PSQ (PSQH) Q2 2026 earnings summary

Executive summary

• Revenue more than doubled year-over-year in Q2 2026, rising 108% to $7.1M, and 136% to $15.3M for the first half, while costs and headcount were sharply reduced and the company shifted to a single Financial Technology segment.

• Non-GAAP operating income improved from a $2.7M loss to a $400K profit year-over-year in Q2 2026.

• Net loss for Q2 2026 decreased 33% year-over-year to $5.6M; operating loss improved to $4.8M, down 8% year-over-year.

• Divested EveryLife for $5.5M in cash, sharpening focus on core business; sale expected to close by September 30, 2026.

• Reverse stock split (1-for-15) effective July 13, 2026; Board and executive changes implemented in Q2 2026.

Financial highlights

• Q2 2026 revenue up 108% year-over-year to $7.1M; first half revenue up 136% to $15.3M.

• Operating expenses down 12% (normalized for one-time stock comp reduction); operating cash burn reduced by 52% to $2.3M in Q2 2026.

• Net loss for Q2 2026 was $5.6M, a 33% improvement year-over-year; operating loss for Q2 2026 was $4.8M, a reduction of 8% year-over-year.

• Revenue per employee increased over 300% to $198,000 in Q2 2026.

• Non-GAAP operating income turned positive at $400K from a $2.7M loss.

Outlook and guidance

• Affirmed full-year 2026 revenue guidance of ~$32M and expects positive non-GAAP operating income for 2026 and positive operating cash flow in 2027.

• Management expects improved cash position and efficiency from focusing on FinTech, cost reductions, and divestitures.

• $48.5M remains available under at-the-market equity program; proceeds from EveryLife sale expected to support liquidity.

• Annualized cash savings of $8M targeted from staff and expense reductions; $9.9M achieved by June 2026.

• Anticipates continued strong growth, likely above 50% for the foreseeable future, though below recent triple-digit rates.