A Business at a Glance
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Unless otherwise noted, references in this Form 10-K to “we,” “us,” “our,” “Company,” or “Sezzle” refer collectively to Sezzle Inc. and our subsidiaries. Our Company We are a purpose-driven payments company on a mission to financially empower the next generation. Launched in 2017, we have built a digital shopping and payments platform that provides consumers a flexible alternative to traditional credit. Through our products, we aim to give consumers control of their spending, ways to save money, and access to responsible credit. Our vision is to create a digital ecosystem benefiting all of our stakeholders—including merchants, consumers, employees, communities, and investors—while continuing to drive ethical and sustainable growth. We launched Sezzle amid a backdrop during which digital shopping began to claim a larger share of the retail sector and younger generations (i.e., Gen Z and Millennials) started demonstrating a need for credit.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 450M | 450M | 271M | 159M | 126M | 115M |
| Net Income | 133M | 133M | 79M | 7.1M | -38M | -75M |
| EPS | $0.00 | - | - | - | - | $-2.22 |
| Free Cash Flow | 209M | 209M | 131M | -26M | 8.5M | -73M |
| ROIC | 37.4% | 61.3% | 54.7% | 92.5% | -52.5% | -65.1% |
| Gross Margin | 46.4% | 46.4% | 40.0% | 70.9% | 59.2% | 50.5% |
| Debt/Equity | 1.65 | 1.65 | 2.38 | 4.33 | 7.22 | 4.12 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 177M | 177M | 82M | 22M | -28M | -69M |
| Operating Margin | 39.3% | 39.3% | 30.3% | 13.9% | -22.6% | -59.8% |
| ROE | 78.4% | 103.3% | 89.4% | 32.1% | -430.8% | -198.9% |
| Shares Outstanding | 0M | - | - | - | - | 34M |
| Metric | 2020 | 2021 | 2022 | 2023 | TTM | ||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 59M | 115M | 126M | 159M | 271M | 450M | 450M |
| Gross Margin | 47.8% | 50.5% | 59.2% | 70.9% | 40.0% | 46.4% | 46.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 7.2M | 16M | 16M | 8.6M | 11M | 17M | 17M |
| EBIT | -28M | -69M | -28M | 22M | 82M | 177M | 177M |
| Op. Margin | -47.5% | -59.8% | -22.6% | 13.9% | 30.3% | 39.3% | 39.3% |
| Net Income | -32M | -75M | -38M | 7.1M | 79M | 133M | 133M |
| Net Margin | -55.1% | -65.5% | -30.3% | 4.5% | 29.0% | 29.6% | 29.6% |
| Non-Recurring | 8K | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | -32.5% | -65.1% | -52.5% | 92.5% | 54.7% | 61.3% | 37.4% |
| ROE | -54.0% | -198.9% | -430.8% | 32.1% | 89.4% | 103.3% | 78.4% |
| ROA | -18.6% | -33.6% | -22.1% | 3.3% | 26.3% | 38.1% | 33.3% |
| Cash Flow | |||||||
| Op. Cash Flow | -25M | -72M | 8.5M | -26M | 131M | 210M | 210M |
| Free Cash Flow | -25M | -73M | 8.5M | -26M | 131M | 209M | 209M |
| Owner Earnings | -32M | -87M | -2.6M | -33M | 124M | 202M | 202M |
| CapEx | 411K | 686K | 52K | 82K | 70K | 655K | 655K |
| Maint. CapEx | 428K | 749K | 847K | 856K | 965K | 1.4M | 1.4M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 428K | 749K | 847K | 856K | 965K | 1.4M | 1.4M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 0.1% | 0.3% | 0.3% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 611K | 2.7M | 381K | 1.7M | 24M | 65M | 65M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 7.0M | 14M | 10M | 6.9M | 5.2M | 6.5M | 6.5M |
| Debt Repayment | 0 | 1.7M | 1.3M | 129K | 1.1M | 792K | 792K |
| Balance Sheet | |||||||
| Net Debt | -89M | 1.7M | -73M | -40M | 62M | 153M | 217M |
| Cash & Equiv. | 84M | 77M | 68M | 68M | 73M | 64M | 64M |
| Long-Term Debt | 40M | 78M | 64M | 250K | 104M | 140M | 140M |
| Debt/Equity | 1.33 | 4.12 | 7.22 | 4.33 | 2.38 | 1.65 | 1.65 |
| Interest Coverage | -6.5 | -13.0 | -3.3 | 1.4 | 6.0 | 12.6 | 12.6 |
| Equity | 60M | 38M | 8.8M | 22M | 88M | 170M | 170M |
| Total Assets | 174M | 223M | 173M | 213M | 298M | 400M | 400M |
| Total Liabilities | 114M | 186M | 164M | 191M | 211M | 230M | 230M |
| Intangibles | 537K | 911K | 1.3M | 1.9M | 2.4M | 3.3M | 3.3M |
| Retained Earnings | -52M | -127M | -165M | -158M | -90M | -324K | -324K |
| Working Capital | 105M | 114M | 71M | 22M | 152M | 262M | 262M |
| Current Assets | 173M | 221M | 170M | 209M | 258M | 352M | 352M |
| Current Liabilities | 68M | 108M | 99M | 187M | 106M | 90M | 90M |
| Per Share Data | |||||||
| EPS | -0.96 | -2.22 | N/A | N/A | N/A | N/A | 0.00 |
| Owner EPS | -0.96 | -2.57 | N/A | N/A | N/A | N/A | N/A |
| Book Value | 1.78 | 1.11 | 0.27 | 0.65 | 2.45 | 4.74 | 0.00 |
| Cash Flow/Share | -0.74 | -2.13 | 0.26 | -0.75 | 3.64 | 5.87 | 0.00 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 33.6M | 33.9M | N/A | N/A | N/A | N/A | 0.0M |
| Valuation | |||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 1.2 |
| Price/Book | N/A | N/A | N/A | 5.0 | 18.0 | 14.9 | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Market Cap | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| Avg. Price | N/A | N/A | N/A | 2.18 | 21.44 | 78.82 | 68.00 |
| Year-End Price | N/A | N/A | N/A | 3.25 | 44.18 | 70.50 | 68.00 |
Sezzle Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 18.2% with a gross margin of 53.4%.
Sezzle Inc. (SEZL) has a 5-year average return on invested capital (ROIC) of 18.2%. This indicates strong capital allocation and a potential competitive advantage.
Sezzle Inc. (SEZL) does not currently pay a regular dividend.
Sezzle Inc. (SEZL) operates in the Services-Business Services, Nec industry, within the Industrials sector.
Sezzle Inc. (SEZL) reported annual revenue of $450 million in its most recent fiscal year, based on SEC EDGAR filings.
Sezzle Inc. (SEZL) has a net profit margin of 29.6%. This is a strong margin indicating high profitability.
Sezzle Inc. (SEZL) generated $209 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Sezzle Inc. (SEZL) has a debt-to-equity ratio of 1.65. This indicates higher leverage, which may increase financial risk.
Sezzle Inc. (SEZL) has a return on equity (ROE) of 103.3%. This indicates the company generates strong returns for shareholders.
Sezzle Inc. (SEZL) has a 5-year average gross margin of 53.4%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 6 years of financial data for Sezzle Inc. (SEZL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Sezzle Inc. (SEZL) has a book value per share of $4.74, based on its most recent annual SEC filing.