Sezzle Inc.
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever buys today bets that Sezzle can defend its fee margin against regulation, competition and the economy, that the WebBank partnership holds, and that the loosened credit filter does not end in a wave of defaults — and pays nearly 40 times earnings for it. Whoever waits can check three things in the quarterly reports (10-Q): the trajectory of consumer fees relative to merchant income, the loss ratio after the underwriting changes, and the state of the WebBank partnership. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
By the numbers, Sezzle is currently one of the most profitable BNPL providers on the market: no. 1 in our Terry Smith quality scanner (U.S. selection, as of July 18, 2026), $133.1 million of net income in fiscal year 2025, an operating margin above 50 percent in the latest quarter. But the filings show what the dream margin is made of: 77 percent of revenue is carried mostly by consumers (fees, subscriptions, late payment fees), the loans come from a single bank partner with termination rights, the credit filter was deliberately loosened, and one man controls 44.2 percent of the shares. Whoever invests here buys a highly profitable but concentratedly risky fee powerhouse at nearly 40 times annual earnings. Not investment advice.
Growth & profitability
A genuine turnaround: from a $38.1 million loss (2022) to $133.1 million of net income on $450.3 million of revenue (+66.1 percent) in fiscal year 2025; Q1 2026 with $51.3 million of profit and a 50.9 percent operating margin (10-K FY 2025, 10-Q as of 03/31/2026).
Revenue source & reputation
Only 23 percent of 2025 revenue came from merchants and partners; 77 percent was carried mostly by consumers (consumer fees $131.9 million, subscriptions $99.4 million, other income $116.8 million) — and per the 10-Q the latest fee growth came mainly from higher fee prices. Exposed to regulation and reputation (CFPB oversight).
WebBank dependency
The "substantial majority" of loans has been originated since 09/26/2024 by a single bank partner (WebBank) with termination and suspension rights, which remains free to work with competitors (10-K FY 2025, Item 1A) — a supplier concentration in the business model's most important ingredient.
Credit risk & underwriting
Provision for credit losses up 62.3 percent to $89.3 million (19.8 percent of revenue, ratio slightly down), but per the 10-K partly a result of deliberately loosened consumer underwriting "to promote consumer acquisition and retention"; the fourth quarter seasonally brings the highest charge-offs.
Governance & ownership
CEO and Chairman Youakim holds approximately 44.2 percent (Schedule 13D/A of 02/11/2025), the remaining stockholders have "minimal control" per the 10-K; only two analyst firms cover the stock, and 19 insider sales stand against 1 buy (data as of July 10, 2026). Counterweight: $50 million of buybacks in 2025 plus a $100 million program.
Valuation
Roughly $5.7 billion of market value, P/E around 38 and P/S around 12 on the trailing four quarters (data as of July 10, 2026) — sporty for growth normalizing from 66 to 29 percent; a solid balance sheet ($120.4 million cash, $196.7 million equity as of 03/31/2026) as a buffer.
Worth Noting
SEZL landed on the research list via the Terry Smith quality scanner (no. 1 of the U.S. selection, as of July 18, 2026); the confluence with 27 mostly momentum scanners describes the same price climb (plus 414 percent in the second quarter of 2025, minus 56 percent in the third) and is no independent proof of quality.
The return on equity around 92 percent is partly a consequence of equity still being small after loss years ($196.7 million as of 03/31/2026); the 2024 profit contained a one-time tax benefit of $11.2 million — read the return metrics as a snapshot rather than a steady state.
Price and valuation figures dated July 10, 2026 (market value roughly $5.7 billion); analyses are evergreen, daily prices are not a buy argument. Identity verified via EDGAR submissions: U.S. domestic filer (10-K/10-Q), CIK 0001662991, incorporated in Delaware on 01/04/2016, no name changes, Nasdaq the sole trading exchange since the 2023 ASX delisting; 6-for-1 stock split effective 03/28/2025.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at SEZL since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 51.00 $ to 188.60 $ · Last price: 113.10 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Credit Services
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Sezzle Inc. SEZL | 3.9 | 16.0 | 20.0 | 75.0 | 61.0 | 66.1 | 27.8 |
| Visa Inc. Class A V | 699.4 | 33.2 | 24.3 | 97.7 | 67.4 | 11.3 | 7.7 |
| Mastercard Inc MA | 500.7 | 33.9 | 23.1 | 100.0 | 60.8 | 16.4 | -4.9 |
| American Express Company AXP | 213.1 | 19.5 | 0.0 | 62.3 | 21.3 | 8.4 | -6.4 |
| Capital One Financial Corporation COF | 124.4 | 62.2 | 0.0 | 100.0 | 28.6 | 28.4 | -9.1 |
| PayPal Holdings Inc PYPL | 45.7 | 10.1 | 6.6 | 40.5 | 17.0 | 4.3 | -20.3 |
| Synchrony Financial SYF | 25.3 | 7.7 | 0.0 | 100.0 | 48.0 | -7.9 | 2.1 |
| Affirm Holdings Inc AFRM | 23.7 | 63.7 | 25.7 | 48.9 | 8.5 | 38.8 | -22.3 |
| SoFi Technologies Inc. SOFI | 21.0 | 35.7 | 0.0 | 83.7 | 18.3 | 82.6 | -38.4 |
| Median of companies shown | 45.7 | 33.2 | 6.6 | 83.7 | 28.6 | 16.4 | -6.4 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 0 | -1 | -2 | -0.21 | -1 | -2 | 1 |
| 2018 | 2 | -4 | -4 | -0.45 | -6 | 5 | 13 |
| 2019 | 16 | -11 | -17 | -0.94 | -20 | 27 | 65 |
| 2020 | 59 | -28 | -32 | -1.08 | -25 | 60 | 174 |
| 2021 | 115 | -69 | -75 | -2.38 | -72 | 38 | 223 |
| 2022 | 126 | -28 | -38 | -1.17 | 9 | 9 | 173 |
| 2023 | 159 | 22 | 7 | 0.21 | -26 | 22 | 213 |
| 2024 | 271 | 82 | 79 | 13.83 | 41 | 88 | 298 |
| 2025 | 450 | 177 | 133 | 3.72 | 210 | 170 | 400 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 4.47 | 5,153.00 | 98 | 100.90 | 25.80 | 1 | 1 |
| 2025: Q1 | 1.00 | 346.60 | 105 | 123.30 | 34.50 | 59 | 59 |
| 2025: Q2 | 0.76 | -7.10 | 99 | 76.40 | 28.00 | -36 | -37 |
| 2025: Q3 | 0.74 | -72.90 | 117 | 67.00 | 22.80 | 33 | 32 |
| 2025: Q4 | 1.19 | -73.30 | 130 | 32.20 | 32.90 | 154 | 154 |
| 2026: Q1 | 1.47 | 46.90 | 136 | 29.20 | 37.90 | 89 | 89 |
| 2026: Q2 | 1.17 | 53.90 | 150 | 51.70 | 27.30 | 52 | 52 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 27 of our scanner strategies — each hit links to the scanner.
Growth
- EPS Acceleration
- Growth Gems
- High Revenue Growth
- Martin Zweig: Growth with Reason
- Patrick Walker: 40, 40 Screen
- Quality Growth
- Ted Zhang: Super Stock Universe
Quality & Balance Sheet
- Institutional Accumulation
- Mike Webster: Recession Proof
- Pros 80%
- Terry Smith: Quality (Fundsmith Criteria)
- U/D Accumulation
Aktien.Guide
Momentum & Trend
- 21-EMA Trend
- Above the 50- & 200-SMA
- High ADR (≥5%)
- Jeff Sun
- Mark Minervini: Trend Criteria — 1 Month
- Mike Webster: Swing Trading List
- Oliver Kell: Doublers
- RS Leader (≥90)
- Richard Moglen: Top Performers 3/6 Month
- Stage 2 Leader
- Stan Weinstein: Checklist
- Stan Weinstein: Stage 2
Research
Value & GARP
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 5.26 | 5.21 – 5.33 | 609 | 46.5% | 6 |
| 12/31/2027 | 6.65 | 6.38 – 7.24 | 757 | 26.4% | 6 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 0.7% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $326.5M |
|---|---|
| Market cap | $3.92B |
| Free cash flow in year ten | $350.8M |
| Terminal value as a share of market value | 47.1% |
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Sezzle setzt maschinelles Lernen dokumentiert operativ im Kerngeschäft ein: Der firmeneigene „Prophet Score“ — ein Machine-Learning-Modell — steuert laut 10-K/10-Q die Kreditrisikobewertung des gesamten Forderungsportfolios und wird mindestens jährlich überprüft. KI/ML ist keine Umsatzquelle (kein KI-Produktverkauf), und die KI-Erwähnungen in den Risikofaktoren (Wettbewerb, Datenschutzregulierung zu AI/ML) bleiben allgemein — daher „Nutzt KI“.
View the full file — quotes, sources, reviewed filings
„When assessing the credit quality and risk of our portfolio, we monitor a variety of internal risk indicators and consumer attributes that are shown to be predictive of ability and willingness to repay, and combine these factors to establish an internal, proprietary score as a credit quality indicator (the “Prophet Score”). […] The risk and fraud team also evaluates the integrity of the Prophet Score machine learning model at least annually and updates it as necessary. We last updated the Prophet Score model in October 2023."
Bei der Beurteilung der Kreditqualität und des Risikos unseres Portfolios beobachten wir eine Reihe interner Risikoindikatoren und Konsumentenmerkmale, die sich als aussagekräftig für Zahlungsfähigkeit und Zahlungsbereitschaft erwiesen haben, und kombinieren diese Faktoren zu einem internen, firmeneigenen Score als Kreditqualitätsindikator (dem „Prophet Score“). […] Das Risiko- und Betrugsteam überprüft zudem mindestens jährlich die Integrität des Prophet-Score-Machine-Learning-Modells und aktualisiert es bei Bedarf. Zuletzt haben wir das Prophet-Score-Modell im Oktober 2023 aktualisiert.
10-K · 2026-02-26 · View SEC filing
„Our risk and fraud team closely monitors the distribution of Prophet Scores for signs of changes in credit risk exposure and portfolio performance. The risk and fraud team also evaluates the integrity of the Prophet Score machine learning model at least annually and updates it as necessary."
Unser Risiko- und Betrugsteam beobachtet die Verteilung der Prophet Scores engmaschig auf Anzeichen für Veränderungen des Kreditrisikos und der Portfolioentwicklung. Das Risiko- und Betrugsteam überprüft zudem mindestens jährlich die Integrität des Prophet-Score-Machine-Learning-Modells und aktualisiert es bei Bedarf.
10-Q · 2026-05-07 · View SEC filing
„As a result, we are subject to a complex and evolving array of laws, rules, directives, and regulations, as well as contractual obligations, relating to privacy and data protection, including with respect to cloud computing and artificial intelligence and machine learning (“AI/ML”)."
Infolgedessen unterliegen wir einem komplexen und sich weiterentwickelnden Geflecht aus Gesetzen, Regeln, Richtlinien und Verordnungen sowie vertraglichen Pflichten zu Privatsphäre und Datenschutz, auch mit Blick auf Cloud-Computing sowie künstliche Intelligenz und maschinelles Lernen („AI/ML“).
10-K · 2026-02-26 · View SEC filing
Filings Reviewed: 10-Q 2026-05-07 · 10-Q 2025-11-06 · 10-Q 2025-08-08 · 10-Q 2025-05-08 · 10-K 2026-02-26 · 10-K 2025-02-27
Rated on July 18, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 53.1%
- More than 10% revenue growth is expected for the coming year 25.3%
- Share count grows by less than 3% a year 3.1%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 112.4%
- Gross margin at 40% or higher and without meaningful erosion 85.4%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 0.3 x EBITDA
- Operating cash flow covers the profits of the last three years 6 m
- Return on capital at 15% or higher, or up versus two years ago 56.9%
- Insiders hold at least 10% or are net buyers 53.1%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
8/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 232.7%
- Exp. sales growth 3Y > 5% 29.7%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 33.6%
- Net debt < 4x EBIT 0.4x
- EBIT positive, 10Y straight 3
- Max. EBIT decline < 50% 0.0%
- Return on equity > 15% 80.0%
- ROCE > 15% 56.9%
- Expected return > 10% 40.7%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | Youakim Charles | Executive Chairman and CEO | Other | 1,508,454 | – | – |
| Aug 27, 2026 | Brehm Kyle M. | Director | Sell | 1,000 | 125.92 | 125,920 |
| Aug 20, 2026 | Khurana Rajeev | General Counsel | Buy | 129 | 115.88 | 14,948 |
| Aug 10, 2026 | Youakim Charles | Executive Chairman and CEO | Other | 6,978 | 118.00 | 823,404 |
| Aug 10, 2026 | Paradis Paul | Director & President | Other | 7,110 | 118.00 | 838,980 |
| Aug 10, 2026 | Krause Justin | SVP FINANCE AND CONTROLLER | Other | 1,571 | 118.00 | 185,378 |
| Aug 10, 2026 | Sabzivand Amin | Chief Operating Officer | Other | 6,973 | 118.00 | 822,814 |
| Aug 10, 2026 | Brading Lee Dickson | Chief Financial Officer | Other | 1,405 | 118.00 | 165,790 |
| Jul 16, 2026 | Paradis Paul | Director & President | Sell | 400 | 194.52 | 77,806 |
| Jul 16, 2026 | Paradis Paul | Director & President | Sell | 1,700 | 193.52 | 328,983 |
The company
About the Company
Sezzle Inc. ist als technologiegestütztes Zahlungsunternehmen in den USA und Kanada tätig.
- CEO Insider Trades (12 Mo.)
- selling own stock
- Employees
- 201
- Headquarters
- Minneapolis, MN
- Address
- 700 Nicollet Mall, 55402 Minneapolis, United States
- Phone
- 651 240 6001
- Website
- sezzle.com
- IPO Date
- 08/17/2023
- ISIN
- US78435P1057
- Stock Split
- 6:1 on 03/31/2025
Management
| Name | Title | Birth Year |
|---|---|---|
| Charles G. Youakim | Co-Founder, Executive Chairman & CEO | 1977 |
| Paul Victor Paradis | Co-Founder, President & Executive Director | 1984 |
| Lee Dickson Brading C.F.A. | Chief Financial Officer | 1968 |
| Amin Sabzivand | Chief Operating Officer | 1989 |
| Justin Krause | Senior VP of Finance & Financial Controller | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/28/2026 Sezzle Inc. (SEZL): Other Events SEC ↗
- 08/18/2026 Sezzle Inc. (SEZL): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Financial Statements and Exhibits SEC ↗
- 08/12/2026 Sezzle Inc. (SEZL): Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
- 08/06/2026 Sezzle Inc. (SEZL): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/14/2026 Sezzle Inc. (SEZL): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.