Sezzle reports Q3 net income $4.3M, UMS down 8.5% YoY, new $100M credit facility

Sezzle Inc.

2022-Q3 EPS reported -$0.19 revenue$87,294,249

Net income of US$4.3M in Q3 2022 (vs net loss of US$28.0M in Q1 2022) includes US$11M Zip termination fee.
Total Income grew 6.8% YoY to US$30.4M; UMS declined 8.5% YoY to US$421.5M as company prioritizes profitability.
Provision for uncollectible accounts improved to 1.3% of UMS (lowest since Q2 2020); transaction expense hit record low 2.2% of UMS.
New US$100M receivables funding facility with Bastion extends liquidity into 2024; cash on hand US$58.8M.
Sezzle Premium surpassed 100k active subscribers; company expects annualized $60M in revenue and cost savings from initiatives.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sezzle Inc. reported third quarter ended 30 September 2022 (3Q22) results: revenue US$30.4M, net income US$4.3M.

Period: third quarter ended 30 September 2022 (3Q22)
Revenue: US$30.4M
Net income: US$4.3M
Result: preliminary results

Exact text from the filing

industry, is pleased to provide the market with an update on key financial metrics for the third quarter ended 30 September 2022 (3Q22).1 • 3Q22 Total Income grew 6.8% YoY to US$30.4M (A$47.3M2), climbing to 7.2% (a new high) of Underlying Merchant Sales (UMS). • As a percentage of UMS, the provision for uncollectible accounts receivable declined 92bps YoY to

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Source: SEC EDGAR

accession 0001662991-22-000039

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