Katapult Holdings, Inc. Warrant - KPLTW STOCK NEWS

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.