PSQ Holdings Inc (NYSE American: PSQH) is a financial technology company that operates two primary businesses: Credova, a buy-now-pay-later platform for consumer goods financing, and PSQ Payments, a merchant payment processing platform. Credova generates revenue through five streams: sale of loan and lease contracts, interest on loans held for investment, rent payments on leased merchandise, retailer discounts from merchant-originated financing, and origination fees paid by third-party lenders. PSQ Payments earns revenue by providing merchants with an integrated payment stack combining processing, gateway, debit and credit card handling, and ACH services. The company also operates PSQ Impact, a political fundraising platform launched in October 2025, which has expanded into nonprofit organizations. PSQ Holdings has reported net losses and negative operating cash flows and relies on equity and debt financings to fund operations, including a December 2025 registered direct offering that raised approximately $7.5 million in gross proceeds. Dusty Wunderlich serves as Chief Executive Officer and Chairman of the Board as of the 10-K filed March 17, 2026.

Revenue model

Multi-stream fintech revenue: Credova earns from loan and lease contract sales (recognized at point of control transfer), simple-interest income on loans held for investment, lease rent payments recognized over financing term, retailer discounts on merchant-originated contracts, and third-party lender origination fees. PSQ Payments earns transaction-based revenue via an integrated merchant servicer platform covering card processing, gateway, and ACH. PSQ Impact generates fundraising platform revenue, subject to election-cycle and event-driven seasonality.

Products and services

Credova: buy-now-pay-later financing for consumer goods, including loan origination, lease origination, and loan/lease sale to third parties. PSQ Payments: integrated merchant payment stack covering debit and credit card processing, payment gateway, and ACH in and out. PSQ Impact: political and nonprofit fundraising platform, launched October 2025.

Customers and end markets

Merchants seeking consumer financing solutions (Credova); retail merchants requiring payment processing (PSQ Payments); conservative political campaigns and nonprofit organizations (PSQ Impact). Revenue is subject to fluctuation from changes in transaction volume, customer mix, take rates, credit performance, chargebacks, fraud losses, interest rates, and election-cycle seasonality.

Value-chain role

Intermediary and originator: Credova originates consumer loans and leases at point of sale with merchants, then sells those contracts to third-party capital providers, retaining servicing economics and origination fees. PSQ Payments sits between merchants and card networks, bundling processing and gateway into a single service.

Source: SEC 10-K, filed 2026-03-17

Industry: Services-Advertising Peers: Alphabet Inc Athena Bitcoin Global FuboTV Inc Mediaalpha Inc Teads Holding Co. QuinStreet Inc System1 Inc Grindr Inc TrueCar, Inc. Vimeo, Inc.