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Dec 31, 2025
Sezzle Q4 2025 Earnings Report
Sezzle Q4 2025 Earnings Report was released, showing record quarterly GMV and significant growth in net income.
Key Takeaways
Sezzle delivered a strong fourth quarter with GMV reaching a record $1.2 billion and total revenue increasing 32.2% year-over-year. The company demonstrated significant operating leverage, with net income rising 68.3% and adjusted EBITDA margin expanding to 44.9%. Growth was primarily driven by the scaling of subscription offerings and high consumer engagement during the holiday season.
GMV reached a quarterly high of $1.2 billion, representing a 35.3% year-over-year increase.
Net Income per Diluted Share rose 72.9% year-over-year to $1.21 for the quarter.
Monthly On-Demand and Subscribers (MODS) reached a record 918,000, with 134,000 additions in Q4.
Operating Margin improved 11.1 percentage points to 42.5% of Total Revenue due to improved transaction costs and operating leverage.
Forward Guidance
Sezzle increased its FY2026 outlook, projecting continued revenue growth and higher profitability through its 'all-in-one app' vision.
Positive Outlook
- Increased FY2026 Adjusted Net Income per Diluted Share guidance to $4.70.
- Introduced FY2026 Total Revenue growth guidance of 25% to 30%.
- Projected FY2026 Adjusted Net Income of $170 million.
- Launch of 'Sezzle Mobile' wireless service to drive recurring utility.
- Introduction of AI-powered 'Agentic Commerce' shopping assistant.
Challenges Ahead
- Ongoing professional services expenses related to antitrust litigation.
- Costs associated with bank charter application.
- Increased marketing spend required to support subscriber acquisition.
- Potential impact of macro-economic conditions on consumer spending.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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