Sezzle (SEZL) AGM 2024 summary

Opening remarks and agenda

• Meeting opened as the first AGM since NASDAQ listing, with quorum confirmed and introductions of executive team and board members.

• Meeting conducted remotely, with notice and materials distributed per bylaws and SEC requirements.

• Voting on proposals conducted via online platform, with instructions provided for participation.

Financial performance review

• Q3 revenue rose 71.3% year-over-year, driven by increased consumer purchase frequency and a subscriber base of 529,000, up 67,000 from last quarter.

• Net income for Q3 was $15.4 million (22.1% margin); adjusted net income reached $17.3 million (24.7% margin).

• Achieved 71% revenue growth, 55% gross margin, and 25% adjusted net income margin, surpassing Rule of 100 targets.

• 2024 guidance raised following WebBank partnership launch; adjusted EPS growth of at least 20% expected in 2025 despite a 20% tax headwind.

Board and executive committee updates

• Board members and executive team introduced, including independent directors and auditor representative.