PSQ Holdings, Inc. (collectively "PSQH", or the "Company") is a financial technology company. Historically, the Company operated through three segments: Financial Technology, Marketplace, and Brands ("Financial Technology", "Marketplace", and "Brands"). In August 2025, the Company determined the Marketplace and Brands segments met the criteria for discontinued operations. Accordingly, the results of those segments have been reported as discontinued operations in the accompanying Unaudited Condensed Consolidated Financial Statements.

The Company now operates as a single reportable segment, Financial Technology ("FinTech"). The Financial Technology segment consists of three operating segments. See Note 15 — Segments for additional information on the operating segments.

•PSQ Payments, which provides payment processing services, including debit card, credit card, and automated clearing house ("ACH") transactions;

•Credova, which provides consumer financing solutions, including installment loans, “Buy Now, Pay Later” products, and lease-based offerings; and

•PSQ Impact, which provides a payments and fundraising platform serving nonprofit organizations and political campaigns.

Shares of the Company are listed on the New York Stock Exchange and trade under the symbol “NYSE:PSQH”, and public warrants are listed under the symbol "NYSE:PSQH.WS".

On March 13, 2024, the Company entered into an agreement and plan of merger (the “Credova Merger Agreement”) with Cello Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary (“Merger Sub”) of the Company, Credova Holdings, Inc., a Delaware corporation (“Credova”), and Samuel L. Paul, in the capacity as the Seller Representative in accordance with the terms of the Credova Merger Agreement (“Credova Merger”).

On July 9, 2026, the Company's stockholders approved a reverse stock split of the Company's Class A Common Stock at a ratio within a range of 1-for-5 and 1-for-15 and granted the Company's Board of Directors (the "Board") the discretion to determine the timing and ratio of the split within such range.

On July 9, 2026, the Board determined to effect the reverse stock split of the Class A Common Stock at a 1-for-15 ratio (the "Reverse Stock Split"). The Company's Class A Common Stock began trading on a split-adjusted basis when the market opened on July 13, 2026.

The impact of the Reverse Stock Split was applied retroactively for all periods presented in accordance with applicable guidance. Therefore, some period amounts are different from those previously reported.

The following tables illustrate changes in the number of shares of Class A Common Stock, stockholders' equity attributable to the Class A Common Stock, and additional paid-in capital, as previously reported prior to, and adjusted subsequent to, the Reverse Stock Split, for the following prior periods:


	As of March 31, 2026
	As Previously Reported		Impact of Reverse Stock Split		As Adjusted
Class A Common Stock Shares Outstanding	48,726,402		(45,477,976)		3,248,426
Stockholders' equity attributable to Class A Common Stock amount	$	4,873	$	(4,548)	$	325
Additional Paid-in-Capital	$	171,287,594	$	4,548	$	171,292,142


	As of December 31, 2025
	As Previously Reported		Impact of Reverse Stock Split		As Adjusted
Class A Common Stock Shares Outstanding	46,492,639		(43,393,130)		3,099,509
Stockholders' equity attributable to Class A Common Stock amount	$	4,650	$	(4,340)	$	310
Additional Paid-in-Capital	$	169,944,031	$	4,340	$	169,948,371


	As of June 30, 2025
	As Previously Reported		Impact of Reverse Stock Split		As Adjusted
Class A Common Stock Shares Outstanding	42,676,029		(39,830,960)		2,845,069
Stockholders' equity attributable to Class A Common Stock amount	$	4,267	$	(3,983)	$	284
Additional Paid-in-Capital	$	155,160,558	$	3,983	$	155,164,541


	As of March 31, 2025
	As Previously Reported		Impact of Reverse Stock Split		As Adjusted
Class A Common Stock Shares Outstanding	39,959,012		(37,295,078)		2,663,934
Stockholders' equity attributable to Class A Common Stock amount	$	3,996	$	(3,730)	$	266
Additional Paid-in-Capital	$	150,369,162	$	3,730	$	150,372,892


	As of December 31, 2024
	As Previously Reported		Impact of Reverse Stock Split		As Adjusted
Class A Common Stock Shares Outstanding	39,575,499		(36,937,132)		2,638,367
Stockholders' equity attributable to Class A Common Stock amount	$	3,958	$	(3,694)	$	264
Additional Paid-in-Capital	$	146,746,355	$	3,694	$	146,750,049

The following tables illustrates changes in loss per share and weighted average shares outstanding, as previously reported prior to, and adjusted subsequent to, the Reverse Stock Split, for the following prior periods:


	Three Months Ended June 30, 2025
	As Previously Reported		Impact of Reverse Stock Split		As Adjusted
Continuing operations loss per common share, basic and diluted	$	(0.12)	$	(1.71)	$	(1.83)
Discontinued operations loss per common share, basic and diluted	$	(0.06)	$	(0.89)	$	(0.95)
Net loss per common share, basic and diluted	$	(0.18)	$	(2.60)	$	(2.78)
Weighted average shares outstanding, basic and diluted	45,253,319		(42,236,432)		3,016,887


	Six Months Ended June 30, 2025
	As Previously Reported		Impact of Reverse Stock Split		As Adjusted
Continuing operations loss per common share, basic and diluted	$	(0.17)	$	(2.40)	$	(2.57)
Discontinued operations loss per common share, basic and diluted	$	(0.12)	$	(1.67)	$	(1.79)
Net loss per common share, basic and diluted	$	(0.29)	$	(4.07)	$	(4.36)
Weighted average shares outstanding, basic and diluted	44,104,601		(41,164,294)		2,940,307