Katapult Holdings, Inc. reported a significant turnaround in its financial performance for the fiscal year ending December 31, 2025, achieving a net income of $1.4 million compared to a net loss of $25.9 million in 2024. Total revenue increased by 18% to $291.8 million, driven by a 17.3% rise in gross originations, which reached $278.5 million. The company attributed this growth to improved customer collections and the successful integration of its mobile app, Katapult Pay (KPay), which accounted for 42% of gross originations in 2025, up from 32% in the previous year.
In terms of operational metrics, Katapult's customer engagement improved, with a net promoter score (NPS) of 46 and a repeat purchase rate of 64% as of December 31, 2025. The company also reported a total of 87 employees as of the end of the fiscal year. However, the company remains cautious about its future, as it faces substantial debt obligations. As of December 31, 2025, Katapult had $78.7 million in outstanding principal under its New Revolving Facility, which matures in December 2026. The company has expressed concerns about its ability to meet these obligations without refinancing or extending its credit facility.
Strategically, Katapult is pursuing a merger with CCF Holdings LLC and Aaron’s Intermediate Holdco, Inc., which is expected to close in the second quarter of 2026, pending regulatory and stockholder approvals. This merger aims to enhance Katapult's scale and omni-channel capabilities, allowing it to better serve non-prime consumers seeking access to durable goods. The merger is anticipated to significantly alter the company's capital structure, with existing Katapult stockholders expected to hold approximately 6% of the combined entity.
Despite the positive financial results, Katapult's management has highlighted ongoing risks, including potential regulatory changes and the impact of economic conditions on consumer spending. The company has also noted that it has not yet received the necessary stockholder approval for its preferred stock issuance, which could further complicate its financial situation. Looking ahead, Katapult aims to continue leveraging its technology-driven platform to capture a larger share of the estimated $50-$60 billion lease-to-own market in the U.S., where it currently holds less than 1% market share.
About Katapult Holdings, Inc.
Katapult Holdings, Inc. operates a technology-driven lease-to-own platform serving underserved nonprime consumers in the U.S. by enabling flexible, transparent purchase options for durable goods through omnichannel retail and e-commerce partnerships. Its proprietary platform offers quick approvals, fair terms, and no late fees, targeting retail merchants and consumers with alternative financing solutions that promote inclusion and customer loyalty.
About 10-K Filings
A 10-K form is a comprehensive annual report that public companies in the United States must file with the SEC, providing a detailed overview of the company's financial condition, performance, and business strategies.
Key points about the 10-K:
- Frequency: Filed annually, typically within 60 to 90 days after the end of the company's fiscal year.
-
Content: It includes:
- Detailed financial statements audited by an independent accounting firm
- Management's Discussion and Analysis (MD&A) of financial condition and results
- Description of the company's business, properties, and legal proceedings
- Risk factors and market risks
- Executive compensation and corporate governance information
- Importance: Considered the most comprehensive and important document a public company files with the SEC.
- Length: Often exceeds 100 pages due to its extensive and detailed nature.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.