The following is a summary of the Katapult Holdings, Inc. (KPLT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Katapult's Q1 gross originations grew by 1.6%, and revenue increased by 18.1% to $65.1 million.

• Gross profit reached approximately $16.5 million, a near 39% increase, while the gross margin was 25%.

• Operating expenses decreased by 18.5% due to lower fixed cash operating expenses.

• Write-offs improved to 8.4% of revenue, a 40 basis point improvement on Q1 2023.

• Adjusted EBITDA for Q1 was $5.6 million, a $6.6 million increase YoY.

Business Progress:

• Katapult grew its customer base by 15% YoY and generated nearly $15 million of gross originations via Katapult Pay, making up a quarter of total originations.

• The company upgraded its platform for better Shopify integration and entered a partnership with Salesforce to accelerate integration with enterprise merchants.

• Katapult furthered its relationship with Synchrony for Lease-to-Own (LTO) solution integration and is launching a risk-based pricing model to increase conversions.

• The company resolved an overfunding issue, lowered debt levels, and anticipates an annual gross margin range of 18%-20% without charging late fees or penalties.

• Katapult aims for 3%-5% Q2 gross origination growth, an 8%-10% revenue growth range, and improved YoY adjusted EBITDA.

More details: Katapult IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.