What In The World Is Going On With Online Marketplace Company PSQ Holdings?

PSQ Holdings Inc PSQH shares are trading higher by around 30% higher after the company reported strong preliminary third-quarter (Q3) results.

The West Palm Beach, Florida-based company reported Q3 revenue growth of over 300% Q/Q and 1,600% Y/Y to $2.2 million. 

PSQ benefited from strong growth in its direct-to-consumer pro-life baby care brand, EveryLife, which witnessed over $3.5 million of annualized subscription revenue in less than three months of operations.

The company ended the third quarter with over $25 million of cash on its balance sheet and expects to achieve its first profitable quarter in 2024.

PSQ expects its eCommerce shopping experience to roll out in November and projects over 400,000 products ready for purchase in app. Also, it plans to launch PSQLink, a business management tool, this month.

The company will report Q3 2023 results on Nov. 14, 2023. 

Price Action: PSQH shares are up 30.4% at $5.93 on the last check Friday.