PublicSquare reported strong Q3 2024 results with net revenue increasing 222% YoY to $6.5 million and gross margin improving to 64% from 27% in Q3 2023. The company ended the quarter with $5.7 million in cash and cash equivalents, including $1.0 million in restricted cash. During and after Q3, the company secured $15.35 million in funding through a $10 million convertible note and a $5.35 million PIPE transaction.The company announced significant progress in its payments platform launch, signing contracts potentially worth over $1.0 billion in annualized payment processing volume. PublicSquare has successfully activated its first merchant expected to process more than $100 million annually. The consumer financing segment generated $3.2 million in Q3 net revenue, processing $53 million in transactions year-to-date.As part of its strategic reorganization, PublicSquare implemented cost-saving measures including a 35% workforce reduction, expected to save approximately $11 million annually. The company is shifting focus to its Fintech and B2B operations while transitioning its marketplace to an affiliate fee-based model. Management projects achieving positive cash flow across all segments during 2025, with company-wide cash flow positivity targeted for the latter half of 2025.

PublicSquare reported strong Q3 2024 results with net revenue increasing 222% YoY to $6.5 million and gross margin improving to 64% from 27% in Q3 2023. The company ended the quarter with $5.7 million in cash and cash equivalents, including $1.0 million in restricted cash. During and after Q3, the company secured $15.35 million in funding through a $10 million convertible note and a $5.35 million PIPE transaction.The company announced significant progress in its payments platform launch, signing contracts potentially worth over $1.0 billion in annualized payment processing volume. PublicSquare has successfully activated its first merchant expected to process more than $100 million annually. The consumer financing segment generated $3.2 million in Q3 net revenue, processing $53 million in transactions year-to-date.As part of its strategic reorganization, PublicSquare implemented cost-saving measures including a 35% workforce reduction, expected to save approximately $11 million annually. The company is shifting focus to its Fintech and B2B operations while transitioning its marketplace to an affiliate fee-based model. Management projects achieving positive cash flow across all segments during 2025, with company-wide cash flow positivity targeted for the latter half of 2025.