PSQ Holdings, Inc. (PSQH) Income Statement
PSQH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPSQH revenue and net income
Where PSQH's revenue goes
2025Each bar shows an amount and its share of revenue. PSQH kept −136.8% of revenue as net income.
PSQH profit margins
PSQH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −21.5% | +237.1% | — | — |
| Gross profit | −10.4% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PSQH quarterly EPS vs estimates
PSQ beat the analyst EPS estimate in 1 of the last 7 quarters. Next report: November 5, 2026.
PSQH income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $18.2M | $23.2M | $5.7M | $475,175 | $8,843 |
| Cost of revenue | $5.6M | $9.1M | $3.8M | $716,102 | $124,976 |
| Gross profit | $12.6M | $14.1M | $1.9M | −$240,927 | −$116,134 |
| Research & development | $3.8M | $4.4M | $4.6M | $1.4M | $846,745 |
| Sales, general & admin | $34.8M | $62.1M | $27.3M | $4.6M | $1.2M |
| Total operating expenses | $44.6M | $69.8M | $41.2M | $6.9M | $2.2M |
| Operating income | −$32.0M | −$55.7M | −$39.3M | −$7.1M | −$2.3M |
| Interest income | — | — | — | $591 | — |
| Interest expense | $3.5M | $2.3M | $177,444 | — | — |
| Income before taxes | −$24.9M | −$57.7M | −$53.3M | −$7.0M | −$2.3M |
| Income taxes | — | $1,181 | $1,945 | $800 | −$237,000 |
| Net income | −$24.9M | −$57.7M | −$53.3M | −$7.0M | −$2.3M |
| EBITDA | −$14.8M | −$52.1M | −$50.7M | −$6.1M | −$2.2M |
| EPS (diluted) | −$4.29 | −$1.87 | −$18.13 | $0.27 | $0.17 |
| Gross margin | 69.3% | 60.7% | 33.2% | −50.7% | −1,313.3% |
| Operating margin | −175.6% | −240.1% | −692.0% | −1,493.5% | −25,856.1% |
| Net margin | −136.8% | −248.7% | −937.9% | −1,468.6% | −25,856.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.1M | $8.2M | $7.3M | $4.4M | $7.1M | $6.7M | $7.2M | $3.2M | $6.0M | $3.5M | $2.7M | $2.0M |
| Cost of revenue | $4.7M | $3.6M | $2.5M | $1.5M | $3.4M | $2.8M | $2.8M | $104,886 | $2.0M | $2.0M | $1.7M | $1.5M |
| Gross profit | $2.4M | $4.6M | $4.9M | $3.0M | $3.7M | $3.9M | $4.4M | $3.1M | $4.0M | $1.5M | $1.0M | $557,726 |
| Research & development | $759,442 | $624,095 | $618,972 | $1.2M | $1.3M | $1.4M | $1.3M | $408,313 | $1.0M | $1.1M | $1.3M | $1.5M |
| Sales, general & admin | $6.4M | $8.2M | $10.1M | $9.7M | $8.8M | $13.0M | $14.2M | $12.2M | $16.1M | $14.9M | $13.1M | $8.0M |
| Total operating expenses | $7.2M | $10.7M | $12.6M | $12.6M | $11.8M | $15.6M | $16.5M | $13.4M | $18.0M | $16.4M | $14.7M | $13.5M |
| Operating income | −$4.8M | −$6.1M | −$7.7M | −$9.7M | −$8.1M | −$11.7M | −$12.1M | −$10.3M | −$14.0M | −$14.9M | −$13.6M | −$13.0M |
| Interest expense | $974,193 | $947,469 | $902,929 | $869,643 | $868,456 | $868,457 | $868,456 | $756,760 | $553,303 | $124,178 | — | $46,690 |
| Income before taxes | −$5.2M | −$6.5M | −$7.3M | −$10.1M | −$8.4M | −$4.4M | −$20.7M | −$8.7M | −$11.2M | −$12.6M | −$5.7M | −$20.2M |
| Income taxes | — | −$26,710 | $4.5M | −$8,176 | −$63 | $8,240 | $2,362 | −$12,437 | $14,037 | −$419 | $418 | −$262 |
| Net income | −$5.6M | −$6.5M | −$11.8M | −$12.0M | −$8.4M | −$4.4M | −$20.7M | −$13.1M | −$11.2M | −$12.6M | −$5.7M | −$20.2M |
| EBITDA | −$3.1M | −$5.6M | −$4.5M | −$7.4M | −$5.8M | −$2.4M | −$18.8M | −$6.9M | −$9.7M | −$12.2M | $15.6M | −$19.4M |
| EPS (diluted) | −$1.44 | −$0.12 | −$3.75 | −$0.26 | −$0.18 | −$0.10 | −$0.66 | −$0.41 | −$0.36 | −$0.44 | −$0.12 | −$11.56 |
| Gross margin | 33.9% | 55.9% | 66.3% | 67.1% | 52.4% | 58.4% | 61.4% | 96.7% | 67.1% | 42.6% | 37.9% | 27.5% |
| Operating margin | −67.2% | −75.2% | −105.7% | −220.1% | −113.7% | −173.2% | −167.6% | −319.9% | −234.4% | −430.1% | −496.5% | −639.1% |
| Net margin | −78.8% | −79.1% | −161.2% | −272.0% | −118.1% | −65.9% | −287.7% | −409.6% | −187.7% | −362.9% | −206.8% | −996.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PSQH's financial statements (latest annual report filed March 17, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PSQH financial results
In fiscal year 2025 (ended December 31, 2025), PSQ reported revenue of $18.2 million, down 21.5% from the year before. It had a net loss of $24.9 million, a net profit margin of −136.8%. Diluted earnings per share came to −$4.29.
See the PSQH stock overview for the latest quote and news, or the PSQH chart for price history and technical indicators.
PSQH income statement FAQ
What is PSQ's annual revenue?
PSQ reported total revenue of $18.2 million for fiscal year 2025, which ended on December 31, 2025. That was down 21.5% from $23.2 million the previous year.
Is PSQ profitable?
No. PSQ reported a net loss of $24.9 million in fiscal 2025, a net profit margin of −136.8%; its operating margin was −175.6%.
What is PSQ's gross margin?
PSQ's gross margin was 69.3% in fiscal 2025: for every $100 of revenue, PSQ kept $69 after the direct cost of its products and services.
How much does PSQ spend on research and development?
PSQ spent $3.8 million on research and development in fiscal 2025, 21.1% of revenue.
What are PSQ's earnings per share?
PSQ earned $-4.29 per diluted share in fiscal 2025, compared with $-1.87 a year earlier.
When will PSQ report its next earnings?
PSQ is expected to report results for the quarter ending September 30, 2026 on November 5, 2026.
When does PSQ's fiscal year end?
PSQ's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 17, 2026.