Katapult Provides Update on Fourth Quarter Performance – Gross Originations Grow Double-Digits Year-Over-Year

Core Insights - Katapult Holdings, Inc. reported gross originations of approximately $75.2 million for Q4 2024, marking an 11.3$75.2 million, reflecting an 11.3% increase compared to the same quarter in the previous year [2] - Total lease application volume grew by approximately 50% year-over-year, with new customer lease applications increasing by about 51% and existing customer lease applications also growing by 50% [6] - The repeat customer rate accounted for approximately 61.5% of gross originations in Q4 2024 [6] Strategic Initiatives - The company has transformed its go-to-market strategy since launching its app and KPay in late 2022, aiming for continued growth in both direct-to-merchant and direct-to-consumer channels [2] - Katapult's KPay gross originations grew approximately 52% year-over-year, indicating strong engagement with the platform [6] - The company is optimistic about its future growth prospects and plans to discuss final financial results in early March [2] Company Overview - Katapult is a technology-driven lease-to-own platform that integrates with omnichannel retailers and e-commerce platforms, focusing on underserved U.S. non-prime consumers [3] - The company aims to provide simple, fast, and transparent payment solutions, emphasizing fairness and dignity in its services [3]