Start here if you're new
what it is
Sezzle lets shoppers split purchases into installments, and it gets paid by merchants, consumers, and paid app features.
how it gets paid
Last year Sezzle made $236M in revenue. merchant fees was the main engine at $96M, or 41% of sales.
why it's growing
Revenue grew 69.2% last year. 190% revenue growth mattered most because it shows Sezzle is not just cutting costs better.
what just happened
Revenue hit $166M, up 190% vs. prior year, while EPS reached $2.55.
At a glance
B+ balance sheet — decent shape, but not bulletproof
29.6x trailing p/e — priced about right
44.5% return on capital — every dollar works hard here
$2.19 fy2024 eps est
$271M fy2024 rev est
xvary composite: 51/100 — below average
What they do
Sezzle lets shoppers split purchases into installments, and it gets paid by merchants, consumers, and paid app features.
Sezzle wins because it sits right at checkout, where your wallet is already open and your patience is already gone. The platform adds paid features like Premium and Anywhere, so it is not just a one-button loan. A 44.5% return on capital means every dollar put into the business throws off $0.445 in profit, so what: this model is working hard.
How they make money
$236M
annual revenue · their business grew +69.2% last year
merchant fees
$96M
consumer fees
$68M
partner income
$37M
subscription revenue
$24M
other platform revenue
$11M
The products that matter
bnpl payment platform
Sezzle Platform
$450.3M 2025 revenue
It generated $450.3M in 2025 revenue, and transaction costs were 37.6% of that total. That spread is the operating story.
core business
consumer rewards program
Earn Tab
$1M+ monthly revenue
It brings in over $1M in monthly revenue. That is small next to the platform, but it shows Sezzle is trying to monetize users beyond the checkout button.
adjacent monetization
Key numbers
74.9%
operating margin
Operating margin → profit left after running the business → so what: Sezzle is converting revenue into earnings at a level most lenders do not touch.
44.5%
return on capital
Return on capital → profit earned on money invested → so what: management is getting $0.445 of profit for each dollar committed.
$118M
long-term debt
Debt is only 5% of capital, so the balance sheet looks more annoying than dangerous.
3.05
beta
Beta → how violently a stock moves versus the market → so what: this name can turn a normal day into a weather event.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 5 / 100
- long-term debt $118M (5% of capital)
B+ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for SEZL right now.
source: institutional data · return history unavailable
What just happened
beat estimates
Revenue hit $166M, up 190% vs. prior year, while EPS reached $2.55.
The company is getting both growth and leverage. Annual revenue was $236M, up 69.2%, while operating margin reached 74.9%, which is the kind of number that makes mediocre fintechs stare into the middle distance.
$166M
revenue
$2.55
eps
62.4%
gross margin
the number that mattered
190% revenue growth mattered most because it shows Sezzle is not just cutting costs better, it is still adding business fast.
source: company earnings report, 2026
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What could go wrong
the #1 risk is merchant churn and pricing pressure in buy now, pay later.
high
Merchant churn in a low-switching-cost category
Klarna, Affirm, and Zip all compete for the same checkout real estate. Merchants can change providers faster than they can change their warehouse.
Merchant fees were $450.3M in 2025. If pricing gets tighter, the main revenue line takes the hit directly.
med
The market may not trust 2025 as a permanent earnings base
Sezzle reported $133.1M in net income and guided to $4.70 in adjusted EPS, yet the stock still sits 62% below its $187 peak.
That is what skepticism looks like in price form. If growth slows, the rerating can keep going the wrong way.
med
Consumer fee scrutiny
Sezzle markets interest-free plans, but it also earns late and rescheduling fees. That is where regulators and consumer advocates tend to look first.
Consumer fees are only about ~$12M here, but regulation rarely stays neatly inside one line item.
low
Data quality inside the snapshot is thin in places
This page still carries older estimate fields like $271M revenue and $2.19 EPS alongside reported 2025 results of $450.3M revenue and much stronger profitability.
That does not change the business. It does mean you should anchor on the freshest reported numbers, not every stale estimate still floating around the feed.
A squeeze on merchant pricing would pressure the business where it matters most, because the $450.3M core revenue line depends on merchants continuing to pay for Sezzle's checkout slot.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
q1 2026 earnings on may 6, 2026
This is the next proof point. You want to see whether the post-2025 momentum is still there, not just talked about on calls.
metric
25–30% revenue growth target
Management set the bar. If Sezzle starts drifting below that range, the market will stop treating 2025 like a durable reset.
trend
Earn Tab scaling beyond $1M a month
A side business doing over $1M monthly is not enough to change the thesis yet. It is enough to watch for a second revenue stream.
risk
merchant pricing and competitor response
If rivals get more aggressive at checkout, Sezzle may have to give up margin or share. In this business, you usually do not get to keep both.
Analyst rankings
street coverage
thin
coverage data is limited. in human-speak, this is not a stock with a massive analyst choir behind it.
risk view
3
Risk rank 3 translates to roughly average balance-sheet risk. Not fragile, not a bunker.
trading profile
5 / 100
Price stability is extremely low. Translation: if you own it, you should expect sharp moves both ways.
source: institutional data
Institutional activity
institutional ownership data for SEZL is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$69
current price
n/a
target midpoint · n/a from current
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