Sezzle Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
SEZL$149.28-1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| For the years ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Operating Activities: | ||
| Net income | $78,522,311 | $7,098,022 |
| Adjustments to reconcile net income to net cash provided from (used for) operating activities: | ||
| Depreciation and amortization | 965,404 | 855,803 |
| Provision for credit losses | 55,014,676 | 23,186,973 |
| Provision for other credit losses | 10,605,064 | 3,351,966 |
| Equity based compensation and restricted stock vested | 5,192,603 | 6,933,718 |
| Amortization of debt issuance costs | 525,617 | 732,029 |
| Impairment losses on long-lived assets | 47,962 | 42,247 |
| Fair value adjustment on warrants | 1,261,556 | 455,962 |
| (Gain) Loss on sale of fixed assets | (54,699) | 25,621 |
| Loss on extinguishment of line of credit | 259,706 | — |
| Deferred income taxes | (16,905,315) | — |
| Changes in operating assets and liabilities: | ||
| Notes receivable | (89,288,635) | (59,364,299) |
| Other receivables | (12,669,607) | (2,390,165) |
| Prepaid expenses and other assets | (4,997,491) | (1,219,639) |
| Merchant accounts payable | (4,344,867) | (9,115,285) |
| Other payables | 1,951,291 | 1,120,852 |
| Deferred revenue | 1,594,933 | 1,126,966 |
| Accrued and other liabilities | 13,145,254 | 1,416,863 |
| Operating leases | 74,275 | 51,933 |
| Net Cash Provided from (Used for) Operating Activities | 40,900,038 | (25,690,433) |
| Investing Activities: | ||
| Purchase of property and equipment | (69,760) | (81,609) |
| Internally developed intangible asset additions | (1,394,203) | (1,283,983) |
| Net Cash Used for Investing Activities | (1,463,963) | (1,365,592) |
| Financing Activities: | ||
| Proceeds from line of credit | 107,426,901 | 54,849,000 |
| Payments to line of credit | (97,426,901) | (24,849,000) |
| Payments of debt issuance costs | (1,106,281) | (128,598) |
| Proceeds from stock option exercises | 3,918,462 | 26,996 |
| Stock subscriptions collected related to stock option exercises | 38,848 | — |
| Proceeds from warrant exercises | 400,741 | — |
| Repurchase of common stock | (23,619,879) | (1,683,210) |
| Net Cash (Used for) Provided from Financing Activities | (10,368,109) | 28,215,188 |
| Effect of exchange rate changes on cash | (1,457,045) | 17,402 |
| Net increase in cash, cash equivalents, and restricted cash | 29,067,966 | 1,159,163 |
| Cash, cash equivalents, and restricted cash, beginning of period | 70,699,223 | 69,522,658 |
| Cash, cash equivalents, and restricted cash, end of period | $98,310,144 | $70,699,223 |
| Noncash investing and financing activities: | ||
| Conversion of warrant liabilities to stockholders' equity | $2,228,813 | $— |
| Lease liabilities arising from obtaining right-of-use assets | — | 1,059,263 |
| Supplementary disclosures: | ||
| Interest paid | $14,046,830 | $16,362,536 |
| Income taxes paid | 4,765,512 | 452,426 |
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