Sezzle jumps after lifting annual forecasts

Sezzle

08/08/2024 16:12

** Shares of digital payments platform Sezzle  SEZL.O  jump
as much as 21.6%; last up 19% at $93.80
    ** SEZL on Wednesday lifted annual net income forecast to
$55 mln from prior view of $30 mln
    ** Co expects 2024 total revenue to grow between 35% and
40%, above previous expectation of 25%
    ** With the initiatives we have in the pipeline, we are
poised to embark on an exciting new phase - CEO Charlie Youakim 
    ** SEZL said it is nearing completion of its implementation
with bank sponsor partner, with launch anticipated in Q4 2024
    ** Partnership would allow SEZL to launch additional
products assisted by bank sponsorship including checking
accounts, cash advances and credit building products
    ** Q2 total revenue rose 60.2% to $56 mln, driven by growth
and engagement of subscriber base
    ** YTD stock has more than quadrupled

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))