$SEZL
Sezzle Inc.

2023 Q3 Form 10-Q Financial Statement

#000166299123000125 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $40.84M $34.94M
YoY Change 34.32% 19.44%
Cost Of Revenue $9.937M $7.946M
YoY Change 6.62% -21.45%
Gross Profit $30.91M $26.99M
YoY Change 46.56% 41.05%
Gross Profit Margin 75.67% 77.26%
Selling, General & Admin $2.184M $1.698M
YoY Change -4.53% -59.59%
% of Gross Profit 7.07% 6.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $217.7K $206.1K
YoY Change 5.32% -5.73%
% of Gross Profit 0.7% 0.76%
Operating Expenses $2.184M $1.698M
YoY Change -4.53% -59.59%
Operating Profit $5.350M $3.763M
YoY Change -17.69% -127.77%
Interest Expense $4.143M $3.933M
YoY Change 89.02% 135.56%
% of Operating Profit 77.45% 104.52%
Other Income/Expense, Net $14.56K $1.079M
YoY Change -69.47% 594.46%
Pretax Income $1.310M $1.160M
YoY Change -69.92% -107.7%
Income Tax $15.87K $20.53K
% Of Pretax Income 1.21% 1.77%
Net Earnings $1.294M $1.140M
YoY Change -70.21% -107.56%
Net Earnings / Revenue 3.17% 3.26%
Basic Earnings Per Share $0.23 $0.20
Diluted Earnings Per Share $0.23 $0.20
COMMON SHARES
Basic Shares Outstanding 5.679M shares 5.613M shares
Diluted Shares Outstanding 5.730M shares 5.656M shares

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $65.15M $62.09M
YoY Change 12.57% 0.01%
Cash & Equivalents $65.15M $62.09M
Short-Term Investments
Other Short-Term Assets $6.449M $4.871M
YoY Change 44.46% 32.86%
Inventory
Prepaid Expenses
Receivables $102.5M $83.77M
Other Receivables $2.056M $1.957M
Total Short-Term Assets $176.2M $152.7M
YoY Change 12.31% -3.38%
LONG-TERM ASSETS
Property, Plant & Equipment $166.3K $205.3K
YoY Change -56.4% -56.41%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $632.2K $693.7K
YoY Change 172.52% 185.19%
Total Long-Term Assets $3.700M $2.594M
YoY Change 80.42% 22.52%
TOTAL ASSETS
Total Short-Term Assets $176.2M $152.7M
Total Long-Term Assets $3.700M $2.594M
Total Assets $179.9M $155.3M
YoY Change 13.19% -3.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $68.18M $67.42M
YoY Change -18.6% -20.97%
Accrued Expenses $7.833M $5.022M
YoY Change -19.42% -59.84%
Deferred Revenue $2.070M $1.803M
YoY Change 289.81%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $83.44M $78.68M
YoY Change -15.95% -23.36%
LONG-TERM LIABILITIES
Long-Term Debt $75.39M $57.63M
YoY Change 39.78% 0.51%
Other Long-Term Liabilities $1.516M $2.019M
YoY Change 38075.06% 40858.38%
Total Long-Term Liabilities $1.516M $2.019M
YoY Change -97.19% -96.48%
TOTAL LIABILITIES
Total Short-Term Liabilities $83.44M $78.68M
Total Long-Term Liabilities $1.516M $2.019M
Total Liabilities $161.9M $139.0M
YoY Change 5.69% -13.12%
SHAREHOLDERS EQUITY
Retained Earnings -$160.5M -$161.8M
YoY Change -3.41% -5.12%
Common Stock $2.085K $2.084K
YoY Change 0.24% 0.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $17.97M $16.28M
YoY Change
Total Liabilities & Shareholders Equity $179.9M $155.3M
YoY Change 13.19% -3.03%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $1.294M $1.140M
YoY Change -70.21% -107.56%
Depreciation, Depletion And Amortization $217.7K $206.1K
YoY Change 5.32% -5.73%
Cash From Operating Activities -$13.15M $6.551M
YoY Change -1483.61% -487.92%
INVESTING ACTIVITIES
Capital Expenditures $298.1K $418.3K
YoY Change -236.84% -315.09%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$298.1K -$418.3K
YoY Change 36.84% 115.09%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 17.25M -2.765M
YoY Change -545.23% -152.17%
NET CHANGE
Cash From Operating Activities -13.15M 6.551M
Cash From Investing Activities -298.1K -418.3K
Cash From Financing Activities 17.25M -2.765M
Net Change In Cash 3.802M 3.368M
YoY Change -221.0% -1.41%
FREE CASH FLOW
Cash From Operating Activities -$13.15M $6.551M
Capital Expenditures $298.1K $418.3K
Free Cash Flow -$13.45M $6.133M
YoY Change -1251.11% -510.42%

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EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-242677 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-6309150 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-15350842 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69522658 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
78890168 usd
us-gaap Interest Paid Net
InterestPaidNet
7682014 usd
us-gaap Interest Paid Net
InterestPaidNet
2995626 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
72599 usd
us-gaap Income Taxes Paid
IncomeTaxesPaid
18769 usd
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassifications</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Certain prior period amounts have been reclassified to conform with the current period presentation format.</span></div>
CY2022 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
29437179 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
5040041 usd
CY2023Q2 us-gaap Revenues
Revenues
34937665 usd
CY2022Q2 us-gaap Revenues
Revenues
29252038 usd
CY2023Q2 us-gaap Revenues
Revenues
34937665 usd
CY2022Q2 us-gaap Revenues
Revenues
29252038 usd
us-gaap Revenues
Revenues
69611096 usd
CY2023Q2 us-gaap Revenue Not From Contract With Customer Excluding Interest Income
RevenueNotFromContractWithCustomerExcludingInterestIncome
11456157 usd
CY2022Q2 us-gaap Revenue Not From Contract With Customer Excluding Interest Income
RevenueNotFromContractWithCustomerExcludingInterestIncome
535691 usd
us-gaap Revenue Not From Contract With Customer Excluding Interest Income
RevenueNotFromContractWithCustomerExcludingInterestIncome
21910838 usd
CY2023Q2 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
3164817 usd
CY2022Q4 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
4068332 usd
CY2023Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1802822 usd
CY2022Q4 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
1516228 usd
szl Consumer Installment Payment Plans Number Of Installments
ConsumerInstallmentPaymentPlansNumberOfInstallments
4 installment
szl Financing Receivables Receivables Due Duration
FinancingReceivablesReceivablesDueDuration
P42D
CY2023Q2 szl Number Of Product Segments
NumberOfProductSegments
1 product
CY2023Q2 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
93431046 usd
CY2023Q2 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
3164817 usd
CY2023Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
90266229 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
23114173 usd
CY2022 szl Financing Receivable Allowance For Credit Loss Write Off Net
FinancingReceivableAllowanceForCreditLossWriteOffNet
42327901 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10223451 usd
CY2022Q4 szl Financing Receivable After Allowance For Credit Loss Before Deferred Income
FinancingReceivableAfterAllowanceForCreditLossBeforeDeferredIncome
97426736 usd
CY2022Q4 us-gaap Financing Receivable Deferred Income
FinancingReceivableDeferredIncome
4068332 usd
CY2022Q4 us-gaap Notes Receivable Net
NotesReceivableNet
93358404 usd
szl Financing Receivable Weighted Average Days Outstanding
FinancingReceivableWeightedAverageDaysOutstanding
P34D
CY2023Q2 szl Financing Receivable Credit Quality Score Minimum Order Threshold
FinancingReceivableCreditQualityScoreMinimumOrderThreshold
2 order
CY2023Q2 us-gaap Financing Receivable Originated In Current Fiscal Year
FinancingReceivableOriginatedInCurrentFiscalYear
90033520 usd
CY2023Q2 us-gaap Financing Receivable Originated In Fiscal Year Before Latest Fiscal Year
FinancingReceivableOriginatedInFiscalYearBeforeLatestFiscalYear
232709 usd
CY2023Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
90266229 usd
CY2023Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
90266229 usd
CY2022Q4 us-gaap Financing Receivable Before Allowance For Credit Loss And Fee
FinancingReceivableBeforeAllowanceForCreditLossAndFee
107650187 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10223451 usd
CY2022Q4 szl Financing Receivable After Allowance For Credit Loss Before Deferred Income
FinancingReceivableAfterAllowanceForCreditLossBeforeDeferredIncome
97426736 usd
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19701333 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
10223451 usd
CY2023Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
4296434 usd
CY2022Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
7890809 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
5990798 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
5058431 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
13885444 usd
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
11177441 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1004324 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
1418203 usd
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
2335861 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
6494092 usd
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
15124901 usd
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
6494092 usd
us-gaap Financing Receivable Year One Originated Current Fiscal Year Writeoff
FinancingReceivableYearOneOriginatedCurrentFiscalYearWriteoff
2716658 usd
us-gaap Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff
FinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearWriteoff
8445309 usd
us-gaap Financing Receivable Year Three Originated Two Years Before Current Fiscal Year Writeoff
FinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearWriteoff
14802 usd
us-gaap Financing Receivable Year Four Originated Three Years Before Current Fiscal Year Writeoff
FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearWriteoff
498 usd
us-gaap Financing Receivable Year Five Originated Four Years Before Current Fiscal Year Writeoff
FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearWriteoff
174 usd
us-gaap Financing Receivable Revolving Writeoff
FinancingReceivableRevolvingWriteoff
11177441 usd
szl Financing Receivable Year One Originated Current Fiscal Year Recoveries
FinancingReceivableYearOneOriginatedCurrentFiscalYearRecoveries
2018 usd
szl Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Recoveries
FinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearRecoveries
1465674 usd
szl Financing Receivable Year Three Originated Two Years Before Current Fiscal Year Recoveries
FinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearRecoveries
619258 usd
szl Financing Receivable Year Four Originated Three Years Before Current Fiscal Year Recoveries
FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearRecoveries
190583 usd
szl Financing Receivable Year Five Originated Four Years Before Current Fiscal Year Recoveries
FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearRecoveries
58328 usd
szl Financing Receivable Revolving Recoveries
FinancingReceivableRevolvingRecoveries
2335861 usd
szl Financing Receivable Year One Originated Current Fiscal Year Net Writeoff
FinancingReceivableYearOneOriginatedCurrentFiscalYearNetWriteoff
2714640 usd
szl Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Net Writeoff
FinancingReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYearNetWriteoff
6979635 usd
szl Financing Receivable Year Three Originated Two Years Before Current Fiscal Year Net Writeoff
FinancingReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYearNetWriteoff
-604456 usd
szl Financing Receivable Year Four Originated Three Years Before Current Fiscal Year Net Writeoff
FinancingReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYearNetWriteoff
-190085 usd
szl Financing Receivable Year Five Originated Four Years Before Current Fiscal Year Net Writeoff
FinancingReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYearNetWriteoff
-58154 usd
szl Financing Receivable Revolving Net Writeoff
FinancingReceivableRevolvingNetWriteoff
8841580 usd
CY2023Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1957103 usd
CY2022Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
2532710 usd
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
67422648 usd
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
83020739 usd
CY2023Q2 us-gaap Other Commitment
OtherCommitment
6000000 usd
CY2022Q4 us-gaap Other Commitment
OtherCommitment
6100000 usd
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5655741 shares
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5451490 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5603919 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5417671 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.77
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.52
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-7.95
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.20
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.77
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-7.95
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
219103 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
287643 shares
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

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szl-20230630_cal.xml Edgar Link unprocessable
szl-20230630_def.xml Edgar Link unprocessable
0001662991-23-000125-index-headers.html Edgar Link pending
0001662991-23-000125-index.html Edgar Link pending
0001662991-23-000125.txt Edgar Link pending
0001662991-23-000125-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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szl-20230630.htm Edgar Link pending
szl-20230630.xsd Edgar Link pending
szl-20230630_g1.jpg Edgar Link pending
szl-20230630_lab.xml Edgar Link unprocessable
szl-20230630_htm.xml Edgar Link completed
szl-20230630_pre.xml Edgar Link unprocessable