Katapult Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 05:51 pm IST
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Katapult Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 54.48 million compared to USD 49.26 million a year ago. Revenue was USD 55.25 million compared to USD 50.34 million a year ago. Net loss was USD 2.91 million compared to USD 9.21 million a year ago. Basic loss per share from continuing operations was USD 0.71 compared to USD 2.34 a year ago.
For the nine months, sales was USD 163.08 million compared to USD 160.08 million a year ago. Revenue was USD 165.5 million compared to USD 163.26 million a year ago. Net loss was USD 18.44 million compared to USD 25.59 million a year ago. Basic loss per share from continuing operations was USD 4.54 compared to USD 6.52 a year ago.
Katapult Holdings, Inc. is a technology driven lease-to-own (LTO) platform that integrates with omni-channel retailers and e-commerce platforms to power the purchasing of everyday durable goods for underserved United States non-prime consumers. The Company primarily operates within the virtual LTO market. Its LTO platform offers customers an alternative to traditional financing of automotive goods, computers, electronics, home furnishings and other durable goods. By using its integrated LTO solution or Katapult Pay (its virtual card technology), customers who may be unable to access traditional financing can use its product to shop directly with more than 200 merchant partners. Customers can also choose to shop directly with different merchants in the Katapult marketplace within its mobile app. The Company's platform can be integrated regardless of integration method: platform plug-in, developer documentation, direct application programming interface and waterfall partnerships.