Katapult Provides Interim Update On Raw Origins

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PLANO, Texas, December 01, 2021 (GLOBE NEWSWIRE) – Katapult Holdings, Inc. (“Katapult” or the “Company”) (NASDAQ: KPLT), an e-commerce-focused financial technology company, provided today an interim update on his Raw Origins to date. The Company recorded gross assemblies from October 1, 2021 to November 30, 2021, of $ 40.4 million. This compares to gross mounts over the same period of 2020 and 2019 of $ 41.7 million and $ 26.1 million, respectively.

Raw origins
(Oct 1 – Nov 30) (millions of $) Switch
2019 $ 26.1
2020 $ 41.7 59.8%
2021 $ 40.4 -3.2%

Chairman and CEO Orlando Zayas notes, “Our gross creations to date are down 3.2% year-on-year, reflecting many of the same economic trends we saw in the third quarter.e quarter continuing in the 4e trimester. We look forward to seeing how December 2021 plays out. We will provide more details on gross creations and other key metrics when we release fourth quarter and full year 2021 results in 2022. ”

Managing Director Orlando Zayas and CFO Karissa Cupito will participate in a fireside conversation today, Wednesday, December 1, 2021 at 5:00 p.m. EST at the annual investment from Stephens.

The live audio webcast will be available on Katapult’s Investor Relations website at https://ir.katapultholdings.com/news-events/news-releases. After the event, an archive of the webcast will also be available for a limited time on the Katapult Investor Relations website.

Link to the webcast:
https://wsw.com/webcast/stph32/kplt/1845484

Forward-looking statements

Certain statements included in this press release that are not historical facts are forward-looking statements for the purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally accompanied by words such as “believe,” “may”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “should”, “should”, “plan” “,” Predict “,” seem “,” seek “,” future “,” prospect “and similar expressions which predict or indicate future events or trends or which are not statements of historical subjects. These forward-looking statements include, without limitation, statements regarding our performance in December. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Katapult’s management and are not predictions of actual performance. These forward-looking statements are provided for informational purposes only and are not intended to be used as, and should not be relied upon by any investor as, a guarantee, assurance, prediction or definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many real events and circumstances are beyond Katapult’s control. These forward-looking statements are subject to a number of risks and uncertainties, including general economic conditions in the markets in which Katapult operates, the cyclical nature of consumer spending and seasonal sales and customer spending habits; failure to realize the expected benefits of the transaction with FinServ Acquisition Corp. ; risks related to factors affecting consumer spending that are not under Katapult’s control, including, but not limited to, employment levels, consumer disposable income, prevailing interest rates, consumer debt and the availability of credit, pandemics (such as COVID-19), consumer confidence in future economic and political conditions, and consumer perceptions of personal well-being and safety; risks associated with the uncertainty of Katapult’s estimates on market opportunities and market growth forecasts; risks related to the concentration of a significant part of Katapult’s activities among a limited number of traders, or one type of trader or industry; the effects of competition on Katapult’s future business; the impact of the COVID-19 pandemic and its effects on Katapult’s activities; Katapult’s ability to issue shares or equity-linked securities or to obtain debt financing in the future or any impact of raising additional capital, and the factors discussed in more detail in the section titled “Factors” risk ”in Katapult’s Quarterly Report on Form 10 -Q filed with the Securities and Exchange Commission (SEC) on November 12, 2021, as well as in other documents filed, or to be filed, by Katapult, with the SEC . If any of these risks materialize or if our assumptions prove to be incorrect, actual results could differ materially from the results suggested by these forward-looking statements. There may be additional risks that Katapult is not currently aware of or that Katapult currently considers to be insignificant, which could also cause actual results to differ from those contained in forward-looking statements. In addition, forward-looking statements reflect Katapult’s expectations, plans or forecasts regarding future events and views as of the date of this press release. Katapult anticipates that subsequent events and developments will cause Katapult’s valuations to change. However, although Katapult may choose to update these forward-looking statements at some time in the future, Katapult specifically disclaims any obligation to do so. These forward-looking statements should not be taken as representing Katapult’s assessments as of a date subsequent to the date of this press release. Therefore, one should not place undue reliance on forward-looking statements.

Key performance indicators

Gross Originations are defined as the retail price of the merchandise associated with lease-purchase contracts entered into during the period via the Katapult platform. Raw Origins do not represent earned income. However, we believe this is a useful operating metric for both the Company and investors in assessing the volume of transactions taking place on our platforms.

About Katapult

Katapult (NASDAQ: KPLT) is a next-generation platform for digital and mobile commerce aimed at unprivileged consumers. Katapult provides point-of-sale leasing purchase options for consumers who have difficulty accessing traditional financial products who seek to obtain everyday durable goods. The company has developed a sophisticated end-to-end technology platform that enables seamless integration with merchants, subscription capabilities that exceed industry standards, and exceptional customer experiences. For more information, visit Katapult.com.

Contacts
Katapult Vice President of Investor Relations
Bill Wright
917-750-0346
[email protected]

Press inquiries:
Tribe Builder Media
Kristen shea
929-367-8993
[email protected]


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