Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $684.1 million, a 6.6% increase year over year, driven by a larger lease portfolio and higher purchase activity [9][27] - Adjusted EBITDA was $70.3 million, slightly down from $72.6 million in the previous year [27] - Non-GAAP EPS was $0.90, exceeding the high end of the outlook [10][27] - The lease portfolio balance increased by 6.1% year over year, compared to a 5.2% decline at the same point in 2023 [10] Business Line Data and Key Metrics Changes - Progressive Leasing's GMV for Q1 was $402 million, down 4% from the previous year, primarily due to the bankruptcy of a large retail partner [22][24] - Excluding the impact of the Big Lots bankruptcy, GMV growth was low to mid-single digits [8][24] - Ford Technologies, the BNPL platform, achieved triple-digit revenue growth and positive adjusted EBITDA for the first time [11][80] Market Data and Key Metrics Changes - The macroeconomic environment has deteriorated, with inflation and tariff concerns impacting consumer confidence and spending [12][29] - Consumer behavior has shifted, with many delaying discretionary spending, particularly in big-ticket categories [8][12] Company Strategy and Development Direction - The company is focused on executing its ecosystem strategy, which includes enhancing both leasing and BNPL products to meet consumer needs [11][19] - Strategic investments in marketing and technology are prioritized to drive growth and optimize risk management [12][19] - The company aims to maintain a disciplined approach to spending while making selective capital investments [14][19] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging macro environment but expressed confidence in the company's ability to navigate through it [12][29] - The revised 2025 outlook reflects increased macro uncertainty and a decline in consumer confidence, particularly in key categories [29][30] - Management expects lease portfolio performance to remain within the targeted 6% to 8% annual write-off range [30] Other Important Information - The company returned capital to shareholders through dividends and share repurchases, with a quarterly cash dividend of $0.13 per share [27] - The company has $335.2 million remaining under its $500 million share repurchase program [27] Q&A Session Summary Question: What are the dynamics of the trade-down environment? - Management noted that trade-down behavior still exists but is more muted compared to the latter half of 2024, with no significant tightening observed [36] Question: How has retail softness progressed? - Management indicated that while the quarter started encouragingly, there was a noticeable downshift in consumer sentiment, with no significant rebound observed [40] Question: What is the impact of the Big Lots bankruptcy on GMV? - Management confirmed that the $30 million GMV headwind from the lost customer is expected to be consistent across the quarters [41][42] Question: How are inflation and tariffs impacting retail partners? - Management highlighted that modest price increases could be beneficial, but significant price shocks and demand destruction are concerning [46] Question: What is the status of the American Signature partnership? - Management reported positive progress with American Signature, indicating strong connectivity and training efforts [64] Question: What is the reduction in lease approval rates? - Management stated that lease approval rates are approximately 300 to 400 basis points lower year over year, influenced by tightening actions and a shift in application quality [70]

Financial Data and Key Metrics Changes - Total Process Volume (TPV) reached $80 billion in Q4 2024, a 29% increase compared to Q4 2023 [10] - Q4 net revenue was $136 million, growing 14% year-over-year [10] - Gross profit for Q4 was $98 million, an 18% increase year-over-year, resulting in a gross margin of 72% [11] - Adjusted EBITDA was $13 million in Q4, translating into a 9% margin, marking new all-time highs for the company [43][67] Business Line Data and Key Metrics Changes - Financial services, lending (including Buy Now, Pay Later), and expense management all grew at rates slightly faster than the overall company in Q4 [36] - Non-Block TPV grew roughly twice as fast as Block TPV, driven by various customer use cases [35] - The European business saw TPV growth well over 100% in Q4, with notable wins contributing to future momentum [16] Market Data and Key Metrics Changes - The company secured a consumer co-brand credit partnership with an established airline outside the U.S., indicating strong international market engagement [14] - The European market is experiencing significant growth, with a focus on enhancing program management capabilities to match U.S. offerings [18][119] Company Strategy and Development Direction - The company aims to establish itself as the preferred partner for embedded finance and fintech innovations through three strategic pillars: deepening platform breadth, expanding solutions, and strengthening leadership in payments innovation [20] - The acquisition of TransactPay is intended to enhance program management offerings in Europe, allowing for a more seamless service for customers [55][79] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing compelling opportunities in the payment ecosystem, emphasizing the importance of operational improvements and customer experience [8][12] - The company expects full-year 2025 net revenue growth between 16% and 18%, driven by TPV growth in the mid- to high 20s [48] - Management highlighted the importance of maintaining a strong focus on compliance while driving profitable growth [30] Other Important Information - The company has $80 million remaining on the Q2 2024 share buyback authorization and plans to restart share repurchase activity soon [46] - An additional $300 million share buyback authorization has been approved, bringing the total to $380 million [47] Q&A Session Summary Question: What exactly is being acquired with TransactPay? - The acquisition involves a bin sponsorship provider licensed with an e-money institution, allowing the company to have more control over offerings in Europe [73][74][78] Question: How does the pipeline look now? - The pipeline is strong, with roughly two-thirds consisting of embedded finance customers, indicating significant momentum in this area [82] Question: Does Marqeta have everything needed to win large embedded finance deals? - Yes, the company is fully modern and operates at scale, providing a unique and differentiated offering that appeals to global companies [92] Question: Is the guidance for 2025 based on the acquisition of TransactPay? - Yes, the guidance assumes the acquisition will close around Q3 2025 [96] Question: What is the path to GAAP profitability? - The company expects to drive gross profit growth at a faster rate than expense growth, leading to quarterly GAAP profitability by the end of 2026 [98][100]

As filed with the Securities and Exchange Commission on July 28, 2023 Registration No. 333-270755 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SEZZLE INC. (Exact name of registrant as specified in its charter) incorporation or organization) Classification Code Number) Identification No.) (State or jurisdiction of (Primary Standard Industrial (I.R.S. Employer Delaware 7389 81-0971660 700 Nicollet Ma ...

As filed with the Securities and Exchange Commission on June 16, 2023 Registration No. 333-270755 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 incorporation or organization) Classification Code Number) Identification No.) AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 SEZZLE INC. (Exact name of registrant as specified in its charter) (State or jurisdiction of (Primary Standard Industrial (I.R.S. Employer Delaware 7389 81-0971660 251 N 1st Ave, ...

As filed with the Securities and Exchange Commission on March 22, 2023 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (State or jurisdiction of (Primary Standard Industrial (I.R.S. Employer incorporation or organization) Classification Code Number) Identification No.) 251 N 1st Ave, Suite 200 Minneapolis, MN 5540 Telephone: (651) 504 5294 (Address, including Zip Code, and Telephone Number, including Area Code, of Regis ...