Filing Flows › Katapult Holdings (KPLT) › Q4 2025
Katapult Holdings (KPLT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 11, 2026
Katapult Holdings (KPLT) reported revenue of $73.9M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and -0.2% from the quarter before. Operating margin was -1.4%, net earnings $19.8M (26.8% of revenue).
Katapult Holdings, Q4 2025: revenue $73.9M (+17% year over year), operating margin -1.4%, net earnings $19.8M, operating cash flow −$12.7M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $73.9M | -0.2% | +17% |
| Operating profit | −$1.0M | -142% | — |
| Net earnings | $19.8M | — | — |
| Operating cash flow | −$12.7M | -419% | — |
What changed
Revenue was $73.9M in Q4 2025, up 17% year over year and roughly flat from the previous quarter.
Gross margin was 15.6%, up 3.8 points from Q4 2024. Operating costs exceeded revenue by $1.0M, an operating margin of -1.4%. Operating expenses grew 3% against revenue growth of 17%. Net earnings were $19.8M. The effective tax rate was 1.4%. Non-operating items added $21.1M, 105% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$12.7M. Non-cash charges added back $41.9M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $75.4M. Capital expenditures of $6K exceeded it, leaving free cash flow of −$12.7M.
Questions
What was Katapult Holdings' revenue in the fourth quarter 2025?
Katapult Holdings (KPLT) reported revenue of $73.9M for the fourth quarter 2025 (Q4 2025), +17% from a year earlier and -0.2% from the quarter before.
Was Katapult Holdings profitable in the fourth quarter 2025?
Operating loss was $1.0M (-1.4% of revenue) and net earnings $19.8M.
Source: Katapult Holdings 10-K on SEC EDGAR.