Katapult Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 07:21 am EST
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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 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.