Katapult Holdings, Inc. (KPLT) AI Stock Analysis

Katapult Holdings, Inc. operates as a financial technology company specializing in e-commerce, offering lease-purchase options tailored for nonprime consumers across the United States. Its technology platform facilitates transactions and approval processes, enabling consumers without access to traditional credit to acquire durable goods such as electronics, furniture, and appliances from a network of e-commerce retailers. Originally founded as Cognical Holdings, Inc. and rebranded in February 2020, the Plano, Texas-based company partners with merchants to expand access to essential products through flexible lease-purchase payment plans designed to match consumer financial circumstances.

Annual revenue grew from $209.5M in FY2022 to $221.6M in FY2023, $247.2M in FY2024, and $291.8M in FY2025, yielding a 5-year revenue CAGR of 3.4%. Gross margin stood at 17.7% in FY2025, down slightly from 18.5% in FY2024 and 29.4% in FY2021. The company returned to positive net income of $1.4M in FY2025 after net losses of -$25.9M in FY2024 and -$36.7M in FY2023. Operating margin reached 0.1% in FY2025. Over the trailing twelve months, revenue totaled $1.73B with an operating margin of 18.9%, though the quarter ended June 30, 2026, saw revenue fall 4.9% and earnings drop 18.4% year-over-year.

As of June 30, 2026, Katapult held $18.0M in cash and short-term investments against total debt of $74.5M, resulting in net debt of $56.4M. The company reported negative shareholders' equity of -$36.0M and total assets of $102.0M, with a current ratio of 0.90. Cash flow from operations was -$11.9M in FY2025, alongside free cash flow of -$12.0M. During FY2025, capital expenditures were $34,000, while share buybacks totaled $594,000.

KPLT trades at a trailing P/E of 3.6x, well below the 28.1x median of its US-listed Technology peers. Its enterprise value to EBITDA ratio is 2.9x, compared to the peer median of 16.6x, while its price-to-sales ratio is 0.3x versus the peer median of 2.8x. However, its price-to-book multiple is elevated at 19.7x due to negative shareholders' equity. Over the past year, KPLT shares fell 43.8%, underperforming the SPY return of 16.8%, and the stock is down 94.7% over 5 years compared to an 83.0% gain for SPY.

Wall Street analysts have a mean price target of $6.75 on KPLT, representing 5.1% upside over the last close of $6.42. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $327.4M and an EPS of -$2.40. For the following fiscal year, 1 analyst estimates revenue of $368.9M and an EPS of -$1.48, representing 12.7% top-line growth. Katapult has beaten EPS estimates in 3 of the last 4 quarters, and its next earnings date is November 11, 2026.

This page is an AI-written research summary of Katapult Holdings, Inc. (KPLT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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