Katapult Holdings Inc. (KPLT) stock prices were down by a massive 48.51% shortly after market trading commenced on August 10th, 2021, bringing the price per share down to USD$5.01 early on in the trading day.
Q2 2021 Financial Reports
August 10th, 2021 saw the e-commerce focused financial tech company announce its Q2 2021 financial report, for the period ended June 30th, 2021. The company reported promising financial performance over the course of the quarter. KPLT stock is confident in its strategy to deliver value to its business partners and its consumers. The company has reported a growing interest in the business by merchants, e-commerce platforms, and prime partners.
KPLT Stock’s Total Revenue
The second quarter of fiscal 2021 saw the company announce USD$77.5 million in total revenue. This is a 27.6% increase from the total revenue reported for the prior-year quarter. Revenue from the start of the fiscal year came out to USD$158.1 million as of June 30th, 2021. This is up from the USD$103.6 million reported in the prior-year period, representing a 52.6 year-over-year increase.
Gross Originations
Gross Originations for the second quarter of fiscal 2021 were reported at USD$64.4 million. This was a 1% increase from the numbers reported in the first quarter of fiscal 2021. The Q2 2021 reports were, however, 17% lower than the second quarter of fiscal 2020. KPLT stock’s compound annual growth rate for Gross Originations was 75.4% from the second quarter of 2019 through to Q2 2021.
KPLT Stock’s Additional Finances
Despite the company onboarding 31 new retailers, KPLT reported a net loss of USD$8.1 million net loss for Q2 2021. This is a significant reduction from the net income of USD$5.1 million reported in the second quarter of 2020. Adjusted net income was reported at USD$1.5 million for the quarter. This was a 70.4% reduction from the USD$5.2 million reported in the second quarter of fiscal 2020. Adjusted EBITDA came out to USD$3.9 million, down 64.8% from the USD$11.1 million in Q2 2020.
Future Outlook for KPLT Stock
Having had to revoke guidance because of the ongoing uncertainty resulting from the pandemic, KPLT is poised to set the stage for its recovery. The company is keen to leverage its resources to usher in a recovery to the hit its shareholder value has taken. Investors are hopeful that management will be able to facilitate significant and sustained increases in shareholder value.
