Welcome to our dedicated page for Katapult Holdings news (Ticker: KPLT), a resource for investors and traders seeking the latest updates and insights on Katapult Holdings stock.
Katapult Holdings, Inc. (NASDAQ: KPLT) is an innovative technology-driven lease-to-own (LTO) platform designed to empower underserved U.S. non-prime consumers. Through seamless integration with omni-channel retailers and e-commerce platforms, Katapult facilitates the purchase of everyday durable goods for consumers who might otherwise lack access to traditional financing options.
Katapult partners with both online and brick-and-mortar retailers across the United States, enabling these businesses to expand their customer base by offering LTO solutions to sub-prime consumers. This strategic partnership not only boosts sales for retailers but also provides a mainstream shopping experience to consumers who typically might shop at rent-to-own stores, buy second-hand goods, or forego purchases altogether.
The company's recent achievements include a partnership with Grown Brilliance, a leader in ethically engineered lab-grown diamonds, integrating Katapult's LTO solution into its payment checkout flow. This collaboration allows consumers to acquire high-quality, lab-grown diamonds, thereby expanding the variety of durable goods accessible through Katapult’s lease offerings.
Katapult's approval process is quick and easy, providing consumers with immediate purchasing power. The platform supports major e-commerce integrations and offers custom solutions, facilitating a hassle-free experience for both retailers and consumers. For online retailers, Katapult’s integration process is streamlined and supported by major e-commerce platforms, while physical stores require no special equipment to start offering financing options.
The company’s financial condition continues to show growth as evidenced by its preliminary unaudited results for the fourth quarter of 2023. Katapult reported gross originations of approximately $67.5 million, marking a 13% year-over-year increase, and revenue of approximately $58.0 million, an 18.7% year-over-year growth. This consistent performance highlights the effectiveness of Katapult’s business model and its positive impact on both merchants and consumers.
Katapult also continues to innovate with products like Katapult Pay™, a mobile app that broadens the reach of its LTO solutions. This app allows consumers to shop a growing network of merchant partners with ease and transparency, further humanizing the way underserved consumers access the goods they need.
For more information, retailers interested in integrating Katapult’s LTO solution can contact their sales team, and consumers looking to unlock financial purchasing power can download Katapult’s app from the Apple App Store or Google Play.
Katapult Holdings reported its Q4 2022 financial results, highlighting a 1.5% year-over-year growth in gross originations, totaling $59.8 million. However, total revenue decreased by 33.4% to $48.8 million, primarily due to the adoption of ASC 842. The company recorded a net loss of $14.4 million, with a significant adjusted EBITDA loss of $5.0 million. Despite a challenging macro environment, Katapult added 21 new direct merchants in Q4 and aims to reduce operating expenses by over 10% in 2023. It expects continued growth in gross originations and improved credit quality. A conference call was scheduled for March 9, 2023, to discuss these results further.
Katapult Holdings (NASDAQ: KPLT) will announce its Q4 2022 financial results on March 9, 2023, prior to market opening. A conference call is scheduled for the same day at 8:00 AM ET to discuss these results. Interested parties can access presentation materials on the Investor Relations page and listen to the call live via webcast. Katapult focuses on providing lease-to-own solutions for underserved U.S. consumers, integrating with retailers and e-commerce platforms for seamless financing options. For more information, visit the company's website.
Katapult Holdings (NASDAQ: KPLT) has partnered with iBUYPOWER, a leading custom gaming PC manufacturer, to enhance access to gaming equipment for consumers with limited credit options. This collaboration aims to offer flexible payment solutions for gaming PCs and accessories amid rising costs affecting consumers this holiday season. A study reveals that 78% of consumers with nonprime credit scores are open to using such options for holiday purchases. The deal underscores Katapult's commitment to integrating lease-purchase solutions across various retail sectors.
Katapult Holdings has appointed Nancy Walsh as the new Chief Financial Officer, effective December 12, 2022. She succeeds Karissa Cupito, who transitions to a senior advisory role after five years. Walsh, previously CFO at LL Flooring Holdings, brings extensive experience in finance and leadership within publicly traded retail companies. CEO Orlando Zayas highlighted the timing as crucial for the lease-to-own sector, noting Walsh's expertise aligns with the company's growth trajectory. Cupito expressed pride in her tenure and confidence in Walsh's ability to advance Katapult's objectives.
Katapult reported a third quarter 2022 revenue of $50.3 million, down $21.4 million from last year, attributed largely to the adoption of ASC 842. Despite challenges, the company announced an exclusive partnership with Sears and launched the Katapult Mobile App and Katapult Pay™, generating over $2 million in gross originations. The net loss was $8.2 million, with adjusted EBITDA of $(2.3) million. Customer satisfaction remains high with a Net Promoter Score of 58.
Katapult Holdings will participate in the Stephens Annual Investment Conference on November 15, 2022, at 1:00 PM ET.
CEO Orlando Zayas and CFO Karissa Cupito will engage in a fireside chat, with a live audio webcast available on Katapult's Investor Relations website.
The company focuses on revolutionizing lease-to-own solutions using advanced AI and ML technology, providing access to ownership for those underserved by traditional credit.
For more information, visit www.katapult.com.
Katapult Holdings, Inc. (NASDAQ: KPLT) will announce its third quarter financial results for the period ending September 30, 2022, on November 9, 2022, before the market opens. The company operates a lease-to-own platform that assists non-prime customers with online shopping. A conference call is scheduled for 8:00 AM ET on the same day to discuss the results, which will be available via live audio webcast. Investors can access the call through the Katapult Investor Relations website.
Katapult partners with furniture supplier 1StopBedrooms to provide lease-to-own options, improving access for nonprime consumers seeking quality home furnishings. The partnership allows customers to enjoy flexible purchasing despite limited credit options, enhancing their shopping experience with transparent lease-purchase plans.
Katapult's technology streamlines online integration for merchants, driving higher transaction volumes and customer loyalty. This collaboration reflects Katapult's commitment to expanding consumer access in the furniture market while promoting financial inclusivity.
PLANO, Texas, Sept. 08, 2022 - Katapult adds SimpleTire to its merchant network, enhancing financing options for customers with non-prime credit. The partnership aims to provide these consumers a transparent lease-purchase solution for tire purchases, addressing immediate needs. CEO Orlando Zayas emphasized that this collaboration allows consumers to manage expenses while facing economic challenges like inflation. Katapult supports various retailers, ensuring a seamless checkout experience. SimpleTire is recognized for its extensive tire inventory and was named a top workplace in the tire industry.
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