ZIP’s Q2 2025 update paints a grim picture. $3.4 billion in TTV only translated into $269.4 million in revenue, highlighting the company’s weak unit economics. The $35 million in EBTDA further underscores how poor their margins are. ZIP is rapidly losing market share in the US, while its Australian business is in clear decline. Growth is stalling, profitability remains elusive, and even their biggest BNPL advocate, founder and former global CEO Larry Diamond, has cashed out—sending a clear signal that the future isn’t as bright as ZIP wants investors to believe. And let’s not even get onto the topic of ZIP actually being net profitable.
ZIP Price at posting:
$2.52 Sentiment: Sell Disclosure: Not Held
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