Today was earnings day for us at PublicSquare and we're thrilled to report our company's performance from 2024.
First, I couldn't be more proud of our team for the monumental achievements in 2024. I am convinced that we have the best team of people on the planet to accomplish our vision; this team is deeply committed to enhancing the lives of, and providing value to, our customers, merchants, and shareholders.
Secondly, thank you to everyone who joined us on our earnings call. We're deeply appreciative of any opportunity we have to connect with those who are invested in our vision of building commerce for a better America ????
Now, onto the results:
- 2024 net revenue of $23.2 million was up 308% (over 4x) from $5.7 million in 2023.
- Our Gross Margin in 2024 was 61% compared to 33% in 2023.
- Q4 2024 net revenue of $7.2 million was up 167% YoY from $2.7 million in Q4 2023.
- We ended the year with $36.3 million in cash and a healthier balance sheet than ever before.
- Our wholly-owned family brand EveryLife experienced 276% YoY revenue growth.
- As of today, we have already signed $2.5 billion in annualized payments GMV contracts, less than 6 months into the launch of our payment stack.
- As of yesterday, we signed a Letter of Intent for a new asset-backed lending facility and a working capital line of credit provided by a trusted banking institution. We expect these moves will reduce our cost of capital by approximately 50%.
- December 2024 brought the highest month ever for order volume and gross sales on the PublicSquare Marketplace, Christmas shopping season sales were up 34% from last year, and Christmas shopping season conversion rates doubled from last year.
- We announced today that we expect year-over-year revenue growth of greater than 100% (or greater than $46 million) in 2025.
- We also announced that 2025 operating expenses (general and administrative, sales and marketing, and research and development) will be lower than 2024.
The best part is that we're only four years old, at the forefront of this new American Golden Age, and just getting started.
$PSQH ????