Katapult reports Q1 EPS 7c vs. ($1.23) last year

Reports Q1 revenue $79.0M vs. $71.95M last year. “We remain focused on providing the innovative, transparent and reliable LTO platform that our customers want and deserve,” said Orlando Zayas, CEO. “We believe our healthy Net Promoter Scores and repeat customer rates combined with increasing customer lifetime value, demonstrate the affinity consumers across the US have for Katapult (KPLT). While our first quarter gross originations performance was impacted by macroeconomic headwinds, we posted our 14th consecutive quarter of growth and early in the second quarter, we are already seeing a bit of acceleration. Our revenue growth remained strong and this coupled with our continued focus on fiscal responsibility allowed us to deliver more than $6.4M in Adjusted EBITDA. As we continue to hit new operating milestones, we are looking forward to consummating our pending merger with Aaron’s and CCF Holdings. We believe this combination will enhance our ability to meet the evolving needs of nonprime consumers by creating the scale and scope we need to unlock the value of our business model. We are very excited about the future.”