PSQ Holdings, Inc. (PSQH) Earnings
PSQ Holdings, Inc. is expected to report next earnings on August 11, 2026 (in NaN days), with a consensus EPS estimate of $-0.07. PSQH has beaten EPS estimates in 6 of its last 8 reported quarters (average surprise +11.3% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.17 | $-0.12 | +29.4% | $8M | +13.4% |
| Nov 6, 2025 | $-0.16 | $-0.22 | -37.5% | $4M | +14.2% |
| Aug 12, 2025 | $-0.27 | $-0.18 | +33.3% | $7M | -38.1% |
| May 8, 2025 | $-0.30 | $-0.24 | +20.0% | $7M | -25.9% |
| Mar 13, 2025 | $-0.34 | $-0.40 | -17.6% | $7M | -3.5% |
| Aug 14, 2024 | $-0.30 | $-0.28 | +6.7% | $6M | -8.2% |
| May 15, 2024 | $-0.39 | $-0.37 | +5.1% | $3M | +2.1% |
| Mar 14, 2024 | $-0.47 | $-0.40 | +14.9% | $3M | +9.9% |
| Nov 14, 2023 | — | $-0.49 | — | $2M | — |
| Dec 7, 2021 | — | $0.22 | — | — | — |
| Aug 12, 2021 | — | $-0.05 | — | — | — |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Dusty mentioned Q1 2026 shows meaningful progress in delivering on commitments like focusing strategy, being accountable in operations, improving cash efficiency, and raising revenue per employee. • AI adoption is a force multiplier, with expansion across engineering, financial operations, and risk monitoring. • Restructuring over past two quarters reduced staff by 41%, wound down marketplace segment, and reduced contractor/consulting expenses, expected to deliver ~$8 million in annualized cash savings. • Payments is fastest growing revenue driver, with Q1 GMB at $186.2 million. • Credit (Cordova) grew 32% despite soft firearms market, driven by execution, improved conversion, higher approval rates, etc. • Giving product (impact) is a specialized component of payment stack, with inbound interest from organizations. • Publicsquare.com redirected to credova.com as part of shifting to FinTech-focused organization. • Actively pursuing sale of brand segment, with operational changes in brand segment leading to cost savings. • Revenue per employee is leading indicator, and focus is on continuing momentum.
Guidance
• Revenue grew 167% year over year in Q1, and management plans to keep executing and improving model each quarter. • Expect to continue growing revenue without corresponding increase in headcounts given infrastructure and tools in place. • Aim to reduce cash burn, maintain operating discipline, and convert progress into clear path to profitability. • Anticipate some normalization in quarter-to-quarter trends for credit business but evaluate performance on year-over-year basis.
Segment performance
Revenue grew 167% year over year during the first quarter. Operating expenses declined 18%. Operating loss improved 34%. Payments delivered its largest gross merchandise volume (GMV) quarter ever, with credit GMV growing 32%. Revenue per employee improved 287%. Net revenue from continuing operations was 8.2 million compared to 3.1 million in the prior year quarter. Total operating expenses declined $2 million, or 18% year-over-year. Operating loss for Q1 2026 was $6.1 million, an improvement of $3.2 million or 34% compared to 9.3 million in the prior year quarter. Payments GMV was $186.2 million (up 417% year-over-year), credit GMV was $15.1 million (up 32% year-over-year). Headcount ended the quarter at 47 full-time employees (31% reduction from a year earlier), and revenue per employee climbed from $44,864 to $173,583.
Analyst Q&A
Q: Dusty, you talked about capitalizing on artificial intelligence and agentic commerce. How do you see PSQ capitalizing on agentic commerce?
A: Tom, agentic commerce's foundation is payments and moving money safely for agents. PSQ's brand promise of serving underserved industries remains, and payments will be forefront in agentic commerce.
Q: Thoughts on stable coins and their growth for payments in the future?
A: Dusty believes stablecoins are payment rails of the future, compressing payment rails and changing cost to merchants. Adoption will start in traditionally misunderstood industries, where PSQ sees opportunity.
Q: Steps being taken to reach stable profitability and deliver returns?
A: Dusty points to focused team executing with discipline, coming from Cordova acquisition with proven track record of capital efficiency and profitability. Focus on building real business for cash flow.
Q: Strategy over next three years to improve shareholder value?
A: Focus on free cash flow by positioning products with demand, growing top line, and being operationally efficient, leveraging AI generation for efficiency.
Q: Does PSU's credit strategy most closely resemble Klorna, Sezzle, or Affirm, or is it differentiated?
A: Resembles Block in owning entire payment stack with merchants. Distinctly, built platform with multiple credit products, lenders, and uses proprietary models and AI in underwriting, differentiating from true consumer credit peers.