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Katapult Holdings Inc is a technology driven lease-to-own platform that integrates with omni-channel retailers and e-commerce platforms to power the purchase of everyday durable goods for underserved U.S. non-prime consumers. It is an E-Commerce focused FinTech company offering an innovative lease-purchase solution to consumers and enabling essential transactions at the merchant point of sale. Katapult is associated with hundreds of retailers across the United States.
In the latest news, Katapult Holdings, Inc. reported its financial results for the fourth quarter of December 31, 2023. The company experienced double-digit year-over-year increases in gross originations and revenue, driven by new direct integrations with merchant partners like Lenovo and Grown Brilliance. Consumers can now use Katapult's lease-to-own product to shop for various durable goods with transparent pricing, fair terms, and no late fees. The company experienced growth in new customers and had a customer repeat rate of approximately 60%.
Katapult expects continued growth in 2024, focusing on enhancing the customer journey and merchant selection. The company's financial performance in 2023 demonstrated its ability to grow the top-line without significantly adding to the expense structure, positioning it for sustainable and profitable growth in the future.
Katapult Holdings, Inc. emphasizes humanizing the way underserved consumers get the things they need with payment solutions based on fairness and dignity.
Katapult Holdings (NASDAQ: KPLT) reported Q3 2024 financial results with 10% revenue growth to $60.3 million and gross originations increase of 3.3% to $51.2 million. The company recorded a net loss of $8.9 million. Katapult Pay showed strong performance with 86% year-over-year growth in gross originations, representing 31% of total originations. The company maintains a positive outlook for Q4 2024, expecting 6-8% growth in gross originations and 5-7% revenue increase. For full year 2024, Katapult projects gross originations growth of 2-4% and approximately $5.5 million in Adjusted EBITDA.
Katapult Holdings (NASDAQ: KPLT), an e-commerce-focused financial technology company, has scheduled the release of its third quarter 2024 financial results for Wednesday, November 6, 2024, before market opening. The company will host a conference call and webcast at 8:00 AM ET on the same day to discuss the results. Investors can access the live audio webcast through Katapult's Investor Relations website, where a replay will also be available after the call.
Katapult Holdings, Inc. (NASDAQ: KPLT) has entered an exclusive agreement with RedPocket Mobile to integrate its lease-to-own (LTO) solution into RedPocket's checkout flow. This partnership aims to provide nonprime consumers with greater access to top-tier mobile devices. Katapult's LTO option offers a flexible and transparent alternative to traditional financing, with benefits including upfront cost disclosure, no surprise fees, and no long-term obligations.
RedPocket Mobile's COO, Joshua Berman, emphasized that this partnership creates a path to ownership for customers regardless of credit history. Katapult's CEO, Orlando Zayas, highlighted the importance of making essential mobile devices more accessible to nonprime customers. The integration is expected to empower underserved individuals to obtain necessary mobile technology in today's digital age.
Katapult Holdings, Inc. (NASDAQ: KPLT), an e-commerce focused fintech company, announced its participation in the H.C. Wainwright 26th Annual Global Investment Conference from September 9-11, 2024. CEO Orlando Zayas and CFO Nancy Walsh will represent the company, with Zayas delivering a presentation on Katapult's business overview.
The presentation will be available virtually on-demand starting at 7:00 AM ET on September 9, 2024. Interested parties can access the audio webcast through Katapult's Investor Relations website. Institutional investors can register for the conference through the provided link to listen to the company's presentation.
Katapult Holdings, Inc. (NASDAQ: KPLT) has promoted Derek Medlin to the newly created role of president and chief growth officer (CGO). In this position, Medlin will lead business development, marketing, and operations teams, focusing on accelerating gross originations and revenue growth while driving operational efficiencies. His core responsibilities include building new and deepening existing relationships with merchants and strategic partners.
Medlin transitions from his previous role as chief operating officer (COO), where he helped expand gross originations and revenue, which exceeded $230 million over the last twelve months. Notable achievements include spearheading direct-to-consumer efforts, scaling global operations, and launching the Katapult app and Katapult Pay feature, which represented 28% of gross originations in Q2 2024. Under his leadership, Katapult's customer NPS score reached 62, and the repeat purchase rate was 59.3% in Q2 2024.
Katapult Holdings, Inc. (NASDAQ: KPLT) reported strong Q2 2024 financial results, with revenue growing 8.7% year-over-year to $58.9 million. The company achieved its seventh consecutive quarter of year-over-year gross originations growth, reaching $55.3 million, a 1.1% increase. Notably, Katapult Pay gross originations more than doubled, representing 28% of total gross originations.
Despite challenges in the home furnishings category, non-Wayfair gross originations grew nearly 20%. The company launched new waterfall relationships with Meineke, PayTomorrow, and Adorama, expanding its lease-to-own offering. Katapult reiterated its full-year 2024 outlook, expecting at least 10% growth in both gross originations and revenue, as well as positive Adjusted EBITDA for the full year.
Katapult Holdings, Inc. (NASDAQ: KPLT), an e-commerce-focused fintech company, has announced a partnership with Meineke, a leading automotive repair chain. Meineke has added Katapult's lease-to-own (LTO) solution to its consumer application process, Meineke Payment Solutions. This partnership, endorsed by the Meineke Dealers Association, aims to provide non-prime consumers with access to automotive products through transparent lease options.
Key points of the partnership include:
- Katapult's LTO will be offered to customers who may not qualify for traditional financing
- Meineke franchise owners can tap into a new, underserved customer segment
- Customers can use Katapult's text-to-checkout technology for lease transactions
This collaboration is expected to expand Meineke's customer base and provide financial flexibility to consumers, especially considering that 37% of US adults struggle to cover a $400 emergency expense.
Katapult Holdings, Inc. (NASDAQ: KPLT), an e-commerce-focused fintech company, has announced it will release its second quarter 2024 financial results before the market opens on Wednesday, August 14, 2024. The company will host a conference call and webcast to discuss these results at 8:00 AM ET on the same day. Investors and interested parties can access the live audio webcast of the conference call on the Katapult Investor Relations website. A replay of the call will also be available on the investor relations website following the event. This announcement provides shareholders and analysts with a clear timeline for accessing Katapult's latest financial performance data and insights.
Katapult Holdings, Inc. (NASDAQ: KPLT) has announced a strategic partnership with PayTomorrow, , integrating Katapult's lease-to-own (LTO) option into PayTomorrow's waterfall financing platform. This collaboration aims to provide consumers with more flexible payment options and help merchants expand their customer base.
Key points:
- PayTomorrow's platform serves over 2,700 merchant partners across multiple categories
- Katapult's LTO solution targets nonprime consumers who may not qualify for traditional financing
- The partnership is expected to drive incremental sales, higher conversion rates, and increased repeat purchases for merchants
- Extreme Customs, a merchant using both Katapult and PayTomorrow, reports positive results from offering multiple payment options
Katapult Holdings (NASDAQ: KPLT) has launched a new product, Katapult Layoff Insurance, powered by Harmonic, aimed at providing financial security for customers facing involuntary job loss. This offering provides up to $2,000 in cash benefits for a low monthly payment, accessible through the Katapult mobile app and website. Eligible customers can claim benefits after a 90-day waiting period by proving state unemployment eligibility. The insurance offers a simple claims process, flexible payouts, and can supplement other income assistance. This initiative underscores Katapult's commitment to providing financial solutions for nonprime consumers.
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