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
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.
Forward-Looking Statements
This communication contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act of 1934, as amended, and for purposes
of the “safe harbor” provisions under the United States Private
Securities Litigation Reform Act of 1995. Any statements other than
statements of historical fact contained herein are forward-looking
statements. Such forward-looking statements include, but are not
limited to, expectations, hopes, beliefs, intentions, plans,
prospects, financial results or strategies regarding PublicSq.,
anticipated product launches, our products and markets, future
financial condition, expected future performance and market
opportunities of PublicSq. Forward-looking statements generally are
identified by the words “anticipate,” “believe,” “could,” “expect,”
“estimate,” “future,” “intend,” “may,” “might,” “strategy,”
“opportunity,” “plan,” “project,” “possible,” “potential,”
“project,” “predict,” “scales,” “representative of,” “valuation,”
“should,” “will,” “would,” “will be,” “will continue,” “will likely
result,” and similar expressions and in this press release includes
our expectation of our first profitable quarter in 2024 and the
number of products expected to be on our app; however, the absence
of these words does not mean that a statement is not
forward-looking. Forward-looking statements are predictions,
projections and other statements about future events that are based
on current expectations and assumptions and, as a result, are
subject to risks and uncertainties. Many factors could cause actual
future events to differ materially from the forward-looking
statements in this communication, including, without limitation:
(i) the outcome of any legal proceedings that may be instituted
against PublicSq. related to the business combination with
Colombier, (ii) changes in the competitive industries and markets
in which PublicSq. operates, variations in performance across
competitors, changes in laws and regulations affecting PublicSq.’s
business and changes in the combined capital structure, (iii) the
ability to implement business plans, growth, marketplace and other
expectations, and identify and realize additional opportunities,
(iv) risks related to PublicSq.’s limited operating history, the
rollout and/or expansion of its business and the timing of expected
business milestones, (v) risks related to PublicSq.’s potential
inability to achieve or maintain profitability and generate
significant revenue, (vi) the ability to raise capital on
reasonable terms as necessary to develop its products in the
timeframe contemplated by PublicSq.’s business plan, (vii) the
ability to execute PublicSq.’s anticipated business plans and
strategy, (viii) the ability of PublicSq. to enforce its current or
future intellectual property, including patents and trademarks,
along with potential claims of infringement by PublicSq. of the
intellectual property rights of others, (ix) actual or potential
loss of key influencers, media outlets and promoters of PublicSq.’s
business or a loss of reputation of PublicSq. or reduced interest
in the mission and values of PublicSq. and the segment of the
consumer marketplace it intends to serve, and (x) the risk of
economic downturn, increased competition, a changing regulatory
landscape and related impacts that could occur in the highly
competitive consumer marketplace, both online and through “bricks
and mortar” operations. The foregoing list of factors is not
exhaustive. Recipients should carefully consider such factors and
the other risks and uncertainties described and to be described in
PublicSq.’s public filings with the Securities and Exchange
Commission. These filings identify and address other important
risks and uncertainties that could cause actual events and results
to differ materially from those contained in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Recipients are cautioned not to put undue reliance
on forward-looking statements, and PublicSq. does not assume any
obligation to, nor intends to, update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise, except as required by law. PublicSq.
gives no assurance that PublicSq. will achieve its
expectations.
About PublicSq.
PublicSq. is an app and website that connects patriotic
Americans to high-quality businesses that share their values, both
online and in their local communities. The primary mission of the
platform is to help consumers “shop their values” and put purpose
behind their purchases. In just over one year since its nationwide
launch, PublicSq. has seen tremendous growth and proven to the
nation that the parallel, “patriotic” economy can be a major force
in commerce. The platform has over 70,000 businesses from a variety
of different industries and roughly 1.6 million consumer members.
Additionally, PublicSq. leverages data and insights from the
platform to assess its members’ needs and provide quality
wholly-owned products, such as EveryLife diapers and wipes, to fill
those needs. PublicSq. is free to join for both consumers and
business owners alike, and to learn more, download the app on the
App Store or Google Play, or visit PublicSq.com.
About EveryLife Inc.
EveryLife Inc. began with a simple mission: to provide premium
products for every baby, because every baby is a miracle from God
who deserves to be loved, protected, and supported. At EveryLife,
we believe in providing for — and protecting — the next generation.
EveryLife Inc. launched on July 13, 2023 as a baby-care brand
selling diapers and wipes as a wholly owned subsidiary of PSQ
Holdings Inc. To learn more, please visit everylife.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20231013354158/en/
ICR, Inc. investment@publicsq.com
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