DTC Brand EveryLife Reaches Estimated Annualized Subscription Revenue of Over $3.5 Million in First Two Months of Operations
Ended 3Q23 with Over $25 million of Cash on Balance Sheet
Management Reiterates Expectation of First Profitable Quarter in 2024
3Q23 Earnings Date is November 14, 2023
WEST PALM BEACH, Fla.--(BUSINESS WIRE)-- PSQ Holdings, Inc. (NYSE: PSQH) (“PublicSq.,”“the Company”), a leading marketplace of patriotic businesses and consumers, provided comments today from Michael Seifert, Founder, Chairman & Chief Executive Officer, on the strength of the business and the ongoing growth at EveryLife, the Company’s premium baby-care brand. He also confirmed the Company’s next quarterly reporting date.
Seifert commented, “PublicSq.’s operations are going even better than anticipated, and I am excited to highlight the growth we have experienced, the strength of our balance sheet, and the continued commitment to our goals from management and our insiders, none of whom have sold any shares of our stock.”
Additional comments include:
- Our preliminary third quarter revenue grew approximately 300% sequentially from Q2 2023, to an estimated $2.2 million, which represents 1,600% year-over-year growth.
- Growth was led by EveryLife, our direct-to-consumer pro-life baby care brand, which has, in less than 3 months of operations, achieved over $3.5 million of annualized subscription revenue.
- Our eCommerce shopping experience will roll out on November 1st, in time for the holiday shopping season, and we anticipate over 400,000 products ready for purchase in app.
- Our next wholly-owned subsidiary after EveryLife, PSQLink, which offers a business management tool, will launch this month.
Seifert said, in closing, “These preliminary results speak not just to our rapid early adoption, but to our conviction that patriotic consumers and businesses alike seek a mission-aligned commerce ecosystem. We ended the third quarter with over $25 million of cash on our balance sheet and we reiterate our previous statement that we intend to achieve our first profitable quarter in 2024. We are continuing to build this business for the long-term and we are just getting started.”
The Company will report financial results for the third quarter of 2023 on Tuesday, November 14, 2023 after the U.S. stock market closes.
Third Quarter 2023 Conference Call & Webcast
Management will discuss its third quarter 2023 results via webcast at 4:30 PM ET on Tuesday, November 14, 2023. The live webcast and replay can be accessed on the Public Square Investor Relations website Https://Investors.Publicsq.Com.
During prepared remarks, management will respond to inbound, submitted questions received ahead of the call. Questions may be submitted through the Say Technologies platform. A link will be provided two weeks before the call via press release and on the Public Square Investor Relations website.
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