Buy Now, Pay Later (BPNL) company Sezzle has announced it will be prioritising profitability going forward in a statement to the market outlining its Q2 results.
The company reported a 1.9% increase in Underlying Merchant Sales for the quarter to US$419.1 million.
?In the last few months, we have launched US$40 million worth of revenue and cost savings initiatives, as we move towards profitability and positive free cash flow generation, and we believe the results of those actions are starting to show,? said Sezzle Executive Chairman and CEO Charlie Youakim.
On 12 July 2022, Sezzle and Zip (ASX:ZIP) mutually agreed to terminate the proposed merger.
As part of the mutual termination, Sezzle received US$11 million from Zip to cover its legal, accounting and other costs associated with the transition.
Sezzle shares have skyrocketed more than 300% over the past week.