Katapult Holdings, Inc.
Business
Katapult Holdings, Inc. is a lease-to-own platform provider that enables nonprime consumers to acquire durable goods through flexible lease-purchase agreements integrated with omnichannel retailers and e-commerce platforms. The company operates across 46 U.S. states and the District of Columbia, offering four customer-acquisition channels: direct merchant point-of-sale integration, waterfall financing partnerships, a proprietary mobile app with KPay virtual-card functionality, and in-store text-to-checkout. Revenue derives from recurring payments on lease contracts.
Summary from 10-K filed 2026-03-11
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Rental revenue | 287 | 244 | 218 | 205 | — | |
| Other revenue | 5 | 3 | 3 | 4 | 319,000 | |
| Total revenue | 292 | 247 | 222 | 209 | 303 | |
| Cost of revenue | 240 | 201 | 180 | 172 | 214 | |
| Gross profit | 52 | 46 | 42 | 37 | 89 | |
| Servicing costs | 5 | 5 | 4 | 4 | 5 | |
| Underwriting fees | 3 | 2 | 2 | 2 | 2 | |
| Professional and consulting fees | 8 | 5 | 7 | 11 | 6 | |
| Technology and data analytics | 6 | 7 | 7 | 9 | 8 | |
| Compensation costs | 18 | 20 | 23 | 25 | 27 | |
| General and administrative | 11 | 11 | 11 | 14 | 11 | |
| Litigation and settlement expenses | 813,000 | 4 | 7 | 375,000 | — | |
| Total operating expenses | 52 | 54 | 60 | 66 | 87 | |
| Loss from operations | −513,000 | −8 | −19 | −28 | 2 | |
| Gain on extinguishment of term loan and settlement of derivative liability, net | 5 | 0 | −2 | 0 | 0 | |
| Interest expense and other fees | −21 | −19 | −18 | — | — | |
| Interest income | 197,000 | 1 | 2 | 744,000 | 0 | |
| Change in fair value of derivative liability and warrants | 17 | 17,000 | 807,000 | 6 | 37 | |
| Income (loss) before income taxes | 2 | −26 | −37 | −41 | 22 | |
| Provision for income taxes | −319,000 | −143,000 | −165,000 | 50,000 | −539,000 | |
| Net income (loss) | 1 | −26 | −37 | −40 | 21 | |
| Accumulated undeclared dividends | −2 | 0 | — | — | — | |
| Net loss attributable to common stockholders | −557,000 | −26 | — | — | — | |
| Weighted average common shares outstanding - basic (in shares) | 5 | 4 | 4 | 4 | 69 | |
| Weighted average common shares outstanding - diluted (in shares) | 5 | 4 | 4 | 4 | 81 | |
| Net loss per common share - basic (in dollars per share) | −0.11 | −5.96 | −8.97 | −10.3 | 0.31 | |
| Net loss per common share - diluted (in dollars per share) | −0.11 | −5.96 | −8.97 | −10.3 | 0.26 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2023 2023-09-30 | FY 2023 2023-06-30 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 22 | 3 | 21 | 32 | 38 | |
| Restricted cash | 1 | 13 | 7 | 7 | 3 | |
| Property held for lease, net of accumulated depreciation and impairment (Note 3) | 74 | 67 | 59 | 52 | 53 | |
| Prepaid expenses and other current assets | 4 | 7 | 4 | 5 | 5 | |
| Deferred financing costs, net | 4 | 0 | — | — | — | |
| Total current assets | 105 | 90 | 98 | 96 | 100 | |
| Property and equipment, net | 163,000 | 253,000 | 327,000 | 427,000 | 471,000 | |
| Security deposits | 15,000 | 91,000 | 91,000 | 91,000 | 91,000 | |
| Capitalized software and intangible assets, net | 2 | 2 | 2 | 2 | 2 | |
| Right-of-use assets, non-current | 339,000 | 383,000 | 888,000 | 498,000 | 574,000 | |
| Total assets | 108 | 93 | 101 | 99 | 103 | |
| Accounts payable | 2 | 1 | 903,000 | 735,000 | 974,000 | |
| Accrued liabilities (Note 5) | 18 | 17 | 24 | 22 | 21 | |
| Accrued litigation settlement (Note 11) | 750,000 | 2 | 12 | — | — | |
| Unearned revenue | 5 | 5 | 5 | 5 | 5 | |
| Revolving line of credit, net (Note 6) | 79 | 83 | 0 | — | — | |
| Term loan, net (Note 6) | 0 | 30 | 0 | — | — | |
| Lease liabilities | 51,000 | 179,000 | 297,000 | 297,000 | 304,000 | |
| Derivative liability (Note 12) | 14 | 0 | — | — | — | |
| Total current liabilities | 118 | 139 | 42 | 28 | 27 | |
| Other liabilities | 45,000 | 828,000 | 95,000 | 131,000 | 513,000 | |
| Lease liabilities, non-current | 392,000 | 444,000 | 614,000 | 218,000 | 296,000 | |
| Total liabilities | 118 | 140 | 129 | 113 | 115 | |
| Total mezzanine equity | 28 | 0 | 0 | — | — | |
| Common stock, $.0001 par value; 250,000,000 shares authorized; 4,750,258 and 4,446,540 shares issued and outstanding at December 31, 2025 and 2024, respectively | 0 | 0 | 0 | 0 | 0 | |
| Additional paid-in capital | 109 | 102 | 95 | 93 | 92 | |
| Accumulated deficit | −147 | −148 | −123 | −108 | −104 | |
| Total stockholders' deficit | −38 | −47 | −28 | −15 | −12 | |
| Total liabilities, mezzanine equity and stockholders' deficit | 108 | 93 | 101 | 99 | 103 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 164 | 141 | 127 | 117 | 144 | |
| Depreciation for early lease purchase options (buyouts) | 38 | 29 | 26 | — | — | |
| Depreciation for impaired leases | 29 | 25 | 22 | — | — | |
| Change in fair value of derivative liability, warrants, and other | −17 | −256,000 | −807,000 | — | — | |
| Stock-based compensation | 4 | 6 | 7 | 6 | 13 | |
| Amortization of debt discount | 3 | 3 | 3 | 5 | 3 | |
| Amortization of debt issuance costs, net | 2 | 220,000 | 277,000 | 361,000 | 357,000 | |
| Accrued PIK interest expense | 3 | 1 | 2 | 2 | 2 | |
| Amortization of right-of-use assets | 183,000 | 318,000 | 355,000 | 367,000 | — | |
| Property held for lease | −236 | −201 | −184 | −151 | −199 | |
| Prepaid expenses and other current assets | 2 | −2 | 4 | −4 | −4 | |
| Litigation insurance reimbursement receivable | 0 | 5 | −5 | 0 | — | |
| Accounts payable | 400,000 | 588,000 | −361,000 | −765,000 | 344,000 | |
| Accrued liabilities | 129,000 | −7 | 4 | 4 | −1 | |
| Accrued litigation | −695,000 | −7 | 12 | 0 | — | |
| Lease liabilities | −180,000 | −288,000 | −387,000 | −413,000 | — | |
| Unearned revenues | 60,000 | −126,000 | 765,000 | −467,000 | −517,000 | |
| Net cash used in operating activities | −12 | −33 | −17 | −21 | 2 | |
| Purchases of property and equipment | −34,000 | −54,000 | −20,000 | −168,000 | −384,000 | |
| Additions to capitalized software | −1 | −1 | −954,000 | −1 | −1 | |
| Other assets and security deposits | 76,000 | 0 | — | — | 0 | |
| Net cash used in investing activities | −1 | −1 | −974,000 | −2 | −1 | |
| Proceeds from New and Existing Revolving Facilities | 22 | 34 | 14 | 19 | 7 | |
| Principal repayments on New and Existing Revolving Facilities | −26 | −12 | −12 | −22 | −20 | |
| Repayment of term loan and repurchase of warrants | −35 | 0 | −25 | 0 | — | |
| Payments of issuance costs related to debt and preferred stock | −5 | 0 | — | — | 0 | |
| Repurchases of restricted stock | −594,000 | −613,000 | −355,000 | −344,000 | 0 | |
| Proceeds from issuance of Convertible Preferred Stock and warrants | 65 | 0 | — | — | — | |
| Proceeds from exercise of stock options | 8,000 | 211,000 | 1,000 | 67,000 | 678,000 | |
| Net cash provided by financing activities | 20 | 22 | −23 | −4 | 26 | |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 7 | −12 | −41 | −27 | 27 | |
| Cash paid for interest | 12 | 14 | 13 | 12 | 12 | |
| Cash paid for income taxes | 106,000 | 226,000 | 206,000 | 446,000 | 416,000 | |
| Cash paid for operating leases | 275,000 | 359,000 | 513,000 | 511,000 | 0 | |
| Issuance of warrants to purchase common stock in connection with debt refinancing | 4 | 0 | 4 | 0 | 0 | |
| Issuance of common stock in connection with litigation settlements | 2 | 2 | 0 | — | — | |
| Issuance of New Term Loan derivative liability in connection with debt refinancing | 4 | 0 | — | — | — | |
| Debt issuance costs accrued but not yet paid | 200,000 | 0 | 481,000 | 0 | — | |
| Extinguishment of Existing Term Loan | 33 | 0 | — | — | — |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Katapult Holdings, Inc.'s CIK number?
Katapult Holdings, Inc.'s SEC CIK number is 0001785424 (1785424). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Katapult Holdings, Inc.'s SEC filings?
All of Katapult Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Katapult Holdings, Inc. last report earnings?
Katapult Holdings, Inc. (KPLT) most recently filed an earnings 8-K with the SEC on May 7, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001628280-26-031645). This is Katapult Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Katapult Holdings, Inc.'s most recent earnings 8-K?
Katapult Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed May 7, 2026 under accession 0001628280-26-031645. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Katapult Holdings, Inc.'s latest earnings 8-K →
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