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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Sezzle Inc. (SEZL). Click either name above to swap in a different company.
Sezzle Inc. is the larger business by last-quarter revenue ($135.5M vs $43.2M, roughly 3.1× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs 37.9%, a 86.1% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 29.2%). Over the past eight quarters, Sezzle Inc.'s revenue compounded faster (111.9% CAGR vs 55.5%).
Sezzle is a publicly traded financial technology company headquartered in Minneapolis, U.S, with operations in the United States and Canada. The company provides an alternative payment platform offering interest-free installment plans at selected online stores. As of June 2021, the Sezzle platform had over 10 million user sign-ups and over 48,000 participating merchants.
ADAM vs SEZL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $135.5M |
| Net Profit | $53.5M | $51.3M |
| Gross Margin | — | — |
| Operating Margin | — | 50.9% |
| Net Margin | 124.0% | 37.9% |
| Revenue YoY | 61.6% | 29.2% |
| Net Profit YoY | 270.5% | 41.9% |
| EPS (diluted) | $0.45 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $135.5M | ||
| Q4 25 | $43.2M | $78.2M | ||
| Q3 25 | $36.6M | $57.5M | ||
| Q2 25 | $36.4M | $52.0M | ||
| Q1 25 | $33.1M | $48.2M | ||
| Q4 24 | $26.7M | $48.4M | ||
| Q3 24 | $20.2M | $35.6M | ||
| Q2 24 | $19.0M | $30.2M |
| Q1 26 | — | $51.3M | ||
| Q4 25 | $53.5M | $42.7M | ||
| Q3 25 | $44.8M | $26.7M | ||
| Q2 25 | $8.5M | $27.6M | ||
| Q1 25 | $42.2M | $36.2M | ||
| Q4 24 | $-31.4M | $25.4M | ||
| Q3 24 | $42.8M | $15.4M | ||
| Q2 24 | $-15.6M | $29.7M |
| Q1 26 | — | 50.9% | ||
| Q4 25 | — | 70.6% | ||
| Q3 25 | — | 61.9% | ||
| Q2 25 | 11.7% | 69.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | -119.0% | 63.8% | ||
| Q3 24 | — | 58.6% | ||
| Q2 24 | -124.7% | 55.3% |
| Q1 26 | — | 37.9% | ||
| Q4 25 | 124.0% | 54.6% | ||
| Q3 25 | 122.5% | 46.4% | ||
| Q2 25 | 23.4% | 53.1% | ||
| Q1 25 | 127.4% | 75.1% | ||
| Q4 24 | -117.5% | 52.4% | ||
| Q3 24 | 211.7% | 43.4% | ||
| Q2 24 | -81.9% | 98.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.45 | $1.19 | ||
| Q3 25 | $0.36 | $0.75 | ||
| Q2 25 | $-0.04 | $0.78 | ||
| Q1 25 | $0.33 | $1.00 | ||
| Q4 24 | $-0.46 | $0.71 | ||
| Q3 24 | $0.36 | $0.44 | ||
| Q2 24 | $-0.29 | $0.82 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.3M | — |
| Total DebtLower is stronger | $735.8M | — |
| Stockholders' EquityBook value | $1.4B | $196.7M |
| Total Assets | $12.6B | $454.3M |
| Debt / EquityLower = less leverage | 0.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $210.3M | $64.1M | ||
| Q3 25 | $185.3M | $104.1M | ||
| Q2 25 | $160.4M | $88.9M | ||
| Q1 25 | $177.1M | $88.9M | ||
| Q4 24 | $167.4M | $73.2M | ||
| Q3 24 | $195.1M | $80.1M | ||
| Q2 24 | $235.5M | $58.0M |
| Q1 26 | — | — | ||
| Q4 25 | $735.8M | — | ||
| Q3 25 | $766.6M | — | ||
| Q2 25 | $653.0M | — | ||
| Q1 25 | $654.4M | — | ||
| Q4 24 | $573.2M | — | ||
| Q3 24 | $699.4M | — | ||
| Q2 24 | $800.7M | — |
| Q1 26 | — | $196.7M | ||
| Q4 25 | $1.4B | $169.8M | ||
| Q3 25 | $1.4B | $155.3M | ||
| Q2 25 | $1.4B | $130.4M | ||
| Q1 25 | $1.4B | $125.8M | ||
| Q4 24 | $1.4B | $87.8M | ||
| Q3 24 | $1.4B | $61.1M | ||
| Q2 24 | $1.4B | $50.3M |
| Q1 26 | — | $454.3M | ||
| Q4 25 | $12.6B | $400.2M | ||
| Q3 25 | $12.4B | $367.0M | ||
| Q2 25 | $10.6B | $350.6M | ||
| Q1 25 | $10.0B | $298.1M | ||
| Q4 24 | $9.2B | $298.4M | ||
| Q3 24 | $8.9B | $252.9M | ||
| Q2 24 | $8.2B | $212.1M |
| Q1 26 | — | — | ||
| Q4 25 | 0.52× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.47× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.48× | — | ||
| Q2 24 | 0.56× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $134.0M | — |
| Free Cash FlowOCF − Capex | $125.9M | — |
| FCF MarginFCF / Revenue | 291.6% | — |
| Capex IntensityCapex / Revenue | 18.9% | — |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $134.0M | $70.6M | ||
| Q3 25 | $6.9M | $63.7M | ||
| Q2 25 | $39.2M | $23.1M | ||
| Q1 25 | $25.8M | $52.5M | ||
| Q4 24 | $14.1M | $57.4M | ||
| Q3 24 | $-922.0K | $35.1M | ||
| Q2 24 | $-993.0K | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | $125.9M | $70.6M | ||
| Q3 25 | — | $63.6M | ||
| Q2 25 | — | $22.7M | ||
| Q1 25 | — | $52.5M | ||
| Q4 24 | $-10.6M | $57.4M | ||
| Q3 24 | $-8.6M | $35.1M | ||
| Q2 24 | $-8.6M | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | 291.6% | 90.2% | ||
| Q3 25 | — | 110.6% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 108.9% | ||
| Q4 24 | -39.6% | 118.5% | ||
| Q3 24 | -42.3% | 98.6% | ||
| Q2 24 | -44.9% | 73.4% |
| Q1 26 | — | — | ||
| Q4 25 | 18.9% | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 92.3% | 0.1% | ||
| Q3 24 | 37.7% | 0.0% | ||
| Q2 24 | 39.7% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.50× | 1.65× | ||
| Q3 25 | 0.15× | 2.39× | ||
| Q2 25 | 4.59× | 0.84× | ||
| Q1 25 | 0.61× | 1.45× | ||
| Q4 24 | — | 2.26× | ||
| Q3 24 | -0.02× | 2.27× | ||
| Q2 24 | — | 0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
SEZL
Segment breakdown not available.
