Sezzle Inc. (NASDAQ: SEZL), a digital payment platform, announced robust third-quarter results for 2024, reporting a 40.6% year-over-year increase in Underlying Merchant Sales (UMS) to $659.9 million and a 71.3% jump in revenue to $70 million. The company’s new banking program with WebBank, launched at the end of September, has enabled Sezzle to expand its product offerings, including the On-Demand pay-in-4 product.
Operating income surged 289.6% from the previous year to reach $20.8 million, with net income rising to $15.4 million, or $2.62 per diluted share, compared to $0.23 in Q3 2023. Adjusted net income also set a record at $17.3 million. Following this strong performance, Sezzle has raised its FY2024 revenue growth guidance to 55%, up from the previous estimate of 35%-40%, as it prepares for continued momentum and holiday-season demand.
With cash reserves of $88.3 million and upcoming participation in major investor conferences, Sezzle continues to strengthen its market position and explore capital return options for shareholders.
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