Other Receivables (Tables)

3 Months Ended

Mar. 31, 2022

Receivables [Abstract]

Schedule of Other Receivables, Net

As of March 31, 2022 and December 31, 2021, Sezzle’s notes receivable, related allowance for uncollectible accounts, and deferred net origination fees are recorded within the consolidated balance sheets as follows:

As of	March 31, 2022		December 31, 2021
Notes receivable, gross	$	134,799,279	$	162,341,675
Less allowance for uncollectible accounts:
Balance at beginning of year	(23,114,173)		(11,133,146)
Provision	(10,465,595)		(52,621,682)
Charge-offs, net of recoveries totaling $1,427,547 and $6,153,728, respectively	13,878,435		40,640,655
Total allowance for uncollectible accounts	(19,701,333)		(23,114,173)
Notes receivable, net of allowance	115,097,946		139,227,502
Deferred Sezzle income	(4,611,497)		(5,240,919)
Notes receivable, net	$	110,486,449	$	133,986,583

As of March 31, 2022 and December 31, 2021, the balance of other receivables, net, on the consolidated balance sheets is comprised of the following:

As of	March 31, 2022		December 31, 2021
Account reactivation fees receivable, net	$	348,401	$	1,325,443
Receivables from merchants, net	1,777,352		3,758,656
Other receivables, net	$	2,125,753	$	5,084,099

As of March 31, 2022 and December 31, 2021, Sezzle’s account reactivation fees receivable and related allowance for uncollectible accounts are recorded within the consolidated balance sheets as follows:

As of	March 31, 2022		December 31, 2021
Account reactivation fees receivable, gross	$	2,143,361	$	3,016,514
Less allowance for uncollectible accounts:
Balance at start of period	(1,691,071)		(1,071,588)
Provision	(2,320,268)		(6,128,851)
Charge-offs, net of recoveries totaling $327,068 and $1,273,319, respectively	2,216,379		5,509,368
Total allowance for uncollectible accounts	(1,794,960)		(1,691,071)
Account reactivation fees receivable, net	$	348,401	$	1,325,443