‘Patriotic marketplace’ reports results, guides for top line to double in 2025

Small-cap conservative marketplace PSQ Holdings (also known as PublicSquare) has reported a fourfold increase in revenue for 2024 and guided for the top line to more than double this year. Following the announcement, the stock has jumped nearly 9%. The few analysts who cover PSQ Holdings rate it as a “buy,” seeing upside of 175%.

PublicSquare released its 2024 financial results after the market closed yesterday, March 13. The company reported a 308% increase in its top line to $23.2 million, which PublicSquare guides to more than double in 2025.

Additionally, the company forecasts lower operating expenses this year. In October, PublicSquare announced a strategic restructuring, which included laying off about a third of its workforce. That is expected to result in savings of approximately $11 million annually and help the company to achieve positive cash flow in 2025. For 2024, PublicSquare’s operating expenses surged 75% to nearly $79 million, while its net loss increased 8% to $57.69 million.

Following the earnings, PSQ Holdings stock jumped nearly 9% in premarket trading today, March 14, reaching $2.57 per share. This came after a 6% drop yesterday.

Since the beginning of the year, PSQ Holdings is off 48%. However, Wall Street analysts remain optimistic about the stock’s potential, according to MarketWatch, with two “buy” and no “sell” recommendations. The average target price is $6.50 per share, implying upside of more than 175% versus the last closing price.

PublicSquare was founded in 2021 by Michael Seifert, who speaks about “red America,” with a simple idea: to offer patriotic buyers goods and services from sellers who share their values. The company’s five core values are family, freedom, a strong nation, support for small businesses, and a commitment to the Constitution. Seifert contrasts these values with “woke” ideas, like abortion rights and ESG and DEI policies.

Initially, PublicSquare functioned as an online directory but quickly evolved into a nationwide marketplace with the ambition of becoming the “new Amazon.” The company has since expanded into new areas. Today, PSQ Holdings operates three key divisions: the PublicSquare marketplace, a payments system, and a premium diaper and baby wipe brand called EveryLife.

In 2023, the holding company went public on the New York Stock Exchange via a merger with a SPAC. Even before its public debut, PublicSquare attracted high-profile investors, including Donald Trump Jr., the son of the current U.S. president. 

PublicSquare also collaborates with other prominent conservatives, such as Erin Elmore, a former spokesperson for the Trump campaign, and Robert F. Kennedy Jr., a nephew of John F. Kennedy and the current secretary of health and human services.