PLANO, Texas — Katapult Holdings, an e-commerce-focused financial technology company, released its fourth quarter earnings for the period ended Dec. 31, 2024, calling it “a great fourth quarter.”
“We had a great fourth quarter, which included stronger-than-expected gross originations growth and 50% growth in application volume,” said Orlando Zayas, CEO of Katapult.
Zayas noted the importance of the holiday season and said the Katapult marketplace saw “more than 100% year-over-year gross originations growth during the Cyber 5 period in 2024,” driven by initiatives including targeted and co-branded marketing campaigns and the launch of new app features.
For the fourth quarter, Katapult reported total revenue of $63 million, up 9.4% over the year-ago period. Total operating expenses dropped 37.4%, bring the company to a net loss of $9.6 million, which was an improvement from the prior year’s $14.6 million net loss.
Katapult ended the quarter with total cash and cash equivalents of $16.6 million and had $82.8 million of outstanding debt.
For the year, total revenue was up 11.6% to $247 million. Total operating expenses declined 11%, and the net loss for the year was $26 million, compared with a net loss of $37 million for 2023.
For the first quarter of 2025, the company noted a challenging macro environment, particularly within the home furnishings category. Katapult expects an 11% year-over-year increase in gross originations, a 10% year-over-year increase in revenue and about $3 million of positive adjusted EBITDA.
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