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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, 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.
Katapult Holdings, a leading e-commerce financial technology firm, plans to release its fourth quarter financial results for the period ending December 31, 2021, on March 15, 2022, before the market opens. The company will hold a conference call and webcast at 8:00 AM ET on the same day to discuss these results. Investors can access the live audio webcast on the Katapult Investor Relations website. A replay of the call will be available until March 29, 2022.
CURO Group Holdings Corp. (NYSE: CURO) reported its Q4 2021 results, showing an 11% increase in revenue to $224.3 million compared to Q4 2020. The company acquired Heights Finance, contributing $472 million to gross loans receivable, which grew by 179.6% year-over-year. Net loss reached $28.9 million, reflecting increased loan provisioning and operating expenses. For the full year, total revenue was $817.8 million, a 3.5% decrease compared to 2020. Despite challenges, CURO focused on growth and execution of acquisitions to expand its lending capabilities.
Katapult Holdings, Inc. (NASDAQ: KPLT) announced its Gross Originations totaled $40.4 million from October 1 to November 30, 2021, a 3.2% decrease compared to $41.7 million during the same period in 2020, but an increase from $26.1 million in 2019. CEO Orlando Zayas cited ongoing economic trends impacting performance. Katapult plans to release detailed metrics at their fourth-quarter report in 2022. The company also participated in a fireside chat at the Stephens Annual Investment Conference on December 1, 2021.
Katapult Holdings, a financial technology company focused on e-commerce, will participate in the Stephens Annual Investment Conference. CEO Orlando Zayas and CFO Karissa Cupito will host a fireside chat and discuss the company’s fourth quarter performance on December 1, 2021, at 5:00 PM ET. The live audio webcast will be accessible on the Katapult Investor Relations site, with an archived version available afterward. Katapult (NASDAQ: KPLT) offers lease purchase options for nonprime consumers, enhancing access to durable goods through its advanced technology platform.
Katapult Holdings, Inc. (NASDAQ: KPLT) reported its third-quarter 2021 financial results, revealing a total revenue of $71.7 million, marking a 1% increase from Q3 2020 and a 32% increase year-to-date to $229.8 million. The company's net income stood at $13.7 million, bolstered by a $21.3 million revaluation gain. Despite challenges from supply chain disruptions, gross originations were $61.0 million, up 1%. Katapult maintains a healthy cash position of $99.7 million and achieved a 60 Net Promoter Score, reflecting strong customer satisfaction.
Katapult, a financial technology company focused on eCommerce, has upgraded its partnership with Adobe to become an Accelerate partner in the Adobe Exchange Program. This partnership enhances collaboration between Katapult and Adobe, allowing merchants using Adobe Commerce to receive prioritized support and access to real-time data. The integration of Katapult's lease-purchase solution with Adobe Commerce aims to improve the checkout experience for consumers while enabling merchants to grow their business more effectively. Katapult continues to prioritize consumer needs through transparent payment options.
Katapult will announce its third quarter financial results for the period ending September 30, 2021, on November 9, 2021, prior to market opening. A conference call will take place at 8:00 AM ET on the same day to discuss the results. Investors can access a live audio webcast via Katapult's Investor Relations website. The call will also be available for replay until November 23, 2021. The conference ID for dial-in is 9768849.
Katapult has launched its eCommerce point-of-sale lease-purchase solution through an integration with Salesforce Commerce Cloud. This innovation allows retailers to offer a seamless checkout experience, catering to customers with no or developing credit. Retail partners can expect incremental growth and an expanded customer base as the integration streamlines their processes. Katapult's technology aims to enhance transactions and improve customer loyalty, providing consumers access to durable goods when needed.
Katapult, a financial technology company, announced efforts to assist communities affected by Hurricane Ida. The firm will donate $50,000 to the American Red Cross, aiding relief in Louisiana and Mississippi. They are also offering hardship support to customers in impacted areas by providing temporary payment reductions on lease payments. Katapult aims to support its customers and retail partners during this crisis, emphasizing its commitment to their safety and well-being amid the ongoing recovery efforts.
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