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Side-by-side financial comparison of Sezzle Inc. (SEZL) and Shoals Technologies Group, Inc. (SHLS). Click either name above to swap in a different company.
Shoals Technologies Group, Inc. is the larger business by last-quarter revenue ($148.3M vs $78.2M, roughly 1.9× Sezzle Inc.). Sezzle Inc. runs the higher net margin — 54.6% vs 5.5%, a 49.1% gap on every dollar of revenue. On growth, Sezzle Inc. posted the faster year-over-year revenue change (61.6% vs 38.6%). Sezzle Inc. produced more free cash flow last quarter ($70.6M vs $-11.3M). Over the past eight quarters, Sezzle Inc.'s revenue compounded faster (76.0% CAGR vs 27.8%).
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.
Shoals Technologies Group is a leading provider of electrical balance of systems solutions for renewable energy and e-mobility. It supplies connectivity components for solar projects, energy storage systems and EV charging infrastructure, serving clients across North America, Europe and Asia-Pacific.
SEZL vs SHLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $148.3M |
| Net Profit | $42.7M | $8.1M |
| Gross Margin | — | 31.6% |
| Operating Margin | 70.6% | 11.7% |
| Net Margin | 54.6% | 5.5% |
| Revenue YoY | 61.6% | 38.6% |
| Net Profit YoY | 68.3% | 3.9% |
| EPS (diluted) | $1.19 | $0.05 |
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.
| Q4 25 | $78.2M | $148.3M | ||
| Q3 25 | $57.5M | $135.8M | ||
| Q2 25 | $52.0M | $110.8M | ||
| Q1 25 | $48.2M | $80.4M | ||
| Q4 24 | $48.4M | $107.0M | ||
| Q3 24 | $35.6M | $102.2M | ||
| Q2 24 | $30.2M | $99.2M | ||
| Q1 24 | $25.2M | $90.8M |
| Q4 25 | $42.7M | $8.1M | ||
| Q3 25 | $26.7M | $11.9M | ||
| Q2 25 | $27.6M | $13.9M | ||
| Q1 25 | $36.2M | $-282.0K | ||
| Q4 24 | $25.4M | $7.8M | ||
| Q3 24 | $15.4M | $-267.0K | ||
| Q2 24 | $29.7M | $11.8M | ||
| Q1 24 | $8.0M | $4.8M |
| Q4 25 | — | 31.6% | ||
| Q3 25 | — | 37.0% | ||
| Q2 25 | — | 37.2% | ||
| Q1 25 | — | 35.0% | ||
| Q4 24 | — | 37.6% | ||
| Q3 24 | — | 24.8% | ||
| Q2 24 | — | 40.3% | ||
| Q1 24 | — | 40.2% |
| Q4 25 | 70.6% | 11.7% | ||
| Q3 25 | 61.9% | 13.7% | ||
| Q2 25 | 69.4% | 14.4% | ||
| Q1 25 | — | 5.4% | ||
| Q4 24 | 63.8% | 15.4% | ||
| Q3 24 | 58.6% | 4.4% | ||
| Q2 24 | 55.3% | 18.7% | ||
| Q1 24 | 54.8% | 12.8% |
| Q4 25 | 54.6% | 5.5% | ||
| Q3 25 | 46.4% | 8.7% | ||
| Q2 25 | 53.1% | 12.5% | ||
| Q1 25 | 75.1% | -0.4% | ||
| Q4 24 | 52.4% | 7.3% | ||
| Q3 24 | 43.4% | -0.3% | ||
| Q2 24 | 98.4% | 11.9% | ||
| Q1 24 | 31.7% | 5.3% |
| Q4 25 | $1.19 | $0.05 | ||
| Q3 25 | $0.75 | $0.07 | ||
| Q2 25 | $0.78 | $0.08 | ||
| Q1 25 | $1.00 | $0.00 | ||
| Q4 24 | $0.71 | $0.04 | ||
| Q3 24 | $0.44 | $0.00 | ||
| Q2 24 | $0.82 | $0.07 | ||
| Q1 24 | $0.22 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $64.1M | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $169.8M | $600.0M |
| Total Assets | $400.2M | $904.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.1M | $7.3M | ||
| Q3 25 | $104.1M | $8.6M | ||
| Q2 25 | $88.9M | $4.7M | ||
| Q1 25 | $88.9M | $35.6M | ||
| Q4 24 | $73.2M | $23.5M | ||
| Q3 24 | $80.1M | $11.1M | ||
| Q2 24 | $58.0M | $3.2M | ||
| Q1 24 | $77.8M | $15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $141.8M | ||
| Q4 24 | — | $141.8M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $146.8M | ||
| Q1 24 | — | $168.8M |
| Q4 25 | $169.8M | $600.0M | ||
| Q3 25 | $155.3M | $589.6M | ||
| Q2 25 | $130.4M | $575.4M | ||
| Q1 25 | $125.8M | $558.9M | ||
| Q4 24 | $87.8M | $556.8M | ||
| Q3 24 | $61.1M | $545.2M | ||
| Q2 24 | $50.3M | $544.6M | ||
| Q1 24 | $29.6M | $554.0M |
| Q4 25 | $400.2M | $904.1M | ||
| Q3 25 | $367.0M | $851.8M | ||
| Q2 25 | $350.6M | $795.0M | ||
| Q1 25 | $298.1M | $788.4M | ||
| Q4 24 | $298.4M | $793.1M | ||
| Q3 24 | $252.9M | $801.3M | ||
| Q2 24 | $212.1M | $788.4M | ||
| Q1 24 | $195.7M | $825.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.26× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.30× |
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 | $70.6M | $-4.1M |
| Free Cash FlowOCF − Capex | $70.6M | $-11.3M |
| FCF MarginFCF / Revenue | 90.2% | -7.6% |
| Capex IntensityCapex / Revenue | 0.1% | 4.8% |
| Cash ConversionOCF / Net Profit | 1.65× | -0.50× |
| TTM Free Cash FlowTrailing 4 quarters | $209.3M | $-16.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.6M | $-4.1M | ||
| Q3 25 | $63.7M | $19.4M | ||
| Q2 25 | $23.1M | $-13.8M | ||
| Q1 25 | $52.5M | $15.6M | ||
| Q4 24 | $57.4M | $14.0M | ||
| Q3 24 | $35.1M | $15.7M | ||
| Q2 24 | $22.2M | $37.8M | ||
| Q1 24 | $16.0M | $12.9M |
| Q4 25 | $70.6M | $-11.3M | ||
| Q3 25 | $63.6M | $9.0M | ||
| Q2 25 | $22.7M | $-26.0M | ||
| Q1 25 | $52.5M | $12.3M | ||
| Q4 24 | $57.4M | $12.5M | ||
| Q3 24 | $35.1M | $13.3M | ||
| Q2 24 | $22.2M | $35.8M | ||
| Q1 24 | $16.0M | $10.4M |
| Q4 25 | 90.2% | -7.6% | ||
| Q3 25 | 110.6% | 6.6% | ||
| Q2 25 | 43.6% | -23.5% | ||
| Q1 25 | 108.9% | 15.4% | ||
| Q4 24 | 118.5% | 11.6% | ||
| Q3 24 | 98.6% | 13.0% | ||
| Q2 24 | 73.4% | 36.1% | ||
| Q1 24 | 63.3% | 11.4% |
| Q4 25 | 0.1% | 4.8% | ||
| Q3 25 | 0.3% | 7.7% | ||
| Q2 25 | 0.8% | 11.0% | ||
| Q1 25 | 0.1% | 4.0% | ||
| Q4 24 | 0.1% | 1.4% | ||
| Q3 24 | 0.0% | 2.3% | ||
| Q2 24 | 0.1% | 2.0% | ||
| Q1 24 | 0.0% | 2.7% |
| Q4 25 | 1.65× | -0.50× | ||
| Q3 25 | 2.39× | 1.63× | ||
| Q2 25 | 0.84× | -1.00× | ||
| Q1 25 | 1.45× | — | ||
| Q4 24 | 2.26× | 1.79× | ||
| Q3 24 | 2.27× | — | ||
| Q2 24 | 0.75× | 3.21× | ||
| Q1 24 | 2.00× | 2.69× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SEZL
| Merchant And Partner Income | $28.9M | 37% |
| Transaction Income | $25.9M | 33% |
| Income From Other Services Late Payment Fees | $20.5M | 26% |
| Other | $2.9M | 4% |
SHLS
| System Solutions | $122.0M | 82% |
| Components | $26.3M | 18% |
