Sezzle (SEZL) Financials

$99.82 +13.80 (+16.04%)

Closing price 04:00 PM Eastern

Extended Trading

$97.51 -2.31 (-2.31%)

As of 07:59 PM Eastern

Annual Income Statements for Sezzle

This table shows Sezzle's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-32	-75	-38	7.10	79	133
Consolidated Net Income / (Loss)	-32	-75	-38	7.10	79	133
Net Income / (Loss) Continuing Operations	-32	-75	-38	7.10	79	133
Total Pre-Tax Income	-32	-75	-38	7.71	67	163
Total Operating Income	-28	-69	-28	22	82	177
Total Gross Profit	28	58	74	113	219	395
Total Revenue	59	115	126	159	271	450
Total Cost of Revenue	31	57	51	46	52	55
Operating Cost of Revenue	31	57	51	46	52	55
Total Operating Expenses	56	127	103	91	137	219
Selling, General & Admin Expense	7.21	16	16	8.59	11	17
Marketing Expense	4.27	9.25	19	12	9.74	32
Other Operating Expenses / (Income)	45	102	67	70	116	170
Total Other Income / (Expense), net	-4.43	-6.43	-9.59	-14	-15	-14
Interest Expense	4.30	6.36	9.41	16	14	14
Other Income / (Expense), net	-0.13	-0.07	-0.18	1.48	-0.91	0.12
Income Tax Expense	0.03	0.06	0.07	0.61	-11	30
Basic Earnings per Share	($0.17)	($0.38)	($7.00)	$1.27	$2.33	$3.93
Weighted Average Basic Shares Outstanding	186.84M	200.34M	5.44M	5.61M	33.71M	33.91M
Diluted Earnings per Share	($0.17)	($0.38)	($7.00)	$1.25	$2.19	$3.72
Weighted Average Diluted Shares Outstanding	186.84M	200.34M	5.44M	5.68M	35.89M	35.74M
Weighted Average Basic & Diluted Shares Outstanding	-	204.41M	208.27M	5.63M	5.64M	33.80M

This table shows Sezzle's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1.14	1.29	2.94	8.01	30	15	25	36	28	27	43
Consolidated Net Income / (Loss)	1.14	1.29	2.94	8.01	30	15	25	36	28	27	43
Net Income / (Loss) Continuing Operations	1.14	1.29	2.94	8.01	30	15	25	36	28	27	43
Total Pre-Tax Income	1.16	1.31	3.50	8.40	14	18	28	47	33	32	52
Total Operating Income	3.76	5.35	7.67	14	17	21	31	50	36	36	55
Total Gross Profit	23	30	37	36	43	57	84	90	87	102	116
Total Revenue	35	41	49	47	56	70	98	105	99	117	130
Total Cost of Revenue	12	11	12	11	13	13	15	15	12	14	14
Operating Cost of Revenue	12	11	12	11	13	13	15	15	12	14	14
Total Operating Expenses	19	24	30	22	27	36	53	40	51	67	61
Selling, General & Admin Expense	1.70	2.18	1.91	2.38	2.52	2.42	4.08	3.13	3.85	4.82	4.97
Marketing Expense	3.31	3.62	1.86	0.66	1.00	2.73	5.36	5.35	8.77	8.78	9.30
Other Operating Expenses / (Income)	14	19	26	19	23	31	43	31	38	53	47
Total Other Income / (Expense), net	-2.60	-4.04	-4.16	-5.44	-3.12	-3.23	-3.14	-2.89	-3.41	-3.93	-3.67
Interest Expense	3.93	4.14	4.51	4.08	3.17	3.33	3.44	2.91	3.50	3.92	3.68
Other Income / (Expense), net	1.33	0.10	0.35	-1.35	0.05	0.10	0.30	0.03	0.09	-0.01	0.02
Income Tax Expense	0.02	0.02	0.56	0.39	-16	2.16	2.36	11	5.07	4.96	8.89
Basic Earnings per Share	$0.20	$0.23	$0.53	$0.24	$0.87	$0.46	$4.53	$1.07	$0.82	$0.78	$1.26
Weighted Average Basic Shares Outstanding	5.58M	5.67M	5.61M	33.96M	33.96M	33.27M	5.62M	33.85M	33.73M	34.05M	33.91M
Diluted Earnings per Share	$0.20	$0.23	$0.51	$0.22	$0.82	$0.44	$4.24	$1.00	$0.78	$0.75	$1.26
Weighted Average Diluted Shares Outstanding	5.66M	5.73M	5.68M	35.77M	36.15M	35.44M	5.98M	36.17M	35.51M	35.68M	35.74M
Basic & Diluted Earnings per Share	-	-	-	-	-	-	-	-	-	-	$1.26
Weighted Average Basic & Diluted Shares Outstanding	5.68M	-	5.63M	5.67M	5.60M	5.61M	5.64M	33.29M	34.02M	34.15M	33.80M

This table details how cash moves in and out of Sezzle's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	52	-10	-8.18	1.16	29	2.93
Net Cash From Operating Activities	-25	-72	8.51	-26	131	210
Net Cash From Continuing Operating Activities	-25	-72	8.51	-26	131	210
Net Income / (Loss) Continuing Operations	-32	-75	-38	7.10	79	133
Consolidated Net Income / (Loss)	-32	-75	-38	7.10	79	133
Depreciation Expense	0.43	0.75	0.85	0.86	0.97	1.36
Amortization Expense	0.42	0.69	0.98	0.73	0.53	0.53
Non-Cash Adjustments To Reconcile Net Income	29	75	50	34	73	129
Changes in Operating Assets and Liabilities, net	-23	-74	-5.13	-68	-22	-54
Net Cash From Investing Activities	-0.73	-1.42	-1.01	-1.37	-91	-182
Net Cash From Continuing Investing Activities	-0.73	-1.42	-1.01	-1.37	-91	-182
Purchase of Property, Plant & Equipment	-0.73	-1.42	-1.01	-1.37	-1.46	-2.70
Purchase of Investments	-	-	-	-	-90	-179
Net Cash From Financing Activities	78	63	-16	28	-10	-25
Net Cash From Continuing Financing Activities	78	63	-16	28	-10	-25
Repayment of Debt	-67	-140	-87	-25	-99	-145
Repurchase of Common Equity	-3.10	-2.65	-0.38	-1.68	-24	-65
Issuance of Debt	87	175	71	55	107	181
Other Financing Activities, net	0.44	1.01	0.42	0.03	4.36	3.78
Cash Interest Paid	3.77	4.82	7.79	16	14	15
Cash Income Taxes Paid	0.01	0.06	0.07	0.45	4.77	28

This table details how cash moves in and out of Sezzle's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Net Change in Cash & Equivalents	3.37	3.80	3.67	12	-18	24	11	22	-2.03	15	-33
Net Cash From Operating Activities	6.55	-13	-15	39	-4.39	5.71	0.97	59	-36	33	154
Net Cash From Continuing Operating Activities	6.55	-13	-15	39	-4.39	5.71	0.97	59	-36	33	154
Net Income / (Loss) Continuing Operations	1.14	1.29	2.94	8.01	30	15	25	36	28	27	43
Consolidated Net Income / (Loss)	1.14	1.29	2.94	8.01	30	15	25	36	28	27	43
Depreciation Expense	0.21	0.22	0.23	0.23	0.25	0.23	0.26	0.27	0.32	0.37	0.39
Amortization Expense	0.18	0.18	0.20	0.20	0.12	0.10	0.11	0.11	0.11	0.11	0.20
Non-Cash Adjustments To Reconcile Net Income	7.19	8.57	13	8.37	13	19	31	23	21	47	37
Changes in Operating Assets and Liabilities, net	-2.17	-23	-32	22	-48	-29	-56	-1.10	-86	-41	74
Net Cash From Investing Activities	-0.42	-0.30	-0.33	-0.34	-0.43	-0.28	-0.41	-0.31	-1.02	-0.78	-179
Net Cash From Continuing Investing Activities	-0.42	-0.30	-0.33	-0.34	-0.43	-0.28	-0.41	-0.31	-1.02	-0.78	-179
Purchase of Property, Plant & Equipment	-0.42	-0.30	-0.33	-0.34	-0.43	-0.28	-0.41	-0.31	-1.02	-0.78	-0.59
Net Cash From Financing Activities	-2.76	17	19	-27	-13	19	11	-36	35	-17	-7.43
Net Cash From Continuing Financing Activities	-2.76	17	19	-27	-13	19	11	-36	35	-17	-7.43
Repayment of Debt	-1.50	-0.02	-6.90	-23	-50	-3.05	-23	-49	-20	-24	-53
Repurchase of Common Equity	-1.28	-0.34	-0.04	-3.80	-11	-7.82	-1.45	-2.44	-28	-3.97	-30
Issuance of Debt	-	18	26	0.00	47	28	33	15	80	11	75
Other Financing Activities, net	0.01	0.01	-	0.17	0.14	1.66	2.39	0.54	3.02	0.10	0.11
Cash Interest Paid	4.06	4.18	4.50	4.17	2.98	3.33	3.57	3.22	3.82	4.21	4.07
Cash Income Taxes Paid	0.07	0.00	0.38	0.00	1.53	2.02	1.22	0.09	25	0.16	2.74

This table presents Sezzle's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	174	223	173	213	298	400
Total Current Assets	173	221	170	209	258	352
Cash & Equivalents	84	77	68	68	73	64
Restricted Cash	4.80	1.89	1.22	2.99	4.85	8.41
Note & Lease Receivable	81	134	104	143	191	283
Accounts Receivable	1.40	5.08	2.53	1.57	3.63	6.19
Prepaid Expenses	1.71	3.35	4.74	6.22	11	18
Other Current Assets	-	-	-10	-12	-26	-29
Plant, Property, & Equipment, net	0.38	0.66	0.00	0.00	0.00	0.00
Total Noncurrent Assets	0.74	1.45	2.45	3.60	41	48
Intangible Assets	0.54	0.91	1.32	1.90	2.44	3.33
Noncurrent Deferred & Refundable Income Taxes	-	-	-	0.00	17	14
Other Noncurrent Operating Assets	0.20	0.54	1.12	1.70	21	31
Total Liabilities & Shareholders' Equity	174	223	173	213	298	400
Total Liabilities	114	186	164	191	211	230
Total Current Liabilities	68	108	99	187	106	90
Accounts Payable	61	97	83	74	69	56
Accrued Expenses	6.68	8.00	10	11	25	21
Current Deferred Revenue	-	0.00	1.52	2.64	4.23	5.43
Other Current Liabilities	0.76	3.05	4.21	5.26	7.46	6.91
Total Noncurrent Liabilities	46	78	65	3.28	105	141
Long-Term Debt	41	78	64	0.25	104	140
Other Noncurrent Operating Liabilities	4.48	0.09	0.51	3.03	0.87	0.66
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	60	38	8.84	22	88	170
Total Preferred & Common Equity	60	38	8.84	22	88	170
Total Common Equity	60	38	8.84	22	88	170
Common Stock	113	168	179	186	189	195
Retained Earnings	-52	-127	-165	-158	-90	-0.32
Treasury Stock	-0.88	-3.69	-4.07	-5.76	-9.39	-24
Accumulated Other Comprehensive Income / (Loss)	0.49	0.56	-0.64	-0.65	-1.59	-0.68

This table presents Sezzle's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025
Total Assets	159	153	155	196	212	253	298	351	367
Total Current Assets	157	151	153	192	190	232	266	312	329
Cash & Equivalents	58	59	62	78	58	80	89	89	104
Restricted Cash	0.87	1.52	1.28	3.82	5.38	7.17	15	11	11
Note & Lease Receivable	92	85	84	113	131	151	167	209	218
Accounts Receivable	2.35	1.89	1.96	1.32	1.02	3.82	3.26	4.03	7.42
Prepaid Expenses	3.59	3.74	3.59	5.43	6.80	8.58	12	23	23
Other Current Assets	-	-	-	-9.18	-12	-19	-21	-24	-34
Plant, Property, & Equipment, net	0.38	0.27	0.21	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	1.67	2.23	2.39	4.02	22	20	32	39	38
Intangible Assets	1.29	1.45	1.66	2.06	2.20	2.29	2.40	2.78	3.09
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	18	16	12	14	13
Other Noncurrent Operating Assets	0.38	0.78	0.73	1.97	1.85	2.29	18	22	21
Total Liabilities & Shareholders' Equity	159	153	155	196	212	253	298	351	367
Total Liabilities	153	140	139	166	162	192	172	220	212
Total Current Liabilities	99	77	79	93	92	97	102	89	94
Accounts Payable	84	65	67	74	71	70	65	60	58
Accrued Expenses	9.72	7.29	5.02	10	8.44	11	22	21	25
Current Deferred Revenue	0.53	1.64	1.80	3.13	3.94	4.37	4.13	4.26	4.85
Other Current Liabilities	5.26	3.22	4.43	5.59	8.31	11	10	2.83	6.42
Total Noncurrent Liabilities	54	62	60	73	70	95	71	131	118
Long-Term Debt	54	59	58	72	69	94	70	131	117
Other Noncurrent Operating Liabilities	0.00	3.45	2.70	1.46	0.96	0.91	0.82	0.78	0.72
Commitments & Contingencies	0.00	0.00	0.00	-	-	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5.73	14	16	30	50	61	126	130	155
Total Preferred & Common Equity	5.73	14	16	30	50	61	126	130	155
Total Common Equity	5.73	14	16	30	50	61	126	130	155
Common Stock	177	181	184	186	184	185	193	194	196
Retained Earnings	-166	-163	-162	-150	-126	-115	-54	-46	-19
Treasury Stock	-4.04	-4.10	-5.38	-6.07	-7.26	-7.94	-12	-17	-20
Accumulated Other Comprehensive Income / (Loss)	-1.05	-0.79	-0.49	-0.65	-0.72	-0.65	-1.50	-0.77	-1.11

This table displays calculated financial ratios and metrics derived from Sezzle's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	95.31%	9.37%	26.91%	70.14%	66.08%
EBITDA Growth	0.00%	-147.34%	60.21%	194.35%	227.83%	115.86%
EBIT Growth	0.00%	-145.02%	58.38%	182.76%	243.52%	117.50%
NOPAT Growth	0.00%	-145.89%	58.60%	202.69%	369.36%	50.61%
Net Income Growth	0.00%	-132.05%	49.32%	118.63%	1,006.26%	69.54%
EPS Growth	0.00%	-123.53%	-1,742.11%	117.86%	950.40%	69.86%
Operating Cash Flow Growth	0.00%	-190.75%	111.80%	-401.82%	259.20%	60.67%
Free Cash Flow Firm Growth	0.00%	0.00%	118.70%	-263.84%	226.69%	-25.86%
Invested Capital Growth	0.00%	203.04%	-90.87%	1,268.98%	146.79%	108.57%
Revenue Q/Q Growth	0.00%	0.00%	4.45%	7.14%	22.24%	7.56%
EBITDA Q/Q Growth	0.00%	0.00%	51.95%	16.05%	38.65%	15.74%
EBIT Q/Q Growth	0.00%	0.00%	50.33%	16.91%	39.79%	15.77%
NOPAT Q/Q Growth	0.00%	0.00%	50.57%	7.56%	24.82%	13.82%
Net Income Q/Q Growth	0.00%	0.00%	41.08%	48.09%	39.98%	14.96%
EPS Q/Q Growth	0.00%	0.00%	13.37%	-26.04%	39.68%	9.41%
Operating Cash Flow Q/Q Growth	0.00%	-33.93%	125.17%	-178.20%	64.17%	270.93%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	-211.97%	213.20%	-43.79%
Invested Capital Q/Q Growth	0.00%	0.00%	268.34%	0.00%	67.74%	50.67%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	47.80%	50.50%	59.21%	70.90%	80.91%	87.82%
EBITDA Margin	-46.29%	-58.62%	-21.33%	15.85%	30.55%	39.71%
Operating Margin	-47.51%	-59.82%	-22.64%	13.93%	30.33%	39.26%
EBIT Margin	-47.73%	-59.88%	-22.78%	14.86%	30.00%	39.29%
Profit (Net Income) Margin	-55.10%	-65.47%	-30.34%	4.45%	28.96%	29.57%
Tax Burden Percent	100.10%	100.08%	100.18%	92.07%	116.65%	81.73%
Interest Burden Percent	115.34%	109.25%	132.91%	32.56%	82.76%	92.07%
Effective Tax Rate	0.00%	0.00%	0.00%	7.93%	-16.65%	18.27%
Return on Invested Capital (ROIC)	-160.65%	-196.02%	-98.90%	82.62%	119.99%	82.30%
ROIC Less NNEP Spread (ROIC-NNEP)	-133.78%	-84.76%	470.93%	-61.31%	50.30%	58.00%
Return on Net Nonoperating Assets (RNNOA)	106.62%	42.22%	-64.47%	-36.74%	22.86%	21.04%
Return on Equity (ROE)	-54.03%	-153.80%	-163.37%	45.89%	142.86%	103.34%
Cash Return on Invested Capital (CROIC)	0.00%	-296.77%	67.63%	-90.15%	35.34%	11.93%
Operating Return on Assets (OROA)	-16.12%	-34.59%	-14.45%	12.29%	31.83%	50.65%
Return on Assets (ROA)	-18.60%	-37.82%	-19.24%	3.69%	30.73%	38.11%
Return on Common Equity (ROCE)	-54.03%	-153.80%	-163.37%	45.89%	142.86%	103.34%
Return on Equity Simple (ROE_SIMPLE)	-54.03%	-198.90%	-430.77%	32.13%	89.40%	0.00%
Net Operating Profit after Tax (NOPAT)	-20	-48	-20	20	96	144
NOPAT Margin	-33.26%	-41.87%	-15.85%	12.83%	35.38%	32.09%
Net Nonoperating Expense Percent (NNEP)	-26.87%	-111.26%	-569.83%	143.93%	69.69%	24.30%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	17.51%	50.01%	46.64%
Cost of Revenue to Revenue	52.20%	49.50%	40.79%	29.10%	19.09%	12.18%
SG&A Expenses to Revenue	12.27%	13.73%	13.07%	5.39%	4.21%	3.73%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	95.31%	110.32%	81.86%	56.97%	50.57%	48.56%
Earnings before Interest and Taxes (EBIT)	-28	-69	-29	24	81	177
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-27	-67	-27	25	83	179
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.70	0.00	0.00	5.27	16.33	12.77
Price to Tangible Book Value (P/TBV)	0.71	0.00	0.00	5.77	16.80	13.02
Price to Revenue (P/Rev)	0.72	0.00	0.00	0.73	5.29	4.81
Price to Earnings (P/E)	0.00	0.00	0.00	16.42	18.27	16.28
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	6.09%	5.47%	6.14%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	3.05	12.83	9.42
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	0.88	5.39	4.96
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	5.56	17.63	12.50
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	5.94	17.95	12.64
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	6.88	15.22	15.47
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	35.70	10.65
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	51.69	106.72
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.69	2.06	7.24	4.28	1.18	0.82
Long-Term Debt to Equity	0.69	2.06	7.24	0.01	1.18	0.82
Financial Leverage	-0.80	-0.50	-0.14	0.60	0.45	0.36
Leverage Ratio	2.90	4.07	8.49	12.45	4.65	2.71
Compound Leverage Factor	3.35	4.44	11.29	4.05	3.85	2.50
Debt to Total Capital	40.78%	67.35%	87.86%	81.07%	54.21%	45.19%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	80.86%	0.00%	0.00%
Long-Term Debt to Total Capital	40.78%	67.35%	87.86%	0.21%	54.21%	45.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	59.22%	32.65%	12.14%	18.93%	45.79%	54.81%
Debt to EBITDA	-1.52	-1.16	-2.39	3.75	1.26	0.78
Net Debt to EBITDA	1.76	0.01	0.20	0.95	0.31	0.38
Long-Term Debt to EBITDA	-1.52	-1.16	-2.39	0.01	1.26	0.78
Debt to NOPAT	-2.11	-1.62	-3.22	4.63	1.08	0.97
Net Debt to NOPAT	2.44	0.02	0.28	1.17	0.27	0.47
Long-Term Debt to NOPAT	-2.11	-1.62	-3.22	0.01	1.08	0.97
Altman Z-Score	0.33	0.00	0.00	0.57	6.09	9.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	2.53	2.06	1.72	1.12	2.44	3.92
Quick Ratio	2.44	2.01	1.76	1.13	2.53	3.94
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-73	14	-22	28	21
Operating Cash Flow to CapEx	-3,384.98%	-5,079.63%	844.36%	-1,881.27%	2,793.79%	7,788.76%
Free Cash Flow to Firm to Interest Expense	0.00	-11.44	1.45	-1.40	2.01	1.49
Operating Cash Flow to Interest Expense	-5.77	-11.34	0.90	-1.61	2.92	14.97
Operating Cash Flow Less CapEx to Interest Expense	-5.94	-11.56	0.80	-1.69	2.81	14.78
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.34	0.58	0.63	0.83	1.06	1.29
Accounts Receivable Turnover	41.89	35.40	32.97	77.65	104.26	91.75
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	156.69	221.30	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.50	0.72	0.57	0.59	0.72	0.87
Days Sales Outstanding (DSO)	8.71	10.31	11.07	4.70	3.50	3.98
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	724.70	505.61	639.74	618.47	504.51	417.23
Cash Conversion Cycle (CCC)	-715.99	-495.30	-628.67	-613.77	-501.01	-413.25
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	12	37	3.37	46	114	237
Invested Capital Turnover	4.83	4.68	6.24	6.44	3.39	2.56
Increase / (Decrease) in Invested Capital	0.00	25	-34	43	68	124
Enterprise Value (EV)	-5.65	0.00	0.00	141	1,460	2,235
Market Capitalization	42	0.00	0.00	117	1,434	2,168
Book Value per Share	$0.32	$0.19	$0.04	$3.89	$15.67	$4.97
Tangible Book Value per Share	$0.32	$0.18	$0.04	$3.56	$15.23	$4.87
Total Capital	101	116	73	117	192	310
Total Debt	41	78	64	95	104	140
Total Long-Term Debt	41	78	64	0.25	104	140
Net Debt	-48	-0.91	-5.48	24	26	68
Capital Expenditures (CapEx)	0.73	1.42	1.01	1.37	1.46	2.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	16	35	1.43	46	74	190
Debt-free Net Working Capital (DFNWC)	105	114	71	116	152	262
Net Working Capital (NWC)	105	114	71	22	152	262
Net Nonoperating Expense (NNE)	13	27	18	13	17	11
Net Nonoperating Obligations (NNO)	-48	-0.91	-5.48	24	26	68
Total Depreciation and Amortization (D&A)	0.85	1.44	1.83	1.59	1.49	1.89
Debt-free, Cash-free Net Working Capital to Revenue	26.44%	30.36%	1.14%	28.58%	27.26%	42.11%
Debt-free Net Working Capital to Revenue	177.97%	99.05%	56.49%	72.89%	56.04%	58.21%
Net Working Capital to Revenue	177.97%	99.05%	56.49%	13.67%	56.04%	58.21%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($0.38)	($0.18)	$1.27	$13.98	$3.93
Adjusted Weighted Average Basic Shares Outstanding	0.00	200.34M	206.86M	5.61M	5.62M	33.91M
Adjusted Diluted Earnings per Share	$0.00	($0.38)	($0.18)	$1.25	$13.13	$3.72
Adjusted Weighted Average Diluted Shares Outstanding	0.00	200.34M	206.86M	5.68M	5.98M	35.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	204.41M	208.27M	5.63M	5.64M	33.80M
Normalized Net Operating Profit after Tax (NOPAT)	-20	-48	-20	20	58	144
Normalized NOPAT Margin	-33.26%	-41.87%	-15.85%	12.83%	21.23%	32.09%
Pre Tax Income Margin	-55.05%	-65.42%	-30.28%	4.84%	24.83%	36.18%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-6.52	-10.81	-3.04	1.48	5.80	12.62
NOPAT to Interest Expense	-4.54	-7.56	-2.11	1.28	6.84	10.31
EBIT Less CapEx to Interest Expense	-6.69	-11.03	-3.15	1.40	5.70	12.43
NOPAT Less CapEx to Interest Expense	-4.71	-7.78	-2.22	1.19	6.74	10.11
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-9.56%	-3.53%	-1.00%	23.71%	30.08%	48.57%

This table displays calculated financial ratios and metrics derived from Sezzle's official financial filings.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	19.44%	34.32%	27.76%	35.49%	60.20%	71.28%	100.86%	123.32%	76.35%	66.95%	32.22%
EBITDA Growth	142.17%	-18.72%	70.55%	135.15%	212.45%	263.37%	273.39%	289.82%	113.88%	69.40%	77.10%
EBIT Growth	138.02%	-16.70%	74.58%	144.10%	228.82%	283.92%	288.78%	299.97%	115.96%	69.82%	77.29%
NOPAT Growth	138.97%	-18.49%	40.13%	144.95%	888.12%	245.91%	338.93%	191.08%	-16.53%	64.01%	61.91%
Net Income Growth	107.56%	-70.21%	363.39%	364.30%	2,505.94%	1,093.31%	763.04%	351.65%	-7.06%	72.67%	68.29%
EPS Growth	107.22%	1,050.00%	-46.32%	332.26%	2,365.00%	1,039.13%	731.37%	351.65%	-4.88%	70.45%	68.00%
Operating Cash Flow Growth	487.92%	-1,483.61%	-1,142.20%	1,047.62%	-167.09%	143.42%	106.47%	52.38%	-726.28%	479.61%	70.07%
Free Cash Flow Firm Growth	-1,376.85%	-72.42%	-195.27%	335.45%	31.15%	-899.42%	-8.64%	-709.05%	-763.79%	-20.46%	-97.29%
Invested Capital Growth	281.81%	0.00%	1,268.98%	63.48%	429.29%	0.00%	146.79%	366.10%	189.44%	132.19%	108.57%
Revenue Q/Q Growth	0.76%	16.91%	19.73%	0.00%	19.14%	24.99%	40.40%	6.81%	-5.92%	18.33%	11.19%
EBITDA Q/Q Growth	-0.17%	6.87%	44.27%	0.00%	32.64%	24.28%	48.25%	59.51%	-27.23%	-1.56%	55.00%
EBIT Q/Q Growth	-0.38%	7.06%	47.01%	0.00%	34.19%	25.00%	48.87%	60.15%	-27.54%	-1.71%	55.43%
NOPAT Q/Q Growth	-31.33%	42.96%	21.74%	0.00%	177.00%	-49.95%	54.48%	35.93%	-20.58%	-1.66%	52.50%
Net Income Q/Q Growth	-33.91%	13.57%	127.08%	0.00%	270.95%	-48.00%	64.23%	42.56%	-23.67%	-3.38%	60.07%
EPS Q/Q Growth	-35.48%	15.00%	121.74%	0.00%	267.91%	-46.86%	61.83%	42.56%	-22.00%	-3.85%	68.00%
Operating Cash Flow Q/Q Growth	260.77%	-300.76%	-14.17%	0.00%	-111.38%	229.94%	-82.99%	5,956.85%	-161.72%	191.14%	366.19%
Free Cash Flow Firm Q/Q Growth	-437.10%	149.07%	-685.64%	0.00%	-257.07%	-469.76%	20.41%	14.48%	-122.78%	20.56%	-30.36%
Invested Capital Q/Q Growth	-12.57%	-100.00%	0.00%	0.00%	183.07%	21.66%	67.74%	-19.31%	75.78%	-2.40%	50.67%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	65.60%	72.87%	76.07%	76.53%	77.24%	80.81%	85.16%	85.66%	88.17%	87.74%	89.39%
EBITDA Margin	15.68%	14.33%	17.27%	27.47%	30.58%	30.41%	32.11%	47.95%	37.09%	30.85%	43.01%
Operating Margin	10.77%	13.10%	15.68%	29.45%	29.84%	29.79%	31.43%	47.56%	36.56%	30.45%	42.54%
EBIT Margin	14.58%	13.35%	16.40%	26.57%	29.93%	29.93%	31.73%	47.58%	36.65%	30.44%	42.55%
Profit (Net Income) Margin	3.26%	3.17%	6.01%	17.04%	53.07%	22.08%	25.83%	34.47%	27.97%	22.84%	32.87%
Tax Burden Percent	98.23%	98.79%	83.91%	95.32%	218.74%	87.72%	91.48%	76.93%	84.49%	84.32%	82.77%
Interest Burden Percent	22.78%	24.03%	43.69%	67.30%	81.07%	84.10%	88.96%	94.16%	90.32%	88.97%	93.34%
Effective Tax Rate	1.77%	1.21%	16.09%	4.68%	-118.74%	12.28%	8.52%	23.07%	15.51%	15.68%	17.24%
Return on Invested Capital (ROIC)	617.35%	0.00%	84.76%	303.55%	379.39%	170.88%	97.50%	215.94%	105.77%	95.38%	90.30%
ROIC Less NNEP Spread (ROIC-NNEP)	661.11%	0.00%	47.05%	393.43%	5,409.12%	86.28%	86.00%	226.07%	89.95%	21.36%	83.81%
Return on Net Nonoperating Assets (RNNOA)	-470.31%	0.00%	28.20%	-104.79%	-22.06%	9.46%	39.09%	-63.82%	18.16%	0.88%	30.41%
Return on Equity (ROE)	147.04%	0.00%	112.95%	198.76%	357.34%	180.34%	136.60%	152.12%	123.93%	96.26%	120.71%
Cash Return on Invested Capital (CROIC)	37.31%	0.00%	-90.15%	131.35%	69.24%	26.59%	35.34%	84.35%	8.80%	33.07%	11.93%
Operating Return on Assets (OROA)	12.79%	0.00%	13.56%	26.12%	31.40%	26.25%	33.67%	63.42%	48.44%	41.12%	54.86%
Return on Assets (ROA)	2.86%	0.00%	4.97%	16.76%	55.67%	19.37%	27.40%	45.94%	36.96%	30.85%	42.38%
Return on Common Equity (ROCE)	147.04%	0.00%	112.95%	198.76%	357.34%	180.34%	136.60%	152.12%	123.93%	96.26%	120.71%
Return on Equity Simple (ROE_SIMPLE)	48.18%	0.00%	0.00%	45.18%	83.40%	91.75%	0.00%	84.83%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	3.70	5.28	6.43	13	37	18	28	38	30	30	46
NOPAT Margin	10.58%	12.94%	13.16%	28.07%	65.27%	26.13%	28.75%	36.59%	30.89%	25.67%	35.21%
Net Nonoperating Expense Percent (NNEP)	-43.76%	0.00%	37.70%	-89.88%	-5,029.73%	84.60%	11.50%	-10.14%	15.82%	74.01%	6.49%
Return On Investment Capital (ROIC_SIMPLE)	-	-	5.51%	-	-	-	14.72%	19.62%	11.69%	11.00%	14.76%
Cost of Revenue to Revenue	34.40%	27.13%	23.93%	23.47%	22.76%	19.19%	14.84%	14.34%	11.83%	12.26%	10.61%
SG&A Expenses to Revenue	4.86%	5.35%	3.90%	5.07%	4.51%	3.45%	4.16%	2.98%	3.90%	4.13%	3.83%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	54.83%	59.78%	60.39%	47.08%	47.41%	51.02%	53.73%	38.10%	51.60%	57.29%	46.85%
Earnings before Interest and Taxes (EBIT)	5.09	5.45	8.02	12	17	21	31	50	36	36	55
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	5.48	5.85	8.45	13	17	21	32	50	37	36	56
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.27	16.07	9.94	15.62	16.33	9.39	45.75	17.43	12.77
Price to Tangible Book Value (P/TBV)	0.00	0.00	5.77	17.27	10.40	16.23	16.80	9.58	46.75	17.78	13.02
Price to Revenue (P/Rev)	0.00	0.50	0.73	2.77	2.59	4.31	5.29	3.59	16.05	6.46	4.81
Price to Earnings (P/E)	0.00	15.54	16.42	35.57	11.92	17.03	18.27	11.07	57.05	23.37	16.28
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	6.43%	6.09%	2.81%	8.39%	5.87%	5.47%	9.03%	1.75%	4.28%	6.14%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	3.05	23.66	9.06	14.18	12.83	12.49	37.16	17.19	9.42
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.88	2.71	2.62	4.34	5.39	3.49	16.13	6.47	4.96
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	5.56	14.26	11.40	16.10	17.63	9.54	42.93	17.53	12.50
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	5.94	15.01	11.84	16.53	17.95	9.66	43.40	17.72	12.64
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	6.88	16.35	7.41	12.52	15.22	9.63	52.07	21.33	15.47
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	27.42	83.52	38.61	35.70	18.77	205.37	47.86	10.65
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	22.35	22.02	106.65	51.69	24.39	628.02	72.67	106.72
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.54	0.00	4.28	2.42	1.37	1.54	1.18	0.56	1.00	0.76	0.82
Long-Term Debt to Equity	3.54	0.00	0.01	2.42	1.37	1.54	1.18	0.56	1.00	0.76	0.82
Financial Leverage	-0.71	0.00	0.60	-0.27	0.00	0.11	0.45	-0.28	0.20	0.04	0.36
Leverage Ratio	19.20	0.00	12.45	8.07	5.52	4.14	4.65	3.18	3.11	2.86	2.71
Compound Leverage Factor	4.37	0.00	5.44	5.43	4.47	3.48	4.14	2.99	2.81	2.55	2.53
Debt to Total Capital	77.97%	0.00%	81.07%	70.77%	57.80%	60.58%	54.21%	35.72%	50.02%	43.04%	45.19%
Short-Term Debt to Total Capital	0.00%	0.00%	80.86%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	77.97%	0.00%	0.21%	70.77%	57.80%	60.58%	54.21%	35.72%	50.02%	43.04%	45.19%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	22.03%	0.00%	18.93%	29.23%	42.20%	39.42%	45.79%	64.28%	49.98%	56.96%	54.81%
Debt to EBITDA	2.49	0.00	3.75	2.19	1.55	1.57	1.26	0.58	0.93	0.76	0.78
Net Debt to EBITDA	-0.25	0.00	0.95	-0.30	0.12	0.11	0.31	-0.28	0.22	0.01	0.38
Long-Term Debt to EBITDA	2.49	0.00	0.01	2.19	1.55	1.57	1.26	0.58	0.93	0.76	0.78
Debt to NOPAT	2.84	0.00	4.63	2.52	1.01	1.22	1.08	0.59	1.13	0.92	0.97
Net Debt to NOPAT	-0.28	0.00	1.17	-0.35	0.08	0.09	0.27	-0.28	0.27	0.02	0.47
Long-Term Debt to NOPAT	2.84	0.00	0.01	2.52	1.01	1.22	1.08	0.59	1.13	0.92	0.97
Altman Z-Score	0.00	0.00	0.33	2.34	2.75	4.15	5.53	6.18	18.24	9.83	8.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.94	0.00	1.12	2.06	2.07	2.40	2.44	2.62	3.51	3.52	3.92
Quick Ratio	1.88	0.00	1.13	2.06	2.07	2.43	2.53	2.55	3.39	3.52	3.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-13	6.20	-36	5.54	-8.70	-50	-39	-34	-75	-60	-78
Operating Cash Flow to CapEx	1,566.07%	-4,410.98%	-4,579.46%	11,354.23%	-1,012.46%	2,010.64%	239.37%	19,102.92%	-3,560.29%	4,270.45%	26,062.33%
Free Cash Flow to Firm to Interest Expense	-3.21	1.50	-8.04	1.36	-2.74	-14.89	-11.46	-11.58	-21.46	-15.22	-21.13
Operating Cash Flow to Interest Expense	1.67	-3.17	-3.33	9.46	-1.39	1.72	0.28	20.19	-10.37	8.44	41.89
Operating Cash Flow Less CapEx to Interest Expense	1.56	-3.25	-3.40	9.38	-1.52	1.63	0.16	20.09	-10.66	8.24	41.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.88	0.00	0.83	0.98	1.05	0.88	1.06	1.33	1.32	1.35	1.29
Accounts Receivable Turnover	57.65	0.00	77.65	107.15	129.29	58.01	104.26	143.72	147.28	74.45	91.75
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	408.92	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.60	0.00	0.59	0.66	0.67	0.69	0.72	0.80	0.83	0.87	0.87
Days Sales Outstanding (DSO)	6.33	0.00	4.70	3.41	2.82	6.29	3.50	2.54	2.48	4.90	3.98
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	604.55	0.00	618.47	553.60	543.74	525.97	504.51	455.08	439.24	420.84	417.23
Cash Conversion Cycle (CCC)	-598.22	0.00	-613.77	-550.19	-540.92	-519.68	-501.01	-452.54	-436.77	-415.94	-413.25
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	11	0.00	46	20	56	68	114	92	161	158	237
Invested Capital Turnover	58.35	0.00	6.44	10.81	5.81	6.54	3.39	5.90	3.42	3.72	2.56
Increase / (Decrease) in Invested Capital	16	-0.91	43	7.65	45	68	68	72	106	90	124
Enterprise Value (EV)	0.00	0.00	141	466	505	962	1,460	1,147	5,998	2,708	2,235
Market Capitalization	0.00	75	117	476	500	955	1,434	1,181	5,967	2,706	2,168
Book Value per Share	$2.90	$0.00	$3.89	$5.26	$8.87	$10.92	$15.67	$22.29	$3.92	$4.56	$4.97
Tangible Book Value per Share	$2.60	$0.00	$3.56	$4.89	$8.49	$10.51	$15.23	$21.86	$3.83	$4.47	$4.87
Total Capital	74	0.00	117	101	119	155	192	196	261	273	310
Total Debt	58	0.00	95	72	69	94	104	70	131	117	140
Total Long-Term Debt	58	0.00	0.25	72	69	94	104	70	131	117	140
Net Debt	-5.74	0.00	24	-9.91	5.47	6.70	26	-34	31	2.25	68
Capital Expenditures (CapEx)	0.42	0.30	0.33	0.34	0.43	0.28	0.41	0.31	1.02	0.78	0.59
Debt-free, Cash-free Net Working Capital (DFCFNWC)	11	0.00	46	17	35	48	74	61	123	121	190
Debt-free Net Working Capital (DFNWC)	74	0.00	116	99	99	136	152	164	223	236	262
Net Working Capital (NWC)	74	0.00	22	99	99	136	152	164	223	236	262
Net Nonoperating Expense (NNE)	2.56	3.99	3.49	5.18	6.83	2.83	2.87	2.22	2.88	3.31	3.03
Net Nonoperating Obligations (NNO)	-5.74	0.00	24	-9.91	5.47	6.70	26	-34	31	2.25	68
Total Depreciation and Amortization (D&A)	0.38	0.40	0.43	0.42	0.37	0.34	0.37	0.38	0.43	0.48	0.59
Debt-free, Cash-free Net Working Capital to Revenue	7.69%	0.00%	28.58%	9.98%	18.22%	21.78%	27.26%	18.39%	33.13%	28.84%	42.11%
Debt-free Net Working Capital to Revenue	53.52%	0.00%	72.89%	57.52%	51.13%	61.11%	56.04%	49.94%	59.89%	56.32%	58.21%
Net Working Capital to Revenue	53.52%	0.00%	13.67%	57.52%	51.13%	61.11%	56.04%	49.94%	59.89%	56.32%	58.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.20	$0.00	$0.53	$1.41	$5.25	$2.79	$4.53	$1.07	$0.82	$0.78	$1.26
Adjusted Weighted Average Basic Shares Outstanding	5.58M	0.00	5.61M	5.66M	5.66M	5.55M	5.62M	33.85M	33.73M	34.05M	33.91M
Adjusted Diluted Earnings per Share	$0.20	$0.00	$0.51	$1.34	$4.93	$2.62	$4.24	$1.00	$0.78	$0.75	$1.26
Adjusted Weighted Average Diluted Shares Outstanding	5.66M	0.00	5.68M	5.96M	6.02M	5.91M	5.98M	36.17M	35.51M	35.68M	35.74M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.26
Adjusted Weighted Average Basic & Diluted Shares Outstanding	5.68M	0.00	5.63M	5.67M	5.60M	5.61M	5.64M	33.29M	34.02M	34.15M	33.80M
Normalized Net Operating Profit after Tax (NOPAT)	3.70	5.28	6.43	13	12	18	28	38	30	30	46
Normalized NOPAT Margin	10.58%	12.94%	13.16%	28.07%	20.89%	26.13%	28.75%	36.59%	30.89%	25.67%	35.21%
Pre Tax Income Margin	3.32%	3.21%	7.16%	17.88%	24.26%	25.17%	28.23%	44.81%	33.10%	27.08%	39.72%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.30	1.32	1.78	3.06	5.28	6.29	9.06	17.13	10.33	9.06	15.01
NOPAT to Interest Expense	0.94	1.28	1.43	3.23	11.52	5.49	8.21	13.17	8.71	7.64	12.42
EBIT Less CapEx to Interest Expense	1.19	1.24	1.70	2.97	5.15	6.21	8.94	17.03	10.04	8.87	14.84
NOPAT Less CapEx to Interest Expense	0.83	1.20	1.35	3.15	11.38	5.41	8.09	13.07	8.42	7.45	12.25
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	17.36%	35.01%	23.71%	40.73%	35.10%	39.58%	30.08%	20.87%	38.19%	31.16%	48.57%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Sezzle's recent quarterly results, focusing on the last four years of data (through Q4 2025). Bullets are sorted with positives first, then neutral items, then negatives.

Revenue in Q4 2025 rose to $129.869 million, up from $98.223 million in Q4 2024 (roughly 32% YoY growth).
Gross margin remained strong in Q4 2025, at about 89% (gross profit $116.093 million on $129.869 million of revenue), an improvement versus the mid‑80s% range seen in 2024.
Net income attributable to common shareholders reached $42.691 million in Q4 2025, up from $25.367 million in Q4 2024.
Net cash from operating activities was robust in Q4 2025, at $154.289 million, signaling solid cash generation from operations.
Diluted earnings per share (EPS) stood at $1.26 in Q4 2025, reflecting improving profitability.
Debt financing activity: Issuance of debt of $75.06 million in Q4 2025 to support growth, with net financing cash flow mildly negative, suggesting leverage to fund expansion.
Balance‑sheet trajectory shows total assets near $367.0 million and total equity around $155.3 million by mid‑2025, indicating growth with a tenant level of leverage.
Other Operating Expenses / (Income) in Q4 2025 totaled $46.574 million, a sizable drag on operating income despite strong gross margins.
Net cash from investing activities in Q4 2025 was −$179.466 million, reflecting substantial cash use for investments/capex and related activities.
In Q2 2025, net cash from continuing operating activities was negative (about −$36.315 million), signaling working capital or timing headwinds during that quarter.

05/07/26 06:48 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Sezzle's Financials

When does Sezzle's fiscal year end?

According to the most recent income statement we have on file, Sezzle's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

How has Sezzle's net income changed over the last 5 years?

Sezzle's net income appears to be on an upward trend, with a most recent value of $133.13 million in 2025, falling from -$32.39 million in 2020. The previous period was $78.52 million in 2024. See Sezzle's forecast for analyst expectations on whatâ€™s next for the company.

What is Sezzle's operating income?

Sezzle's total operating income in 2025 was $176.79 million, based on the following breakdown:

Total Gross Profit: $395.45 million
Total Operating Expenses: $218.67 million

How has Sezzle's revenue changed over the last 5 years?

Over the last 5 years, Sezzle's total revenue changed from $58.79 million in 2020 to $450.28 million in 2025, a change of 665.9%.

How much debt does Sezzle have?

Sezzle's total liabilities were at $230.42 million at the end of 2025, a 9.4% increase from 2024, and a 101.9% increase since 2020.

How much cash does Sezzle have?

In the past 5 years, Sezzle's cash and equivalents has ranged from $64.05 million in 2025 to $84.29 million in 2020, and is currently $64.05 million as of their latest financial filing in 2025.

How has Sezzle's book value per share changed over the last 5 years?

Over the last 5 years, Sezzle's book value per share changed from 0.32 in 2020 to 4.97 in 2025, a change of 1,449.4%.

Related Companies

Financial statements for NASDAQ:SEZL last updated on 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Sezzle (SEZL) Financials

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Sezzle (SEZL) Financials

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