EL7.AI
StocksMedium•22 October 2026•
3 min read

Sezzle seeks national bank charter after record revenue of $149.7 million

Key Facts

1Sezzle posted record revenue of $149.7 million in the second quarter of 2026, up 51.7% year on year.
2Gross merchandise volume through the platform reached about $1.3 billion in the second quarter of 2026, up 37.9% year on year.
3Net income rose 47.7% year on year to $40.8 million in the second quarter of 2026.
4Active subscribers increased 76.4% year on year to about 854,000 in the second quarter of 2026.
5Sezzle believes a national bank charter could support product expansion and consumer relationships, subject to regulatory approval.

Sezzle is seeking a national bank charter that it says could give it flexibility to expand its products and deepen consumer relationships, subject to regulatory approval, according to a company filing with the U.S. Securities and Exchange Commission. The move comes after the business posted record quarterly revenue of $149.7 million in the second quarter of 2026, according to its earnings release. The company describes the proposed charter as a more sustainable and scalable foundation to support product expansion and customer relationships. It said in its filing: "Subject to regulatory approval, we believe a national bank charter could provide flexibility as we expand our product suite and deepen our relationships with consumers." Its current status is set out in its user agreement, which states that "Sezzle is not a bank and is not insured by the Federal Deposit Insurance Corporation."

Lending associated with Sezzle's products currently relies on a bank partnership program with WebBank, according to another company filing with the Securities and Exchange Commission. Under the program, the bank originates consumer installment loans offered in connection with the company's products. It also funds those loans, according to Sezzle's description of its role in the partnership. Amended agreements between the two parties expanded the program to include the "Sezzle Cash" and "Sezzle Send" products. The relationship with the bank extends to funds shown in a "Sezzle Balance" account, whose agreement states that they are held at WebBank, a member of the Federal Deposit Insurance Corporation. The agreement defines the balance as "a deposit liability of WebBank" to the customer, assigning custody of the funds and the corresponding liability to the partner bank.

Second-quarter results showed growth in revenue, gross merchandise volume through the platform and the subscriber base, alongside higher net income, according to Sezzle's earnings release. Revenue rose 51.7% from the same quarter a year earlier, marking the company's highest quarterly revenue. Gross merchandise volume through the platform reached about $1.3 billion, up 37.9% year on year, according to the earnings release filed with the Securities and Exchange Commission. Over the same period, active subscribers rose 76.4% year on year to about 854,000. Net income totaled $40.8 million, up 47.7% from the corresponding quarter a year earlier. In earlier trading following the earnings announcement, Investing.com reported on August 7, 2026, that the stock fell 23.0% before the market opened. Its price at the time was $137.50, in a move linked to the company's results at that time.

Obtaining the charter remains tied to the regulatory process set out by the U.S. Office of the Comptroller of the Currency for applications to establish banks. According to the office's licensing manual, approval of these applications proceeds in two stages. The process begins with preliminary approval, followed by final approval, according to the manual. On upcoming financial disclosures, Sezzle plans to announce its third-quarter 2026 results on November 4, 2026, according to its earnings date announcement. The company scheduled the release for after the market closes that day.