Ann: October Business Update, page-14

Great post.

I agree with all except I don't think that Sezzle Premium revenue will drop off so much. The gaap accounting policy Sezzle adopted means that subscription revenue is recognised over the life of the sub vs recognised entirely when it is received.... so users paying an annual sub in December for example would only have one twelfth of that that revenue recorded in the December results, unwinding in months that follow, in line with the subscription service. You can see a deferred revenue balance in the detailed September Form 10Q and I suspect this balance will be larger at 31 Dec,