Sezzle soars on August update and positive outlook
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The news: Sezzle shares have rocketed nearly 20% on the back of its strong August update.
The numbers: Share in the buy now, pay later company rose more than 18% to $23.82 at around 12.45pm AEST after it revealed its total August income was up 11% month on month to $21.6 million and 44% higher year on year. Active subscribers for its premium and "anywhere" products exceeded 210,000.
The context: Two years ago, buy now pay later companies were among the hottest on the ASX. Many have fallen back to earth, fallen off the exchange, or fallen over entirely.
What they said: "August has proven to be yet another testament to the efficacy and success of our latest product offerings," Sezzle chairman and chief executive Charlie Youakim said.
"We are excited about the upcoming holiday period in the fourth quarter, as we have the right economic model for us and our customers."
The source: ASX announcement
