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Sep 30, 2024
PSQ Q3 2024 Earnings Report
Increased net revenue by 222% year-over-year and achieved a gross margin of 64%.
Key Takeaways
PublicSquare reported a 222% increase in net revenue year-over-year and a gross margin of 64% for the third quarter of 2024. The company is prioritizing its Fintech opportunity, having signed contracts for over $1.0 billion in potential annualized gross merchandise value for payments.
Net revenue increased by 222% year-over-year.
Gross margin reached 64%.
Signed contracts for over $1.0 billion in potential annualized gross merchandise value for payments.
Prioritizing Fintech segment for future growth.
Forward Guidance
PublicSquare anticipates all segments, including the PublicSquare marketplace, will achieve positive cash flows on a standalone basis during 2025 while maintaining strong growth and expects to become cash flow positive as an organization by the latter half of 2025.
Positive Outlook
- All segments, including the PublicSquare marketplace, will achieve positive cash flows on a standalone basis during 2025 while maintaining strong growth.
- Company expects to become cash flow positive as an organization by the latter half of 2025.
- Strategic reorganization expected to save approximately $11.0 million on an annualized basis.
- Reorganization is expected to meaningfully lower the Company’s cash needs.
- Cost savings associated with the organizational changes to be realized beginning in November 2024 and for the full year 2025.
Challenges Ahead
- Strategic reorganization resulted in the elimination of ~35% of the company’s workforce.
- Payment processing and credit agreements are terminable at will without notice.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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