v3.26.1
Segments
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segments Segments
The Company routinely evaluates whether its operating and reportable segments continue to reflect the way the Chief Operating Decision Maker ("CODM"), evaluates the business. The determination is based on: (1) how the Company’s CODM evaluates the performance of the business, including resource allocation decisions, and (2) whether discrete financial information for each operating segment is available. The Company considers the Chief Executive Officer to be its CODM.
As of June 30, 2026, the Company operates under one reportable segment: Financial Technology. The Financial Technology reportable segment is comprised of the following three operating segments:
•Credova Holdings, Inc., which generates revenue primarily through five activities: sale of loan and lease contracts, interest earned on loans, rent payments on leased merchandise, and direct revenues from both retailer discounts and origination fees paid by third-parties earned in connection with providing financing on consumer goods.
•PSQPayments LLC (“PSQ Payments”), is a wholly owned subsidiary of PSQ Holdings, Inc. which generates revenue via its merchant servicer platform to provide its customers with a payments stack to efficiently manage their payment processes. The merchant servicer platform combines the payment processing and gateway into a single, integrated service encompassing all debit and credit card processing and ACH in and out payment processing.
•PSQ Impact LLC ("PSQ Impact"), is a wholly owned subsidiary of PSQ Holdings, Inc. which generates revenue via its fundraising platform to provide political campaigns and nonprofits with access to a secure payment and reporting platform.
The CODM measures and evaluates the Company’s performance based on segment gross revenue, segment non-GAAP gross profit and segment non-GAAP operating income/(loss).
Segment performance, as defined by the Company, is not necessarily comparable to other similarly titled captions of other companies.
The following tables set forth the Company’s revenues, net, segment non-GAAP gross profits and segment non-GAAP operating income/(loss) and operating loss for the three and six months ended June 30, 2026 and 2025:
For the three months ended
June 30,		For the six months ended
June 30,
2026202520262025
Revenues, net:
Financial Technology
Direct revenue$611,889 $441,386 $1,291,935 $1,157,153 
Interest income on loans900,202 607,123 1,719,180 1,195,619 
Loan and lease contracts sold, net2,083,841 495,748 4,177,547 1,558,122 
Lease merchandise, net553,631 857,531 1,457,704 970,335 
Payment processing revenues (1)
2,982,963 1,030,088 6,644,577 1,601,432 
Total revenues, net$7,132,526 $3,431,876 $15,290,943 $6,482,661 
(1)Includes both PSQ Payments and PSQ Impact revenues.
For the three months ended June 30,
20262025
Revenues, net$7,132,526 $3,431,876 
Cost of revenues attributable to segments(1)
(2,998,624)(1,004,402)
Segment non-GAAP Gross Profit4,133,902 2,427,474 
Operating expenses attributable to segments(3,752,502)(5,157,217)
Segment non-GAAP operating income / (loss)381,400 (2,729,743)
Reconciliation of total segment non-GAAP operating income/(loss) to operating loss:
Corporate costs not allocated to segments(2,221,347)(1,174,818)
Share-based compensation expense(1)
(1,233,615)69,861 
Depreciation and amortization(1,716,209)(1,367,561)
Operating loss(4,789,771)(5,202,261)
Other expense, net(453,534)(309,303)
Loss before income taxes$(5,243,305)$(5,511,564)
(1)$42,562 categorized under “Cost of revenue (exclusive of depreciation and amortization expense shown below)” in the Condensed Consolidated Statements of Operations for the three months ended June 30, 2025, has been included in the "Share-based compensation expense" line item.
For the six months ended June 30,
20262025
Revenues, net$15,290,943 $6,482,661 
Cost of revenues attributable to segments(1)
(6,596,903)(1,610,940)
Segment non-GAAP Gross Profit8,694,040 4,871,721 
Operating expenses attributable to segments(9,168,710)(10,415,898)
Segment non-GAAP operating loss(474,670)(5,544,177)
Reconciliation of total segment non-GAAP operating loss to operating loss:
Corporate costs not allocated to segments(4,285,325)(3,146,191)
Share-based compensation expense(1)
(2,599,171)(3,552,984)
Depreciation and Amortization(3,564,253)(2,274,387)
Operating loss(10,923,419)(14,517,739)
Other income, net(801,533)6,963,560 
Loss before income taxes$(11,724,952)$(7,554,179)
(1)$1,676 and $66,035 categorized under “Cost of revenue (exclusive of depreciation and amortization expense shown below)” in the Condensed Consolidated Statements of Operations for the six months ended June 30, 2026 and 2025, respectively, have been included in the "Share-based compensation expense" line item.
No asset information has been disclosed as the CODM does not regularly review asset information by reportable segment.