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Katapult Holdings
(NASDAQ:KPLT)
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Rating:47Neutral
Price Target:
$5.00
▼(-14.09% Downside)
Action:Reiterated
Date:09/26/26
The score is held back primarily by weak financial quality (negative equity and negative operating/free cash flow despite improved reported profitability) and a clear bearish technical trend (price below all key moving averages). Valuation is a partial offset due to the very low P/E, while recent corporate events are mixed—transformative merger and some liquidity support, but with added complexity, execution risk, and legal/disclosure overhang.
Positive Factors
Revenue rebound and renewed profitability
The sharp TTM revenue rebound and return to positive net income indicate improving customer and transaction activity. If sustained, this recovery can rebuild operating scale, support reinvestment, and strengthen the platform’s ability to serve nonprime consumers and merchant partners.
Negative Factors
Negative stockholders’ equity
A persistent equity deficit leaves Katapult with limited capitalization flexibility and makes existing leverage more consequential. It can constrain strategic investment, increase sensitivity to operating setbacks, and leave the company more dependent on lenders or other external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound and renewed profitability
The sharp TTM revenue rebound and return to positive net income indicate improving customer and transaction activity. If sustained, this recovery can rebuild operating scale, support reinvestment, and strengthen the platform’s ability to serve nonprime consumers and merchant partners.
Read all positive factors
Katapult Holdings (KPLT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$427.64M
Dividend YieldN/A
Average Volume (3M)191.60K
Price to Earnings (P/E)3.4
Beta (1Y)0.69
Revenue Growth12.96%
EPS GrowthN/A
CountryUS
Employees87
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)1.49
Shares Outstanding84,849,050
10 Day Avg. Volume367,179
30 Day Avg. Volume191,602
Financial Highlights & Ratios
PEG Ratio0.55
Price to Book (P/B)-0.81
Price to Sales (P/S)0.11
P/FCF Ratio-2.56
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-2.4
Revenue Forecast (FY)$327.65M
Katapult Holdings Business Overview & Revenue Model
Company Description
Katapult Holdings, Inc. is a financial technology company specializing in e-commerce. It offers lease-to-own financing solutions directly at the online point of sale, catering specifically to nonprime consumers across the United States. Leveraging...
How the Company Makes Money
Katapult makes money primarily by facilitating and servicing lease-to-own transactions between consumers and participating merchants. Under its model, a consumer selects goods from a merchant and applies through Katapult’s platform; if approved, t...
Katapult Holdings Earnings Call Summary
Earnings Call Date:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Nov 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
54
Neutral
Balance Sheet
28
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 301.71M | 291.76M | 247.19M | 221.59M | 209.50M | 303.11M |
| Gross Profit | 55.79M | 51.60M | 45.77M | 41.71M | 37.41M | 88.99M |
| EBITDA | 252.53M | 215.38M | 161.48M | 137.12M | 95.94M | 182.22M |
| Net Income | 16.19M | 1.36M | -25.91M | -36.67M | -40.47M | 21.21M |
Balance Sheet | ||||||
| Total Assets | 101.99M | 107.87M | 93.17M | 100.86M | 130.05M | 166.16M |
| Cash, Cash Equivalents and Short-Term Investments | 18.05M | 22.43M | 3.46M | 21.41M | 65.43M | 92.49M |
| Total Debt | 74.48M | 81.63M | 115.70M | 90.34M | 106.52M | 104.60M |
| Total Liabilities | 110.12M | 145.95M | 139.97M | 128.85M | 132.12M | 125.36M |
| Stockholders Equity | -36.03M | -38.08M | -46.79M | -27.99M | -2.07M | 40.80M |
Cash Flow | ||||||
| Free Cash Flow | -3.52M | -11.97M | -32.62M | -18.39M | -22.35M | 730.00K |
| Operating Cash Flow | -2.60M | -11.93M | -32.57M | -17.41M | -20.85M | 2.17M |
| Investing Cash Flow | -1.20M | -1.10M | -1.30M | -974.00K | -1.50M | -1.44M |
| Financing Cash Flow | 18.90M | 19.97M | 21.61M | -22.64M | -4.24M | 26.10M |
Katapult Holdings Technical Analysis
Negative
5.82
Price Trends
7.07
Negative
6.83
Negative
6.78
Negative
Market Momentum
<0.01
Positive
30.61
Neutral
1.75
Positive
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 5.82 is below the 20-day moving average (MA) of 7.80, below the 50-day MA of 7.07, and below the 200-day MA of 6.78, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 30.61 is Neutral, neither overbought nor oversold. The STOCH value of 1.75 is Positive, 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $40.73M | 46.44 | 9.31% | ― | 14.88% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $39.56M | 0.04 | 1328.38% | ― | 441.85% | ― | |
47 Neutral | $427.64M | 3.38 | -39.38% | ― | 12.96% | ― | |
44 Neutral | $6.61M | >-0.01 | -22.71% | ― | -33.33% | -1032.57% |
* Technology Sector Average
KPLT
Katapult Holdings
5.04
-9.55
-65.46%
SOS
SOS
0.36
-1.66
-82.28%
JG
Aurora Mobile
6.79
-1.74
-20.40%
XBP
XBP Europe Holdings
3.33
-4.72
-58.63%
Katapult Holdings Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Katapult Extends Revolving Credit Draw Period for Liquidity
Positive
Aug 28, 2026
On August 28, 2026, Katapult Holdings’ wholly owned subsidiary CCF OpCo LLC amended its existing Second Amended and Restated Revolving Credit Agreement with a group of lenders and The Huntington National Bank as administrative agent. The Six...
Business Operations and StrategyExecutive/Board ChangesM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Katapult Holdings Completes Transformative All-Stock Merger Transaction
Positive
Aug 11, 2026
On August 11, 2026, Katapult Holdings completed an all-stock business combination with The Aaron’s Company and CCF Holdings, creating a scaled financial solutions platform for nonprime consumers that will retain the Aaron’s, CCFI and K...
Business Operations and StrategyM&A TransactionsShareholder Meetings
Katapult Shareholders Approve Stock Issuance for Mergers
Positive
Aug 6, 2026
At a special meeting of stockholders held on August 6, 2026, Katapult Holdings’ shareholders approved the issuance of common stock tied to its planned mergers with CCF Holdings LLC and Aaron’s Intermediate Holdco, Inc., effectively end...
Legal ProceedingsM&A TransactionsRegulatory Filings and ComplianceShareholder Meetings
Katapult Holdings expands disclosures amid merger-related lawsuits
Negative
Jul 27, 2026
Katapult Holdings detailed the complex merger structure agreed in December 2025 and amended in June 2026 to combine its business with Aaron’s Intermediate Holdco and CCF Holdings, including exchanges of management incentive plan interests an...
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.