Sezzle Inc.

For the period ended Dec 31, 2025. Filed Feb 26, 2026.

About this filing

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.

FY2025 · Filed Feb 26, 2026

SEZL$150.84+0.9%Stored close · as of Nov 9, 2026

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Contents

Consolidated Balance Sheets

	As of December 31,
(in thousands, except per share amounts)	2025	2024
Assets
Current Assets
Cash and cash equivalents, including amounts held by variable interest entity (“VIE”) of $25,921 and $30,899, respectively	$64,054	$73,185
Restricted cash, current, including amounts held by VIE of $8,245 and $4,096, respectively	8,413	4,850
Notes receivable	283,400	190,665
Allowance for credit losses	(28,505)	(26,103)
Notes receivable, net, including amounts held by VIE of $237,062 and $152,174, respectively	254,895	164,562
Other receivables, net	6,186	3,629
Prepaid expenses and other current assets	18,316	11,393
Total current assets	351,864	257,619
Non-Current Assets
Internally developed intangible assets, net	3,331	2,442
Operating right-of-use assets	665	800
Restricted cash, non-current	30,134	20,275
Deferred tax asset, net of $0 and $3,742 valuation allowance, respectively	13,615	16,905
Other assets	620	331
Total Assets	$400,229	$298,372
Liabilities and Stockholders' Equity
Current Liabilities
Merchant accounts payable	$56,374	$68,967
Other payables, including amounts held by VIE of $1,476 and $1,103, respectively	6,908	7,455
Deferred revenue	5,431	4,234
Other current liabilities	21,053	25,021
Total current liabilities	89,766	105,677
Non-Current Liabilities
Operating lease liabilities	661	823
Line of credit, net of unamortized debt issuance costs of $1,268 and $1,008, respectively, held by VIE	139,991	103,992
Other non-current liabilities	—	45
Total Liabilities	230,418	210,537
Commitments and Contingencies (see Note 11)
Stockholders' Equity*
Common stock and additional paid-in capital, $0.00001 par value; 750,000 shares authorized; 35,130 and 34,786 shares issued, respectively; 33,798 and 33,735 shares outstanding, respectively	194,890	188,589
Treasury stock, at cost: 1,332 and 1,051 shares, respectively	(24,072)	(9,391)
Accumulated other comprehensive loss	(683)	(1,588)
Accumulated deficit	(324)	(89,775)
Total Stockholders' Equity	169,811	87,835
Total Liabilities and Stockholders' Equity	$400,229	$298,372

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.