Business
Katapult Grows Fourth Quarter Gross Originations by 13% Year-Over-Year; Second Highest Gross Originations Volume in Company History
Fifth Consecutive Quarter of Year-Over-Year Gross Originations Growth; Non-Wayfair Gross Originations Grow ~30% in Q4Revenue Grows ~16% Year-Over-Year in
About this update from Katapult Holdings, Inc.
[{"type":"text","content":"Fifth Consecutive Quarter of Year-Over-Year Gross Originations Growth; Non-Wayfair Gross Originations Grow ~30% in Q4Revenue Grows ~16% Year-Over-Year in Q4Full Year 2024 Outlook Includes At Least 10% Gross Originations and Revenue Growth PLANO, Texas, March 14, 2024 (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 fourth quarter ended December 31, 2023. “During the fourth quarter, we extended our track record of growth by delivering double-digit, year-over-year increases in gross originations and revenue. This success was driven by strong execution in all key areas of our business and we’re very proud of our team’s hard work,” said Orlando Zayas, CEO of Katapult. “From new direct integrations with merchant partners such as Lenovo and Grown Brilliance, to expanding Katapult Pay by onboarding retailers like Walmart, consumers can now use a Katapult lease-to-own product to shop for just about any durable good they want. We believe our value proposition - which includes transparent pricing, fair terms and no late fees, ever - stands out from the competition, and consumers seem to agree. During 2023, we grew new customers by about 15% and had a customer repeat rate of approximately 60%, two metrics that illustrate how well our lease-to-own products are resonating with consumers across the US. “Our fourth quarter performance capped off a very strong 2023 for Katapult, and we believe we are well positioned for continued growth in 2024,” continued Zayas. “We grew our business in 2023, during a time in which many of our competitors saw their businesses contract. This distinction gives us confidence that our product is uniquely meeting the needs of consumers and our merchant partners. During 2024 we believe that we can make the customer journey even easier by further enhancing our search experience and merchant selection. We believe that these enhancements coupled with our relentless focus on offering unmatched value to consumers, will allow us to continue to build long-term relationships with customers that will benefit both Katapult and our merchant partners.” Operating Progress: Recent Highlights Launched direct integrations Lenovo - merchant partner that has enhanced its integration and now offers ...