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Here’s why the Sezzle (ASX:SZL) share price is up over 5% today

The Sezzle share price is up over 6% today. We review the company’s latest announcment to connect the performance dots.
The post Here’s why the Sezzle (ASX:SZL) share price is up over 5% today appeared first on The Motley Fool Australia. –

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The Sezzle Inc (ASX: SZL) share price is up 5.44% today, after the company reported a record fourth quarter FY20 performance.

At the time of writing, shares in the ASX buy now, pay later player are swapping hands for $6.59.

New records every month

According to this morning’s update, Sezzle reached new heights every month during its fourth quarter. These gains span across the company’s underlying merchant sales (UMS), active consumers, active merchants and repeat usage numbers. 

Merchant fees, which represented 84% of Sezzle’s total income in the first half of 2020, rose a whopping 195.6% year-over-year to reach US$17.2 million in the fourth quarter.

These latest results aren’t the first time Sezzle has come to the table with record highs. In December, the company announced reaching new peaks for the month of November and four days of the Black Friday/Cyber Monday weekend.

Advancing strategic objectives to boost the Sezzle share price

During the most recent quarter, Sezzle continued taking big steps to expand its industry footprint. As a result of a holiday-period marketing campaign that ran over November and December 2020, the company reported that it more than doubled the pace of daily Sezzle downloads.

Another significant win for Sezzle during the fourth quarter involved teaming up with GameStop Corp (NYSE: GME), the world’s largest video game retailer. Sezzle is now available at GameStop’s more than 3,300 stores as well as online and in GameStop’s mobile app. 

Some thoughts from the CEO

Chairman and CEO Charlie Youakim commented on these results: 

We are extremely excited by the strong momentum in our business. In 4Q20, each month we achieved new records for UMS, Active Consumers, Active Merchants, and Repeat Usage. December’s UMS outpaced November’s (unlike last year’s) even with Cyber Monday moving from December in 2019 to November this year.

Our large enterprise and international expansion efforts are paying dividends as evidenced by our recent addition of GameStop and the growth rates we are experiencing in Canada and India that are exceeding the U.S.

A closer look at Sezzle

Sezzle is a rapidly growing fintech company on a mission to increase the purchasing power for over two million active consumers. The company does this by offering interest-free instalment plans at online stores and select in-store locations in the US.

Over the past 12-month period, the Sezzle share price has launched nearly 240% higher. At the time of writing, the Sezzle share price is sitting at $6.59 per share, giving the company a current market capitalisation of $1.23 billion.

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More reading

Gretchen Kennedy has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends GameStop and Sezzle Inc. The Motley Fool Australia has recommended Sezzle Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Here’s why the Sezzle (ASX:SZL) share price is up over 5% today appeared first on The Motley Fool Australia.

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