Sezzle (SEZL) Q4 2024 earnings summary

Executive summary

• Achieved over 100% year-over-year revenue growth in Q4 2024 and 70.1% for the year, with net income up more than tenfold to $78.5M and adjusted net income of $66.2M.

• Launched On-Demand product and expanded banking partnership with WebBank, driving user growth and new merchant signings.

• MODS (Monthly On-Demand and Subscriber Users) reached 707,000 at year-end, up 130% year-over-year, reflecting strong user engagement.

• Recognized by Forbes and other outlets for innovation and growth in 2024 and 2025.

Financial highlights

• Q4 revenue was $98.2M, up 100% year-over-year; FY2024 revenue reached $271.1M, up 70.1%.

• Net income for Q4 was $25.4M (25.8% margin); FY2024 net income was $78.5M (29.0% margin), with adjusted EBITDA of $88.4M (32.6% margin).

• GMV for FY2024 was $2,540.2M, up 39.2% year-over-year.

• Cash balance at year-end was $98.3M, with $39M unused borrowing capacity.

• Return on equity reached 142.9% for FY2024.

Outlook and guidance

• FY2025 guidance: revenue expected to grow 25–30%, net income projected at $80.4M, and diluted EPS raised to $13.25.

• Pre-tax net income growth for 2025 projected to exceed 55%.

• Effective income tax rate expected to normalize to 25% in 2025.

• Principal loss rate for 2025 expected between 2.5%-3% of GMV.