Katapult Announces Double-Digit Preliminary Gross Originations and Revenue Growth for Fourth Quarter 2023

Gross Originations Increase 13% and Revenue Increases ~19% Year-Over-Year
Results Exceed Company Outlook

PLANO, Texas, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Katapult Holdings, Inc. (NASDAQ: KPLT), an e-commerce-focused financial technology company, today announced preliminary gross originations and revenue for the fourth quarter ended December 31, 2023.

Based on preliminary unaudited results, Katapult expects to report gross originations of approximately $67.5 million for the fourth quarter, an increase of 13.0% year-over-year and above the 3-5% growth outlook the company provided on November 8, 2023. This is expected to be the fifth consecutive quarter of year-over-year gross originations growth and the second highest level of gross originations volume in the company’s history. Katapult also expects to report approximately $58.0 million in revenue for the fourth quarter, an increase of 18.7% year-over-year, which exceeds the 13-15% growth outlook the company provided on November 8, 2023. Fourth quarter revenue is expected to be the highest since the first quarter of 2022.

“We ended 2023 on a high note, with gross originations and revenue well above our previous outlook,” said Orlando Zayas, CEO of Katapult. “Heading into the fourth quarter, we were cautious about our outlook given the uncertain macroeconomic backdrop consumers were facing and the impact this could have on the holiday shopping season. Despite these potential headwinds, we delivered strong double-digit preliminary gross originations and revenue growth, driven by the power of our direct merchant integrations and Katapult Pay. Specific to Katapult Pay, we also successfully launched a new major retailer earlier than expected, which contributed to strong performance during the quarter. We are excited about the year ahead and look forward to discussing our full financial results in early March.”

Katapult’s financial close procedures for the quarter and year ended December 2023 are not yet complete. This release includes preliminary financial results for gross originations and revenue for the quarter ended December 31, 2023 that are based on information available at this time. These preliminary financial results have also not been audited or reviewed by Katapult’s independent registered public accounting firm. Katapult intends to report its finalized financial results for the fourth quarter and fiscal year ended December 31, 2023 in early March 2024. Until that time, the preliminary gross originations and revenue results described in this press release are estimates only and are subject to revisions that could differ materially.