Sezzle Inc. Financials
This page shows Sezzle Inc. (SEZL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Sezzle’s earnings model shifted from cash-burning growth to self-funded scaling as profits and cash flow outran revenue.
FY2023 exposed the old model: positive earnings but negative operating cash flow, meaning growth was not yet paying for itself. By the latest year, cash conversion quality had flipped, with operating cash flow of$209.9M exceeding net income of$133.1M , so the improvement now reflects actual cash generation rather than a cleaner income statement alone.
What changed operationally is cost absorption, not just faster sales: revenue rose
The balance-sheet posture also looks materially healthier, with current ratio improving from 1.1x to 3.9x over the last two years. Because the old accumulated deficit has been largely worked off, recent earnings are now rebuilding equity instead of merely filling a hole created in earlier loss years, which changes how resilient the balance sheet looks.
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Sezzle Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Sezzle Inc. has an operating margin of 39.3%, meaning the company retains $39 of operating profit per $100 of revenue. This strong profitability earns a score of 92/100, reflecting efficient cost management and pricing power. This is up from 30.3% the prior year.
Sezzle Inc.'s revenue surged 66.1% year-over-year to $450.3M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Sezzle Inc. carries a low D/E ratio of 1.36, meaning only $1.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 74/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.92, Sezzle Inc. holds $3.92 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 77/100.
Sezzle Inc. converts 46.5% of revenue into free cash flow ($209.3M). This strong cash generation earns a score of 100/100.
Sezzle Inc. earns a strong 78.4% return on equity (ROE), meaning it generates $78 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 89.4% the prior year.
Sezzle Inc. scores 12.43, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.5B) relative to total liabilities ($230.4M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Sezzle Inc. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Sezzle Inc. generates $1.58 in operating cash flow ($209.9M OCF vs $133.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Sezzle Inc. earns $12.6 in operating income for every $1 of interest expense ($176.8M vs $14.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Sezzle Inc. generated $450.3M in revenue in fiscal year 2025. This represents an increase of 66.1% from the prior year.
Sezzle Inc.'s EBITDA was $178.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 114.1% from the prior year.
Sezzle Inc. reported $133.1M in net income in fiscal year 2025. This represents an increase of 69.5% from the prior year.
Sezzle Inc. earned $3.72 per diluted share (EPS) in fiscal year 2025. This represents an increase of 69.9% from the prior year.
Cash & Balance Sheet
Sezzle Inc. generated $209.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 60.3% from the prior year.
Sezzle Inc. held $64.1M in cash against $0 in long-term debt as of fiscal year 2025.
Sezzle Inc. had 34M shares outstanding in fiscal year 2025. This represents an increase of 0.2% from the prior year.
Margins & Returns
Sezzle Inc.'s operating margin was 39.3% in fiscal year 2025, reflecting core business profitability. This is up 8.9 percentage points from the prior year.
Sezzle Inc.'s net profit margin was 29.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.6 percentage points from the prior year.
Sezzle Inc.'s ROE was 78.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 11.0 percentage points from the prior year.
Capital Allocation
Sezzle Inc. spent $64.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 173.7% from the prior year.
Sezzle Inc. invested $655K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 835.7% from the prior year.
SEZL Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $135.5M+4.4% | $129.9M+11.2% | $116.8M+18.3% | $98.7M-5.9% | $104.9M+6.8% | $98.2M+40.4% | $70.0M+25.0% | $56.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $4.0M-20.0% | $5.0M+3.1% | $4.8M+25.4% | $3.8M+22.8% | $3.1M-23.4% | $4.1M+69.0% | $2.4M-4.2% | $2.5M |
| Operating Income | $69.0M+25.0% | $55.2M+55.4% | $35.6M-1.5% | $36.1M-27.7% | $49.9M+61.6% | $30.9M+48.1% | $20.8M+24.8% | $16.7M |
| Interest Expense | $3.0M-18.1% | $3.7M-6.1% | $3.9M+12.1% | $3.5M+20.1% | $2.9M-15.3% | $3.4M+3.4% | $3.3M+14.3% | $2.9M |
| Income Tax | $14.7M+65.2% | $8.9M+79.2% | $5.0M-2.1% | $5.1M-53.3% | $10.8M+359.0% | $2.4M+9.2% | $2.2M+113.4% | -$16.1M |
| Net Income | $51.3M+20.2% | $42.7M+60.1% | $26.7M-3.4% | $27.6M-23.7% | $36.2M+42.6% | $25.4M+64.2% | $15.4M-48.0% | $29.7M |
| EPS (Diluted) | $1.47 | N/A | $0.75-3.8% | $0.78 | $1.00 | N/A | $0.44-46.3% | $0.82 |
SEZL Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $454.3M+13.5% | $400.2M+9.1% | $367.0M+4.7% | $350.6M+17.6% | $298.1M-0.1% | $298.4M+18.0% | $252.9M+19.2% | $212.1M |
| Current Assets | $411.2M+16.9% | $351.9M+6.8% | $329.5M+5.8% | $311.5M+17.1% | $265.9M+3.2% | $257.6M+10.8% | $232.4M+22.0% | $190.5M |
| Cash & Equivalents | $120.4M+88.0% | $64.1M-38.5% | $104.1M+17.1% | $88.9M+0.1% | $88.9M+21.5% | $73.2M-8.6% | $80.1M+38.0% | $58.0M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $257.6M+11.8% | $230.4M+8.8% | $211.7M-3.8% | $220.2M+27.8% | $172.3M-18.2% | $210.5M+9.8% | $191.7M+18.5% | $161.8M |
| Current Liabilities | $112.6M+25.4% | $89.8M-4.2% | $93.7M+5.4% | $88.9M-12.5% | $101.6M-3.9% | $105.7M+9.1% | $96.9M+5.4% | $91.9M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $196.7M+15.8% | $169.8M+9.4% | $155.3M+19.1% | $130.4M+3.7% | $125.8M+43.2% | $87.8M+43.7% | $61.1M+21.6% | $50.3M |
| Retained Earnings | $28.3M+8826.2% | -$324K+98.3% | -$19.2M+58.2% | -$45.8M+14.5% | -$53.6M+40.3% | -$89.8M+22.0% | -$115.1M+8.6% | -$126.0M |
SEZL Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $89.0M+26.0% | $70.6M+10.8% | $63.7M+176.4% | $23.1M-56.1% | $52.5M-8.6% | $57.4M+63.7% | $35.1M+58.1% | $22.2M |
| Capital Expenditures | $351K+475.4% | $61K-62.6% | $163K-59.7% | $404K+1396.3% | $27K-20.6% | $34K+240.0% | $10K-58.3% | $24K |
| Free Cash Flow | $88.6M+25.6% | $70.6M+11.0% | $63.6M+180.6% | $22.7M-56.8% | $52.5M-8.6% | $57.4M+63.6% | $35.1M+58.2% | $22.2M |
| Investing Cash Flow | -$22.5M+76.5% | -$95.8M-205.0% | -$31.4M+48.0% | -$60.4M-1098.2% | $6.0M+110.6% | -$56.8M-91.7% | -$29.6M-9.7% | -$27.0M |
| Financing Cash Flow | -$21.5M-189.1% | -$7.4M+56.7% | -$17.2M-148.6% | $35.3M+197.8% | -$36.1M-433.0% | $10.8M-42.4% | $18.8M+241.8% | -$13.3M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $25.7M-14.3% | $30.0M+656.9% | $4.0M-85.9% | $28.2M+1054.6% | $2.4M+68.2% | $1.5M-81.4% | $7.8M-25.9% | $10.6M |
SEZL Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 50.9%+8.4pp | 42.5%+12.1pp | 30.4%-6.1pp | 36.6%-11.0pp | 47.6%+16.1pp | 31.4%+1.6pp | 29.8%-0.1pp | 29.8% |
| Net Margin | 37.9%+5.0pp | 32.9%+10.0pp | 22.8%-5.1pp | 28.0%-6.5pp | 34.5%+8.6pp | 25.8%+3.7pp | 22.1%-31.0pp | 53.1% |
| Return on Equity | 26.1%+0.9pp | 25.1%+8.0pp | 17.2%-4.0pp | 21.2%-7.6pp | 28.8%-0.1pp | 28.9%+3.6pp | 25.3%-33.8pp | 59.1% |
| Return on Assets | 11.3%+0.6pp | 10.7%+3.4pp | 7.3%-0.6pp | 7.9%-4.3pp | 12.1%+3.6pp | 8.5%+2.4pp | 6.1%-7.9pp | 14.0% |
| Current Ratio | 3.65-0.3 | 3.92+0.4 | 3.52+0.0 | 3.51+0.9 | 2.62+0.2 | 2.44+0.0 | 2.40+0.3 | 2.07 |
| Debt-to-Equity | 1.31-0.0 | 1.360.0 | 1.36-0.3 | 1.69+0.3 | 1.37-1.0 | 2.40-0.7 | 3.14-0.1 | 3.22 |
| FCF Margin | 65.4%+11.1pp | 54.3%-0.1pp | 54.4%+31.5pp | 22.9%-27.0pp | 50.0%-8.4pp | 58.4%+8.3pp | 50.1%+10.5pp | 39.6% |
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Frequently Asked Questions
What is Sezzle Inc.'s annual revenue?
Sezzle Inc. (SEZL) reported $450.3M in total revenue for fiscal year 2025. This represents a 66.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Sezzle Inc.'s revenue growing?
Sezzle Inc. (SEZL) revenue grew by 66.1% year-over-year, from $271.1M to $450.3M in fiscal year 2025.
Is Sezzle Inc. profitable?
Yes, Sezzle Inc. (SEZL) reported a net income of $133.1M in fiscal year 2025, with a net profit margin of 29.6%.
What is Sezzle Inc.'s EBITDA?
Sezzle Inc. (SEZL) had EBITDA of $178.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Sezzle Inc.'s operating margin?
Sezzle Inc. (SEZL) had an operating margin of 39.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Sezzle Inc.'s net profit margin?
Sezzle Inc. (SEZL) had a net profit margin of 29.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Sezzle Inc.'s return on equity (ROE)?
Sezzle Inc. (SEZL) has a return on equity of 78.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sezzle Inc.'s free cash flow?
Sezzle Inc. (SEZL) generated $209.3M in free cash flow during fiscal year 2025. This represents a 60.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Sezzle Inc.'s operating cash flow?
Sezzle Inc. (SEZL) generated $209.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sezzle Inc.'s total assets?
Sezzle Inc. (SEZL) had $400.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Sezzle Inc.'s capital expenditures?
Sezzle Inc. (SEZL) invested $655K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Sezzle Inc.'s current ratio?
Sezzle Inc. (SEZL) had a current ratio of 3.92 as of fiscal year 2025, which is generally considered healthy.
What is Sezzle Inc.'s debt-to-equity ratio?
Sezzle Inc. (SEZL) had a debt-to-equity ratio of 1.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sezzle Inc.'s return on assets (ROA)?
Sezzle Inc. (SEZL) had a return on assets of 33.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sezzle Inc.'s Altman Z-Score?
Sezzle Inc. (SEZL) has an Altman Z-Score of 12.43, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Sezzle Inc.'s Piotroski F-Score?
Sezzle Inc. (SEZL) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Sezzle Inc.'s earnings high quality?
Sezzle Inc. (SEZL) has an earnings quality ratio of 1.58x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Sezzle Inc. cover its interest payments?
Sezzle Inc. (SEZL) has an interest coverage ratio of 12.6x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Sezzle Inc.?
Sezzle Inc. (SEZL) scores 91 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.