The company's financial position has weakened significantly, with the debt-to-equity ratio rising to 0.96 in 2026Q1 from a low of 0.03 in 2023Q4.
| Total Current Assets | 27.42M | 31.77M | 46.84M | 21.17M | 2.62M | 431.56K |
| Cash & Short-Term Investments | 10.06M | 14.64M | 36.32M | 16.45M | 2.33M | 399.4K |
| Cash Only | 10.06M | 14.64M | 36.32M | 16.45M | 2.33M | 399.4K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.18M | 1.88M | 4.75M | 204.88K | 0 | 0 |
| Days Sales Outstanding | 34.78 | 37.73 | 74.72 | 13.15 | - | - |
| Inventory | 0 | 0 | 2.66M | 1.44M | 0 | 0 |
| Days Inventory Outstanding | 21.27 | - | 106.53 | 138.3 | - | - |
| Other Current Assets | 15.18M | 15.24M | 3.1M | 3.08M | 289.38K | 32.15K |
| Total Non-Current Assets | 26.94M | 27.91M | 28.06M | 4.07M | 1.6M | 584.76K |
| Property, Plant & Equipment | 748.16K | 856.62K | 550.14K | 451.38K | 320.24K | 0 |
| Fixed Asset Turnover | 29.59x | 21.25x | 42.17x | 12.60x | 1.48x | - |
| Goodwill | 10.93M | 10.93M | 10.93M | 0 | 0 | 0 |
| Intangible Assets | 13.79M | 14.57M | 15.79M | 3.56M | 1.27M | 582.26K |
| Long-Term Investments | 0 | 0 | 735.12K | 0 | 0 | 0 |
| Other Non-Current Assets | 1.46M | 1.55M | 50K | 63.55K | 7.96K | 2.5K |
| Total Assets | 54.35M | 59.68M | 74.89M | 25.25M | 4.22M | 1.02M |
| Asset Turnover | 0.45x | 0.30x | 0.31x | 0.23x | 0.11x | 0.01x |
| Asset Growth % | 40.06% | -20.32% | 196.65% | 498.88% | 314.8% | - |
| Total Current Liabilities | 16.24M | 15.67M | 8.62M | 4.01M | 684.49K | 155.81K |
| Accounts Payable | 5.15M | 5.35M | 3.5M | 1.83M | 424.06K | 143.34K |
| Days Payables Outstanding | 130.78 | 348.65 | 140.14 | 175.72 | 216.15 | 418.62 |
| Short-Term Debt | 7.74M | 6.5M | 3.78M | 0 | 0 | 0 |
| Deferred Revenue (Current) | 2.05M | 0 | 53.67K | 225.15K | 49.65K | 0 |
| Other Current Liabilities | 3.35M | 3.82M | 66.01K | 0 | 0 | 0 |
| Current Ratio | 1.69x | 2.03x | 5.43x | 5.29x | 3.83x | 2.77x |
| Quick Ratio | 1.69x | 2.03x | 5.12x | 4.93x | 3.83x | 2.77x |
| Cash Conversion Cycle | -74.72 | - | 41.11 | -24.26 | - | - |
| Total Non-Current Liabilities | 29.79M | 30.57M | 39.42M | 10.81M | 129.76K | 0 |
| Long-Term Debt | 267.73K | 354.29K | 28.45M | 0 | 0 | 0 |
| Capital Lease Obligations | 303K | 0 | 163.72K | 16.46K | 129.76K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 29.52M | 30.22M | 10.81M | 10.79M | 0 | 0 |
| Total Liabilities | 46.03M | 46.24M | 48.04M | 14.81M | 814.25K | 155.81K |
| Total Debt | 8.01M | 6.85M | 32.51M | 327.37K | 299.04K | 0 |
| Net Debt | -2.05M | -7.79M | -3.81M | -16.12M | -2.03M | -399.4K |
| Debt / Equity | 0.96x | 0.51x | 1.21x | 0.03x | 0.09x | - |
| Debt / EBITDA | -0.33x | - | - | - | - | - |
| Net Debt / EBITDA | 0.08x | - | - | - | - | - |
| Interest Coverage | -17.24x | -6.09x | -24.05x | -299.53x | - | - |
| Total Equity | 8.33M | 13.44M | 26.85M | 10.43M | 3.4M | 860.5K |
| Equity Growth % | 203.82% | -49.96% | 157.33% | 206.76% | 295.28% | - |
| Book Value per Share | 0.15 | 0.29 | 0.84 | 0.48 | 0.30 | 0.04 |
| Total Shareholders' Equity | 8.33M | 13.44M | 26.85M | 10.43M | 3.4M | 860.5K |
| Common Stock | 4.87K | 4.97K | 4.28K | 2.76K | 1.5K | 486 |
| Retained Earnings | -162.97M | -156.51M | -119.9M | -62.21M | -8.88M | -1.91M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and solvency pressure
As reported in recent financial filings, PSQH's equity base has contracted significantly from $26.9M in 2024Q4 to $8.3M in 2026Q1, reflecting a persistent erosion of net assets driven by ongoing operational losses and the accumulation of a $163.0M deficit in retained earnings.
The consistent decline in equity suggests that the company is consuming its capital base to fund operations rather than generating internal growth. Investors should monitor whether this trajectory necessitates further dilutive equity raises to maintain basic solvency.
Based on the latest quarterly data, PSQH's cash position has dwindled to $10.1M as of 2026Q1, down from a peak of $36.3M in 2024Q4, indicating a rapid depletion of liquid assets relative to the company's ongoing operational burn rate.
The current ratio of 1.69 provides a modest buffer, but the absolute decline in cash reserves suggests that the company's liquidity position is becoming increasingly fragile. This trend warrants close investigation into the company's ability to sustain operations without immediate external financing.
According to financial statements, PSQH's debt-to-equity ratio has climbed to 0.96 in 2026Q1 from a low of 0.03 in 2023Q4, signaling an increased reliance on debt financing as the company's equity base shrinks and operational cash flow remains persistently negative.
The shift toward higher leverage appears to be a necessity-driven response to capital depletion rather than a strategic move to optimize the capital structure. This rising debt burden may limit future financial flexibility and increase the risk profile for equity holders.
As indicated by the balance sheet, goodwill remains constant at $10.9M, which represents a significant portion of the $54.4M total assets, suggesting that potential impairment risks could further erode the company's book value if the underlying business segments fail to meet performance expectations.
The reliance on intangible assets to support the balance sheet highlights a potential vulnerability, as these values are highly sensitive to management's long-term growth assumptions. Investors should consider the possibility that these assets may not be fully recoverable in a liquidation or stress scenario.
Quick answers to the most common questions about buying PSQH stock.
As of 2025, PSQ Holdings, Inc. (PSQH) had total assets of $59.7M including $31.8M in current assets.
PSQ Holdings, Inc. (PSQH) carries total debt of $6.9M, offset by $14.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
PSQ Holdings, Inc. (PSQH) has total shareholders' equity (book value) of $13.4M ($0.29 book value per share). Book value represents the net worth of the company belonging to common stock holders.
PSQ Holdings, Inc. (PSQH) reported a current ratio of 2.03x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.