Katapult Holdings Inc Stock Price, News & Analysis

Katapult Holdings, Inc. (NASDAQ: KPLT) has announced it will release its first quarter 2023 financial results on May 11, 2023, before the market opens. A conference call and webcast will be conducted at 8:00 AM ET to discuss these results. Investors can access a live audio webcast on the Katapult Investor Relations website and a replay will be made available afterward.

Katapult is focused on providing a technology-driven lease-to-own platform that aids underserved U.S. non-prime consumers in purchasing durable goods through e-commerce and retailers. Their service includes POS integrations and a mobile app, Katapult Pay™, which offers transparent financing solutions.

Katapult Holdings reported its Q4 2022 financial results, highlighting a 1.5% year-over-year growth in gross originations, totaling $59.8 million. However, total revenue decreased by 33.4% to $48.8 million, primarily due to the adoption of ASC 842. The company recorded a net loss of $14.4 million, with a significant adjusted EBITDA loss of $5.0 million. Despite a challenging macro environment, Katapult added 21 new direct merchants in Q4 and aims to reduce operating expenses by over 10% in 2023. It expects continued growth in gross originations and improved credit quality. A conference call was scheduled for March 9, 2023, to discuss these results further.

Katapult Holdings (NASDAQ: KPLT) will announce its Q4 2022 financial results on March 9, 2023, prior to market opening. A conference call is scheduled for the same day at 8:00 AM ET to discuss these results. Interested parties can access presentation materials on the Investor Relations page and listen to the call live via webcast. Katapult focuses on providing lease-to-own solutions for underserved U.S. consumers, integrating with retailers and e-commerce platforms for seamless financing options. For more information, visit the company's website.

Katapult Holdings (NASDAQ: KPLT) has partnered with iBUYPOWER, a leading custom gaming PC manufacturer, to enhance access to gaming equipment for consumers with limited credit options. This collaboration aims to offer flexible payment solutions for gaming PCs and accessories amid rising costs affecting consumers this holiday season. A study reveals that 78% of consumers with nonprime credit scores are open to using such options for holiday purchases. The deal underscores Katapult's commitment to integrating lease-purchase solutions across various retail sectors.

Katapult Holdings has appointed Nancy Walsh as the new Chief Financial Officer, effective December 12, 2022. She succeeds Karissa Cupito, who transitions to a senior advisory role after five years. Walsh, previously CFO at LL Flooring Holdings, brings extensive experience in finance and leadership within publicly traded retail companies. CEO Orlando Zayas highlighted the timing as crucial for the lease-to-own sector, noting Walsh's expertise aligns with the company's growth trajectory. Cupito expressed pride in her tenure and confidence in Walsh's ability to advance Katapult's objectives.

Katapult reported a third quarter 2022 revenue of $50.3 million, down $21.4 million from last year, attributed largely to the adoption of ASC 842. Despite challenges, the company announced an exclusive partnership with Sears and launched the Katapult Mobile App and Katapult Pay™, generating over $2 million in gross originations. The net loss was $8.2 million, with adjusted EBITDA of $(2.3) million. Customer satisfaction remains high with a Net Promoter Score of 58.

Katapult Holdings will participate in the Stephens Annual Investment Conference on November 15, 2022, at 1:00 PM ET.

CEO Orlando Zayas and CFO Karissa Cupito will engage in a fireside chat, with a live audio webcast available on Katapult's Investor Relations website.

The company focuses on revolutionizing lease-to-own solutions using advanced AI and ML technology, providing access to ownership for those underserved by traditional credit.

For more information, visit www.katapult.com.