Katapult Holdings, Inc. reported its financial results for the fourth quarter and full year ended December 31, 2024, showcasing strong performance that exceeded expectations. Fourth-quarter gross originations grew 11.3% year-over-year to $75.2 million, while total revenue increased by 9.4% year-over-year.
The company achieved its first full year of Adjusted EBITDA profitability since 2021, reporting $4.8 million for fiscal year 2024, an increase of $6.7 million compared to 2023. This was driven by strong top-line growth and fiscal discipline, demonstrating the scalability of its two-sided marketplace model.
The Katapult app marketplace played a crucial role, with approximately 61% of Q4 gross originations starting within the app and KPay gross originations growing over 52% year-over-year to approximately $31 million. Application volume also saw a significant 50% year-over-year increase in Q4.
For the first quarter of 2025, Katapult expects gross originations growth of 10-15% year-over-year, revenue growth of approximately 10% year-over-year, and Adjusted EBITDA between $0.5 million and $1.0 million. The full-year 2025 outlook projects gross originations growth of 15-20% year-over-year, revenue growth of 15-20% year-over-year, and Adjusted EBITDA of at least $10 million.
Despite a reported loss per share of $2.12 for the quarter, the company emphasized its ability to scale revenue without commensurate expenses. The repeat customer rate stood at approximately 61.5% in Q4 2024, indicating strong customer loyalty within its marketplace.
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