Katapult Holdings Inc (NAS:KPLTW)

$ 0.0054 -0.0031 (-36.47%) Market Cap: - Enterprise Value: - PE Ratio: 9,999.00 PB Ratio: 0 GF Score: 49/100

Q3 2024 Katapult Holdings Inc Earnings Call Transcript

Nov 06, 2024 / 01:00PM GMT

Transcript 10-Q8-K

Key Points

Positve

Katapult Holdings Inc (KPLT) achieved its eighth consecutive quarter of gross originations growth.
The company reported a 37% year-over-year growth in gross originations excluding Wayfair.
Katapult Pay (K Pay) grew 86.1% in Q3, representing 31% of the total gross originations.
The automotive category grew more than 25% in Q3, becoming a key category for the company.
The company maintained a strong customer repeat purchase rate of 60.3% and a net promoter score of 61%.

Negative

Wayfair application flow was down significantly, impacting overall gross originations growth.
The home furnishings category fell short of expectations, affecting the company's performance.
Total operating expenses grew by 38% during the quarter, primarily due to litigation settlement costs.
The company faced a patent infringement lawsuit, which they intend to defend vigorously.
Despite growth, the company reported a loss from operations of $1.1 million in Q3 2024.

Operator

Hello, everyone. Thank you for standing by and welcome to the Katapult Holdings third quarter, 2024 earnings conference call. (Operator Instruction) I would now like to turn the conference over to your first speaker for today, Jennifer Kull, Vice President and Head of Investor Relations. You may now begin.

Jennifer Kull

Katapult Holdings Inc - Vice President and Head of Investor Relations

Welcome to Katapult's third quarter, 2024. Conference call on the call with me today are Orlando Zayas, Chief Executive Officer, Nancy Walsh, Chief Financial Officer, and Derek Medlin, President and Chief Growth Officer. For your reference. We have posted materials for today's call on the investor relations section of the Katapult website, which can be found at IR. Katapult holdings.com.

Please keep in mind that our remarks today include forward-looking statements related to our financial guidance, our business and our operating results as noted in the earnings release and slide deck posted to our website for your reference.

Our actual results may differ

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