Katapult Holdings, Inc.
For the period ended Dec 31, 2025. Filed Mar 11, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 11, 2026
KPLT$11.52-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(dollars in thousands)
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $1,365 | $(25,915) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 164,313 | 140,636 |
| Depreciation for early lease purchase options (buyouts) | 37,671 | 29,061 |
| Depreciation for impaired leases | 28,652 | 24,962 |
| Change in fair value of derivative liability, warrants, and other | (17,381) | (256) |
| Stock-based compensation | 3,693 | 5,759 |
| Gain on extinguishment of term loan and settlement of derivative liability, net | (5,120) | — |
| Amortization of debt discount | 3,002 | 3,104 |
| Amortization of debt issuance costs, net | 2,410 | 220 |
| Accrued PIK interest expense | 3,291 | 1,440 |
| Amortization of right-of-use assets | 183 | 318 |
| Changes in operating assets and liabilities: | ||
| Property held for lease | (236,014) | (201,189) |
| Prepaid expenses and other current assets | 2,288 | (2,053) |
| Litigation insurance reimbursement receivable | — | 5,000 |
| Accounts payable | 400 | 588 |
| Accrued liabilities | 129 | (6,775) |
| Accrued litigation | (695) | (7,055) |
| Lease liabilities | (180) | (288) |
| Unearned revenues | 60 | (126) |
| Net cash used in operating activities | (11,933) | (32,569) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (34) | (54) |
| Additions to capitalized software | (1,147) | (1,249) |
| Other assets and security deposits | 76 | — |
| Net cash used in investing activities | (1,105) | (1,303) |
| Cash flows from financing activities: | ||
| Proceeds from New and Existing Revolving Facilities | 21,968 | 34,421 |
| Principal repayments on New and Existing Revolving Facilities | (25,999) | (12,406) |
| Repayment of term loan and repurchase of warrants | (35,070) | — |
| Payments of issuance costs related to debt and preferred stock | (5,347) | — |
| Repurchases of restricted stock | (594) | (613) |
| Proceeds from issuance of Convertible Preferred Stock and warrants | 65,000 | — |
| Proceeds from exercise of stock options | 8 | 211 |
| Net cash provided by financing activities | 19,966 | 21,613 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 6,928 | (12,259) |
| Cash, cash equivalents and restricted cash at beginning of period | 16,552 | 28,811 |
| Cash, cash equivalents and restricted cash at end of period | $23,480 | $16,552 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for interest | $11,693 | $13,709 |
| Cash paid for income taxes | $106 | $226 |
| Cash paid for operating leases | $275 | $359 |
| Supplemental disclosure of non-cash investing and financing activities | ||
|---|---|---|
| Issuance of warrants to purchase common stock in connection with debt refinancing | $3,934 | $— |
| Issuance of common stock in connection with litigation settlements | $1,505 | $1,756 |
| Issuance of New Term Loan derivative liability in connection with debt refinancing | $3,558 | $— |
| Debt issuance costs accrued but not yet paid | $200 | $— |
| Extinguishment of Existing Term Loan | $32,654 | $— |
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