2021 Q4 Form 10-Q Financial Statement

#000166299121000010 Filed on November 15, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $60.94M $28.48M $38.01M
YoY Change 60.35% 78.9% 230.39%
Cost Of Revenue $24.98M $13.78M
YoY Change 81.23% 156.76%
Gross Profit $35.96M $24.22M
YoY Change 48.46% 294.82%
Gross Profit Margin 59.01% 63.73%
Selling, General & Admin $74.71M $4.320M $45.57M
YoY Change 63.95% 130.86% 258.01%
% of Gross Profit 207.76% 188.14%
Research & Development $64.00K
YoY Change -72.53%
% of Gross Profit 0.26%
Depreciation & Amortization $410.1K $243.7K
YoY Change 68.24% 64.79%
% of Gross Profit 1.14% 1.01%
Operating Expenses $77.99M $4.320M $45.88M
YoY Change 70.0% 130.86% 249.96%
Operating Profit -$42.03M -$17.69M -$21.66M
YoY Change 94.08% 151.32% 210.5%
Interest Expense -$2.620M $1.173M -$2.239M
YoY Change 17.01% 2.09% 75.05%
% of Operating Profit
Other Income/Expense, Net -$80.47K $37.22K -$290.4K
YoY Change -72.29% 73.13% 620.65%
Pretax Income -$44.74M -$18.82M -$24.19M
YoY Change 84.97% 130.53% 191.6%
Income Tax $17.94K $11.20K $22.59K
% Of Pretax Income
Net Earnings -$44.76M -$18.83M -$24.21M
YoY Change 84.87% 130.68% 191.45%
Net Earnings / Revenue -73.44% -66.13% -63.7%
Basic Earnings Per Share -$0.09
Diluted Earnings Per Share -$220.2K -$0.09 -$124.4K
COMMON SHARES
Basic Shares Outstanding 203.9M shares 202.3M shares
Diluted Shares Outstanding 202.3M shares

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $76.98M $84.29M
YoY Change -8.66% 141.06%
Cash & Equivalents $76.98M $43.97M $84.29M
Short-Term Investments
Other Short-Term Assets $5.236M $6.504M
YoY Change -19.49% 157.86%
Inventory
Prepaid Expenses
Receivables $139.2M $84.27M
Other Receivables $5.084M $1.462M $1.403M
Total Short-Term Assets $221.3M $167.1M $173.0M
YoY Change 27.91% 174.64%
LONG-TERM ASSETS
Property, Plant & Equipment $662.5K $651.6K $375.2K
YoY Change 76.57% -62.54%
Goodwill
YoY Change
Intangibles $789.1K $537.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $233.8K $21.41K $32.54K
YoY Change 618.42% -52.96%
Total Long-Term Assets $2.113M $1.621M $1.110M
YoY Change 90.27% -28.41%
TOTAL ASSETS
Total Short-Term Assets $221.3M $167.1M $173.0M
Total Long-Term Assets $2.113M $1.621M $1.110M
Total Assets $223.4M $168.7M $174.1M
YoY Change 28.31% 169.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.52M $90.74M $60.93M
YoY Change 58.4% 358.68%
Accrued Expenses $7.997M $11.31M $6.681M
YoY Change 19.7% 224.39%
Deferred Revenue $0.00
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $107.6M $104.9M $68.37M
YoY Change 57.31% 337.95%
LONG-TERM LIABILITIES
Long-Term Debt $77.96M $41.30M
YoY Change 88.78% 95.63%
Other Long-Term Liabilities $0.00 $0.00 $4.483M
YoY Change -100.0% 796.38%
Total Long-Term Liabilities $0.00 $0.00 $4.483M
YoY Change -100.0% -79.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $107.6M $104.9M $68.37M
Total Long-Term Liabilities $0.00 $0.00 $4.483M
Total Liabilities $185.6M $108.9M $114.2M
YoY Change 62.6% 206.69%
SHAREHOLDERS EQUITY
Retained Earnings -$127.4M -$101.5M -$52.23M
YoY Change 143.91%
Common Stock $2.044K $2.036K $1.970K
YoY Change 3.76%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.691M $2.705M $875.2K
YoY Change 321.75%
Treasury Stock Shares 660.1K shares 463.8K shares 152.0K shares
Shareholders Equity $37.79M $59.81M $59.96M
YoY Change
Total Liabilities & Shareholders Equity $223.4M $168.7M $174.1M
YoY Change 28.31% 169.76%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income -$44.76M -$18.83M -$24.21M
YoY Change 84.87% 130.68% 191.45%
Depreciation, Depletion And Amortization $410.1K $243.7K
YoY Change 68.24% 64.79%
Cash From Operating Activities -$66.54M -$27.34M
YoY Change 143.42% 103.23%
INVESTING ACTIVITIES
Capital Expenditures -$747.7K -$486.9K
YoY Change 53.58% 68.11%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$747.7K -$486.9K
YoY Change 53.58% 68.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 86.56M 60.75M
YoY Change 42.48% 39.95%
NET CHANGE
Cash From Operating Activities -66.54M -27.34M
Cash From Investing Activities -747.7K -486.9K
Cash From Financing Activities 86.56M 60.75M
Net Change In Cash 19.27M 32.93M
YoY Change -41.49% 10.98%
FREE CASH FLOW
Cash From Operating Activities -$66.54M -$27.34M
Capital Expenditures -$747.7K -$486.9K
Free Cash Flow -$65.79M -$26.85M
YoY Change 145.05% 104.01%

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4 installment
CY2021Q3 us-gaap Loans And Leases Receivable Deferred Income
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us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
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Sezzle maintains an allowance for uncollectible accounts at a level necessary to absorb estimated probable losses on principal and reschedule fee receivables from consumers. Any amounts delinquent after 90 days are charged-off with an offsetting reversal of the allowance for doubtful accounts through the provision for uncollectible accounts. Additionally, amounts identified as no longer collectible—such as when a consumer becomes deceased or bankrupt—are charged off immediately. Principal payments recovered after the 90 day charge-off period are recognized as a reduction to the allowance for uncollectible accounts in the period the receivable is recovered. Sezzle has not changed the methodology for estimating its allowance for uncollectible accounts during the nine months ended September 30, 2021.
CY2021Q3 us-gaap Notes Receivable Gross
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szl Note Receivable Weighted Average Days Outstanding
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CY2021Q3 us-gaap Other Receivables Net Current
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1461558 USD
CY2020Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1403306 USD
szl Allowance For Credit Loss Receivable Other Current Recoveries
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CY2020 szl Allowance For Credit Loss Receivable Other Current Recoveries
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CY2021Q3 us-gaap Operating Lease Expense
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CY2020Q3 us-gaap Operating Lease Expense
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us-gaap Asset Impairment Charges
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7850 USD
us-gaap Operating Lease Expense
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us-gaap Operating Lease Expense
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us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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142597 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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37647 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
70388 USD
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2275 USD
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
105760 USD
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y8M12D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0475
CY2021Q3 us-gaap Asset Impairment Charges
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5474 USD
CY2020Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
2556 USD
us-gaap Asset Impairment Charges
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5474 USD
CY2021Q3 us-gaap Accounts Payable Current
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90735441 USD
CY2020Q4 us-gaap Accounts Payable Current
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60933272 USD
CY2021Q2 szl Adjustments To Additional Paid In Capital Conversion Of Liability Classified Incentive Award
AdjustmentsToAdditionalPaidInCapitalConversionOfLiabilityClassifiedIncentiveAward
9293035 USD

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