Slide 1: First Quarter 2025 Earnings Presentation
®sezzle The Responsible Way to Pay First Quarter 2025 Earnings Presentation May 7, 2025
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements This presentation (the “Presentation") contains summary information about the activities of Sezzle as of the date of this Presentation. The information in this Presentation is of a general nature and does not purport to be complete and
Slide 3: 1Q25 Snapshot
1Q25 Snapshot 1Q25 Results FY2025 Guidance GMV Growth (YoY) 64.1% > Prior Updated) Net Income Total Revenue Growth (YoY) 123.5% $80.4m $120.0m Net Income Per Diluted Share’ $9.9] $3.25 Net Income’ $36.2M Net Income Margin 54.5% 1Q25 Product Launches ~ Total Revenue Less Transaction Related j 5 : 70.
Slide 4: Product Expansions
Product Expansions Winning Over Consumers Introducing More Financial Tools While Improving the Shopping Experience Pricing Overview @ [Lv Wishlist Allows Consumers to save favorite items for easy access later Beate Sole Bude Troe Wirelage Eorbuce Price Comparison & aia Auto-Couponing (beta) . Help C
Slide 5: 658,000 Monthly On-Demand & Subscribers
658,000 Monthly On-Demand & Subscribers: (MODS?) Engagement Fueling Growth @sezzle e@=p On-Demand Premium (subscription) anywhere Anywhere (subscription) Pay-in-4 anywhere Visa is Access to 350+ Premium ° : Pay-in-4 anywhere Visa is accepted, with a one-time Merchants through Affiliate accepted incl
Slide 6: YoY Engagement Metrics
YoY Engagement Metrics Monthly On-Demand & Subscribers (MODS!) Quarterly Purchase Frequency (Average) +287k +1.6x es Ty || a YoY Active? Consumers Repeat Usage as a % of Total Orders (Cumulative) +5.49 + co I cco | 154% | on I wn | +00 BPs YoY YoY Unique Merchants® Shopped at by Consumers 1025 1924
Slide 7: QoQ Engagement Metrics
Last Twelve Months (LTM) QoQ Engagement Metrics Quarterly Purchase Frequency (Average) Active! Consumers Unique Merchants? Shopped at by Consumers 346,000 5.5) Gis 2,725,000 2,734,000 274,000 311.000 5.4x BX 725, 734, | 2,667,000 TTT Til. sal 2Q24 3Q24 4Q24 1Q25 2Q24 3Q24 4Q24 1925 2Q24° 3Q24 4Q24 1
Slide 8: YoY Progression Overview
YoY Progression Overview 1Q24 1Q25 YoY Change Total Revenue $47.0M $104.9M 123.3% Net Income $8.0M $36.2M 351.7% Adjusted Net Income! $9.4M $36.1M 286.1% >> > =» Adjusted EBITDA Margin? 31.9% 49.0% 17.1 Pts Total Revenue Less Transaction Related Costs? as a % of Total Revenue 55.5% 70.4% 15.1 Pts t
Slide 9: Gross Merchandise Volume (GMV) & Total Revenue
Gross Merchandise Volume (GMV) & Total Revenue @ sezzle | 1025 Presentation Gross Merchandise Volume (GMV) $855.4 $808.7 $659.9 = — a i LJ 1Q24 2Q24 3Q24 4Q24 1Q25 = GMV ¢ in millions) Total Revenue $98.2 $104.9 1Q24 2Q24 3Q24 4Q24 1Q25 mmm Total Revenue ($ in millions) % of GMV
Slide 10: Transaction Related Costs as a % of GMV
$21.0 e252] As a % of GMV $43.9 5% 4.5% 1Q24 2Q24 T ransa ctl on mms Transaction Related Costs ($ in millions) 3Q24 4Q24 1Q25 % of GMV Related Costs’ As a % of Total Revenue $43.9 1Q24 2Q24 mmm Transaction Related Costs ($ in millions) 3Q24 4Q24 1Q25 % of Total Revenue ‘Transaction Related Costs is
Slide 11: Transaction Related Costs
Transaction Related Costs’ Transaction Expense Provision for Credit Losses Net Interest Expense 2.0% }{ 1.9% H{ 19% LH 19% J $16.1 $15.3 y - : $18 gio7 = S128 Emm ee a 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 1Q24 2Q24 3Q24 4Q24 1Q25 lm Transaction Expense ($ in millions) mmm Provision for
Slide 12: Total Revenue Less Transaction Related Costs
65.0% 60.0% 55.0% 50.0% 45.0% Total Revenue Less Transaction Related Costs asa %of Total Revenue 40.0% 0.0% @ sezzle | 1025 Presentation Positioned for All Conditions LTM 1025 The short duration product povreeeeeenennd > [ ) results in quick portfolio turnover, H with repayment trends evident after
Slide 13: Total Revenue Less Transaction Related Costs
Total Revenue Less Transaction Related Costs As a % of GMV $73.9 $26.0 $32.2 $38.5 $54.3 LI eo LJ 1Q24 2Q24 3Q24 4Q24 1Q25 mmm Total Revenue Less Transaction Related Costs ($ in millions) % of GMV As a % of Total Revenue 55.3% $75.9 $54.3 $260 $822 = a 1Q24 2Q24 3Q24 4Q24 1Q25 lms Total Revenue Less
Slide 14: Non-Transaction Related Operating Expenses
% of Total Revenue $26.9 $26.9 $21.0 1Q24 2Q24 3Q24 4Q24 1Q25 N O Nn _ T ra al S a ct j O al mms Non-Transaction Related Operating Expenses ($ in millions) Related Operating Te on taraacon Bemnel One 1 Expenses % of Total Revenue 1Q24 2Q24 3Q24 4Q24 1Q25 Non-Transaction Related Operating Expenses ($
Slide 15: Net Income & Adjusted Net Income
Net Income & Adjusted Net Income Net Income Adjustments Adjusted Net Income! $36.2 $29.7 $25.4 $1.4 $1.8 $11 — — $15.4 ($0.0) $8.0 | ($16.6) 1024. 2Q24.- 3Q24. 4Q24_—s 1025 1024 2024. 3Q24. 4Q24— 1025 1024. 2Q24.- 3Q24. 4Q24_— «125 lm Net Income ($ in millions) = Adjustmenis ($ in millions) mmm Adju
Slide 16: Net Income & Adjusted EBITDA
Net Income & Adjusted EBITDA 2 Adjusted Net Income is a n @sezzle | 1025 Presentation BITDA is a non-GAAP financial measure. For a reconciliation Adjusted EBITD; \AP financial measure. For a reconciliation of Net Income and Adjusted Net Net Income & Adjusted Net Income? $29.7 ee $362 $56.1 $8.0 $9.4
Slide 17: Select Balance Sheet & Cash Flow Metrics
Select Balance Sheet & Cash Flow Metrics Balance Sheet Unaudited Audited Unaudited $ in Thousands Mar 31, 2024 Dec 31, 2024 Mar 31, 2025 Key Assets >) Cash and cash equivalents! $77,785 $73,185 $88,893 Restricted cash $4,400 $25,125 $31,976 Total cash $82,185 $98,310 $120,869 Total notes receivables
Slide 18: Outlook
Outlook 2024 Actual 2025 Guidance Updated 2025 Guidance \ Total Revenue 70% Growth 25% — 30% 60% — 65% Total Revenue Less Transaction Related Costs! 55.7% 55% — 60% 60% — 65% as a % of Total Revenue Effective Income Tax Rate (16.6%) ~25% ~25% Net Income $78.5M $80.4M $120.0M Net Income Per Diluted S
Slide 19: Appendices
@sezzle | 1025 Presentation Appendices
Slide 20: Appendix I: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix |: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Operating Income to Total Revenue Less Transaction Related Costs For the three months ended (in $ thousands) March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 Operating income $ 49,895
Slide 21: Appendix II: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix Il: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Operating Expenses to Transaction Related Costs For the three months ended (in $ thousands) March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 March 31, 2024 Operating expenses $ 55,017 $ 67,353 $ 49,
Slide 22: Appendix III: Reconciliation of GAAP to Non-GAAP Financial Measures
Appendix Ill: Reconciliation of GAAP to Non-GAAP Financial Measures Reconciliation of Net Income to Adjusted Net Income For the three months ended For the twelve months ended (in $ thousands: except per share amounts) March 31, 2025 December 31,2024 September 30, 2024 June 30, 2024 March 31, 2024 De
Slide 23: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement our operating results prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), we present the following non-GAAP financial measures: Total revenue less transaction related costs; transaction related costs; non-trans
Slide 24: Non-GAAP Financial Measures (Cont.)
Non-GAAP Financial Measures (Cont.) Additionally, we have included these non-GAAP measures because they are key measures used by our management to evaluate our operating performance, guide future operating plans, and make strategic decisions, including those relating to operating expenses and the al
Slide 25: The Responsible Way to Pay
®sezzle The Responsible Way to Pay