Summary by Moomoo AI
PSQ Holdings reported Q2 2024 financial results, with revenue soaring 1030% YoY to $5.99 million. The company's net loss narrowed to $11.24 million from $20.72 million in Q2 2023, primarily due to a $3.09 million gain from changes in warrant liabilities. Operating expenses increased 159% to $20.02 million, reflecting business expansion and increased staffing costs.The Marketplace segment generated $726,638 in revenue, while the newly added Brands segment contributed $2.29 million. The Financial Technology segment, following the Credova acquisition, added $2.97 million to the top line. General and administrative expenses rose 182% to $10.99 million, including $3.2 million in share-based compensation.PSQ Holdings ended the quarter with $7.61 million in cash and cash equivalents. The company secured a $10 million convertible note from a board member and affiliates in March 2024. Management believes current resources and committed support will fund operations for the next year, while exploring additional financing options to support growth initiatives.