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Side-by-side financial comparison of DULUTH HOLDINGS INC. (DLTH) 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 $114.9M, roughly 1.2× DULUTH HOLDINGS INC.). Sezzle Inc. runs the higher net margin — 37.9% vs -8.8%, a 46.6% gap on every dollar of revenue. On growth, Sezzle Inc. posted the faster year-over-year revenue change (29.2% vs -9.6%). Over the past eight quarters, Sezzle Inc.'s revenue compounded faster (111.9% CAGR vs -31.6%).
Duluth Holdings Inc., which primarily sells goods through its Duluth Trading Company brand, is an American workwear and accessories company.
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.
DLTH vs SEZL — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $114.9M | $135.5M |
| Net Profit | $-10.1M | $51.3M |
| Gross Margin | 53.8% | — |
| Operating Margin | -7.7% | 50.9% |
| Net Margin | -8.8% | 37.9% |
| Revenue YoY | -9.6% | 29.2% |
| Net Profit YoY | 64.6% | 41.9% |
| EPS (diluted) | $-0.29 | — |
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 | $114.9M | $78.2M | ||
| Q3 25 | $131.7M | $57.5M | ||
| Q2 25 | $102.7M | $52.0M | ||
| Q1 25 | $241.3M | $48.2M | ||
| Q4 24 | $127.1M | $48.4M | ||
| Q3 24 | $141.6M | $35.6M | ||
| Q2 24 | $116.7M | $30.2M |
| Q1 26 | — | $51.3M | ||
| Q4 25 | $-10.1M | $42.7M | ||
| Q3 25 | $1.3M | $26.7M | ||
| Q2 25 | $-15.3M | $27.6M | ||
| Q1 25 | $-5.6M | $36.2M | ||
| Q4 24 | $-28.2M | $25.4M | ||
| Q3 24 | $-2.0M | $15.4M | ||
| Q2 24 | $-7.9M | $29.7M |
| Q1 26 | — | — | ||
| Q4 25 | 53.8% | — | ||
| Q3 25 | 54.7% | — | ||
| Q2 25 | 52.0% | — | ||
| Q1 25 | 44.1% | — | ||
| Q4 24 | 52.3% | — | ||
| Q3 24 | 52.3% | — | ||
| Q2 24 | 52.8% | — |
| Q1 26 | — | 50.9% | ||
| Q4 25 | -7.7% | 70.6% | ||
| Q3 25 | 1.8% | 61.9% | ||
| Q2 25 | -12.0% | 69.4% | ||
| Q1 25 | -1.8% | — | ||
| Q4 24 | -17.4% | 63.8% | ||
| Q3 24 | -1.1% | 58.6% | ||
| Q2 24 | -7.7% | 55.3% |
| Q1 26 | — | 37.9% | ||
| Q4 25 | -8.8% | 54.6% | ||
| Q3 25 | 1.0% | 46.4% | ||
| Q2 25 | -14.9% | 53.1% | ||
| Q1 25 | -2.3% | 75.1% | ||
| Q4 24 | -22.2% | 52.4% | ||
| Q3 24 | -1.4% | 43.4% | ||
| Q2 24 | -6.7% | 98.4% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.29 | $1.19 | ||
| Q3 25 | $0.04 | $0.75 | ||
| Q2 25 | $-0.45 | $0.78 | ||
| Q1 25 | $-0.17 | $1.00 | ||
| Q4 24 | $-0.84 | $0.71 | ||
| Q3 24 | $-0.06 | $0.44 | ||
| Q2 24 | $-0.24 | $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 | $8.2M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $160.6M | $196.7M |
| Total Assets | $468.0M | $454.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $8.2M | $64.1M | ||
| Q3 25 | $5.7M | $104.1M | ||
| Q2 25 | $8.6M | $88.9M | ||
| Q1 25 | $3.3M | $88.9M | ||
| Q4 24 | $9.3M | $73.2M | ||
| Q3 24 | $9.8M | $80.1M | ||
| Q2 24 | $6.8M | $58.0M |
| Q1 26 | — | $196.7M | ||
| Q4 25 | $160.6M | $169.8M | ||
| Q3 25 | $170.0M | $155.3M | ||
| Q2 25 | $167.9M | $130.4M | ||
| Q1 25 | $182.7M | $125.8M | ||
| Q4 24 | $188.1M | $87.8M | ||
| Q3 24 | $215.7M | $61.1M | ||
| Q2 24 | $218.4M | $50.3M |
| Q1 26 | — | $454.3M | ||
| Q4 25 | $468.0M | $400.2M | ||
| Q3 25 | $433.8M | $367.0M | ||
| Q2 25 | $463.7M | $350.6M | ||
| Q1 25 | $452.4M | $298.1M | ||
| Q4 24 | $533.1M | $298.4M | ||
| Q3 24 | $488.6M | $252.9M | ||
| Q2 24 | $471.4M | $212.1M |
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 | $-6.7M | — |
| Free Cash FlowOCF − Capex | $-8.9M | — |
| FCF MarginFCF / Revenue | -7.8% | — |
| Capex IntensityCapex / Revenue | 2.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-6.7M | $70.6M | ||
| Q3 25 | $32.0M | $63.7M | ||
| Q2 25 | $-56.5M | $23.1M | ||
| Q1 25 | $41.2M | $52.5M | ||
| Q4 24 | $-41.1M | $57.4M | ||
| Q3 24 | $16.6M | $35.1M | ||
| Q2 24 | $-33.7M | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | $-8.9M | $70.6M | ||
| Q3 25 | $29.8M | $63.6M | ||
| Q2 25 | $-57.8M | $22.7M | ||
| Q1 25 | $38.7M | $52.5M | ||
| Q4 24 | $-43.7M | $57.4M | ||
| Q3 24 | $15.0M | $35.1M | ||
| Q2 24 | $-35.2M | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | -7.8% | 90.2% | ||
| Q3 25 | 22.6% | 110.6% | ||
| Q2 25 | -56.3% | 43.6% | ||
| Q1 25 | 16.0% | 108.9% | ||
| Q4 24 | -34.4% | 118.5% | ||
| Q3 24 | 10.6% | 98.6% | ||
| Q2 24 | -30.2% | 73.4% |
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | 0.1% | ||
| Q3 25 | 1.7% | 0.3% | ||
| Q2 25 | 1.3% | 0.8% | ||
| Q1 25 | 1.0% | 0.1% | ||
| Q4 24 | 2.1% | 0.1% | ||
| Q3 24 | 1.2% | 0.0% | ||
| Q2 24 | 1.3% | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.65× | ||
| Q3 25 | 25.40× | 2.39× | ||
| Q2 25 | — | 0.84× | ||
| Q1 25 | — | 1.45× | ||
| Q4 24 | — | 2.26× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | — | 0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLTH
| Sales Channel Directly To Consumer | $67.4M | 59% |
| Sales Channel Through Intermediary | $47.4M | 41% |
SEZL
Segment breakdown not available.
