Sezzle (SEZL) Q3 2025 Earnings
How Did SEZL Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +1.90%.
Did SEZL Beat Earnings? Q3 2025 Results
Yes. Sezzle reported Q3 2025 earnings of $0.71 a share on Nov 5, 2025, beating the $0.65 consensus estimate by 9.2%. Revenue was $116.8M against a $104.7M estimate.
Sezzle posted a standout third quarter, with adjusted earnings per diluted share of $0.71 beating the $0.65 consensus by 9.23% and revenue of $116.80 million clearing estimates by 11.55% as the buy-now-pay-later platform continued its rapid expansion. Revenue climbed 67.0% year-over-year, powered primarily by a 58.7% surge in Gross Merchandise Volume, which crossed the $1.00 billion threshold for the quarter, while consumer purchase frequency rose to 6.5 times from 5.4 times a year ago, reflecting stronger platform engagement. GAAP net income grew 72.7% to $26.67 million, and adjusted EBITDA expanded 74.6% to $39.62 million, with management tightening its full-year provision for credit losses guidance to 2.5%-2.75% of GMV, a sign of increased underwriting confidence. Looking ahead, Sezzle raised its FY2025 adjusted net income per diluted share guidance to $3.38 from $3.25 and lifted adjusted EBITDA guidance to $175.00-$180.00 million, while introducing preliminary FY2026 adjusted EPS guidance of $4.35, even as the stock has retreated roughly 25% from recent highs despite its strong underlying earnings trajectory.
- GMV climbed 58.7% YoY to $1.0 billion driven by subscription products and On-Demand usage
- Consumer purchase frequency rose to 6.5x from 5.4x YoY
- Monthly Active Users grew 38% YoY
- Revenue-Generating Users by month rose 120% YoY
- Monthly Sessions climbed 78% YoY
- MODS reached 784,000, adding 36,000 incremental subscribers during the quarter
- Marketing and advertising spend increased to $8.8 million from $2.7 million in Q3 2024
- Operating leverage with non-transaction related expenses declining 2.9 ppt as % of revenue
“Our products continue to resonate with consumers, as we're seeing clear momentum in both engagement and scale. It's exciting to cross $1 billion in quarterly GMV for the first time, which reflects a growing loyal consumer base. We're sharpening our focus on proven results and long-term innovation, and we're looking forward to supporting shoppers with our tools this holiday season.”
Sezzle CEO, on the earnings call
What Was Sezzle's Outlook in Q3 2025?
For FY2025, Sezzle raised guidance: total revenue growth of 60%-65% YoY (unchanged), net income of $125.0 million, net income per diluted share of $3.52, adjusted net income per diluted share raised to $3.38 (from $3.25), and adjusted EBITDA raised to $175.0-$180.0 million (from $170.0-$175.0 million). Effective income tax rate expected at ~25% excluding discrete items. Provision for credit losses guidance tightened to 2.5%-2.75% of GMV (from 2.5%-3.0%). The company introduced preliminary FY2026 adjusted net income per diluted share guidance of $4.35, assuming ~25% effective income tax rate.
SEZL YoY Financials
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $116.8M | $70.0M | +67.0% |
| Operating Income | $35.6M | $20.8M | +70.6% |
| Net Income | $26.7M | $15.4M | +72.7% |
Figures from SEC filings and company reports. Not investment advice.