Welcome to our dedicated page for Katapult Holdings news (Ticker: kpltw), a resource for investors and traders seeking the latest updates and insights on Katapult Holdings stock.
Katapult Holdings Inc (NASDAQ: KPLTW) provides innovative lease-to-own solutions through its technology platform, serving non-prime consumers and retail partners nationwide. This news hub offers investors and stakeholders timely updates about the company's financial developments, strategic initiatives, and market positioning.
Access official press releases and curated analysis covering earnings announcements, merchant partnership expansions, product innovations like Katapult Pay, and operational milestones. Our repository simplifies tracking regulatory filings, leadership updates, and consumer financing trends in the evolving FinTech sector.
Discover updates about Katapult's unique value proposition including transparent pricing models, omni-channel retail integrations, and consumer-first policies. The collection serves as an essential resource for understanding the company's role in bridging accessibility gaps for underserved markets through alternative credit solutions.
Bookmark this page for direct access to verified information about KPLTW, featuring critical updates that impact investment decisions and industry analysis. Check regularly for new developments in lease-to-own financing and Katapult's expanding network of 1,000+ merchant partners across durable goods categories.
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.
Katapult has launched the Katapult Cartridge for B2C Commerce on Salesforce AppExchange, enabling merchant partners to reach nonprime consumers who lack access to traditional credit. This lease-to-own (LTO) solution offers multiple ownership options without late fees or penalties, ensuring transparent terms. CEO Orlando Zayas highlighted the LTO's potential to broaden retailers' markets and enhance customer satisfaction. Casper, a Salesforce platform user, has recently partnered with Katapult to extend its product reach. Salesforce's Alice Steinglass praised the addition for expanding access to a new customer base.
Katapult Holdings reported an 18.1% year-over-year revenue increase in Q1 2024, achieving $65.1 million in total revenue. Gross originations grew by 1.6% to $55.6 million. The company reduced total operating expenses by 18.5% and reported a net loss of $0.6 million, a significant improvement from the $10.5 million loss in Q1 2023. Katapult also reported adjusted net income of $1 million and a positive adjusted EBITDA of $5.6 million. Notable operational highlights include the launch of new features, integrations, and partnerships, as well as a strong repeat purchase rate of 56%. The company anticipates continued growth with a forecasted 10% increase in gross originations and revenue for the full year 2024.
Katapult Holdings, Inc. (NASDAQ: KPLT) will announce its first quarter 2024 financial results on May 15, 2024. The company, an e-commerce-focused financial technology firm, will host a conference call and webcast to discuss the results on the same day at 8:00 AM ET.
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