Recent News
On July 21, 2025 Sezzle announced timing for its second-quarter 2025 results and confirmed participation in multiple investor conferences in August and September, listing Oppenheimer (Aug. 11), Needham (Aug. 14), and B. Riley (Sept. 10) as scheduled appearances.
Technical Analysis
ADX at 26.7 signals a strong trend environment; strength magnitude supports higher short-term volatility and increases the relevance of directional indicators when assessing near-term price action.
DI+ sits at 15.36 and shows a decreasing trend while DI− reads 29.85 after a dip & reversal; the directional set-up favors downside pressure given the relative strength of DI− versus DI+ and the recent DI− reversal.
MACD at −5.48 with a peak & reversal and the MACD signal at −5.79 indicates bearish momentum; the MACD peak-and-reverse pattern aligns with near-term downside bias.
MRO at 10.13 with a peak & reversal indicates price sits above the model target and carries a moderate mean-reversion risk, reinforcing the potential for downward adjustment toward objective targets used in valuation context.
RSI at 39.02 and decreasing signals momentum weakness without yet reaching classical oversold extremes, supporting the view of consolidation or further softening before any sustained recovery.
Price sits below the 26-day EMA ($89.92) and the 12-day EMA ($84.62) shows a decreasing trend; the 200-day average ($80.26) lies near the current price ($78.83), suggesting short-term pressure with a nearby long-term anchor. Bollinger bands show a $91.24 upper and $81.64 lower 1x band, placing current trade near the lower band and implying limited immediate downside cushion inside recent volatility ranges.
Fundamental Analysis
Sezzle reported GAAP total revenue of $98.7M for Q2 2025 and adjusted EPS (non‑GAAP) of $0.69, a beat versus an estimate of $0.58 and an EPS surprise ratio of 18.97%. Management highlighted record GMV of $927.0M and guided FY2025 revenue growth in the 60–65% range with adjusted net income goals for the year.
Margins show strength: gross margin at 73.735% and operating margin at 36.561% remain elevated, and EBIT margin of 36.649% sits above the industry peer high of 35.303%, indicating superior operating profitability relative to the industry peer mean and median. Quarterly dynamics show EBIT margin QoQ declined by 22.979% while YoY expanded by 24.39%, signaling recent margin compression from a higher base but year-over-year improvement.
Profitability returns remain healthy: return on equity at 21.169% and return on assets at 8.512% provide positive returns on capital, though both show notable QoQ deterioration (ROE QoQ −26.384%, ROA QoQ −29.804%), implying shorter-term efficiency headwinds despite multi-period strength.
Balance-sheet and cash-flow metrics provide mixed signals. Cash and short-term investments total $88.943M with a cash ratio of 1.00 and current ratio of 3.505, reflecting ample near-term liquidity; free cash flow sits negative at −$37.335M and free cash flow yield at −0.969%, with free cash growth negative QoQ but positive YoY. Debt metrics show total debt of $131.385M and debt-to-EBITDA of 3.60, with interest coverage around 10.33x, indicating manageable coverage yet leverage elevated versus conservative norms.
Valuation context: forward PE near 32.20 contrasts with a trailing PE of 186.09 and a price-to-book of 29.56 that lies well above the industry peer mean and median; WMDST values the stock as over-valued, reflecting stretched multiples relative to earnings and book value despite operational momentum.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-07 |
| NEXT REPORT DATE: | 2025-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 120.9 M |
| Operating Cash Flow | $ -36.31 M | |
| Capital Expenditures | $ -1.02 M | |
| Change In Working Capital | $ -88.24 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -900.00 K | |
| End Period Cash Flow | $ 120.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 98.7 M | |
| Forward Revenue | $ 94.3 M | |
| COSTS | ||
| Cost Of Revenue | $ 25.9 M | |
| Depreciation | $ 324.0 K | |
| Depreciation and Amortization | $ 324.0 K | |
| Research and Development | — | |
| Total Operating Expenses | $ 62.6 M | |
| PROFITABILITY | ||
| Gross Profit | $ 72.8 M | |
| EBITDA | $ 36.5 M | |
| EBIT | $ 36.2 M | |
| Operating Income | $ 36.1 M | |
| Interest Income | — | |
| Interest Expense | $ 3.5 M | |
| Net Interest Income | $ -3.50 M | |
| Income Before Tax | $ 32.7 M | |
| Tax Provision | $ 5.1 M | |
| Tax Rate | 15.5 % | |
| Net Income | $ 27.6 M | |
| Net Income From Continuing Operations | $ 27.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.58 | |
| EPS Actual | $ 0.69 | |
| EPS Difference | $ 0.11 | |
| EPS Surprise | 18.966 % | |
| Forward EPS | $ 3.10 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 350.6 M | |
| Intangible Assets | $ 2.8 M | |
| Net Tangible Assets | $ 127.6 M | |
| Total Current Assets | $ 311.5 M | |
| Cash and Short-Term Investments | $ 88.9 M | |
| Cash | $ 88.9 M | |
| Net Receivables | $ 543.0 K | |
| Inventory | — | |
| Long-Term Investments | $ 21.1 M | |
| LIABILITIES | ||
| Accounts Payable | $ 60.5 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 88.9 M | |
| Net Debt | $ 41.6 M | |
| Total Debt | $ 131.4 M | |
| Total Liabilities | $ 220.2 M | |
| EQUITY | ||
| Total Equity | $ 130.4 M | |
| Retained Earnings | $ -45.83 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 3.83 | |
| Shares Outstanding | 34.015 M | |
| Revenue Per-Share | $ 2.90 | |
| VALUATION | Market Capitalization | $ 3.9 B |
| Enterprise Value | $ 3.9 B | |
| Enterprise Multiple | 106.782 | |
| Enterprise Multiple QoQ | 266.966 % | |
| Enterprise Multiple YoY | 370.964 % | |
| Enterprise Multiple IPRWA | high: 423.128 median: 423.128 mean: 379.303 SEZL: 106.782 low: -269.237 |
|
| EV/R | 39.485 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.688 | |
| Asset To Liability | 1.592 | |
| Debt To Capital | 0.502 | |
| Debt To Assets | 0.375 | |
| Debt To Assets QoQ | 57.806 % | |
| Debt To Assets YoY | 113472.727 % | |
| Debt To Assets IPRWA | high: 0.622 SEZL: 0.375 mean: 0.232 median: 0.078 low: 0.009 |
|
| Debt To Equity | 1.008 | |
| Debt To Equity QoQ | 78.996 % | |
| Debt To Equity YoY | 72387.05 % | |
| Debt To Equity IPRWA | high: 4.283 SEZL: 1.008 mean: 0.825 median: 0.094 low: -0.219 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 29.562 | |
| Price To Book QoQ | 151.423 % | |
| Price To Book YoY | 239.853 % | |
| Price To Book IPRWA | SEZL: 29.562 high: 13.613 median: 13.613 mean: 12.525 low: -2.198 |
|
| Price To Earnings (P/E) | 186.085 | |
| Price To Earnings QoQ | 327.434 % | |
| Price To Earnings YoY | 1071.355 % | |
| Price To Earnings IPRWA | high: 325.167 median: 325.167 mean: 292.877 SEZL: 186.085 low: -46.824 |
|
| PE/G Ratio | -6.003 | |
| Price To Sales (P/S) | 39.055 | |
| Price To Sales QoQ | 177.093 % | |
| Price To Sales YoY | 399.689 % | |
| Price To Sales IPRWA | high: 61.584 median: 61.584 mean: 54.893 SEZL: 39.055 low: 0.056 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 32.199 | |
| Forward PE/G | -1.039 | |
| Forward P/S | 40.895 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 4.652 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.304 | |
| Asset Turnover Ratio QoQ | -13.488 % | |
| Asset Turnover Ratio YoY | 10.871 % | |
| Asset Turnover Ratio IPRWA | high: 0.344 SEZL: 0.304 median: 0.192 mean: 0.168 low: 0.04 |
|
| Receivables Turnover | 180.607 | |
| Receivables Turnover Ratio QoQ | 92.946 % | |
| Receivables Turnover Ratio YoY | 277.566 % | |
| Receivables Turnover Ratio IPRWA | SEZL: 180.607 high: 9.543 mean: 2.762 median: 1.725 low: 0.194 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 0.505 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.443 | |
| CapEx To Revenue | -0.01 | |
| CapEx To Depreciation | -3.148 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 260.9 M | |
| Net Invested Capital | $ 260.9 M | |
| Invested Capital | $ 260.9 M | |
| Net Tangible Assets | $ 127.6 M | |
| Net Working Capital | $ 222.7 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.001 | |
| Current Ratio | 3.505 | |
| Current Ratio QoQ | 33.914 % | |
| Current Ratio YoY | 69.215 % | |
| Current Ratio IPRWA | high: 6.09 mean: 3.892 median: 3.85 SEZL: 3.505 low: 0.153 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 3.6 | |
| Cost Of Debt | 2.926 % | |
| Interest Coverage Ratio | 10.332 | |
| Interest Coverage Ratio QoQ | -39.687 % | |
| Interest Coverage Ratio YoY | 82.406 % | |
| Interest Coverage Ratio IPRWA | high: 34.271 SEZL: 10.332 median: 0.763 mean: -6.022 low: -83.832 |
|
| Operating Cash Flow Ratio | 0.259 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 189.108 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 17.606 % | |
| Revenue Growth | -5.919 % | |
| Revenue Growth QoQ | -186.916 % | |
| Revenue Growth YoY | -130.931 % | |
| Revenue Growth IPRWA | high: 18.646 % median: 13.559 % mean: 10.795 % SEZL: -5.919 % low: -15.114 % |
|
| Earnings Growth | -31.0 % | |
| Earnings Growth QoQ | -59.312 % | |
| Earnings Growth YoY | -111.609 % | |
| Earnings Growth IPRWA | high: 150.0 % SEZL: -31.0 % mean: -102.692 % median: -166.038 % low: -281.818 % |
|
| MARGINS | ||
| Gross Margin | 73.735 % | |
| Gross Margin QoQ | -13.918 % | |
| Gross Margin YoY | -4.542 % | |
| Gross Margin IPRWA | high: 84.239 % SEZL: 73.735 % mean: 56.233 % median: 48.582 % low: 4.36 % |
|
| EBIT Margin | 36.649 % | |
| EBIT Margin QoQ | -22.979 % | |
| EBIT Margin YoY | 24.39 % | |
| EBIT Margin IPRWA | SEZL: 36.649 % high: 35.303 % median: 13.843 % mean: 7.364 % low: -15.064 % |
|
| Return On Sales (ROS) | 36.561 % | |
| Return On Sales QoQ | -23.164 % | |
| Return On Sales YoY | 24.091 % | |
| Return On Sales IPRWA | SEZL: 36.561 % high: 27.536 % median: 13.843 % mean: 6.257 % low: -19.837 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -37.34 M | |
| Free Cash Flow Yield | -0.969 % | |
| Free Cash Flow Yield QoQ | -124.482 % | |
| Free Cash Flow Yield YoY | -12.228 % | |
| Free Cash Flow Yield IPRWA | high: 4.613 % mean: 0.332 % median: 0.256 % SEZL: -0.969 % low: -7.799 % |
|
| Free Cash Growth | -163.789 % | |
| Free Cash Growth QoQ | -101.598 % | |
| Free Cash Growth YoY | 45.439 % | |
| Free Cash Growth IPRWA | high: 196.531 % median: 16.253 % mean: -3.281 % SEZL: -163.789 % low: -187.494 % |
|
| Free Cash To Net Income | -1.353 | |
| Cash Flow Margin | 23.336 % | |
| Cash Flow To Earnings | 0.834 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 8.512 % | |
| Return On Assets QoQ | -29.804 % | |
| Return On Assets YoY | -41.567 % | |
| Return On Assets IPRWA | SEZL: 8.512 % high: 6.48 % median: 6.48 % mean: 3.946 % low: -11.226 % |
|
| Return On Capital Employed (ROCE) | 13.823 % | |
| Return On Equity (ROE) | 0.212 | |
| Return On Equity QoQ | -26.384 % | |
| Return On Equity YoY | -64.158 % | |
| Return On Equity IPRWA | SEZL: 0.212 high: 0.168 median: 0.075 mean: 0.019 low: -0.503 |
|
| DuPont ROE | 21.552 % | |
| Return On Invested Capital (ROIC) | 11.714 % | |
| Return On Invested Capital QoQ | -40.326 % | |
| Return On Invested Capital YoY | -152.115 % | |
| Return On Invested Capital IPRWA | SEZL: 11.714 % high: 8.015 % median: 2.388 % mean: 1.578 % low: -23.088 % |
|