Sezzle Reports Fourth Quarter and Fiscal Year 2025 Results
MINNEAPOLIS, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Sezzle Inc. (NASDAQ:SEZL) (Sezzle or Company) // Purpose-driven digital payment platform, Sezzle, is pleased to update the market on key financial metrics for the quarter and year ended December 31, 2025.
“Our tenth year as a company was our most transformative yet, as we achieved new highs in our top and bottom-line results while advancing our shopping ecosystem," stated Charlie Youakim, Sezzle Executive Chairman and CEO. "By prioritizing higher LTV subscribers and scaling our proprietary shopping features, we have created a platform that delivers daily utility to our consumers. This momentum is clear in our performance: Monthly On-Demand and Subscribers reached a record 918,000 and app sessions surged 51% year-over-year by December. As we enter 2026, we are positioned to sustain this quality of earnings, guiding to Adjusted Net Income of $170 million, representing a 31% year-over-year increase in Adjusted Net Income per Diluted Share."
Fourth Quarter 2025 Highlights
Full Year 2025 Highlights
Balance Sheet and Liquidity
Guidance 8, 9
Initiatives Update
Awards and Accolades
Chief Financial Officer Transition
Upcoming Investor Events
Quarterly Conference Call and Presentation
The Company will host its fourth quarter earnings conference call on February 25, 2026, at 5:00pm ET.
To register for the call, please navigate to: https://dpregister.com/sreg/10206440/10341e70e10
All participants can access the webcast using the following link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=WpZCVlkA
Upon registration, participants will receive the dial-in number. Those without internet access or unable to pre-register may dial in by calling: 1-866-777-2509 (US/CA toll free) or 1-412-317-5413 (international toll). A replay will be available until March 4, 2026. To access the replay dial 1-855-669-9658 (US toll free) or 1-412-317-0088 (International toll). Replay access code: 1508112.
In conjunction with the earnings call, the Company will release its presentation on the Sezzle Investor Relations website before the call. Please navigate to the Sezzle Investor Relations website for the presentation that management will review on the call.
4Q25 GAAP Operating Results
4Q25 Non-GAAP Operating Results 12
FY25 GAAP Operating Results
(1) Effective March 28, 2025, we performed a 6-for-1 stock split of the Company’s common stock, effected through a stock dividend. Share and per-share amounts have been retroactively adjusted.
FY25 Non-GAAP Operating Results 13
(1) Effective March 28, 2025, we performed a 6-for-1 stock split of the Company’s common stock, effected through a stock dividend. Share and per-share amounts have been retroactively adjusted.
Appendix - Reconciliation of GAAP to Non-GAAP Financial Measures
Reconciliation of Operating Expenses to Non-transaction Related Operating Expenses
Reconciliation of Operating Expenses to Transaction Related Costs
Reconciliation of Operating Income to Total Revenue Less Transaction Related Costs
Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted Net Income and Adjusted Net Income per Diluted Share
(1) Adjusted prior periods to include the windfall/shortfall to income tax expense for equity-based compensation.
(2) Effective March 28, 2025, we performed a 6-for-1 stock split of the Company’s common stock, effected through a stock dividend. Share and per-share amounts have been retroactively adjusted.
Investors should be aware that generally accepted accounting principles prescribe when a company may reserve for particular risks, including litigation exposures. Accordingly, results for a given reporting period could be significantly affected if and when we establish reserves for one or more contingencies. Also, our regular reserve reviews may result in adjustments of varying magnitude as additional information regarding claims activity becomes known. Reported results, therefore, may be volatile in certain accounting periods.
Contact Information
About Sezzle Inc.
Sezzle is a forward-thinking fintech company committed to financially empowering the next generation. Through its purpose-driven payment platform, Sezzle enhances consumers' purchasing power by offering access to point-of-sale financing options and digital payment services—connecting millions of customers with its global network of merchants. Centered on transparency, inclusivity, and ease of use, Sezzle empowers consumers to manage spending responsibly, take charge of their finances, and achieve lasting financial independence.
For more information visit sezzle.com.
Consolidated Balance Sheets
Consolidated Statements of Operations and Comprehensive Income
Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows (continued)
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We have based these forward-looking statements largely on our management’s current expectations and projections about future events and financial trends affecting the financial condition of our business.
Forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "may," "will," "believe," "estimate," "forecast," "goal," "project," other words or expressions of similar meaning (or the negative versions of such words or expressions). These forward-looking statements address various matters including the timing and nature of anticipated new products, our business strategy, future operations, financial performance or other future events. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Applicable risks and uncertainties include, among others: impact of the “buy-now, pay-later” (“BNPL”) industry becoming subject to increased regulatory scrutiny; impact of operating in a highly competitive industry; impact of macro-economic conditions on consumer spending; our ability to increase our merchant network, our base of consumers, and gross merchandise value (GMV); our ability to effectively manage growth, sustain our growth rate and maintain our market share; our ability to maintain adequate access to capital in order to meet the capital requirements of our business; impact of exposure to consumer bad debts and insolvency of merchants; our ability to comply with the applicable requirements of Visa and other payment processors; impact of the integration, support and prominent presentation of our platform by our merchants; impact of any data security breaches, cyberattacks, employee or other internal misconduct, malware, phishing or ransomware, physical security breaches, natural disasters, or similar disruptions; impact of key vendors or merchants failing to comply with legal or regulatory requirements or to provide various services that are important to our operations; our ability to protect our intellectual property rights and third party allegations of the misappropriation of intellectual property rights; impact of the costs of complying with various laws and regulations applicable to the BNPL industry in the United States and Canada; the impact of litigation, regulatory investigations and actions, and compliance issues on our business; significant and sudden declines or volatility in the trading price of our common stock and market capitalization; and other factors identified in the “Risk Factors” section of our most recent Annual Report on Form 10-K (the “Annual Report”) and the Company’s subsequent filings filed with the SEC. Investors should not place undue reliance on forward-looking statements contained in this press release, including any accompanying attachments or oral forward-looking statements that we or persons acting on our behalf may issue, which, except as otherwise noted, speak only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise any forward-looking statements contained in this press release, any accompanying materials, or oral forward-looking statements made in connection with this press release.
Non-GAAP Financial Measures
To supplement our operating results prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), we present the following non-GAAP financial measures: Total revenue less transaction related costs; transaction related costs; non-transaction related operating expenses; adjusted net income; adjusted net income margin; adjusted net income per diluted share; adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”); and Adjusted EBITDA margin. Definitions of these non-GAAP financial measures and summaries of the reasons why management believes that the presentation of these non-GAAP financial measures provide useful information to the Company and investors are as follows:
Additionally, we have included these non-GAAP measures because they are key measures used by our management to evaluate our operating performance, guide future operating plans, and make strategic decisions, including those relating to operating expenses and the allocation of resources. Therefore, we believe these measures provide useful information to investors and other users of this press release to understand and evaluate our operating results in the same manner as our management and board of directors. However, non-GAAP financial measures have limitations, should be considered supplemental in nature, and are not meant as a substitute for the related financial information prepared in accordance with U.S. GAAP. These limitations include the following:
Because of these limitations, you should not consider these non-GAAP financial measures in isolation or as substitutes for analysis of our financial results as reported under GAAP, and these non-GAAP financial measures should be considered alongside other financial performance measures, including net income and other financial results presented in accordance with GAAP. We encourage you to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and not rely on any single financial measure to evaluate our business.
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1 Per diluted share figures reflect 6-for-1 common stock split effective March 28, 2025.
2 See appendix for a reconciliation of non-GAAP financial measures.
3 See appendix for a reconciliation of non-GAAP financial measures.
4 Per diluted share figures reflect 6-for-1 common stock split effective March 28, 2025.
5 See appendix for a reconciliation of non-GAAP financial measures.
6 See appendix for a reconciliation of non-GAAP financial measures.
7 Per diluted share figures reflect 6-for-1 common stock split effective March 28, 2025.
8 See appendix for a reconciliation of non-GAAP financial measures. FY2026 Non‑GAAP adjusted financial guidance reflects add-backs for estimated FY2026 expenses associated with Corporate Strategic Projects.
9 Per diluted share figures reflect 6-for-1 common stock split effective March 28, 2025.
10 A session occurs when a Sezzle Consumer opens the Sezzle app and ends after 30 minutes of inactivity.
11 Length of loan and APR varies by user and merchant offering and is determined by Sezzle’s long-term lending partner.
12 See appendix for a reconciliation of non-GAAP financial measures.
13 See appendix for a reconciliation of non-GAAP financial measures.