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Katapult Holdings
(NASDAQ:KPLT)
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Rating:47Neutral
Price Target:
$6.00
▼(-11.76% Downside)
Action:Reiterated
Date:08/07/26
The score is held down primarily by weak financial quality (negative equity and negative operating/free cash flow despite the recent earnings rebound) and bearish technicals (price below key moving averages with negative MACD). A low P/E provides valuation support, while corporate events are a mixed catalyst due to merger progress tempered by litigation and deal-execution risk.
Positive Factors
Revenue Recovery
A nearly 96% TTM revenue rebound and return to modest net profitability indicate the core lease-to-own demand and platform distribution are recovering. Sustained revenue growth and returning margins improve earnings power and support longer-term merchant relationships and originations.
Negative Factors
Negative Stockholders' Equity
Persistent negative equity signals prior losses and a fragile capital base, limiting capacity to absorb shocks or raise unsecured capital. Even with deleveraging, the equity deficit elevates refinancing and covenant risk, constraining strategic flexibility over months ahead.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery
A nearly 96% TTM revenue rebound and return to modest net profitability indicate the core lease-to-own demand and platform distribution are recovering. Sustained revenue growth and returning margins improve earnings power and support longer-term merchant relationships and originations.
Read all positive factors
Katapult Holdings (KPLT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$30.58M
Dividend YieldN/A
Average Volume (3M)110.33K
Price to Earnings (P/E)5.0
Beta (1Y)0.76
Revenue Growth17.62%
EPS GrowthN/A
CountryUS
Employees87
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)1.49
Shares Outstanding4,792,405
10 Day Avg. Volume80,643
30 Day Avg. Volume110,330
Financial Highlights & Ratios
PEG Ratio0.55
Price to Book (P/B)-0.81
Price to Sales (P/S)0.11
P/FCF Ratio-2.56
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-2.4
Revenue Forecast (FY)$326.80M
Katapult Holdings Business Overview & Revenue Model
Company Description
Katapult Holdings, Inc. is a financial technology company specializing in e-commerce. It offers lease-to-own financing solutions directly at the online point of sale, catering specifically to nonprime consumers across the United States. Leveraging...
How the Company Makes Money
Katapult makes money primarily by facilitating and servicing lease-to-own transactions between consumers and participating merchants. Under its model, a consumer selects goods from a merchant and applies through Katapult’s platform; if approved, t...
Katapult Holdings Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 11, 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
54
Neutral
Balance Sheet
28
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 301.71M | 291.76M | 247.19M | 221.59M | 209.50M | 303.11M |
| Gross Profit | 55.79M | 51.60M | 45.77M | 41.71M | 37.41M | 88.99M |
| EBITDA | 252.53M | 215.38M | 161.48M | 137.12M | 95.94M | 182.22M |
| Net Income | 16.19M | 1.36M | -25.91M | -36.67M | -40.47M | 21.21M |
Balance Sheet | ||||||
| Total Assets | 101.99M | 107.87M | 93.17M | 100.86M | 130.05M | 166.16M |
| Cash, Cash Equivalents and Short-Term Investments | 18.05M | 22.43M | 3.46M | 21.41M | 65.43M | 92.49M |
| Total Debt | 74.48M | 81.63M | 115.70M | 90.34M | 106.52M | 104.60M |
| Total Liabilities | 110.12M | 145.95M | 139.97M | 128.85M | 132.12M | 125.36M |
| Stockholders Equity | -36.03M | -38.08M | -46.79M | -27.99M | -2.07M | 40.80M |
Cash Flow | ||||||
| Free Cash Flow | -3.15M | -11.97M | -32.62M | -18.39M | -22.35M | 730.00K |
| Operating Cash Flow | -2.60M | -11.93M | -32.57M | -17.41M | -20.85M | 2.17M |
| Investing Cash Flow | -1.20M | -1.10M | -1.30M | -974.00K | -1.50M | -1.44M |
| Financing Cash Flow | 18.90M | 19.97M | 21.61M | -22.64M | -4.24M | 26.10M |
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 |
|---|---|---|---|---|---|---|---|
64 Neutral | $33.59M | 57.58 | 6.09% | ― | 13.23% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
50 Neutral | $33.66M | 0.03 | 1737.75% | ― | 350.30% | ― | |
47 Neutral | $30.58M | 5.04 | -39.38% | ― | 17.62% | ― | |
42 Neutral | $16.64M | -0.02 | -22.71% | ― | -33.33% | -1032.57% |
* Technology Sector Average
KPLT
Katapult Holdings
6.46
-6.47
-50.04%
SOS
SOS
0.80
-1.64
-67.21%
JG
Aurora Mobile
4.78
-4.08
-46.05%
XBP
XBP Europe Holdings
3.00
-3.19
-51.53%
Katapult Holdings Corporate Events
Business Operations and StrategyM&A TransactionsShareholder Meetings
Katapult Shareholders Approve Stock Issuance for Mergers
Positive
Aug 6, 2026
At a special meeting of stockholders held on August 6, 2026, Katapult Holdings’ shareholders approved the issuance of common stock tied to its planned mergers with CCF Holdings LLC and Aaron’s Intermediate Holdco, Inc., effectively end...
Legal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Katapult Holdings expands disclosures amid merger-related lawsuits
Negative
Jul 27, 2026
Katapult Holdings detailed the complex merger structure agreed in December 2025 and amended in June 2026 to combine its business with Aaron’s Intermediate Holdco and CCF Holdings, including exchanges of management incentive plan interests an...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Katapult Expands Board and Tightens Governance Provisions
Neutral
Jun 18, 2026
On June 17, 2026, Katapult Holdings, Inc. amended its December 11, 2025 merger agreement with subsidiaries, CCF Holdings LLC and Aaron’s Intermediate Holdco, Inc. The amendment expands the planned Katapult board from nine to ten directors an...
Business Operations and StrategyLegal Proceedings
Katapult Settles Patent Dispute, Secures Global License
Positive
Jun 8, 2026
On June 5, 2026, Katapult Holdings, Inc. reached a settlement in a patent infringement lawsuit brought by Flexshopper, Inc. in the U.S. District Court for the Eastern District of Texas, originally filed on September 30, 2024. The case involved sev...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Katapult Amends Loan Agreement, Adjusts Borrowing Capacity
Neutral
Jun 3, 2026
On June 2, 2026, Katapult Holdings entered into a Third Amendment and Limited Waiver to its Amended and Restated Loan and Security Agreement with Midtown Madison Management LLC and other lenders, covering Katapult SPV-1 LLC, Katapult Group, Inc. a...
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.