%, and payments revenue by 50% quarter over quarter[1] - Revenues for the three months ended September 30, 2025, were $4,404,861, representing a 37.3% increase from $3,207,408 in the same period of 2024[19] - Fourth quarter 2025 revenue is expected to be approximately $6.0 million, with payments at $2.4 million and credit at $3.6 million[12] - Full year 2026 revenue guidance is set at greater than or equal to $32.0 million[12] Operating Expenses and Losses - Operating expenses decreased by $1.7 million, or 13%, compared to the prior year period[5] - Operating loss for the three months ended September 30, 2025, was $(9,696,099), slightly better than the $(10,261,973) loss reported for the same period in 2024[19] - The net loss for the nine months ended September 30, 2025, was $24,796,213, compared to a net loss of $36,949,626 for the same period in 2024, indicating a 32.8% improvement[20] - GAAP operating loss for the nine months ended September 30, 2025, was $(24,213,839), a decrease from $(32,320,280) in the same period of 2024, showing a 25.1% improvement[28] - Non-GAAP operating loss for the nine months ended September 30, 2025, was $(7,801,292), compared to $(539,570) in 2024, indicating a significant increase in losses[28] Cash and Cash Equivalents - As of September 30, 2025, cash and cash equivalents totaled $12.3 million[11] - Cash and cash equivalents at the end of the period were $12,336,372, up from $5,675,766 at the end of September 30, 2024[20] - Cash used in operating activities for the nine months ended September 30, 2025, was $(17,368,971), an improvement from $(27,127,434) in the same period of 2024[20] - Net cash used in operating activities improved to $(4,705,036) from $(5,506,495), reflecting a 14.5% reduction in cash outflow[24] - Net cash used in investing activities decreased significantly to $(347,596) from $(2,103,773), a reduction of 83.5%[24] Research and Development - The company incurred research and development expenses of $1,241,669 for the three months ended September 30, 2025, compared to $408,313 in the same period of 2024, reflecting a 204.5% increase[19] Share-Based Compensation - The company reported share-based compensation of $7,975,726 for the nine months ended September 30, 2025, compared to $16,855,006 for the same period in 2024, indicating a decrease of 52.7%[20] - Share-based compensation expense for the nine months ended September 30, 2025, was $(7,975,726), down from $(15,967,598) in 2024, reflecting a 50.1% decrease[28] Assets and Liabilities - Total current assets held for sale increased to $9,597,933 from $6,421,907, representing a 49.5% increase year-over-year[23] - Total liabilities held for sale rose to $3,643,938, up from $1,772,147, indicating a 105.0% increase compared to the previous year[23] - Total assets held for sale decreased to $9,597,933 from $11,484,149, a decline of 16.4%[23] Future Plans and Developments - The company plans to expand its fintech platform with new services, including private-label credit cards and crypto payment capabilities[4] - The company is engaged in monetizing its Brands and Marketplace segments, with a sales process expected to reach agreement by the end of Q4 2025[9] Deferred Revenue - Deferred revenue increased significantly to $1,839,524 from $53,671, marking a substantial growth of 3,327.5%[23]