Filing Flows › PSQ Holdings (PSQH) › Q3 2025
PSQ Holdings (PSQH) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
PSQ Holdings (PSQH) reported revenue of $4.4M for the third quarter 2025 (Q3 2025), +37% from a year earlier and -38% from the quarter before. Operating margin was -220.1%, net loss $12.0M (272.0% of revenue).
PSQ Holdings, Q3 2025: revenue $4.4M (+37% year over year), operating margin -220.1%, net loss $12.0M, operating cash flow −$6.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.4M | -38% | +37% |
| Operating profit | −$9.7M | — | — |
| Net earnings | −$12.0M | — | — |
| Operating cash flow | −$6.1M | — | — |
What changed
Revenue was $4.4M in Q3 2025, up 37% year over year and down 38% from the previous quarter.
Operating costs exceeded revenue by $9.7M, an operating margin of -220.1%. Total costs grew 5% against revenue growth of 37%. The quarter ended with a net loss of $12.0M, wider than the previous quarter's $8.4M loss.
Operating cash flow was −$6.1M. Non-cash charges added back $1.8M of depreciation and amortization and $4.4M of share-based compensation. Working capital and other items used $330K.
Questions
What was PSQ Holdings' revenue in the third quarter 2025?
PSQ Holdings (PSQH) reported revenue of $4.4M for the third quarter 2025 (Q3 2025), +37% from a year earlier and -38% from the quarter before.
Was PSQ Holdings profitable in the third quarter 2025?
Operating loss was $9.7M (-220.1% of revenue) and net loss $12.0M.
Source: PSQ Holdings 10-Q on SEC EDGAR.