Katapult Holdings, Inc.

Katapult Holdings, Inc. (Nasdaq: KTPL) operates a technology-driven lease-to-own platform that integrates with omnichannel retailers and e-commerce platforms to serve underserved, nonprime consumers seeking to purchase everyday durable goods. The company was founded in 2012 and incorporated in Delaware, operating exclusively in the United States across 46 states and the District of Columbia. Its website is www.katapult.com.

The company's core business centers on providing flexible lease-purchase agreements for durable goods including home furnishings, automotive goods, computers, electronics, and appliances. Katapult's platform differentiates itself through a streamlined three-step application process with fully automated approval decisions rendered in approximately five seconds or less on average. The company does not charge late fees or increase cash prices on leased items, emphasizing fairness and transparency in its customer interactions. Customers benefit from flexible payment terms, the ability to terminate leases without penalty, and optional early purchase options.

Katapult operates through a single reportable segment and generates revenue primarily from recurring payment streams related to contracted lease payments with consumers. The company offers four customer acquisition channels: direct integration with merchant point-of-sale systems, waterfall financing platform partnerships, a mobile app featuring KPay virtual card technology, and text-to-checkout in-store solutions. As of December 31, 2025, Katapult had integrated its leasing solution with more than 250 merchants and offered customers access to approximately 40 merchants through its marketplace powered by KPay technology.

The company's largest merchant partner is Wayfair, which represented 25 percent of gross originations in 2025. The top ten merchants collectively accounted for approximately 76 percent of total gross originations. Katapult's proprietary technology platform utilizes cloud-native architecture hosted on AWS with machine learning models and real-time decision engines to assess fraud risk and default propensity.

As of December 31, 2025, Katapult employed 87 people in the United States and operates as a remote-first company. The company estimates it currently captures less than one percent market share within the virtual lease-to-own market, which represents a total addressable market opportunity of fifty to sixty billion dollars. In December 2025, Katapult entered into a definitive merger agreement with CCFI and Aaron's, expected to close during the second quarter of 2026.