Sezzle (SEZL) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 42.6% YoY to $166.5M, net income increased 79.3% to $47.8M, and TTV grew 34.9% to $1,398.2M.

• Active subscribers reached 955,000, up 68.1% YoY; quarterly transaction frequency increased to a record 7.8x from 6.5x.

• FY2026 guidance was raised to ~42.5% revenue growth, $190M adjusted net income and $5.45–$5.50 adjusted diluted EPS; preliminary FY2027 adjusted EPS guidance is $7.20.

Financial highlights

• Q3 revenue was $166.5M versus $116.8M a year earlier; operating income reached $64.3M and diluted EPS was $1.38.

• Adjusted net income rose 89.9% YoY to $47.7M; adjusted EBITDA increased 77.1% to $70.2M, with a 42.1% margin versus 33.9%.

• Revenue less transaction-related costs rose to $107.7M from $63.3M; transaction-related costs were $58.8M, including $3.7M in payment-network incentives.

• 9M revenue was $451.7M versus $320.4M; net income was $139.9M versus $90.4M.

• Subscription revenue was $41.3M in Q3 versus $24.3M a year earlier; lending-based income was $73.5M and customer-contract revenue was $93.0M.

Outlook and guidance

• FY2026 revenue growth guidance rose from 35% to ~42.5%, and adjusted net income guidance increased from $185M to $190M.

• FY2026 adjusted net income per diluted share guidance rose from $5.25 to $5.45–$5.50; preliminary FY2027 adjusted EPS guidance is $7.20.

• FY2026 provision for credit losses guidance is ~2.5% of TTV, revised from 2.5%–3.0%.

• Adjusted guidance includes estimated corporate strategic project costs and other income and expense, with related tax effects; prior guidance is not directly comparable.