Business
Katapult Delivers 10% Year-Over-Year Revenue Growth In Third Quarter 2023
Fourth Consecutive Quarter of Year-Over-Year Gross Originations Growth Fourth Quarter Outlook Includes Continued Year-Over-Year Growth for Gross Originations,
About this update from Katapult Holdings, Inc.
[{"type":"text","content":"Fourth Consecutive Quarter of Year-Over-Year Gross Originations Growth Fourth Quarter Outlook Includes Continued Year-Over-Year Growth for Gross Originations, Revenue and Adjusted EBITDA PLANO, Texas, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Katapult Holdings, Inc. (“Katapult” or the “Company”) (NASDAQ: KPLT), an e-commerce-focused financial technology company, today reported its financial results for the third quarter ended September 30, 2023. “We delivered another quarter of strong operating and financial performance, including double-digit revenue growth and positive Adjusted EBITDA,” said Orlando Zayas, CEO of Katapult. “In addition, despite macroeconomic headwinds we were able to deliver our fourth consecutive quarter of gross originations growth, and we believe this sets us apart from the rest of the competitive lease-to-own landscape. We believe that the core of our success is our relentless focus on providing our customers with the best experience and product and being a collaborative growth partner to our merchants. We have continued to bring on new direct merchant partners and test new customized offerings for existing merchants to drive growth. We also continued to expand our touchpoints with our customers through a variety of initiatives including new marketing campaigns and Katapult Pay enhancements. We believe that our value propositions for both customers and merchants are resonating and that we are well positioned for continued growth in the fourth quarter, including the holiday season.” Operating Progress: Recent Highlights Announced and launched direct integration Casper - innovative leader in sleep products Continued to build momentum for Katapult Pay The retailer Target is now available in the app featureGross originations starting in the Katapult app have grown steadily since launchKatapult Pay has expanded the lifetime value of repeat customers who use the feature to originate a lease Established new relationships focused on monetizing the Katapult platform New relationship with Synchrony Financial~40 affiliate programs now live Expanded strategy to grow consumer base Launched partnership with Western UnionTested and launched email, in-app and SMS marketing campaigns Customer satisfaction remained high and Katapult had a Net Promoter Score of 58 as of September 30, 2023 Third Quarter 2023 Financial Highlights (All...