Sezzle Q1 GMV Soars 37.3% to $1.1B; Raises FY2026 Guidance
Sezzle’s Q1 GMV rose 37.3% year-over-year to $1.1 billion with record 7.1x purchase frequency, while revenue climbed 29.2% to $135.5 million. Net income jumped 41.9% to $51.3 million and the company raised FY2026 revenue growth guidance to 30–35% and adjusted net income to $180 million.
1. Q1 GMV and Revenue Growth
Gross Merchandise Volume rose 37.3% year-over-year to $1.1 billion in Q1 2026, driven by a record 7.1x average purchase frequency and 48.4% subscriber growth. Total revenue increased 29.2% to $135.5 million, representing 12.2% of GMV as Monthly On-Demand & Subscribers reached 887,000.
2. Profitability and Margin Expansion
Net income grew 41.9% year-over-year to $51.3 million, or $1.47 per diluted share, while adjusted net income reached $50.0 million. Adjusted EBITDA rose 38.3% to $71.1 million with a 52.5% margin, and operating income expanded 38.4% to $69.0 million, lifting operating margin to 50.9% of revenue.
3. FY2026 Guidance Raise and Strategic Initiatives
Sezzle raised FY2026 revenue growth guidance to 30–35% from 25–30%, adjusted net income to $180 million from $170 million, and adjusted net income per share to $5.10 from $4.70. The company also expanded its product suite with Pay-in-5, Agentic Commerce virtual card, Earn Tab engagement hub and repurchased $24.8 million of shares.