PSQH - Earnings call transcript Q3 2024

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Operator

Greetings, and welcome to PublicSquare's Third Quarter 2024 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, William Kent, VP of Investor Relations. Thank you.

You may begin.

William I. Kent

Good afternoon, everyone, and welcome to PublicSquare's Third Quarter 2024 Earnings Conference Call.

Michael Chief and Financial are and Executive today Searle, Brad Officer me Seifert, Chief Chairman Officer; Joining of PublicSquare.

events. started, information this or update a outlook, uncertainties and get earnings information obligation contains forward-looking as to we we We or today's involve emphasize and of Please to press and filings, GAAP. I'll XX-K result Before actual please risks, that SEC a as including that of to discussed refer today on as now addition from based like undertake call, such our and is with our ahead. assumptions. future our statements statements differ including financial we to for, new over Michael. on information most out Michael, want substitute to the factors release cause no our in recent calculated to, XX-Q present may and in point statements. We'd accordance measures also hand to XXXX not that forward-looking go measures call materially for the results that non-GAAP duty

Michael Seifert

Thank everybody, third call. earnings XXXX to you, welcome, quarter our and Will,

a years, provide The more prioritize that will they period platform the Fintech, PublicSquare our Fintech have have as specific, for seeking Financial of learned infrastructure the merchants third past that of on our we meaning and our thousands are over aim with been Technology, promise X the from of reliable our tens opportunities. payment be cancel-proof distinct desperately technology. shifted resources business was quarter delivering a we pivotal services demanding. To to merchants PublicSquare

makes primary of the to desire have own become the our with operate focus. you If findings payments pair transaction it experience, that these entirety sense our and

of for from in you $X today. Starting result X than value. And expected sizes merchandise the activated we billion platform. product gross reliable acquisition entered drive and is ever. and put, affiliate our more who BXB exists This have XXXX, approach. includes to technology. QX moving a on of to the than we or Marketplace focus of to Later merchant enterprise our QX team stack more of ahead and as and the less refined to days now Buy more of to built tell demand of the XXX annually we our in an model customer and about Pay speaks promise that the customer acquisition a meeting its that payment first Fintech strength signed decades truly payments $XXX over contracts PublicSquare on activation, XXXX, of is in GMV more our already we're resonate with with focus enter industry strategy months, Now, transitioning we payments has monetization experience drive Marketplace and excited clearer and have with forward to in we schedule have million than ecosystem. With sales, market directly value our are Fintech milestone incredible to shifting world-class X a we technology actually all of our that cancel-proof here while fee-based platform This potential As process Simply that our proven annualized the merchant businesses and our under

annual top and forward. potential talk translate database GMV investors billion about that XX,XXX agnostic. And going volume the of industries, different market, we shooting the merchants ignored a largely we and to industry a our a line crossed, the GMV of when can this understand over we businesses processing thus myriad of largely comes which our due merchant actually to representation have to from that for While volume of pipeline bulk it's in far or is unaddressed our $X contracted threshold is from industry, crucial largely have PublicSquare revenue sports strong how

of under For 'XX merchants XXXX. with their these beginning of and full $X we of QX at entirety between QX impact the being integrated the for XXXX, these QX the billion contract, to over currently revenue be in merchants expect realized

for between rate take X.X% processing annual blended the to X.X%. be this and volume expect We

$X the practically, ramp annual of we top So, of to $XX annualized our approximately expect That's line last across reason we are take receive million in customers. billion offering not our rates for million merchant is all this on revenue. One range. as item every volume the $XX consistent for to process, we that our

we've is, scale, burn cost strong to cash shapened to rate over reorganization advancements, As annualized growth. business we movement functions our direction ] to see in sharpened strategic late existing positioning reducing maintaining us In enacted flows strategic our improve our optimized from strategic the ecosystem. Alongside growth. workforce is expect reach while October, expected reorganized save cash integrate to as in XX% our therefore, plan vital lower we where to we we vertically approximately and small our medium-sized our business a expected structure meaningfully, for and process. This upward businesses our XXXX take more efficiency, revenue by [ actually these our positive future payments of $XX and million an the basis well on in company and

XXXX. be year We the for these month beginning associated full expect this realized cost to savings with changes and

thrilled are encouraged the foundation during cash road meaning; Looking our half by bolsters ecosystem Brands, both from our basis Fintech map our And burn, X confidence maintaining overall all growth. flow meaning actually growth, of and the and stand-alone by and solid we shoppers this will positive customers, on Marketplace, Marketplace, our the we with become chapter our cash performance segment XXXX latter flows this segments, we refined merchants. that while believe of can organization next reduced achieve strong a XXXX. We're enter towards enthusiasm throughout our XXXX, to an PublicSquare as in including and our cash positive

cancel-proof could with future that we on we that Payments, as our we are major and the billion potentially last payment existing a out first season. We tokenization well have business to have has merchants to the that embolden advanced merchant for billion our So, this our very few businesses our PublicSquare payment down achieving or payments. At customer Christmas key our security wallet start is result fully focused in shopping data. a stack $X PublicSquare ahead by sought view And of technology are is $X XX% at Payments been of annualized approximately pipeline goal break this our the This sales merchants the data. million-plus their activated platform of GMV, $XXX the selling who developed protect on PublicSquare actively serving and which over further Now, contracts positioned stack. point in across values-aligned of Pay segments additionally, month. secure with Buy will customer I from Later as for secured We've from that a highlights growth, pipeline, stems look are company's Marketplace threshold

QX able Marketplace, which the expenses of model, for saw $X.X of the moved applications. In revenue million the average we subscription credit in Later on advertising with put, contract Marketplace in volume in that ecosystem And a with the under we approximately reduce advertising XXXX. we us it's in both we've switch and contracts in to a that have built more growth to XXX,XXX term. foundation made now our customers with business, consumer and the our signed for On million choice Simply merchants billion result away team, generated annualized costs transactions negotiation. that we financing attracted Marketplace near from that value $XX the on automate Now, potentially Buy for Marketplace, more the we GMV breaking were over in the CPM helps Marketplace the from Now, order time side $X,XXX. engine. subsequently invested even of year-to-date, an the monetize process. Also can XXXX have model QX reducing in generate now in and significantly segment, to we mid-year Pay experience to could the net functionality, merchants Later us, and facilitated the have for QX billions around Year-to-date, and in Pay XX% XXXX and Buy to focus currently the $X.X

miracle brand XXX%. every revenue Brands and grew and the XX% premium our year-over-year On grew celebrates our quarter-over-quarter wipes division; diaper EveryLife, life, of that

experienced growth. also subscriber significant We

QX Our 'XX. base to from grew active XX% QX 'XX subscriber

repeat with with wipes EveryLife XX% and our as Our subsequent orders and the the looking wipes inception-to-date our at diapers was $X pregnancy we for first next in verified customer XX% Buy EveryLife centers, X increased totals and and Total generation. the with with quarter-over-quarter million XXX rate event, the a partnerships over QX of a was Cause QX partners. October, million For X.X grew end XX%. and program actually astonishing in of million an other month pro-life devoted care EveryLife number from our that our over through ending the to pro-family QX; meaning fathers nonprofit partnerships, over donated to diapers churches, nonprofit nonprofit customers, sales. And organizations, help finally, QX affiliated to of non-profit mothers need eclipsed

it's firmly positioning quarter. to I pursue from to base. With multiple discuss us Brad, went existing call we of our Brad turn payments, said, a now EveryLife, monetization and through believe and truly merchant So opportunities, to credit, leverage to that highlights allowing the will you. PublicSquare. marketplace meaningful safe to over will for by us Fintech that long-term We coupled strengthen the with season exciting say our over it's financial

Bradley Searle

from bit, to I'm compared in the like generated Breaking increase revenue starting we in XXXX hit Buy mind not increased million that Pay statement down XXXX, discuss will only to a came net good the an with million a Michael, until the here Now, of afternoon, everybody. transactions quarter which to the this which as you, this our $X.X $X.X you honored P&L present from payments with quarter $X.X quarter to XXXX. our EveryLife. of revenue was of note Thank results. third items of is XXX% million be from and by third XXX% launched operations segment, in QX our or revenue, quarter few I'd that QX. EveryLife revenue Fintech to today to from revenue. We Later keeping net

margin credit segment. XX% gross high-margin from to Fintech revenue products the year-over-year part in expanded to in overall on due Our XX% the large

that a footnote corporate segments, are expenses made that of a split change segment. to not segment attributable notice out operating directly specific will in to Speaking you our we

not So filing board quarterly to, and fees report these expenses but officers. and outside and directors our for expenses such company are insurance fees, as and counsel limited annual include, public

$X.X corporate Excluding $X.X noncash these EBITDA item QX. compensation a note operating QX adjusted expense, loss in includes was of stock-based segments million. Please that for the X million expenses, our P&L

As company, the expense to foreseeable P&L remain a very we comp we are stock for expect much our a growth future. significant still on

cash with restricted XXXX on ended cash, quarter Moving cash. cash $X.X to we equivalents which $X of of was and million third the million,

the early a affiliates. During we of and for convertible placement as $X.XX note And a Board quarter, member well. completed we QX, led private his a in million, by $XX PIPE with a Board closed member million a

Summit, is is corporate a an significantly save on million and us Business on to after opportunities the streamline million Overall, expenses to Michael's plan focus annually One During remarks Board did we to related to and quarter, to want which the spending expected as Milton. impact the management outflow I cancellation other outflow PublicSquare $X.X Approximately $XX was to have that the of enacted Fintech efforts contractors assets operating from of in the summit thus booked estimated reduce item the had due $XXX,XXX returned on significant Hurricane the BXB not the of expenses. in we and on the October cash previous to P&L. cash payroll, to and plan was prepaid segment. reiterate

share the Lastly, hand had will for September X,XXX,XXX Class shares call to remarks outstanding. I XX, C outstanding count, in common terms common Class of Michael back as we XXXX, some of closing shares A and XX,XXX,XXX Q&A. and now

Michael Seifert

look on with Brad. Thank emphasis sustainable and wrap as to customer to expanding a offerings up, you, values growth, Fintech alignment. the future, dedicated we to Well, engagement strategic our we are

a market we with a to opportunity solid build year. bolster have receiving set Now, and quality reach. have existing launch, unique Pay excellence past and processing seeing the aim the intend have bolstering to our upon the and payment and will present so an We we with us to reflected first solutions, months And few And thankfully, go in in this increasingly market foundation and to payments responses Buy the to from business consumers. demands do our our ecosystem that are we unaddressed forefront. of opportunity We cancel-proof merchants merchants. XXXX we already are found values-aligned at unique meet the Later of that we our

of to this be our unified across achieve a merchant to largely network cancel-proof integration automated also seamless our suite Fintech and will solutions experience. working of We offer

monetizing by of repeat Importantly, the with the experience cycle merchant site we customer customer on all Marketplace. customer the on life the from our to will also throughout be purchase working optimizing initial interactions the from revenue PublicSquare point the within transactions way merchant

in but We Finally, our acquisition flow believe will partnerships in increasing expand line merchant customers our we into top across steps to to segments key allow business to firmly XXXX. more it. head BXB-centric cash positivity reducing allow not these costs. as will the while engine; achieve to value monetizing only that organically, model, on focus XXXX, all us Simply built combined the grow and have also now, us we XXXX, customer we lifetime work put, leveraging our significantly generate we

moves attaining in far economy into opportunity to life, business electoral for the milestones had owners across forward XXXX forward wind as major millions and fresh consumers a family, week, way. With journey win years. a thousands sails, few we success been as head for in to freedom last tens remarkable along and Our a we're of great short of new in our significant have the And thus country and we've as specifically. we business the for look just who we our our patriotism whole serve and our business has a one continuing anticipating of value our

ado, the and glad commerce we're power on further questions-and-answers. you now journey on focused through of changing the to have us. Without the head are let's country to with We

Operator

comes question first Aftahi Our of Capital. from the Darren ROTH line with

Darren Aftahi

I if few, A may.

of teased First this of one, the I your at guess, end Michael, kind comments. you

the obviously, election Just recently consummated.

new on term any into term, short of Just impact administration? as business we the your kind kind longer move of

Michael Seifert

you. Thank Great to from hear you, Darren.

feel that the of are of deal out communities, American of of thrilled, coming hope last American prosperity and obviously a We actor economic week. as the economy we the vitality seeks and an growth election the great

meritocracy, love wind been We I'll For our a fresh few One in the have practical feel as business excellence, we specifically, we about the into the XXXX. company on is, we as last head energy And have give innovation, country Marketplace for examples. feel few beauty and we've like of focused talking like a of we sails. a a years, that's community.

these we growth to took and be the have results, get past feel we've manifestation already we days. economic like Now our seen the in that the drive we that same values victory of the reflected business even election electoral for in week that place seen X last

one reflected clearly obviously I celebrated the message election last this think results week. that number we very is, have in was So

point. American sidebar And We represent actor. so we this we don't economic feel feel mainstream the a like really viewpoint at like

into firearms affection. that The seems greater much administration to second industry coming thing ammunition I'd like value an know how in office spaces obviously, that and that, we in that mention it's our with the business, is for industry, refreshing to given operate have we XXXX

are businesses business. small specifically. we as we of might Main we we and community want same next so, and catalyst paired the the the of decrease to some pioneer regulatory they the growth the our administration on the real Trump messages a American great ultimately, as economy's we as chapter value about of for American business those positively Street that excited to And look be can community, of think we believe America of our that with emphasis out impact how XXXX, small and the incoming well, head in And American state businesses into small the administrative with that our environment, a

Darren, experience and that over hope here, economic economy to macro growth happy the the looking the we're the hopeful to but course of we're in also business, over our forward coming general. we for broader So years

Darren Aftahi

couple A if Great. more, may. I

then annualized represent I on curious, a figure. One kind that side, billion. versus figures what $X just was billion of merchants relative And does of mentioned to mentioned I'm on Fintech collectively, prospective? So you on existing the payments, few you the pipeline. think $X.X kind

Michael Seifert

Darren. question, Great

the $X were from business, existing the outside threshold actually Credova payment of of PublicSquare businesses the representative is in PublicSquare community, Payments, already meaning on not leads ecosystem. cold entirely expected contracted that GMV these side of existed that the are So, our or billion

that health Later onboarding Marketplace PublicSquare business. of onto So, our the this utilization Now, Credova speaks that of Buy to our that's pipeline Pay the the coming much through the of already or the traction is through trust actually they've early us, folks developed trust that financing products whether consumer the from a

the already are billion, to existing merchants out same. have ecosystem the also actually from pipeline the very those the that, speak So of is represented near-term that of $X would much all ascertained. I we

mentioned within of right figure I here the Credova from fact, now how a over the comments XX% ecosystem. in or earlier about our earnings entire comes call pipeline In merchants existing PublicSquare

out We on have focus for paying not leads. external had to and going

audience, So, big when decreased is competitors we compared the that the of our we Fintech already merchant differentiator us, spoken win started customer acquisition go merchants green the targeting network a speak it, we to feel not a obviously not on out a and that for find for this trust existing as in to. truly having side, ecosystem. We costs we to and to now We're pastures we're services. with yet us that actually it's have monetize and

Darren Aftahi

XX order any, do sort into if Fintech to the what to So, say, on your investment to make, business? next goals, 'XX, that in let's of months just that hit point, of the end in need you

Michael Seifert

I will little. say very

existing engine sales to We as much developing ecosystem in go as the the and both capital spent our within of into investment have the attract the merchants QX. well actually itself product

team on not spun of that acquisition to already actual the sales customer businesses we payments the platform We're and have attract development to completed. much spend work the having core is has are cost our X. XX,XXX up the merchants that our money the in ecosystem, now So, on early been

we we the Much actually years will feel comfortable the while the to to platform invested want anticipate of that that's has on in never core to come, stop why build. the completed, to have and processing been lifting now in obviously billions continued platform refinements So, continue of heavy our to platform. we the invest that we improvement in we

the would the gave XX for content I ecosystem. that that other solely that would frame. actually you time focusing I confident already next piece very are that efforts our The comfortable, and in our you is mention merchants XX-month months, toward we sales tell are

even have So, will do months the desired those respective XX next anticipate to over the our we to to of and and our not go payment associated with go outside achieve GMV merchants. audience we existing revenue that attract goals,

Darren Aftahi

Got more, maybe may, I Brad. helpful. it. Two That's for if

professional the way. fees savings On on spent you I consulting cost annualized $XX and guys side, some the along million, know had the

I X So, of help million But understand the next assume just $XX rate kind in year. sort cost? of can of me guess you of run run Jan $XX cost I'm contextualize to of rate starts I what of it's off trying fully million level savings. like

Bradley Searle

We're see Yes. those to Good question, Brad. Darren. starting This actually is savings.

been about month a have for We now.

pay mentioned last the severance little majority that's reduction there's this savings. in in bit and was had we the to of So a But month, force Q. out, cost the as of

that course. And them Fintech them of customer acquisition just segment segment, of BXB another already one transitioning we the BXB the or we in It's personnel, Michael that's focus segments. focused, savings is as businesses have cost the the X provide. of services like just virtually these to related offer those to can about on said, because segment over half -- are So rather

So a that's chunk. big

get will, the we're so that's to in looking more you to has there. And a lot being if plate then, we We've affordable, as dollar at for like savings on used is starting on consultants. been just now, more something We're every general year that mentioned, a learning. company and that saying, you we over We're higher house seeing ROI. bring have space some belt, a a we Another outsource. contractors, things take spent, can one, that's additional and our tightening to public

million that overall, our So, burn. significant $XX is part of a

at I OpEx, mentioned, If you EBITDA, it's look as million. course, our adjusted $X.X out of corporate taking

looking max you're at million in month a cash QX $X.X So burn. of

is Of back course, math. in napkin the this

million month per annualized $X If you spend of out, longer $XX take that's that's million no there.

cost XXXX. place We'll be full annualized. now. you're in taking right But the Darren, achieve So that correct, in it's will that

Darren Aftahi

guess then it, And I in How Q. I know we but your now. level the filed and -- think multitask can't I you Fintech should about on be high might margins, just gross right product? this guys

Bradley Searle

that then, And Michael, take to one. after in you Happy you'd can Yes. if like. fill

those XX% margin. For that pretty -- credit, was reason to to in are it's much the growth -- purely margin Fintech year-over-year that mainly was segment. XX% purely due had credit, the from we the revenue It is and

them So of revenue different. when underwriting there a different look hand, credit, streams X at is and within the little There's plus. revenue. On are you it's payments, of XX% are of on costs -- that all some cost servicing other

Michael mentioned, is the depends the take So XX%. the it as And rate, between merchant. anywhere and XX% of X.X% to on payments, size X.X%

yield So higher margin versa as merchants well. a and vice lower generally

So, what the that's Fintech segment. kind on looking we're of

remained the stagnant QX. segment, On Brands from it pretty

scale kind you fixed as should forward. Michael, will. kind should of And slightly get are cost to of then Those as fairly time anything reduction sales discounts, but expect lot improving of just remain those increase We as there? to that headcount to moving XX% bulk see over related well. Marketplace a costs segment the we that all and see and steady we add was of the Marketplace,

Michael Seifert

Yes. I payments add just margin. on the would that

We XX%. yes, X.X% margin with into the X.X% the about as rate, XX% over this $X to take billion the time style margin first for obviously, greater over a scale of a on higher of tranche to So, services in-house. looking associated well for merchants SMB focus more more yield forward as with that as that bring We're payments margin the we to business. a

X our the with the build transactions. And X margin time taking and greater segment as anticipating see increase would pants, then bundled we to cap. would we That's is lotions, that on actually So are into vertical products margin success to the goal launch years, should a next with soaps, heading hallmark we our becomes of reflected margin over et business we're no as of training over cetera, these X that in brand. to Brad's virtually payments comments, on a home payments fine for mention put the the QX like I SKUs Brands point on also EveryLife the additional that the

Operator

the with next line comes Our Asset question Sage of Barry from Haimes Management.

Barry Haimes

Lots of exciting changes. I just want to be sure I understand them.

totally get is get for trying they system. that onto may I goes that everything merchant one question. the payment So, you're your a to or sell? your When the what on sell payment they merchants sell wherever on else That's it site system, generally they

so, follow-up. someone the their been? doesn't quick the my who has I same one take first is experience it as that's the same consumer with And experience as payments, question. your has on you Marketplace have been? for And is So it

Michael Seifert

payments own we you. Great Great. is start representation their from Barry. our a Thank for or on merchant when around, website. hear their their is actually for to with own site? you, This onboard I'll question the Marketplace purely

So That that's checkout merchant live when process and first their us, expect example, month, million will place major merchant last with processing sent that is for our have over on us. we a their we we on actually annually taking they $XXX enterprise website. join

opportunity monetize own where on vast can site transactions. websites to bring a process This for we site for own those own as very their also, own payments holistic because obviously, our off Marketplace. is but more that's advantageous So And of vendors, their partner. majority the business on opportunities awareness actually merchant's as the transactions businesses on a the as we they the website us, have unique presence also where to have our actually referring conduct not and to experience on have the both allows that PublicSquare it help we marketing can website well our their

utilizing on Buy longer merchant merchant's Pay Later website to their in on one. Now, get of as we the or major actually PublicSquare own So growth number conduct a they have they're we That's own no technologies, just their a Credova also business. as the represented the journey part see

are that publicsquare.com. But So Marketplace, of a to a $X consumers and have question, with of generate point-of-sale we that, when consumer are notice We you on on changes. through or PublicSquare is what on listing, we of money on we revenue also we link the our say over have that own at happens a that businesses from challenge on One XXXX. we are with are we the that do won't for not system. evolve billion to from make merchant the checkout experience, sales the have plan Marketplace experience, head products to have we've Marketplace. And Marketplace side notice the of is we our large won't the any address able that their quantity final take your about into place still PublicSquare the take platform businesses there consumers part you We that $X annualized at still thing that checkout that I checkout contracted the that volume, transactions websites. To X% any consumer that's GMV in merchants transact those our mean experience second taking on billion one-cart would these what planned technology able while the checkout. take on rate mention checkout where Merchants products had is is as changes either our things. to to-date rate their that, but our our linked advertising blended are to system, in our take that listed expected

mean listing, linked had So doesn't have a a time can that monetizing free checkout. because mean you we've hard necessarily historically, it our to folks advertise one-cart doesn't you and those that necessarily you're

to the don't products affiliate site a a trying So, checkout. toward our in the next when developing the in linked create real to earlier in have but call, few us here that's that presence talked quarters an for my have targeted about priority on remarks merchants approach, earnings I fee-based really our

we Marketplace. can the that go And are on is Marketplace own essentially the merchant. create website, that affiliate an would listing. the list if with their our still to company forward merchants move publicsquare.com acting off as we be merchant's system see we as affiliate where an the consumers Consumers of goal by transaction to that able Our monetizing even

merchants will So not own actually that may payments experience Marketplace, with we any generating primarily ways website. And site, on the technology we utilized have merchant can helpful but site experience own PublicSquare we you attract any in hope that's are for a be consumer The notice developing at for. I the obviously, but new changes changes. selling the listing the on is that clarity. actually recap, that are won't fee merchant's on checkout, affiliate notice traffic the revenue our our not

Barry Haimes

One else what's follow-up. the is presumably, the Immersion main using because main someone point, quick ] for [ selling In -- payments.

So selling main your brand what's unchanged resonating? then strategy, finally, just the And us? to check point? wanted all switch to of you What's that double to guys, is through

Michael Seifert

Barry. Yes. you, Thank

Brand you -- I might the strategy, So, unchanged. remind is need then I'll me of on the and strategy to question. with start the brand first

as also as just we're the performance We're excel Brands over for looking the look of continues And moving Marketplace way inform to we division the from grateful sales. few in actually forward. first over $X that at month not are customers the which October to We we how we month QX, eclipsed continuing million forward to our the of in data our the months but grow EveryLife. past

that we made from reminder, we brand. the on they diaper wipes because were consumers clear were our EveryLife a life-affirming launched and seeking a PublicSquare Marketplace As

main for which We about that question actually overwhelming of would this that be to and the one, their deploy into categories. Number confidence join audience acquisition selling us this the giving to promise. have this. meet to without our you allowed moms lot to We X it first points market payments talk I to are needs, they many were their existing our as brand asked merchants customer provider down brand us in leave a costs. And requesting in break I the created able of endeavor. cancel-proof specifically related

because is so working industry, firearms many sports are with financial the is opposed institutions the unaddressed for shooting ignored afraid reason example, firearms timid So, the or and industry. to and completely or that

payment companies on often. that by currently way story a utilizing been we have companies we are platform, great So, have too X that great canceled our over processors. It's hear Credova

mind. to a we we're Once never partners. points multiple a any not they that, We checkout a happen sleep that ensure of for merchant can a at their They knowing of the you at not from in you're promise the is do. redundancy easier experience same have the shares can are canceling when And say, able peace sense of promise. to like a family, we that real so, actually And protected and business our we're of would they their cancel-proof night, through feeling the that to you. merchant of love attract merchant have come have leaving, by that

to data. on it the handle to can that with on own. The allow problem through it The either second especially they're it having technology, thing it is can vault, to the relates of store our they storing compliance main options X doing is and the as They all small Many generally or customer with the we their for a businesses processor differentiator. consumer their actually and store to I are independently given that way own burden faced it of X address independently that store a would merchant so. major encrypted allow tokenized handle data actually is

though, just you problem has when mind. interest processor This you So, processor no trust your to the like it to or feel in leave store best longer becomes sometimes gets your easier major want to it. the a processor

we've held the consumer information merchant that's stores the and autonomy of data has for by handle actually us. are independently, risky. the it the actually spaces to add encrypted that major vault burden. here, gives customer platform. I'd is that's data kind operate more one without safe so many fully to And and that and compliance having that merchant reputationally not many and is join utilize trust And more piece a and merchant be to This and come on allowed that to in deemed because secure their they do able our to businesses is a what more attracted win payments merchants

of the in because as work are early given with firearms. the I'll our the What that premiums a rates risk that serious use to of chunk again, example, financial volume will firearms sports large industry merchants So, shooting is is do charge an take willing will that they reputational here. them the institutions associate terms of with they

risk don't firearms. we see us, For reputational in any

with for it's allowed technology red-blooded to same. are rights charge us attracted the a firearms." This incredibly because multiple merchants a only you save going for the fact point existing to developed of especially either and they us PublicSquare Second Amendment of just say, that also to and has a already us these because the with redundancy, when reliable charge as with merchants, That's Americans we selling been sell a value pitch in build money to merchant help merchant you already. not worked a us happen because for customers are process Pay provide were already not We that, because Buy we we're promise upon because Amendment. wanting allowed that not cancel-proof we've had Later do to them exercise the "Let's has premium you points Second sales or do And premium that their Now, you it their well major with trust the

Operator

like to questions And back Kent. to William over on hand side conference you. have for we things don't I'd any Thank the now.

William I. Kent

platform that up Thank Technologies we We'll questions closing before the couple a you, call. now through received the address Ian. Say of

expectedly hitting reach do or told now? has Credova, to Our first this to quarter. of within cash that After prior near Credova, positivity limited the would PublicSquare your of this question we next And Where your it place is, moved. is you milestone purchase growth flow purchase were prior milestone?

Michael Seifert

Great platform, to you. all love question. great interact opportunity I by the It's with Say the a of Technologies way.

Say quarters, our shareholders. great it bit. It's So, quite to as forward look use to hear value we from that We everybody would we Technologies a platform. encourage to

So, this question is exactly correct.

to without the the Later be stack, truly and increasing Credova of Now, opportunity able checkout of own Before entire actually this the we technology, the here. and And were capitalize Buy flow positivity obviously, from the that payments mean that vision something the acquisition of either we Pay we nature Marketplace. say we to year. the and Credova, we on had cash anticipated we the when to through spend. Post special And onto had level to was asset-light the profits of generate cash discovered ability positivity through the acquisition ability profits, due Marketplace refinement our of that processing flow or

years And development last so the would over X what and driver and decided, profit to we revenue months the the for become invest months in to come. of in major a us

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William I. Kent

Michael. Thank you,

to merchant that, system. Next as level? to anything on I is but if answered add feedback you payment some new about it more there's relates our just question we you of know want that have

Michael Seifert

as with for operate are with grateful we've the we the excellence intentionality we love They I will the feedback that folks best conduct business we thus sales our platform promise practices them. The provide. These we really they of how team, our about are that you grown and ultimately, excellence feedback relationship We're force, with and centered hope in and our want cancel-proof of people tell their work that business. I our around feel that received of values merchants to America. the same can of the the the alignment far. largely has integrity, as the been engineering

them feel with but see communicated operating knowing not deal that a have entity that an and they're is ignoring abusing as does merchants Our not that not because how has instead them, them comfort is great they as life, feel. of we American way are being actor, risk It that the them businesses reputational that of the high of a sees true. is to benefit fundamental

and Again, we forward to not we're when Technology on more of technology, able that actually come much grateful as confidence head previously communicated and in multiple have have going words they ecosystem. put focus we're XXXX. they so, they for their that existing in Financial into a and to excited our feel to action it And the had providers with for service privacy, reliable behind of with level forward them this our we're and showcase redundancies security feedback,

William I. Kent

is from we last take And to our cetera. that that what Michael. obviously, and means you, on that going feel around, alignment, question impact Say our values how forward we'll election about business et the Thank Tech and

Michael Seifert

Yes, won't so of I of little that love earlier, a mirrors what hope. much. feel Darren Obviously, this question. this a say I bit asked too I'll great just elaborate I deal

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even So a greater coming the I great I'm confidence to after of out feel of going XX. deal January feel election. of level an confidence

of we are the at they prioritizing what the ballot engage over and bellwether And dollars excitement of a the so the hopefully companies gives just to looking the course coming growth voted as in that have can first people to through own their vote that anticipate me with the far, seen actually it same in great sort box, values of company, American years. the week, we for our

and of think of And potentially golden party it's that a and America little forward look special to very of So, I birthday coincidence XXXth don't X hosting will the a what we be our a the America the think of is bit be its years, any I unique course age. next at dawn over could celebrating own.

So the we're environment. excited wins about the political in

pressure even with excited deal feel they of as businesses hope about the the They for shoulder great our we're the importantly, forward, and economic their look eases incoming hopefully, ecosystem. on small a our wins More in administration.

William I. Kent

Michael. Will Thank back for you it hand closing you, to any comments.

Michael Seifert

the thank you, you were today. all Will. shareholders an for and honor is with speak in Brad, to and interested to Thank call tuning you, It that Thank you all. parties

fantastic is forward of the an patriotic growing And and ultimately We are all to to all those XXXX, we our values due market we economy meritocracy, and report the love We and joining. look thankfully, that shareholders as enormous. results. you have have support the cannot the community. We believe hope embracing country strong love from We deal and forward in country serving community of excellence, pressing feel are investment we wait QX a year. Thank look unaddressed a American team the that focused and our innovation, embraces on made members, the for a caliber for to power great interested XXXX. for through a that of and to confidence remainder we most you into of you commerce

PSQ (PSQH) 12 Nov 242024 Q3 Earnings call transcript