The following is a summary of the Katapult Holdings (KPLT) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Katapult Holdings reported a 16.1% revenue growth in Q4, with revenue reaching $56.7 million, outdoing the projected 13-15% growth.

• The company maintained five quarters of growing gross originations with an increase of 13% in Q4, tallying up to $67.5 million.

• There was a significant year-over-year improvement in adjusted EBITDA to $4.9 million.

• Full-year 2023 saw a 5% growth in revenue and a reduction in adjusted EBITDA loss to $1.9 million.

• Impressive Q4 growth was attributed to existing merchants and the early inclusion of Walmart into Katapult Pay.

Business Progress:

• The company demonstrated progress in diversifying its gross originations with 48% non-Wayfair gross originations in 2023.

• A forecast of at least 10% growth of gross originations is laid for the future, heavily reliant on direct merchant integrations and the usage of Katapult Pay.

• Strategic partnerships in the prime credit space position Katapult for further growth.

• The approval of over 600,000 new leases in 2023 resulting in a 23% increase in lease originations.

• Expansion of merchant base like Lenovo, Grown Brilliance, Med Mart, and Xotic PC and the increment of Katapult's customer base from 125,000 to 500,000.

• Goals for 2024 include maintaining high customer retention rates, growing the merchant base and utilizing technology for business progression.

• The company showed strong competition, reporting top-line growth against a decline in competitors.

More details: Katapult IR

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