At a glance
Sezzle Inc. is worth $4.38B, about 35 times its fiscal 2025 earnings. Revenue grew 66.1% to $450.3M in fiscal 2025, with 29.6% kept as profit; over 5 years it has grown 50.3% a year. It pays no dividend; it spent $93.0M buying back its shares over FY2021–FY2025. The stock returned +80.3% over the past year with dividends reinvested, against +11.5% for the S&P 500.
The business in plain English
Sezzle runs a “buy now, pay later” platform that lets shoppers split purchases into installments. Its main plan, “pay-in-four,” has shoppers pay a quarter of the price at checkout and the rest every two weeks over six weeks. It also offers pay-in-two and pay-in-full. Sezzle mainly targets Gen Z and Millennial shoppers, many of whom lack access to traditional credit. It operates in the United States and Canada and is winding down operations in India and parts of Europe.
Revenue comes from four similar-sized sources. In the fiscal year ended December 31, 2025, revenue was about $450.3 million. Consumer fees made up 29.3%; Sezzle can charge shoppers late, failed-payment and rescheduling fees. A line labeled “income from other sources” was 25.9%, and merchant and partner income was 22.7%. Subscriptions were 22.1%: Sezzle Premium and Sezzle Anywhere charge a recurring fee to use a Sezzle Virtual Card at stores not directly integrated with Sezzle.
WebBank, a Utah bank insured by the FDIC, makes a substantial majority of the loans offered through Sezzle and issues the Sezzle Virtual Card under a Visa license. Since June 2020, Sezzle has been a Delaware public benefit corporation, so its directors must weigh a stated public benefit and other stakeholders alongside shareholders’ financial interests.
Price history
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SEZL +80.3% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Consumer fees | $131.9M | 29.3% |
| Income from other sources | $116.8M | 25.9% |
| Merchant and partner income | $102.2M | 22.7% |
| Subscription revenue | $99.4M | 22.1% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $149.7M, up 51.7% from a year earlier, and net income was $40.8M (+47.7%).
- For fiscal 2025, revenue was $450.3M (+66.1% year over year; +50.3% a year from FY2020 to FY2025) with a 29.6% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +50.3% good |
|---|---|
| Operating margin | 39.3% good |
| Free cash flow margin | 46.5% good |
| Return on equity (FY2025) | 78.4% good |
| Return on assets (FY2025) | 33.3% good |
| Cash and investments | $79.8M (debt isn’t tagged in a standard way in the filings, so net cash can’t be shown) |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $58.8M | $-32.4M | $-25.2M |
| FY2021 | $114.8M | $-75.2M | $-72.8M |
| FY2022 | $125.6M | $-38.1M | $8.5M |
| FY2023 | $159.4M | $7.1M | $-25.8M |
| FY2024 | $271.1M | $78.5M | $130.6M |
| FY2025 | $450.3M | $133.1M | $209.3M |
Valuation snapshot
| Market value | $4.38B |
|---|---|
| P/E ratio | 35 |
| Dividend yield | None |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SEZL price data to Oct 28, 2026 | +104.8% | +80.3% | +357.5% | — | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +104.8% |
| 2025 | +48.9% |
| 2024 | +1146.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 2 open-market purchases ($44K) and 41 sales ($19.2M), 40 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 18, 2026 | Paul Paradis Director & President, Director | sell (plan) | $2.5M |
| Jul 16, 2026 | Paul Paradis Director & President, Director | sell (plan) | $1.4M |
| Jun 12, 2026 | Paul Paradis Director & President, Director | sell (plan) | $1.1M |
| Jul 15, 2026 | Paul Paradis Director & President, Director | sell (plan) | $1.0M |
| Jun 12, 2026 | Paul Paradis Director & President, Director | sell (plan) | $998K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 7.1% | Dec 31, 2025 |
ETFs with the most weight in SEZL
| XITK SPDR FactSet Innovative Technology ETF | 0.88% |
| FYC First Trust Small Cap Growth AlphaDEX Fund | 0.73% |
| FINX Global X FinTech ETF | 0.29% |
| FYX First Trust Small Cap Core AlphaDEX Fund | 0.29% |
| BFOR ALPS Barron's 400 ETF | 0.26% |
| QSML WisdomTree U.S. SmallCap Quality Growth Fund | 0.23% |
| VFMO Vanguard U.S. Momentum Factor ETF | 0.16% |
| JSML Janus Henderson Small Cap Growth Alpha ETF | 0.15% |
What could go wrong
- Reliance on a single bank partner. WebBank makes a substantial majority of loans on Sezzle’s platform. If regulators or courts successfully challenge this arrangement, Sezzle could face claims it broke licensing, interest-rate or lending laws, plus fines and lawsuits.
- Big holder and pledged CEO shares. A major stockholder owns a large share of the company and can strongly influence decisions. The chairman and CEO has pledged some shares as loan collateral; a forced sale could weigh on the stock.
- Weakness in financial reporting controls. Sezzle disclosed a material weakness in its internal control over financial reporting: a gap that could let significant errors in reported results go uncaught. If not fixed, timely and accurate reporting could suffer.
- Unsecured loans and consumer bad debts. Loans on Sezzle’s platform are not secured, guaranteed or insured, and shoppers may treat them as less pressing than other bills. A weaker economy could lift missed payments and bad debts.
- More regulatory scrutiny of buy now, pay later. Regulators are watching the industry more closely. New state or federal rules, or Consumer Financial Protection Bureau oversight, could raise compliance costs, restrict products in some states or make parts of the business uneconomic.
- Larger rivals in a low-barrier industry. Sezzle says the industry has a low barrier to entry. Banks, card networks, technology companies and other pay-later providers, some far larger with cheaper funding, could force it to cut merchant fees or raise incentives.
Recent events
- Quarterly results released
- Other company announcement
- Major agreement signed; New debt or financial obligation
- Investor presentation or announcement
- Quarterly results released
- Quarterly results released
- Investor presentation or announcement
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Quarterly results released
- Quarterly results released
For income and retirement investors
Sezzle pays no dividend, and its annual report says it has no plans to pay one, so shareholders gain only if the share price rises. An income investor would get no cash payouts and would need to sell shares for cash. Sezzle has bought back stock instead, spending about $93 million in fiscal years 2021 through 2025, including about $64.7 million in 2025.
The price history here spans only about 3.2 years as of October 28, 2026, so it does not show how the stock fared in the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. Its swings have been large: over the year to that date it fell as much as 43.3% from a peak, and its biggest fall over three years was 72%. A one-year beta of 2.22 means it moved more than twice as much as the broad market. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Sezzle make money?
Sezzle makes money from fees and subscriptions tied to its buy now, pay later platform, which lets shoppers pay in installments. In the fiscal year ended December 31, 2025, revenue was about $450.3 million. Consumer fees paid by shoppers, such as late fees, made up 29.3%. Income from other sources was 25.9%, merchant and partner income 22.7%, and subscription revenue 22.1%. Sezzle Premium and Sezzle Anywhere subscribers pay a recurring fee to use Sezzle at stores not directly integrated with it.
Is Sezzle profitable?
Yes, based on its latest full-year results. For the fiscal year ended December 31, 2025, Sezzle earned net income of about $133.1 million on revenue of about $450.3 million, so about 29.6% of revenue became profit. That follows net losses in fiscal 2020 through 2022 and a small profit of about $7.1 million in 2023. In the quarter ended June 30, 2026, revenue rose 51.7% from a year earlier. The company warns it may not keep profits at past levels.
Does Sezzle pay a dividend?
No. Sezzle pays no dividend, and its annual report says it has no plans to start, so shareholders benefit only if the stock price rises. The company has used cash for share buybacks instead, spending about $64.7 million on repurchases in the fiscal year ended December 31, 2025, and about $93 million over fiscal 2021 through 2025. An investor who needs regular income would receive none from this stock.
Is Sezzle stock volatile?
Yes, very. As of October 28, 2026, its one-year volatility, a measure of how widely the price swings, was 87.9%. Its one-year beta was 2.22, meaning it tended to move more than twice as much as the broad market. Over that year it fell as much as 43.3% from a peak, though it still gained 80.3% overall. Its price-to-earnings ratio (share price divided by yearly earnings per share) was 35, based on fiscal 2025 earnings.
What does it mean that Sezzle is a public benefit corporation?
It means Sezzle is a for-profit company that must also pursue a stated public benefit. Sezzle became a Delaware public benefit corporation in June 2020 and describes its mission as financially empowering the next generation. Its directors must balance shareholders’ financial interests, the interests of others affected by the company, and the public benefit named in its charter. Sezzle warns that if these conflict, there is no guarantee shareholders will come first, and the structure may invite more lawsuits.