Fintech Expansion and Contracted GMV
PublicSquare has shifted focus to Fintech, signing contracts potentially resulting in over $1 billion in annualized GMV within just 120 days of sales. The first enterprise merchant is expected to process over $100 million annually on the payments platform.
Revenue Growth and Expansion
Net revenue increased by 222% to $6.5 million compared to Q3 2023. EveryLife brand revenue grew 126% year-over-year.
Cost Optimization and Efficiency
Strategic reorganization reduced workforce by over 35%, expected to save $11 million annually and contribute to reaching positive cash flow in 2025.
Marketplace and Brand Segment Performance
Marketplace order volume grew 13% from Q2 to Q3 2024. EveryLife brand saw a 14% quarter-over-quarter revenue increase and a 126% year-over-year increase.
Gross Margin Improvement
Overall gross margin expanded year-over-year from 27% to 64%, primarily due to high-margin revenue from Fintech credit products.