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Side-by-side financial comparison of Sezzle Inc. (SEZL) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $78.2M, roughly 1.2× Sezzle Inc.). Sezzle Inc. runs the higher net margin — 54.6% vs 25.0%, a 29.6% gap on every dollar of revenue. On growth, Sezzle Inc. posted the faster year-over-year revenue change (61.6% vs 23.3%). Sezzle Inc. produced more free cash flow last quarter ($70.6M vs $12.8M). Over the past eight quarters, Sezzle Inc.'s revenue compounded faster (76.0% CAGR vs 34.6%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
SEZL vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $92.9M |
| Net Profit | $42.7M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 70.6% | 24.1% |
| Net Margin | 54.6% | 25.0% |
| Revenue YoY | 61.6% | 23.3% |
| Net Profit YoY | 68.3% | 17.3% |
| EPS (diluted) | $1.19 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $57.5M | $67.5M | ||
| Q2 25 | $52.0M | $63.2M | ||
| Q1 25 | $48.2M | $52.6M | ||
| Q4 24 | $48.4M | $75.4M | ||
| Q3 24 | $35.6M | $57.9M | ||
| Q2 24 | $30.2M | $52.7M | ||
| Q1 24 | $25.2M | $51.3M |
| Q4 25 | $42.7M | $23.2M | ||
| Q3 25 | $26.7M | $5.1M | ||
| Q2 25 | $27.6M | $-553.0K | ||
| Q1 25 | $36.2M | $-11.2M | ||
| Q4 24 | $25.4M | $19.8M | ||
| Q3 24 | $15.4M | $-901.0K | ||
| Q2 24 | $29.7M | $-4.7M | ||
| Q1 24 | $8.0M | $-3.9M |
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 68.9% |
| Q4 25 | 70.6% | 24.1% | ||
| Q3 25 | 61.9% | 5.1% | ||
| Q2 25 | 69.4% | -3.2% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | 63.8% | 24.5% | ||
| Q3 24 | 58.6% | -4.3% | ||
| Q2 24 | 55.3% | -11.5% | ||
| Q1 24 | 54.8% | -10.7% |
| Q4 25 | 54.6% | 25.0% | ||
| Q3 25 | 46.4% | 7.5% | ||
| Q2 25 | 53.1% | -0.9% | ||
| Q1 25 | 75.1% | -21.4% | ||
| Q4 24 | 52.4% | 26.3% | ||
| Q3 24 | 43.4% | -1.6% | ||
| Q2 24 | 98.4% | -8.9% | ||
| Q1 24 | 31.7% | -7.5% |
| Q4 25 | $1.19 | $0.46 | ||
| Q3 25 | $0.75 | $0.10 | ||
| Q2 25 | $0.78 | $-0.01 | ||
| Q1 25 | $1.00 | $-0.23 | ||
| Q4 24 | $0.71 | $0.40 | ||
| Q3 24 | $0.44 | $-0.02 | ||
| Q2 24 | $0.82 | $-0.10 | ||
| Q1 24 | $0.22 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $169.8M | $354.6M |
| Total Assets | $400.2M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.1M | $137.5M | ||
| Q3 25 | $104.1M | $135.4M | ||
| Q2 25 | $88.9M | $116.9M | ||
| Q1 25 | $88.9M | $112.9M | ||
| Q4 24 | $73.2M | $116.2M | ||
| Q3 24 | $80.1M | $101.7M | ||
| Q2 24 | $58.0M | $102.5M | ||
| Q1 24 | $77.8M | $110.6M |
| Q4 25 | $169.8M | $354.6M | ||
| Q3 25 | $155.3M | $321.9M | ||
| Q2 25 | $130.4M | $306.8M | ||
| Q1 25 | $125.8M | $295.5M | ||
| Q4 24 | $87.8M | $292.0M | ||
| Q3 24 | $61.1M | $257.5M | ||
| Q2 24 | $50.3M | $243.0M | ||
| Q1 24 | $29.6M | $233.9M |
| Q4 25 | $400.2M | $488.0M | ||
| Q3 25 | $367.0M | $453.3M | ||
| Q2 25 | $350.6M | $435.6M | ||
| Q1 25 | $298.1M | $424.6M | ||
| Q4 24 | $298.4M | $432.7M | ||
| Q3 24 | $252.9M | $390.4M | ||
| Q2 24 | $212.1M | $376.8M | ||
| Q1 24 | $195.7M | $356.7M |
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 | $15.0M |
| Free Cash FlowOCF − Capex | $70.6M | $12.8M |
| FCF MarginFCF / Revenue | 90.2% | 13.8% |
| Capex IntensityCapex / Revenue | 0.1% | 2.4% |
| Cash ConversionOCF / Net Profit | 1.65× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $209.3M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.6M | $15.0M | ||
| Q3 25 | $63.7M | $22.1M | ||
| Q2 25 | $23.1M | $8.2M | ||
| Q1 25 | $52.5M | $6.6M | ||
| Q4 24 | $57.4M | $22.2M | ||
| Q3 24 | $35.1M | $10.2M | ||
| Q2 24 | $22.2M | $18.5M | ||
| Q1 24 | $16.0M | $7.2M |
| Q4 25 | $70.6M | $12.8M | ||
| Q3 25 | $63.6M | $19.5M | ||
| Q2 25 | $22.7M | $81.0K | ||
| Q1 25 | $52.5M | $-7.6M | ||
| Q4 24 | $57.4M | $8.5M | ||
| Q3 24 | $35.1M | $-9.2M | ||
| Q2 24 | $22.2M | $1.8M | ||
| Q1 24 | $16.0M | $-6.8M |
| Q4 25 | 90.2% | 13.8% | ||
| Q3 25 | 110.6% | 28.8% | ||
| Q2 25 | 43.6% | 0.1% | ||
| Q1 25 | 108.9% | -14.5% | ||
| Q4 24 | 118.5% | 11.2% | ||
| Q3 24 | 98.6% | -15.9% | ||
| Q2 24 | 73.4% | 3.4% | ||
| Q1 24 | 63.3% | -13.3% |
| Q4 25 | 0.1% | 2.4% | ||
| Q3 25 | 0.3% | 3.9% | ||
| Q2 25 | 0.8% | 12.9% | ||
| Q1 25 | 0.1% | 27.0% | ||
| Q4 24 | 0.1% | 18.3% | ||
| Q3 24 | 0.0% | 33.5% | ||
| Q2 24 | 0.1% | 31.8% | ||
| Q1 24 | 0.0% | 27.3% |
| Q4 25 | 1.65× | 0.65× | ||
| Q3 25 | 2.39× | 4.35× | ||
| Q2 25 | 0.84× | — | ||
| Q1 25 | 1.45× | — | ||
| Q4 24 | 2.26× | 1.12× | ||
| Q3 24 | 2.27× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 2.00× | — |
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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
