vs
Side-by-side financial comparison of Sezzle Inc. (SEZL) and System1, Inc. (SST). Click either name above to swap in a different company.
Sezzle Inc. is the larger business by last-quarter revenue ($135.5M vs $51.9M, roughly 2.6× System1, Inc.). Sezzle Inc. runs the higher net margin — 37.9% vs -26.0%, a 63.8% gap on every dollar of revenue. On growth, Sezzle Inc. posted the faster year-over-year revenue change (29.2% vs -31.3%). Over the past eight quarters, Sezzle Inc.'s revenue compounded faster (111.9% CAGR vs -21.8%).
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.
System1 is an American Internet advertising company. Formerly known as OpenMail, it was founded in 2013. It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focused properties, including search engine Startpage.com. It is headquartered in Marina del Rey, California.
SEZL vs SST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $135.5M | $51.9M |
| Net Profit | $51.3M | $-13.5M |
| Gross Margin | — | 41.0% |
| Operating Margin | 50.9% | -33.6% |
| Net Margin | 37.9% | -26.0% |
| Revenue YoY | 29.2% | -31.3% |
| Net Profit YoY | 41.9% | 4.8% |
| EPS (diluted) | — | $-3.58 |
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 | $78.2M | $51.9M | ||
| Q3 25 | $57.5M | $61.6M | ||
| Q2 25 | $52.0M | $78.1M | ||
| Q1 25 | $48.2M | $74.5M | ||
| Q4 24 | $48.4M | $75.6M | ||
| Q3 24 | $35.6M | $88.8M | ||
| Q2 24 | $30.2M | $94.6M |
| Q1 26 | $51.3M | — | ||
| Q4 25 | $42.7M | $-13.5M | ||
| Q3 25 | $26.7M | $-18.5M | ||
| Q2 25 | $27.6M | $-17.5M | ||
| Q1 25 | $36.2M | $-15.9M | ||
| Q4 24 | $25.4M | $-14.2M | ||
| Q3 24 | $15.4M | $-23.6M | ||
| Q2 24 | $29.7M | $-26.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 36.9% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | — | 38.2% | ||
| Q4 24 | — | 42.1% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | — | 27.6% |
| Q1 26 | 50.9% | — | ||
| Q4 25 | 70.6% | -33.6% | ||
| Q3 25 | 61.9% | -25.3% | ||
| Q2 25 | 69.4% | -20.4% | ||
| Q1 25 | — | -17.6% | ||
| Q4 24 | 63.8% | -15.7% | ||
| Q3 24 | 58.6% | -24.6% | ||
| Q2 24 | 55.3% | -30.8% |
| Q1 26 | 37.9% | — | ||
| Q4 25 | 54.6% | -26.0% | ||
| Q3 25 | 46.4% | -30.1% | ||
| Q2 25 | 53.1% | -22.4% | ||
| Q1 25 | 75.1% | -21.3% | ||
| Q4 24 | 52.4% | -18.7% | ||
| Q3 24 | 43.4% | -26.6% | ||
| Q2 24 | 98.4% | -27.9% |
| Q1 26 | — | — | ||
| Q4 25 | $1.19 | $-3.58 | ||
| Q3 25 | $0.75 | $-2.30 | ||
| Q2 25 | $0.78 | $-2.23 | ||
| Q1 25 | $1.00 | $-0.21 | ||
| Q4 24 | $0.71 | $-3.41 | ||
| Q3 24 | $0.44 | $-3.37 | ||
| Q2 24 | $0.82 | $-3.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $86.9M |
| Total DebtLower is stronger | — | $305.1M |
| Stockholders' EquityBook value | $196.7M | $30.5M |
| Total Assets | $454.3M | $405.0M |
| Debt / EquityLower = less leverage | — | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $64.1M | $86.9M | ||
| Q3 25 | $104.1M | $54.6M | ||
| Q2 25 | $88.9M | $63.6M | ||
| Q1 25 | $88.9M | $43.9M | ||
| Q4 24 | $73.2M | $63.6M | ||
| Q3 24 | $80.1M | $69.1M | ||
| Q2 24 | $58.0M | $75.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $305.1M | ||
| Q3 25 | — | $259.2M | ||
| Q2 25 | — | $263.3M | ||
| Q1 25 | — | $267.4M | ||
| Q4 24 | — | $255.1M | ||
| Q3 24 | — | $259.2M | ||
| Q2 24 | — | $263.3M |
| Q1 26 | $196.7M | — | ||
| Q4 25 | $169.8M | $30.5M | ||
| Q3 25 | $155.3M | $42.7M | ||
| Q2 25 | $130.4M | $58.2M | ||
| Q1 25 | $125.8M | $67.2M | ||
| Q4 24 | $87.8M | $80.3M | ||
| Q3 24 | $61.1M | $90.3M | ||
| Q2 24 | $50.3M | $109.4M |
| Q1 26 | $454.3M | — | ||
| Q4 25 | $400.2M | $405.0M | ||
| Q3 25 | $367.0M | $385.2M | ||
| Q2 25 | $350.6M | $429.2M | ||
| Q1 25 | $298.1M | $419.2M | ||
| Q4 24 | $298.4M | $459.1M | ||
| Q3 24 | $252.9M | $479.3M | ||
| Q2 24 | $212.1M | $511.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | 10.01× | ||
| Q3 25 | — | 6.07× | ||
| Q2 25 | — | 4.53× | ||
| Q1 25 | — | 3.98× | ||
| Q4 24 | — | 3.18× | ||
| Q3 24 | — | 2.87× | ||
| Q2 24 | — | 2.41× |
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 | — | $-10.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $70.6M | $-10.6M | ||
| Q3 25 | $63.7M | $-2.1M | ||
| Q2 25 | $23.1M | $24.5M | ||
| Q1 25 | $52.5M | $-15.9M | ||
| Q4 24 | $57.4M | $772.0K | ||
| Q3 24 | $35.1M | $-5.0K | ||
| Q2 24 | $22.2M | $10.0M |
| Q1 26 | — | — | ||
| Q4 25 | $70.6M | — | ||
| Q3 25 | $63.6M | — | ||
| Q2 25 | $22.7M | — | ||
| Q1 25 | $52.5M | $-16.0M | ||
| Q4 24 | $57.4M | — | ||
| Q3 24 | $35.1M | $-36.0K | ||
| Q2 24 | $22.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | 90.2% | — | ||
| Q3 25 | 110.6% | — | ||
| Q2 25 | 43.6% | — | ||
| Q1 25 | 108.9% | -21.5% | ||
| Q4 24 | 118.5% | — | ||
| Q3 24 | 98.6% | -0.0% | ||
| Q2 24 | 73.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 0.0% | ||
| Q3 25 | 0.3% | 0.0% | ||
| Q2 25 | 0.8% | 0.0% | ||
| Q1 25 | 0.1% | 0.1% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.0% | 0.0% | ||
| Q2 24 | 0.1% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.65× | — | ||
| Q3 25 | 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.
