Katapult Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:54 pm IST
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Katapult Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 53.87 million compared to USD 51.91 million a year ago. Revenue was USD 54.57 million compared to USD 53.04 million a year ago. Net loss was USD 6.41 million compared to USD 10.34 million a year ago. Basic loss per share from continuing operations was USD 1.57 compared to USD 2.64 a year ago.
For the six months, sales was USD 108.6 million compared to USD 110.82 million a year ago. Revenue was USD 110.25 million compared to USD 112.92 million a year ago. Net loss was USD 15.52 million compared to USD 16.38 million a year ago. Basic loss per share from continuing operations was USD 3.86 compared to USD 4.18 a year ago.
Katapult Holdings, Inc. is an e-commerce focused financial technology company. It offers e-commerce point-of-sale (POS) lease-purchase options for non-prime United States consumers. Its fully digital technology platform provides non-prime consumers with a flexible lease-purchase option to enable them to obtain durable goods from Companyâs network of e-commerce retailers. It primarily operates within the virtual lease-to-own (LTO) market. Its LTO platform offers customers an alternative to traditional financing of automotive goods, computers, electronics, home furnishings and other durable goods. It has launched Katapult Cartridge for business-to-consumer commerce, an omnichannel solution, which is integrated directly with Salesforce and available on AppExchange for consumers who donât have access to traditional financing or credit. Its platform can be integrated regardless of integration method: platform plug-in, developer documentation, and direct application programming interface.