--- title: "Katapult | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 79.02 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285531188.md" datetime: "2026-05-07T10:38:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285531188.md) - [en](https://longbridge.com/en/news/285531188.md) - [zh-HK](https://longbridge.com/zh-HK/news/285531188.md) --- # Katapult | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 79.02 M Revenue: As of FY2026 Q1, the actual value is USD 79.02 M, missing the estimate of USD 84.15 M. EPS: As of FY2026 Q1, the actual value is USD 0.07. EBIT: As of FY2026 Q1, the actual value is USD 7.344 M. ### Revenue - Total revenue for Q1 2026 was $79.0 million, an increase of 9.8% year-over-year. - Rental revenue was $77.4 million in Q1 2026, up from $71.1 million in Q1 2025. - Other revenue was $1.6 million in Q1 2026, compared to $0.9 million in Q1 2025. ### Gross Profit - Gross profit reached $18.2 million in Q1 2026, up from $14.3 million in Q1 2025, driven by a $3.9 million increase. - Adjusted gross profit was $16.3 million in Q1 2026, compared to $12.5 million in Q1 2025. ### Operating Expenses - Total operating expenses decreased by $1.0 million year-over-year in Q1 2026. - Fixed cash operating expenses were $9.3 million in Q1 2026, down 10.8% year-over-year from $10.4 million in Q1 2025. ### Operational Profitability - Income from operations was $4.3 million in Q1 2026, an improvement from a loss of - $0.5 million in Q1 2025. - Net income was $5.7 million for Q1 2026, representing a 200% improvement compared to a net loss of - $5.7 million in Q1 2025. - Adjusted net income was $3.7 million for Q1 2026, an improvement compared to an adjusted net loss of - $3.4 million in Q1 2025. - Adjusted EBITDA was $6.4 million for Q1 2026, a nearly 200% improvement from $2.2 million in Q1 2025. ### Cash Flow and Liquidity - Cash provided by operations was $12.2 million in Q1 2026, significantly up from $3.4 million in Q1 2025. - Katapult Holdings, Inc. ended the quarter with total cash and cash equivalents of $28.1 million, including $5.8 million of restricted cash. - The company had $71.6 million of outstanding debt on its revolving credit facility at the end of Q1 2026. ### Key Operational Metrics - Gross originations were $64.2 million, a 0.1% increase year-over-year. - Excluding the home furnishings and mattress category, gross originations grew 17.5% year-over-year. - Total lease applications declined 5.0% year-over-year in the first quarter. - Monthly Active Users (MAU) were down approximately 1.0% in the first quarter. - 60.8% of first quarter gross originations originated in the Katapult app marketplace, which saw gross originations grow 3.1% year-over-year. - Cross-shopping activity increased by 14.3% and represented approximately 29.0% of total gross originations. - Customer lifetime value grew 14.8%, driven by an increase in the average number of leases per customer. - Customer satisfaction remained high with a Net Promoter Score of 63 as of March 31, 2026. - Approximately 60.9% of gross originations came from repeat customers in Q1 2026. - Katapult Pay (KPay) conversion rate grew 200 basis points, and the number of KPay transactions increased by approximately 22.3% year-over-year. - Unique KPay customer count grew approximately 9.0% year-over-year. - KPay gross originations grew 18.6% year-over-year, accounting for 42.0% of total gross originations. - Direct and waterfall gross originations, representing approximately 58% of total originations, declined 10.1%. - Excluding the home furnishings and mattress category, direct and waterfall originations grew approximately 10.0%. - The cohort of top 25 merchants declined 4.2% in Q1 2026. - Katapult Holdings, Inc. added 46 direct or waterfall merchants or merchant pathways to its ecosystem and launched BrandsMart in-store experience and KPay app marketplace. - Write-offs as a percentage of revenue were 9.2% in Q1 2026, within the company’s 8% to 10% long-term target range, compared to 9.0% in Q1 2025. ### Outlook / Guidance - Katapult Holdings, Inc. is not providing a business outlook at this time due to pending mergers with The Aaron’s Company and CCF Holdings LLC. - The merger is expected to close within Q3 2026 and aims to create a premier omnichannel platform with a stronger financial profile. - This includes over $4 billion in pro forma revenue and approximately $450 million in pro forma Adjusted EBITDA for the last twelve months as of Q3 2025. ### Related Stocks - [KPLT.US](https://longbridge.com/en/quote/KPLT.US.md) ## Related News & Research - [Katapult Holdings director William A. 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