2022 Q1 Form 10-Q Financial Statement

#000166299122000015 Filed on May 16, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $27.63M $26.03M
YoY Change 6.16%
Cost Of Revenue $11.79M
YoY Change
Gross Profit $15.84M
YoY Change
Gross Profit Margin 57.32%
Selling, General & Admin $7.743M $2.384M
YoY Change 224.86%
% of Gross Profit 48.88%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $224.0K $163.4K
YoY Change 37.07%
% of Gross Profit 1.41%
Operating Expenses $7.743M $2.384M
YoY Change 224.86%
Operating Profit -$26.12M -$8.832M
YoY Change 195.79%
Interest Expense $1.615M $1.354M
YoY Change 19.33%
% of Operating Profit
Other Income/Expense, Net -$228.3K -$57.04K
YoY Change 300.33%
Pretax Income -$27.97M -$11.34M
YoY Change 146.73%
Income Tax $21.15K $18.22K
% Of Pretax Income
Net Earnings -$27.99M -$11.35M
YoY Change 146.52%
Net Earnings / Revenue -101.28% -43.62%
Basic Earnings Per Share -$0.14 -$0.06
Diluted Earnings Per Share -$0.14 -$0.06
COMMON SHARES
Basic Shares Outstanding 204.6M shares 197.1M shares
Diluted Shares Outstanding 204.6M shares 197.1M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $58.37M
YoY Change
Cash & Equivalents $58.37M $67.38M
Short-Term Investments
Other Short-Term Assets $5.699M
YoY Change
Inventory
Prepaid Expenses
Receivables $115.1M
Other Receivables $2.126M
Total Short-Term Assets $176.7M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $607.1K
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $244.5K
YoY Change
Total Long-Term Assets $2.213M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $176.7M
Total Long-Term Assets $2.213M
Total Assets $178.9M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $95.27M
YoY Change
Accrued Expenses $13.90M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $114.0M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $52.15M
YoY Change
Other Long-Term Liabilities $53.60K
YoY Change
Total Long-Term Liabilities $52.20M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $114.0M
Total Long-Term Liabilities $52.20M
Total Liabilities $166.2M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$155.4M
YoY Change
Common Stock $2.069K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.994M
YoY Change
Treasury Stock Shares 878.0K shares
Shareholders Equity $12.73M $51.13M
YoY Change
Total Liabilities & Shareholders Equity $178.9M
YoY Change

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$27.99M -$11.35M
YoY Change 146.52%
Depreciation, Depletion And Amortization $224.0K $163.4K
YoY Change 37.07%
Cash From Operating Activities $7.809M -$5.409M
YoY Change -244.38%
INVESTING ACTIVITIES
Capital Expenditures $56.49K $189.8K
YoY Change -70.24%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$374.2K -$389.3K
YoY Change -3.89%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $303.1K $579.2K
YoY Change -47.66%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$26.20M -$16.06M
YoY Change 63.18%
NET CHANGE
Cash From Operating Activities $7.809M -$5.409M
Cash From Investing Activities -$374.2K -$389.3K
Cash From Financing Activities -$26.20M -$16.06M
Net Change In Cash -$18.77M -$21.86M
YoY Change -14.13%
FREE CASH FLOW
Cash From Operating Activities $7.809M -$5.409M
Capital Expenditures $56.49K $189.8K
Free Cash Flow $7.753M -$5.599M
YoY Change -238.47%

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CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-374169 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-389303 USD
CY2022Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
0 USD
CY2021Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
26666667 USD
CY2022Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
26000000 USD
CY2021Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1617720 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
579212 USD
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-26202070 USD
CY2021Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
39666667 USD
CY2022Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2022Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
CY2021Q1 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
1000000 USD
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
82526 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
70584 USD
CY2022Q1 szl Proceeds From Collection Of Stock Subscriptions Related To Stock Option Exercises
ProceedsFromCollectionOfStockSubscriptionsRelatedToStockOptionExercises
18545 USD
CY2021Q1 szl Proceeds From Collection Of Stock Subscriptions Related To Stock Option Exercises
ProceedsFromCollectionOfStockSubscriptionsRelatedToStockOptionExercises
69440 USD
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
303141 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-16056908 USD
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
456896 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
129389 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-18766899 USD
CY2022Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2021Q4 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
5240919 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-21855211 USD
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78890168 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
89103903 USD
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
60580165 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67378081 USD
CY2022Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2021Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
139676 USD
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
1567639 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
1488369 USD
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2021Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
8326 USD
CY2021Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 USD
CY2022Q1 szl Financing Receivable Installment Payment Plan Number Of Installments
FinancingReceivableInstallmentPaymentPlanNumberOfInstallments
4 installment
CY2022Q1 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
4611497 USD
CY2022Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
134799279 USD
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
162341675 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
23114173 USD
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
11133146 USD
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
10465595 USD
CY2021 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
52621682 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1427547 USD
CY2021 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
6153728 USD
CY2022Q1 szl Financing Receivable Allowance For Credit Loss Write Off Net
FinancingReceivableAllowanceForCreditLossWriteOffNet
13878435 USD
CY2021 szl Financing Receivable Allowance For Credit Loss Write Off Net
FinancingReceivableAllowanceForCreditLossWriteOffNet
40640655 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19701333 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
23114173 USD
CY2022Q1 szl Financing Receivable After Allowance For Credit Loss Before Deferred Income
FinancingReceivableAfterAllowanceForCreditLossBeforeDeferredIncome
115097946 USD
CY2021Q4 szl Financing Receivable After Allowance For Credit Loss Before Deferred Income
FinancingReceivableAfterAllowanceForCreditLossBeforeDeferredIncome
139227502 USD
CY2022Q1 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
4611497 USD
CY2021Q4 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
5240919 USD
CY2022Q1 us-gaap Notes Receivable Net
NotesReceivableNet
110486449 USD
CY2021Q4 us-gaap Notes Receivable Net
NotesReceivableNet
133986583 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
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 three months ended March 31, 2022.
CY2022Q1 szl Note Receivable Weighted Average Days Outstanding
NoteReceivableWeightedAverageDaysOutstanding
P34D
CY2022Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
134799279 USD
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19701333 USD
CY2022Q1 szl Financing Receivable After Allowance For Credit Loss Before Deferred Income
FinancingReceivableAfterAllowanceForCreditLossBeforeDeferredIncome
115097946 USD
CY2021Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
162341675 USD
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
23114173 USD
CY2021Q4 szl Financing Receivable After Allowance For Credit Loss Before Deferred Income
FinancingReceivableAfterAllowanceForCreditLossBeforeDeferredIncome
139227502 USD
CY2022Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2125753 USD
CY2021Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
5084099 USD
CY2022Q1 szl Allowance For Credit Loss Receivable Other Current Recoveries
AllowanceForCreditLossReceivableOtherCurrentRecoveries
327068 USD
CY2021 szl Allowance For Credit Loss Receivable Other Current Recoveries
AllowanceForCreditLossReceivableOtherCurrentRecoveries
1273319 USD
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
108659 USD
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
137180 USD
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
105266 USD
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
154022 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
134842 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
90822 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12540 USD
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
31187 USD
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
207017 USD
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y4M24D
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0525
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0525
CY2022Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
95273209 USD
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
96516668 USD
CY2022Q1 us-gaap Other Commitment
OtherCommitment
7700000 USD
CY2021Q4 us-gaap Other Commitment
OtherCommitment
6700000 USD

Files In Submission

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0001662991-22-000015-index-headers.html Edgar Link pending
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0001662991-22-000015.txt Edgar Link pending
0001662991-22-000015-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
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