Katapult(US:KPLT)2025-08-13 11:06Financial Performance - Total revenue for Q2 2025 reached $71.9 million, marking a 22.1% increase compared to the previous year[7]. - Total revenue for Q2 2025 was $71.886 million, a 22% increase from $58.863 million in Q2 2024[37]. - Total revenue for the first half of 2025 was $143.832 million, an increase of 16.1% from $123.924 million in the first half of 2024[46]. - Gross originations for Q2 2025 were $72.1 million, representing a 30.4% increase year-over-year, with a 62% growth excluding the home furnishings and mattress category[7]. - Gross originations for Q2 2025 were $72.1 million, compared to $55.3 million in Q2 2024, marking a 30.4% increase[47]. - KPay gross originations increased approximately 81% year-over-year in Q2 2025, accounting for 39% of total gross originations[3]. - Adjusted EBITDA for Q2 2025 was $0.3 million, an improvement from an Adjusted EBITDA loss of $0.4 million in Q2 2024[7]. - Adjusted EBITDA for the first half of 2025 was $2.562 million, down from $5.253 million in the first half of 2024[43]. - Adjusted gross profit for Q2 2025 was $9.211 million, compared to $8.296 million in Q2 2024, reflecting an increase of 11%[45]. - Gross profit for Q2 2025 was $11.168 million, compared to $9.928 million in Q2 2024, reflecting a 12.5% increase[37]. Customer Metrics - Unique new customer base grew by approximately 40% year-over-year, while repeat customer rate was 58.4% of gross originations[2][3]. - Customer satisfaction remained high with a Net Promoter Score of 63 as of June 30, 2025[3]. Losses and Expenses - Net loss for Q2 2025 was $7.835 million, compared to a net loss of $6.888 million in Q2 2024, indicating a 13.8% increase in losses[37]. - Adjusted net loss for Q2 2025 was $5.659 million, compared to an adjusted net loss of $5.445 million in Q2 2024[43]. - Operating expenses for Q2 2025 totaled $12.578 million, slightly up from $12.549 million in Q2 2024[45]. - The company incurred $1.145 million in debt refinancing costs in Q2 2025, while there were no such costs in Q2 2024[45]. - Stock-based compensation expense for Q2 2025 was $864,000, down from $1.552 million in Q2 2024[43]. Cash and Liabilities - The company ended Q2 2025 with total cash and cash equivalents of $9.0 million, including $5.3 million of restricted cash[7]. - Cash and cash equivalents at the end of Q2 2025 were $3.659 million, up from $3.465 million at the end of 2024[38]. - Total current liabilities increased to $143.876 million as of June 30, 2025, from $138.693 million at the end of 2024[38]. - The company’s accumulated deficit as of June 30, 2025, was $161.974 million, compared to $148.451 million at the end of 2024[38]. Future Outlook - The company expects gross originations to grow between 20% and 25% for the full year 2025, with revenue growth anticipated at 20% to 25%[10][11]. Write-offs - Write-offs as a percentage of revenue were 9.8% in Q2 2025, within the company's long-term target range of 8% to 10%[7]. Shareholder Information - Weighted average common shares outstanding increased to 4.813 million in Q2 2025 from 4.286 million in Q2 2024[37].