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 (NASDAQ: KPLT) will release its second quarter financial results for the period ending June 30, 2022, on August 9, 2022, before the market opens. The company provides lease-to-own solutions for non-prime customers and integrates with various retail platforms. A conference call is scheduled for the same day at 8:00 AM ET to discuss these results. Investors can listen live on the Katapult Investor Relations website.
Katapult Holdings, Inc. (NASDAQ:KPLT) has appointed Reid Bork as Chief Revenue Officer. Bork will enhance Katapult's sales strategy, focusing on expanding merchant partnerships and optimizing customer engagement. He brings experience from Sezzle, where he grew enterprise revenue by 800% in 18 months, and PayPal, where he managed multinational clients. CEO Orlando Zayas emphasized Bork's proven leadership and client service skills, which align with Katapult's commitment to growth and teamwork. Katapult is a lease-to-own platform catering to non-prime customers, leveraging AI and machine learning for customer prediction.
Katapult Holdings, a financial technology company focused on e-commerce, will participate in the Barclays Emerging Payments and Fintech Forum. CEO Orlando Zayas and CFO Karissa Cupito will engage in a fireside chat and discuss Q1 performance on May 16, 2022, at 4:40 PM ET. Investors can tune in through the Katapult Investor Relations website, where a replay will be available afterward. With a mission to empower non-prime consumers, Katapult offers point-of-sale lease purchase options, enhancing access to traditional financial products.
Katapult Holdings reported a first quarter 2022 revenue of $59.9 million, down $20.7 million from the prior year. This decline includes $3.0 million due to ASC 842 adoption. Gross originations fell 27% to $46.7 million, impacted by macroeconomic challenges and tighter underwriting. The company recorded a net loss of $5.6 million and an adjusted net loss of $7.6 million, a significant decrease from an adjusted net income of $9.2 million in the previous year. Katapult maintained $80.6 million in cash and remains optimistic about future growth opportunities.
Katapult Holdings, Inc. (NASDAQ: KPLT) will release its first quarter financial results for the period ending March 31, 2022, on May 10, 2022, prior to market opening. The company will host a conference call at 8:00 AM ET on the same day to discuss the results. Investors can access the earnings call via the Katapult Investor Relations website or through dial-in options. Additionally, Katapult is scheduled to conduct its 2022 Annual Meeting of Stockholders on June 7, 2022, as a virtual-only event, with the record date set for April 8, 2022.
Katapult has appointed Jay Diamonon as Vice President of Strategic Partnerships and Eric Harmon as Vice President of Strategy and Corporate Development, as announced on March 23, 2022. Diamonon, with 15 years in fintech, previously led partnerships at Adyen and BBVA, while Harmon, with extensive experience in alternative data product development, comes from UBS. Both executives are expected to enhance Katapult's growth by securing retail partnerships and defining strategic priorities, respectively. CEO Orlando Zayas expressed confidence in their capabilities to drive the company's success.
Katapult Holdings reported its Q4 and full-year 2021 financial results on March 15, 2022, with Q4 revenue of $73.3 million, unchanged year-over-year. For full-year 2021, revenue increased by 23% to $303.1 million. Despite adding 20 new merchants in Q4, gross originations fell by 4% to $58.9 million due to macro challenges. The company ended 2021 with $92.5 million in unrestricted cash and an adjusted net loss of $(4.8) million for Q4. CEO Orlando Zayas expressed optimism for 2022, focusing on long-term growth strategy despite tighter underwriting policies.
Katapult has announced the hiring of Colleen Gorsky as Chief Marketing Officer and Jorge Diaz as Chief Human Resource Officer to bolster the company's growth phase. Gorsky, with over 20 years of experience in marketing, previously held key roles at Klarna, Spotify, and Pandora. Diaz brings 25 years of HR experience, having worked with Coyote Logistics and Fleetmatics. CEO Orlando Zayas emphasized their mission to empower those underserved by traditional finance. Katapult aims to enhance brand awareness and execute talent strategies to support its expansion.
Katapult has partnered with Poly & Bark to provide a lease-to-own option for customers, enhancing access to quality furniture for non-prime consumers. This collaboration aims to offer transparent, customer-focused payment solutions, allowing Poly & Bark to attract a broader customer base. The initiative supports underserved segments, fostering brand loyalty and increasing sales. Katapult's platform seamlessly integrates with e-commerce, ensuring a smooth checkout process for consumers while allowing retailers to focus on growth.
Katapult, a lease-to-own platform, announced the appointment of Joyce Phillips and Jane J. Thompson to its Board of Directors, effective immediately. Both directors will stand for election at the 2022 Annual Meeting of Stockholders. Ms. Phillips brings over 25 years of experience in retail banking and financial services, while Ms. Thompson has a strong background in retail and customer-focused organizations. Their appointments aim to enhance Katapult's strategic expertise and support its growth in offering financial solutions for non-prime customers.
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