Sezzle Inc.

Listed Company

SEZLCIK 0001662991NasdaqLarge AcceleratedServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$450.28M

Net Income

$133.13M

Total Assets

—

Equity

—

Shares Out

33.63M

Op. Cash Flow

$209.91M

Business

Sezzle Inc. is a purpose-driven digital payments company that provides point-of-sale installment financing to consumers as an alternative to traditional credit. Its offerings include the Sezzle Platform with products such as pay-in-four, pay-in-two, pay-in-full, Sezzle Virtual Card, Sezzle Premium, Sezzle Anywhere, Sezzle On-Demand, Sezzle Up credit reporting, and access to third-party long-term loans. The company serves two primary merchant segments—small-to-medium–sized businesses (SMB) and enterprise merchants—across numerous retail verticals. Sezzle operates primarily in the United States and Canada through merchant integrations, a mobile app, online dashboard, and an omnichannel virtual card for in-store and online use.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	450	271	159	126	115
Personnel	55	52	46	51	57
Transaction expense	66	51	39	41	43
Third-party technology and data	14	10	8	8	6
Marketing, advertising, and tradeshows	32	10	12	19	9
General and administrative	17	11	—	—	—
Provision for credit losses	89	55	23	29	53
Total operating expenses	273	189	137	154	183
Operating Income	177	82	22	−28	−69
Net interest expense	−14	−14	−16	—	—
Other income, net	123,000	354,000	2	−225,606	−65,145
Fair value adjustment on warrants	0	−1	−455,962	50,424	0
Loss on extinguishment of line of credit	0	−260,000	0	−813,806	−1
Income before taxes	163	67	8	−38	−75
Income tax expense (benefit)	30	−11	611,487	69,447	58,416
Net Income	133	79	7	−38	−75
Foreign currency translation adjustment	900,000	−900,000	−3,025	−1	69,406
Total Comprehensive Income	134	78	7	−39	−75
Basic (in usd per share)	3.93	2.33	1.27	−7	−0.38
Diluted (in usd per share)	3.72	2.19	1.25	−7	−0.38
Basic (in shares)	34	34	6	5	200
Diluted (in shares)	36	36	6	5	200

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents, including amounts held by variable interest entity (VIE) of $25,921 and $30,899, respectively	64	73	68	68	77
Restricted cash, current, including amounts held by VIE of $8,245 and $4,096, respectively	8	5	3	1	2
Notes receivable	283	191	143	104	—
Allowance for credit losses	−29	−26	−12	−10	—
Notes receivable, net, including amounts held by VIE of $237,062 and $152,174, respectively	255	165	131	93	—
Other receivables, net	6	4	2	3	5
Prepaid expenses and other current assets	18	11	6	5	3
Total current assets	352	258	209	170	221
Internally developed intangible assets, net	3	2	2	1	910,584
Operating right-of-use assets	665,000	800,000	994,476	86,715	285,865
Restricted cash, non-current	30	20	82,000	20,000	20,000
Deferred tax asset, net of $0 and $3,742 valuation allowance, respectively	14	17	0	—	—
Other assets	620,000	331,000	625,471	1	233,752
Total Assets	400	298	213	173	223
Merchant accounts payable	56	69	74	83	97
Other payables, including amounts held by VIE of $1,476 and $1,103, respectively	7	7	5	4	3
Deferred revenue	5	4	3	2	0
Other current liabilities	21	25	11	10	8
Total current liabilities	90	106	187	99	108
Operating lease liabilities	661,000	823,000	981,692	0	90,962
Line of credit, net of unamortized debt issuance costs of $1,268 and $1,008, respectively, held by VIE	140	104	0	64	78
Other non-current liabilities	0	45,000	1	0	0
Total Liabilities	230	211	191	164	186
Commitments and Contingencies (see Note 11)	—	—	—	—	—
Common stock and additional paid-in capital, $0.00001 par value; 750,000 shares authorized; 35,130 and 34,786 shares issued, respectively; 33,798 and 33,735 shares outstanding, respectively	195	189	2,085	2,083	2,044
Treasury stock, at cost: 1,332 and 1,051 shares, respectively	−24	−9	−6	−4	−4
Accumulated other comprehensive loss	−683,000	−2	−646,999	−643,974	563,911
Accumulated deficit	−324,000	−90	−158	−165	−127
Total Stockholders' Equity	170	88	22	9	38
Total Liabilities and Stockholders' Equity	400	298	213	173	223

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	1	965,000	855,803	847,126	749,111
Provision for other credit losses	33	11	3	9	7
Discount on notes receivable	−735,000	460,000	—	—	—
Equity based compensation and restricted stock vested	7	5	7	10	14
Amortization of debt issuance costs	532,000	526,000	732,029	983,745	689,930
Impairment losses on long-lived assets	68,000	48,000	42,247	39,512	5,475
Gain on sale of fixed assets	−21,000	−55,000	25,621	79,683	0
Deferred income taxes	3	−17	0	—	—
Other receivables	−36	−13	−2	−7	−11
Prepaid expenses and other assets	−7	−5	−1	−1	−2
Merchant accounts payable	−13	−4	−9	−13	36
Other payables	−572,000	2	1	1	2
Accrued and other liabilities	−2	13	1	2	7
Deferred revenue	1	2	1	2	0
Operating leases	40,000	74,000	51,933	15,548	−20,124
Net Cash Provided from Operating Activities	210	131	−26	9	−72
Purchases and originations of notes receivable, net of proceeds from repayments	−179	−90	—	—	—
Purchase of property and equipment	−655,000	−70,000	−81,609	−52,236	−686,032
Internally developed intangible asset additions	−2	−1	−1	−955,841	−733,995
Net Cash Used for Investing Activities	−182	−91	−1	−1	−1
Proceeds from line of credit	181	107	55	71	175
Payments to line of credit	−145	−97	−25	−85	−136
Payments of debt issuance costs	−792,000	−1	−128,598	−1	−2
Proceeds from stock option exercises	4	4	26,996	100,370	765,786
Stock subscriptions collected related to stock option exercises	44,000	39,000	0	324,378	246,999
Proceeds from warrant exercises	0	401,000	0	—	—
Repurchase of common stock	−65	−24	−2	−381,434	−3
Net Cash Used for Financing Activities	−25	−10	28	−16	63
Effect of exchange rate changes on cash	1	−1	17,402	−1	98,376
Net increase in cash, cash equivalents, and restricted cash	3	29	1	−8	−10
Conversion of accrued profit-sharing incentive plan liabilities to stockholders' equity	2	0	—	—	—
Conversion of warrant liabilities to stockholders' equity	0	2	—	—	—
Interest paid	15	14	16	8	5
Federal income taxes paid	21	—	—	—	—
State income taxes paid	7	—	—	—	—
Foreign income taxes paid	385,000	—	—	—	—
Total income taxes paid	28	5	452,426	65,395	56,017

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