PSQ Holdings Inc-A 2026年季度报告

FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2026 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-40457 PSQ Holdings, Inc.(Exact name of registrant as specified in its charter) Not applicable(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or such shorter period thatthe registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act: Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo As of May5, 2026, there were 48,726,402 shares of the registrant’s Class A Common Stock, par value $0.0001 per share, issued andoutstanding. TABLE OF CONTENTS PagePART 1—FINANCIAL INFORMATION1Item 1.Interim Condensed Consolidated Financial Statements:1Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20251Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025(Unaudited)2Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March31, 2026 and 2025 (Unaudited)3Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025(Unaudited)4Notes to the Unaudited Condensed Consolidated Financial Statements5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations24Item 3.Quantitative and Qualitative Disclosures About Market Risk34Item 4.Controls and Procedures35PART II—OTHER INFORMATION36Item 1.Legal Proceedings36Item 1A.Risk Factors36Item 5Other Information38Item 6.Exhibits37 SIGNATURES38 PART I—FINANCIAL INFORMATION ITEM 1. Interim Condensed Consolidated Financial Statements PSQ HOLDINGS, INC.Condensed Consolidated Balance Sheets PSQ HOLDINGS, INC.Condensed Consolidated Statements of Operations (Unaudited) The accompanying notes are an integral part of these Unaudited Condensed Consolidated Financial Statements. PSQ HOLDINGS, INC.Condensed Consolidated Statements of Cash Flows (Unaudited) PSQ HOLDINGS, INC.NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Note 1 — Organization and Business Operations PSQ Holdings, Inc. (collectively "PSQH", or the "Company") is a financial technology company. Historically, the Company operatedthrough three segments: Financial Technology, Marketplace, and Brands ("Financial Technology", "Marketplace", and "Brands"). InAugust 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 CondensedConsolidated Financial Statements. The Company now operates as a single reportable segment, Financial Technology ("FinTech"). The Financial Technology segmentconsists 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, andlease-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 warrantsare listed under the symbol "NYSE:PSQH.WS". Credova Merger On March 13, 20