$KPLT

Katapult Holdings, Inc.

CIK:0001785424|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue
Rental revenue	$ 73,512	$ 70,716	$ 150,934	$ 141,794
Other revenue	1,249	1,170	2,848	2,038
Total revenue	74,761	71,886	153,782	143,832
Cost of revenue	63,253	60,718	124,075	118,315
Gross profit	11,508	11,168	29,707	25,517
Operating expenses	13,437	12,578	27,301	27,463
Income (loss) from operations	(1,929)	(1,410)	2,406	(1,946)
Loss on extinguishment of term loan	0	(1,040)	0	(1,040)
Interest expense and other fees	(3,173)	(5,361)	(6,312)	(10,505)
Interest income	157	26	287	83
Change in fair value of derivative liability and warrants	630	11	4,946	(25)
Income (loss) before income taxes	(4,315)	(7,774)	1,327	(13,433)
Provision for income taxes	(73)	(61)	(29)	(90)
Net income (loss)	(4,388)	(7,835)	1,298	(13,523)
Net loss attributable to common stockholders	$ (7,717)	$ (7,835)	$ (5,062)	$ (13,523)
Weighted average common shares outstanding - basic (in shares)	5,491,000	4,813,000	5,473,000	4,716,000
Weighted average common shares outstanding - diluted (in shares)	5,491,000	4,813,000	5,473,000	4,716,000
Net loss per common share attributable to common stockholders - basic (in dollars per share)	$ (1.41)	$ (1.63)	$ (0.92)	$ (2.87)
Net loss per common share attributable to common stockholders - diluted (in dollars per share)	$ (1.41)	$ (1.63)	$ (0.92)	$ (2.87)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 1,298	$ (13,523)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	82,685	81,180
Depreciation for early lease purchase options (buyouts)	21,577	19,010
Depreciation for impaired leases	14,720	13,932
Change in fair value of derivative liability, warrants, and other	(4,982)	25
Stock-based compensation	858	1,930
Loss on extinguishment of term loan	0	1,040
Amortization of debt discount	0	1,873
Amortization of debt issuance costs, net	2,060	361
Accrued PIK interest expense	0	1,172
Amortization of right-of-use assets	23	161
Changes in operating assets and liabilities:
Property held for lease	(114,078)	(115,784)
Prepaid expenses and other current assets	871	2,947
Accounts payable	2,634	1,036
Accrued liabilities	(2,613)	1,485
Accrued litigation	500	(500)
Lease liabilities	(25)	(159)
Unearned revenues	605	618
Net cash provided by (used in) operating activities	6,133	(3,196)
Cash flows from investing activities:
Purchases of property and equipment	(24)	(24)
Additions to capitalized software	(730)	(636)
Net cash used in investing activities	(754)	(660)
Cash flows from financing activities:
Proceeds from New and Existing Revolving Facilities	8,844	10,013
Principal repayments on New and Existing Revolving Facilities	(13,506)	(12,154)
Payments of deferred financing costs	(1)	(1,204)
Repurchases of restricted stock	(108)	(361)
Net cash used in financing activities	(4,771)	(3,706)
Net increase (decrease) in cash, cash equivalents and restricted cash	608	(7,562)
Cash, cash equivalents and restricted cash at beginning of period	23,480	16,552
Cash, cash equivalents and restricted cash at end of period	24,088	8,990
Supplemental disclosure of cash flow information:
Cash paid for interest	3,890	7,066
Cash paid for income taxes	547	48
Cash paid for operating leases	54	112
Supplemental disclosure of non-cash investing and financing activities
Issuance of warrants to purchase common stock in connection with debt refinancing	0	3,934
Issuance of common stock for litigation settlement	0	752
Issuance of New Term Loan derivative liability in connection with debt refinancing	0	3,558
Debt issuance costs accrued but not yet paid	75	3,103
Extinguishment of Existing Term Loan	0	32,654
Acquisition of intangible asset through accrued liabilities	$ 0	$ 509

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 18,046	$ 22,432
Restricted cash	6,042	1,048
Property held for lease, net of accumulated depreciation and impairment (Note 3)	69,423	73,691
Prepaid expenses and other current assets	3,427	4,257
Deferred financing costs, net	1,818	3,802
Total current assets	98,756	105,230
Property and equipment, net	136	163
Capitalized software and intangible assets, net	2,773	2,119
Right-of-use assets, non-current	312	339
Security deposits	15	15
Total assets	101,992	107,866
Current liabilities:
Accounts payable	4,525	1,891
Accrued liabilities (Note 4)	15,672	17,701
Accrued litigation settlement (Note 10)	1,250	750
Unearned revenue	5,488	4,883
Revolving line of credit, net (Note 5)	74,065	78,727
Derivative liability (Note 11)	8,700	13,600
Lease liabilities	56	51
Total current liabilities	109,756	117,603
Lease liabilities, non-current	362	392
Other liabilities	0	45
Total liabilities	110,118	118,040
MEZZANINE EQUITY
Total mezzanine equity	27,909	27,909
STOCKHOLDERS' DEFICIT
Common stock, $.0001 par value; 250,000,000 shares authorized; 4,792,405 and 4,750,258 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	0	0
Additional paid-in capital	109,753	109,003
Accumulated deficit	(145,788)	(147,086)
Total stockholders' deficit	(36,035)	(38,083)
Total liabilities, mezzanine equity and stockholders' deficit	101,992	107,866
Series A Convertible Preferred Stock
MEZZANINE EQUITY
Total mezzanine equity	11,308	11,308
Series B Convertible Preferred Stock
MEZZANINE EQUITY
Total mezzanine equity	$ 16,601	$ 16,601