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, 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.
Katapult, a leader in eCommerce point-of-sale lease-purchase solutions, announced a new direct apply feature that simplifies the shopping experience for nonprime consumers. Customers can now apply directly on Katapult.com for a pre-approved lease amount, enhancing confidence when shopping at various retailers like furniture and gaming stores. This feature aligns with Katapult's mission to remove financial barriers and provide alternative solutions without credit requirements. By partnering with Katapult, retailers can access an underserved customer base.
Katapult Holding, an e-commerce focused financial technology company, will present at the 2021 Canaccord Genuity 41st Annual Growth Conference on August 12, 2021, at 8:30 a.m. Eastern Time. Presenters include CEO Orlando Zayas, CFO Karissa Cupito, and COO Derek Medlin. The event will be webcast live, accessible through the Katapult Investor Relations website. Katapult offers point of sale lease purchase options aimed at nonprime consumers, utilizing a sophisticated technology platform for seamless integration and customer experience.
Katapult Holdings reported Q2 2021 financial results with a 27.6% increase in total revenue, reaching $77.5 million. Year-to-date revenue surged 52.6% to $158.1 million. However, the company faced a net loss of $8.1 million, contrasting with net income in the same period last year. Adjusted EBITDA decreased 64.8% to $3.9 million, indicating increased investments in growth initiatives. Katapult has removed its guidance for 2021 due to uncertainties in consumer behavior and macroeconomic trends.
Katapult announced it will release its financial results for the second quarter ended June 30, 2021, on August 10, 2021, before market opening. A conference call and webcast will be held at 8:00 AM ET the same day to discuss the results. Investors can access the live audio webcast on the Katapult Investor Relations website. A replay of the call will be available after the event until August 24, 2021. The contact details for investor inquiries are provided, including the VP of Investor Relations, Bill Wright.
Katapult Holdings, a financial technology company, will ring the Nasdaq Opening Bell on July 8, 2021, celebrating its recent public listing under ticker KPLT. This event marks a significant milestone for the company, which began trading on June 10, 2021. CEO Orlando Zayas expressed excitement about celebrating this accomplishment alongside the Katapult team. Katapult specializes in omnichannel lease-purchase solutions, empowering retailers and consumers with integrated technology to enhance customer engagement and transaction volume.
Katapult Holdings reported a strong first quarter for 2021, with total revenue reaching $80.6 million, an 88% increase year-over-year. Gross originations climbed 71% to $63.7 million. Net income hit $8.1 million, marking a 120% increase. Adjusted net income rose to $9.3 million, up 146%. The company onboarded 26 new retailers, including Motorola and Cybertron, and anticipates FY 2021 gross originations between $375 million and $425 million. Katapult's Adjusted EBITDA for Q1 was $14.7 million, a 122% growth.
Katapult Holdings (NASDAQ: KPLT) commenced trading on the Nasdaq on June 10, 2021, following its merger with FinServ Acquisition Corp. The CEO, Orlando Zayas, highlighted significant revenue growth and emphasized the company’s mission to empower nonprime consumers. As a leading financial technology firm, Katapult aims to enhance e-commerce by offering flexible lease-purchase solutions for retailers and consumers. The merger positions Katapult for continued growth and operational expansion.
Katapult Holdings, Inc. has successfully merged with FinServ Acquisition Corp., with the combined entity now trading under the ticker KPLT on Nasdaq. This merger, approved by FinServ's stockholders on June 7, 2021, was finalized on June 9, 2021. Katapult focuses on providing an omnichannel lease-purchase platform, enhancing e-commerce financial solutions for retailers and consumers. The company will release its first-quarter financial results on June 15, 2021, before market open, hosting a conference call at 8:00 AM ET.
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