PSQ (PSQH) 37th Annual ROTH Conference summary

Strategic transformation and business evolution

• Transitioned from a marketplace to an integrated economic ecosystem with marketplace, FinTech, and consumer brands divisions.

• Acquired Credova in March 2024, establishing a foundation in buy now, pay later for the firearms industry.

• Launched payment processing in November 2024 and ACH processing in early 2025, expanding financial services.

• Established a major partnership with Guns.com, handling all their payment and ACH transactions.

• Focused on serving underrepresented consumer and merchant needs, especially in values-driven segments.

Flywheel and ecosystem synergies

• Over 3 million registered accounts and 80,000 merchants, primarily small businesses.

• Marketplace and FinTech divisions drive cross-division customer and merchant adoption, reducing acquisition costs to zero.

• Synergies allow for bundled offerings, such as combined payment processing and buy now, pay later solutions.

• Internal resources and trust from Credova acquisition accelerated large merchant onboarding.

• Pipeline exceeds $10 billion, with $2.5 billion in annualized GMV under contract, all from internal channels.

Financial performance and monetization

• Payment processing revenue margin ranges from 1.9% to 2.3% of GMV, depending on merchant size.

• Credit business focuses on originations, with margin nearly 100% on credit products.

• Expecting to double revenue in 2025 to over $46 million, while reducing operating expenses, especially in sales and marketing.

• Marketing spend to decrease in 2025 and 2026, leveraging internal demand and ambassador network of over 2,000.

• Announced a new line of credit, reducing cost of capital by over 50%, enabling more aggressive lending to prime customers.