Katapult Holdings Inc
NASDAQ:KPLT
Katapult Holdings Inc
Katapult Holdings, Inc. is an e-commerce focused financial technology company offering e-commerce point-of-sale (“POS”) lease-purchase options for nonprime U.S. consumers. The company is headquartered in New York City, New York and currently employs 130 full-time employees. The company went IPO on 2019-11-05. The firm's lease-purchase platform, Katapult, is providing alternative solutions for retailers, consumers and non-prime consumer who may be unable to access traditional financing products to purchase everyday durable goods from its e-commerce merchant partners. Katapult provides technology that integrates seamlessly with online platforms, enabling the Company's retail partners to expand their customer base and transactions. The company offers Instant approvals up to $3,500. The firm offers its platform to e-commerce an in-store merchants. The company enables customers to make payments on a weekly, bi-weekly, semi-monthly or monthly basis, and it offers payment options, including allowing customers to make payments for their full renewal term, buyout, or return items if they have life cycle events, and others.
Katapult Holdings, Inc. is an e-commerce focused financial technology company offering e-commerce point-of-sale (“POS”) lease-purchase options for nonprime U.S. consumers. The company is headquartered in New York City, New York and currently employs 130 full-time employees. The company went IPO on 2019-11-05. The firm's lease-purchase platform, Katapult, is providing alternative solutions for retailers, consumers and non-prime consumer who may be unable to access traditional financing products to purchase everyday durable goods from its e-commerce merchant partners. Katapult provides technology that integrates seamlessly with online platforms, enabling the Company's retail partners to expand their customer base and transactions. The company offers Instant approvals up to $3,500. The firm offers its platform to e-commerce an in-store merchants. The company enables customers to make payments on a weekly, bi-weekly, semi-monthly or monthly basis, and it offers payment options, including allowing customers to make payments for their full renewal term, buyout, or return items if they have life cycle events, and others.
Growth Investment: Katapult secured a $65 million capital investment from Hawthorn Horizon Credit Fund, paying off its term loan and strengthening its balance sheet for growth.
Gross Originations: Gross originations rose 25.3% to $64.2 million in Q3, marking 12 straight quarters of growth and landing within guidance.
Revenue: Revenue grew 22.8% to $74 million in Q3, also within outlook and representing the tenth consecutive quarter of growth.
Customer Expansion: Applications increased 76% in the first 9 months, driving a 35% rise in new customers and a 49% jump in monthly active users.
Profitability: Adjusted EBITDA reached $4.4 million, above the $3–3.5 million outlook range, and operating income improved significantly year-over-year.
Guidance Update: Management issued a more cautious Q4 and full-year outlook due to macro uncertainty but expects continued double-digit growth in gross originations and revenue.
