Sezzle Inc. reported significant financial growth in its latest quarterly results, with total revenue reaching $104.9 million for the three months ended March 31, 2025, compared to $47.0 million in the same period last year, marking a 123.3% increase. The company achieved an operating income of $49.9 million, up from $13.8 million in the prior year, while net income surged to $36.2 million, compared to $8.0 million in the previous year. This resulted in a diluted net income per share of $1.00, reflecting a substantial increase from $0.22 in the prior year.
The company's operating expenses also rose, totaling $55.0 million for the quarter, up from $33.1 million a year earlier. Notable increases were seen in personnel costs, which rose to $15.0 million from $11.0 million, and provisions for credit losses, which increased to $12.8 million from $5.1 million. The rise in credit losses was attributed to higher gross merchandise volume (GMV) and changes in consumer underwriting aimed at boosting acquisition. The provision for credit losses represented 12.2% of total revenue, compared to 10.9% in the previous year.
Sezzle's operational metrics showed a slight increase in active consumers, reaching 2.73 million, up from 2.73 million in the previous quarter. However, the number of monthly On-Demand users and subscribers decreased by 6.8% to 658,000, attributed to seasonal fluctuations. The company also reported a total of $169.7 million in notes receivable, down from $194.4 million at the end of 2024, reflecting a strategic focus on managing credit risk.
In terms of strategic developments, Sezzle executed a 6-for-1 stock split effective March 28, 2025, aimed at enhancing liquidity and making shares more accessible to a broader range of investors. The company continues to focus on expanding its product offerings, including the recent launch of features like Payment Streaks and price comparison tools, which are expected to drive user engagement and revenue growth. Looking ahead, Sezzle anticipates continued growth driven by its innovative product suite and strategic partnerships, while remaining vigilant about market conditions and consumer behavior.
About Sezzle Inc.
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