PSQ Holdings, Inc.PSQH

PSQ Holdings, Inc. Leases Disclosure

10-KFiled Mar 13, 20252 min read
Leases
From time to time, the Company may enter into short-term or long-term lease arrangements as part of its normal operations. On September 1, 2022, the Company entered into a two-year lease for office space in Rancho Santa Fe, California at a monthly rate of $15,538 for year one and $16,719 for year two. This lease agreement terminated on August 31, 2024 in accordance with the original terms.

The Company entered into 16-month sublease for office space in West Palm Beach, Florida on October 1, 2023 at a monthly rate of $16,457 which terminated on February 28, 2025.

As part of the Credova acquisition, the Company acquired a four-year office lease in Bozeman, Montana, that terminates in April 2027. The monthly rental expense is $10,468.
Rent expense under the operating leases included in the results of operations, inclusive of common area maintenance charges and real estate taxes, was $0.5 million and $0.3 million for the years ended December 31, 2024 and 2023, respectively.
The following amounts were recorded in the Company’s consolidated balance sheets relating to its operating leases and other supplemental information:
 December 31,
 20242023
ROU assets$274,603$324,238
Lease liabilities:  
Current lease liabilities$122,587$310,911
Non-current lease liabilities163,71616,457
Total lease liabilities$286,303$327,368
Other supplemental information:  
Weighted average remaining lease term2.2 years1 year
Weighted average discount rate10.20 %10.50 %
The following table presents the lease payments relating to the Company’s operating leases:
Fiscal YearDecember 31,
2024
2025$144,273 
2026131,196 
202744,112 
Total lease payments319,581 
Less: imputed interest(33,278)
Present value of operating lease liabilities$286,303 

Historical Timeline

Fiscal YearFiled
2024Mar 13, 2025Showing above
2023Mar 14, 2024

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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