Was a very solid update: - May UMS higher than April - if June is then higher than May, you're looking at something like $US180m - $US190m UMS for the quarter.
- Further driving larger merchants - the 6 retailers they highlighted on that slide have cumulative sales of $1bln online, $8bln offline. To put that in perspective, in the years to come even landing just 10% of their sales through Sezzle would be worth almost the same as the company's entire annual UMS currently.
- New products, including the virtual card which supports easier piloting and integration with enterprise scale merchants.
By June/September they will have a platform rivaling that of Zip's (acknowledging the higher revenue/user the interest-bearing Zip products generate).
Also continue to see solid additions both in Instagram updates and 7-day Google Trends data.
Having said all that, I still don't think this stock price is going anywhere until they fix the liquidity issue. I note that one of the items at the AGM was to be able to increase their placement capacity, which was withdrawn as with their current market cap apparently they didn't require it to be passed at an AGM, though I'm not as familiar with those rules. With that presentation posted a few weeks back for the Goldman Sachs conference, I wonder if a cap raising is coming soon, which if it helps drive further growth and adds liquidity, I'm all for it. I would expect at some point in the medium/long term a listing on an American exchange, but that is just my personal view.
SZL Price at posting:
$2.18 Sentiment: Buy Disclosure: Held
