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Sezzle cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$86.5M in Q3 2026 · $298M over twelve months

Operating cash flow$86.7M
Capital spending−$178K
Free cash flow+$86.5M
Cash / net income1.8×

Analysis

In Q3 2026, Sezzle generated $86.7M of operating cash flow and spent $178K on capital projects, leaving free cash flow of $86.5M. That is $23.0M more than in Q3 2025 ($63.6M).

Over the twelve months to Sep 30, 2026, operating cash flow was $299M; the largest uses were other investing ($240M), buybacks ($69.4M), net borrowing (+) / repaid (−) ($14.0M); besides operations, cash came from shares issued ($1.2M); the cash balance fell by $26.8M.

Operating cash flow was $86.7M against net income of $47.8M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: prepaid and other assets +$18.3M, other liabilities −$3.6M, accrued liabilities +$3.4M.

Free cash flow

Sezzle: free cash flow by quarterSezzle: free cash flow by quarter$57.4MQ4 2024$52.5MQ1 2025$22.7MQ2 2025$63.6MQ3 2025$70.6MQ4 2025$88.6MQ1 2026$51.8MQ2 2026$86.5MQ3 2026
Operating cash flow less capital spending.
Sezzle: operating cash flow against capital spendingSezzle: operating cash flow against capital spendingOperating cash flowCapital spending$57.4M$34KQ4 2024$52.5M$27KQ1 2025$23.1M$404KQ2 2025$63.7M$163KQ3 2025$70.6M$61KQ4 2025$89.0M$351KQ1 2026$52.2M$414KQ2 2026$86.7M$178KQ3 2026
Latest (Q3 2026): Operating cash flow $86.7M, Capital spending $178K.

Capital allocation, year by year

Sezzle: where the cash came from (up) and went (down), by fiscal yearSezzle: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingBuybacksFY2021: Operating cash flow −$72.1MFY2021: Net borrowing $38.8MFY2021: Shares issued $30.8MFY2021: Capital spending −$686KFY2021: Buybacks −$2.7M$69.6MFY2021FY2022: Operating cash flow $8.5MFY2022: Net borrowing −$13.8MFY2022: Shares issued $100KFY2022: Capital spending −$52KFY2022: Buybacks −$381K$8.6MFY2022FY2023: Operating cash flow −$25.7MFY2023: Net borrowing $30.0MFY2023: Shares issued $27KFY2023: Capital spending −$82KFY2023: Buybacks −$1.7M$30.0MFY2023FY2024: Operating cash flow $131MFY2024: Net borrowing $10.0MFY2024: Shares issued $3.9MFY2024: Capital spending −$70KFY2024: Buybacks −$23.6M$145MFY2024FY2025: Operating cash flow $210MFY2025: Net borrowing $36.3MFY2025: Shares issued $3.7MFY2025: Capital spending −$655KFY2025: Buybacks −$64.7M$250MFY2025
Over these 5 years operating cash flow totalled $251M; the largest uses were operating cash flow ($97.8M) and buybacks ($93.0M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$70.1M
Debtnone
Net cash$70.1M

Sezzle funds itself: free cash flow was $298M over the last twelve months, with $70.1M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Sezzle: sources (+) and uses (−) of cash, Q3 2026Sezzle: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$86.7MOther investing−$65.2MNet borrowing (+) / repaid (−)−$19.5MBuybacks−$6.6MCash drawn (+) / kept (−)$4.2MShares issued$445KCapital spending−$178KExchange rates$72KOther financing−$20K
Sezzle: sources (+) and uses (−) of cash, TTM to Q3 2026Sezzle: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$299MOther investing−$240MBuybacks−$69.4MCash drawn (+) / kept (−)$26.8MNet borrowing (+) / repaid (−)−$14.0MOther financing−$1.9MShares issued$1.2MCapital spending−$1.0MExchange rates$200K

From profit to cash

Sezzle: net income to operating cash flow, Q3 2026Sezzle: net income to operating cash flow, Q3 2026Net income$47.8MDepreciation & amortization$559KStock-based pay$2.9MDeferred taxes$204KPayables−$1.6MAccrued liabilities$3.4MDeferred revenue$844KPrepaid and other assets$18.3MOther liabilities−$3.6MOperating cash flow$86.7M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$86.7M−$178K−$6.6M−$19.5M$445K$4.2M$86.5M
Q2 2026$52.2M−$414K−$7.1M−$22.0M$507K$35.3M$51.8M
Q1 2026$89.0M−$351K−$25.7M$4.2M$111K−$44.8M$88.6M
Q4 2025$70.6M−$61K−$30.0M$23.3M$113K$32.1M$70.6M
Q3 2025$63.7M−$163K−$4.0M−$13.3M$54K−$14.7M$63.6M
Q2 2025$23.1M−$404K−$28.2M$60.5M$3.0M$900K$22.7M
Q1 2025$52.5M−$27K−$2.4M−$34.2M$540K−$22.6M$52.5M
Q4 2024$57.4M−$34K−$1.5M$10.0M$2.4M−$10.0M$57.4M

Sezzle: income statement and cash flow

Sezzle, Q3 2026: revenue $167M (+43% year over year), operating margin 38.6%. The chart follows the revenue to costs, profit and cash.

Sezzle: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.