Katapult(US:KPLT)2025-08-13 12:00Business Overview - Katapult operates a lease-to-own solution connecting consumers and merchants for omnichannel transactions[6] - The company's mission is to enable consumers to acquire durable goods and connect retailers with engaged consumers[11] - Katapult estimates a total US addressable market of $50-60 billion for underserved consumers[26] Financial Performance - Gross originations grew by 30.4% year-over-year in Q2 2025[20] - Revenue increased by 22.1% year-over-year in Q2 2025[20] - Adjusted EBITDA was $0.3 million in Q2 2025, exceeding the breakeven outlook[20] - Total app originations have reached $300.3 million since the launch of the app marketplace in Q1 2023[35] - KPay originations grew 81% year-over-year in Q2 2025, representing approximately 39% of total gross originations[20, 36] Customer Base and Engagement - Approximately 990,000 applications were approved in the last twelve months[10] - Repeat customers accounted for 58.4% of gross originations in Q2 2025[14, 20, 44] - Total application volume grew by over 91% year-over-year in Q2 2025[17, 20] Marketplace and Merchant Partnerships - The platform includes over 200 merchants[10, 42] - Approximately 60% of Q2 2025 gross originations started in the app marketplace[20, 31, 33, 35]