Katapult Holdings (KPLT)
NASDAQ:KPLT
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Katapult Holdings
(NASDAQ:KPLT)
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Rating:45Neutral
Price Target:
$6.00
▼(-14.53% Downside)
Action:ReiteratedDate:03/12/26
The score is held down primarily by weak financial quality (negative equity and negative operating/free cash flow) and a bearish technical trend (below key moving averages with negative MACD). Offsetting factors include a constructive earnings-call narrative with improving growth and positive adjusted EBITDA, but corporate-event waivers around loan covenants and limited valuation signal keep the overall score in the low range.
Positive Factors
Customer & application growth
Sustained, high single- to double-digit growth in applications, unique new customers and gross originations demonstrates durable product-market fit with merchants. Scale in originations and repeat customers supports long-term revenue expansion and strengthens commercial integrations with retail partners.
Negative Factors
Negative shareholders' equity & leverage
Persistently negative equity and material outstanding debt constrain financial flexibility and limit the firm's ability to absorb operating shocks. A weak capital base increases insolvency risk and makes funding organic growth or adverse cycles more reliant on external capital or dilutive restructurings.
Read all positive and negative factors
Positive Factors
Negative Factors
Customer & application growth
Sustained, high single- to double-digit growth in applications, unique new customers and gross originations demonstrates durable product-market fit with merchants. Scale in originations and repeat customers supports long-term revenue expansion and strengthens commercial integrations with retail partners.
Read all positive factors
Katapult Holdings (KPLT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$34.48M
Dividend YieldN/A
Average Volume (3M)110.33K
Price to Earnings (P/E)23.8
Beta (1Y)1.21
Revenue Growth16.56%
EPS Growth28.25%
CountryUS
Employees94
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-1.13
Shares Outstanding4,765,058
10 Day Avg. Volume80,643
30 Day Avg. Volume110,330
Financial Highlights & Ratios
PEG Ratio-0.24
Price to Book (P/B)-3.19
Price to Sales (P/S)0.11
P/FCF Ratio-2.71
Enterprise Value/Market Cap2.65
Enterprise Value/Revenue0.31
Enterprise Value/Gross Profit-1.08
Enterprise Value/Ebitda0.49
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-2.4
Revenue Forecast (FY)$339.80M
Katapult Holdings Business Overview & Revenue Model
Company Description
Katapult Holdings, Inc., an e-commerce focused financial technology company, provides e-commerce point-of-sale lease-purchase options for nonprime consumers in the United States. The company's technology platform provides nonprime consumers with a...
How the Company Makes Money
Katapult makes money primarily through economics associated with lease-to-own transactions it originates for merchant partners. In a typical transaction, a consumer selects Katapult’s LTO option at a participating merchant’s checkout; Katapult (di...
Katapult Holdings Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Neutral
Katapult Holdings demonstrated robust growth in applications, customers, revenue, and EBITDA, supported by a significant capital investment and expanded KPay originations. However, challenges in application quality, specific market categories, and macroeconomic uncertainties present headwinds, leading to a conservative Q4 outlook.Positive Updates
Significant Capital Investment
Katapult Holdings received a $65 million investment from Hawthorn Horizon Credit Fund, which allowed the company to pay off its term loan, reduce its revolving line of credit, and invest in growth opportunities.
Negative Updates
Decline in Application Quality
The company observed a slight downward trend in the credit quality of applications received, prompting tightened underwriting decisions.
Read all updates
Q3-2025 Updates
Positive
Negative
Significant Capital Investment
Katapult Holdings received a $65 million investment from Hawthorn Horizon Credit Fund, which allowed the company to pay off its term loan, reduce its revolving line of credit, and invest in growth opportunities.
Read all positive updates
Company Guidance
In the third quarter of 2025, Katapult Holdings provided detailed financial guidance and performance metrics during their earnings call. The company reported a $65 million capital investment from Hawthorn Horizon Credit Fund, which enabled them to pay off their term loan and invest in growth opportunities. Katapult saw a 76% increase in applications through the first three quarters of 2025, leading to a 35% growth in unique new customers year-over-year, with a 47% increase in the third quarter alone. Their total customer base grew by over 30%, and monthly active users rose by nearly 49% compared to the same period in 2024. The company's gross originations increased by 25.3%, with total app originations growing by 44% to $39.3 million. Katapult's revenue for Q3 grew by 22.8%, and they achieved $4.4 million in positive adjusted EBITDA, surpassing their forecasted range. Their Net Promoter Score (NPS) rose to 64, and 55.3% of gross originations came from repeat customers, whose lifetime value increased by about 5%. Looking forward, Katapult expects gross originations to grow between 15% and 20% in Q4 2025, with revenue growth projected at 21% to 23% and approximately $2 million in adjusted EBITDA. For the full year 2025, they anticipate gross originations to grow 20% to 23%, revenue to increase 18% to 20%, and adjusted EBITDA to be between $8 million and $9 million, representing significant year-over-year growth.Katapult Holdings Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 291.76M | 247.19M | 221.59M | 209.50M | 303.11M |
| Gross Profit | -84.24M | 45.77M | 41.71M | 37.41M | 88.99M |
| EBITDA | 186.73M | 161.48M | 137.12M | 95.94M | 182.22M |
| Net Income | 1.36M | -25.91M | -36.67M | -40.47M | 21.21M |
Balance Sheet | |||||
| Total Assets | 107.87M | 93.17M | 100.86M | 130.05M | 166.16M |
| Cash, Cash Equivalents and Short-Term Investments | 22.43M | 3.46M | 21.41M | 65.43M | 92.49M |
| Total Debt | 79.17M | 113.25M | 90.34M | 106.52M | 101.90M |
| Total Liabilities | 118.04M | 139.97M | 128.85M | 132.12M | 125.36M |
| Stockholders Equity | -10.17M | -46.79M | -27.99M | -2.07M | 40.80M |
Cash Flow | |||||
| Free Cash Flow | -11.97M | -32.62M | -18.39M | -22.35M | 730.00K |
| Operating Cash Flow | -11.93M | -32.57M | -17.41M | -20.85M | 2.17M |
| Investing Cash Flow | -1.10M | -1.30M | -974.00K | -1.50M | -1.44M |
| Financing Cash Flow | 19.97M | 21.61M | -22.64M | -4.24M | 26.10M |
Katapult Holdings Technical Analysis
Positive
7.02
Price Trends
6.58
Positive
6.80
Positive
9.96
Negative
Market Momentum
0.24
Negative
62.07
Neutral
62.01
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KPLT, the sentiment is Positive. The current price of 7.02 is above the 20-day moving average (MA) of 6.62, above the 50-day MA of 6.58, and below the 200-day MA of 9.96, indicating a neutral trend. The MACD of 0.24 indicates Negative momentum. The RSI at 62.07 is Neutral, neither overbought nor oversold. The STOCH value of 62.01 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KPLT.
Katapult Holdings Risk Analysis
Katapult Holdings disclosed 114 risk factors in its most recent earnings report. Katapult Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Katapult Holdings Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $41.05M | 640.13 | 0.58% | ― | 20.68% | 84.51% | |
54 Neutral | $49.71M | -0.21 | -2369.34% | ― | ― | ― | |
45 Neutral | $34.48M | 23.79 | -3.13% | ― | 16.56% | 28.25% | |
45 Neutral | $33.00M | -0.75 | -3.86% | ― | 134.43% | 95.39% |
* Technology Sector Average
KPLT
Katapult Holdings
7.24
-5.75
-44.26%
SOS
SOS
1.02
-3.58
-77.83%
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Aurora Mobile
6.84
-3.62
-34.63%
XBP
XBP Europe Holdings
4.23
-9.57
-69.35%
UBXG
U-BX Technology Ltd.
1.65
-2.72
-62.24%
Katapult Holdings Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Katapult Holdings Secures Waiver to Maintain Loan Agreement
Negative
Feb 20, 2026
On February 13, 2026, Katapult Holdings, Inc. entered into an Eighth Limited Waiver to its Amended and Restated Loan and Security Agreement after its credit parties failed to maintain the required minimum trailing three‑month net origination...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Katapult Holdings Secures Waiver to Cure Loan Default
Negative
Jan 15, 2026
On January 15, 2026, Katapult Holdings, Inc. entered into a Seventh Limited Waiver to its Amended and Restated Loan and Security Agreement with Midtown Madison Management LLC and other lenders after the company and its related credit parties faile...
M&A Transactions
Katapult Holdings Announces Major Merger Agreement
Neutral
Dec 15, 2025
On December 11, 2025, Katapult Holdings, Inc. entered into a merger agreement involving its subsidiaries and two other companies, CCF Holdings LLC and Aaron’s Intermediate Holdco, Inc. This complex transaction involves multiple exchanges of ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.