Katapult Holdings (KPLT)
NASDAQ:KPLT
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Katapult Holdings
(NASDAQ:KPLT)
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Rating:49Neutral
Price Target:
$6.00
▼(-14.53% Downside)
Action:Reiterated
Date:05/09/26
The score is weighed down primarily by weak balance-sheet and cash-flow quality (negative equity and ongoing free-cash-flow deficits), plus a technically weak trend with shares below key moving averages. These risks are partly offset by a sharp TTM revenue rebound and a return to profitability, along with an unusually low P/E that suggests the stock is priced for elevated risk.
Positive Factors
Revenue rebound & profitability
Katapult delivered a sharp TTM revenue increase (+242.5%) and returned to positive net income (~4.3% margin). Durable revenue expansion with positive net income indicates improving product-market fit and scale in originations, supporting reinvestment and margin recovery prospects over the next several months.
Negative Factors
Negative equity and high leverage
Negative shareholders' equity and sizable debt versus assets materially weaken the capital cushion. Structurally this raises solvency and refinancing risk, constrains strategic optionality, and makes the business more vulnerable to credit losses or portfolio shocks absent sustained profitably positive cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound & profitability
Katapult delivered a sharp TTM revenue increase (+242.5%) and returned to positive net income (~4.3% margin). Durable revenue expansion with positive net income indicates improving product-market fit and scale in originations, supporting reinvestment and margin recovery prospects over the next several months.
Read all positive factors
Katapult Holdings (KPLT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$28.92M
Dividend YieldN/A
Average Volume (3M)110.33K
Price to Earnings (P/E)2.6
Beta (1Y)0.74
Revenue Growth17.62%
EPS GrowthN/A
CountryUS
Employees94
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)1.27
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 Cap2.72
Enterprise Value/Revenue0.26
Enterprise Value/Gross Profit3.72
Enterprise Value/Ebitda0.44
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-2.4
Revenue Forecast (FY)$328.00M
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 its lease-to-own transactions originated through merchant and platform partners. In a typical transaction, Katapult facilitates approval/underwriting and funds the purchase of the item from the merchant, then...
Katapult Holdings Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 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
58
Neutral
Balance Sheet
18
Very Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 298.84M | 291.76M | 247.19M | 221.59M | 209.50M | 303.11M |
| Gross Profit | 21.12M | -84.24M | 45.77M | 41.71M | 37.41M | 88.99M |
| EBITDA | 178.22M | 186.73M | 161.48M | 137.12M | 95.94M | 182.22M |
| Net Income | 12.74M | 1.36M | -25.91M | -36.67M | -40.47M | 21.21M |
Balance Sheet | ||||||
| Total Assets | 104.00M | 107.87M | 93.17M | 100.86M | 130.05M | 166.16M |
| Cash, Cash Equivalents and Short-Term Investments | 22.35M | 22.43M | 3.46M | 21.41M | 65.43M | 92.49M |
| Total Debt | 72.05M | 79.17M | 113.25M | 90.34M | 106.52M | 101.90M |
| Total Liabilities | 108.02M | 118.04M | 139.97M | 128.85M | 132.12M | 125.36M |
| Stockholders Equity | -31.93M | -10.17M | -46.79M | -27.99M | -2.07M | 40.80M |
Cash Flow | ||||||
| Free Cash Flow | -3.73M | -11.97M | -32.62M | -18.39M | -22.35M | 730.00K |
| Operating Cash Flow | -3.16M | -11.93M | -32.57M | -17.41M | -20.85M | 2.17M |
| Investing Cash Flow | -1.09M | -1.10M | -1.30M | -974.00K | -1.50M | -1.44M |
| Financing Cash Flow | 18.06M | 19.97M | 21.61M | -22.64M | -4.24M | 26.10M |
Katapult Holdings Technical Analysis
Negative
7.02
Price Trends
6.88
Negative
6.71
Negative
9.25
Negative
Market Momentum
-0.22
Positive
37.80
Neutral
40.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KPLT, the sentiment is Negative. The current price of 7.02 is above the 20-day moving average (MA) of 6.51, above the 50-day MA of 6.88, and below the 200-day MA of 9.25, indicating a bearish trend. The MACD of -0.22 indicates Positive momentum. The RSI at 37.80 is Neutral, neither overbought nor oversold. The STOCH value of 40.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
64 Neutral | $35.69M | 60.92 | 0.58% | ― | 13.23% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | $28.92M | 2.60 | -32.97% | ― | 17.62% | ― | |
44 Neutral | $28.83M | 0.03 | 1737.75% | ― | 350.30% | ― | |
43 Neutral | $6.21M | -0.02 | -22.71% | ― | -33.33% | -1032.57% |
* Technology Sector Average
KPLT
Katapult Holdings
6.07
-3.29
-35.15%
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Katapult Holdings Corporate Events
Executive/Board ChangesShareholder Meetings
Katapult Shareholders Endorse Board, Auditor and Executive Pay
Positive
May 5, 2026
Katapult Holdings, Inc. held its 2026 annual meeting of stockholders on April 30, 2026, as a virtual webcast, with approximately 80.51% of outstanding common shares represented, establishing a quorum. Stockholders elected Derek Medlin as a Class I...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Katapult Secures Tenth Waiver to Ease Loan Covenants
Negative
Apr 16, 2026
On April 15, 2026, Katapult Holdings, Inc. and its affiliated credit parties entered into a tenth limited waiver to their Amended and Restated Loan and Security Agreement with Midtown Madison Management LLC and other lenders. The action followed f...
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.