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- In the month ended 30 July 2022, Sezzle has recorded 9.5% rise in its underlying Merchant Sales.
- Also, July cash burn has reduced to US$1.8 million due to some special initiatives taken by the company.
- Sezzle shares have been reacting positively to the update, have gained more than 22% as of 10:45 AM AEST.
Fintech giant, Sezzle Inc. (ASX:SZL), on Thursday (18 August 2022), shared its July 2022 update. Claiming to close the gap to profitability, Sezzle stated that the ‘Total Income Less Transaction Related Costs Less Adjusted Operating Expenses’, also known as ‘cash burn’, reduced to US$1.8 million or AU$2.6 million in the given period (for the month ended 31 July 2022).
Key takeaways from July 2022 business update
Sezzle’s share price movement in recent times:
The purpose-driven installment payment platform has been on investors' radar throughout the year. On ASX, Sezzle shares have skyrocketed 321.43% in last one month. However, in last six months, the value has depreciated by 52.16%. In last one year, the stock has fallen 86.69% and on year-to-date basis, the stock came down 71% (as of 10:59 AM AEST, 18 August 2022).
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