Katapult Holdings, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the U.S. Securities and Exchange Commission on November 13, 2026, covering both third-quarter and nine-month results following a significant merger transaction completed during the period.

Key Highlights

  • Third-quarter net loss: The company reported a net loss of $27,994 thousand for the three months ended September 30, 2026, compared to a net loss of $329 thousand in the same period of 2025.
  • Total revenues expanded: Third-quarter total revenues were $753,894 thousand, up from $443,296 thousand in Q3 2025, with new lease revenues of $229,593 thousand and merchandise sales of $75,544 thousand added after the merger.
  • Nine-month net income: Net income for the nine months ended September 30, 2026 was $51,304 thousand, according to the condensed consolidated statements of operations.
  • Total assets grew sharply: Total assets were $3,147,523 thousand at September 30, 2026, compared to $1,419,070 thousand at December 31, 2025.
  • Shares issued in connection with Mergers: 28,472 thousand shares of common stock were issued in connection with the Mergers during Q3 2026, bringing total shares issued and outstanding to 84,837,129 at September 30, 2026.
  • Total equity turned positive: Total equity was $28,082 thousand at September 30, 2026, compared to a deficit of $(124,708) thousand at December 31, 2025.
  • Debt increased substantially: Net debt was $1,950,864 thousand at September 30, 2026, up from $1,024,687 thousand at December 31, 2025.

Katapult's Balance Sheet and Operations After the Mergers

According to the filing, Katapult Holdings (NASDAQ:KPLT) completed a merger transaction during the third quarter of 2026 that materially changed the company's size and business mix. Prior to the Mergers, the company reported only consumer finance revenues; following the transaction, lease revenues and merchandise sales were added as new revenue categories. The filing states that 28,472 thousand shares of common stock were issued in connection with the Mergers, and the equity structure as of December 31, 2025 was restated to reflect those shares as if held since the beginning of the earliest period presented, per Note 1 "Reverse Merger and Basis of Presentation."

The condensed consolidated statements of operations show total revenues of $753,894 thousand for Q3 2026, with consumer finance revenues of $448,757 thousand, lease revenues of $229,593 thousand, and merchandise sales of $75,544 thousand. Total cost of revenues for the quarter was $316,199 thousand, yielding gross profit of $437,694 thousand. Selling, general and administrative expenses of $412,839 thousand reduced operating profit to $24,855 thousand. Interest expense of $64,902 thousand and an income tax benefit of $12,065 thousand resulted in a net loss of $27,994 thousand for the quarter, the filing disclosed.

For the nine months ended September 30, 2026, the company reported total revenues of $1,624,140 thousand and total cost of revenues of $596,667 thousand. The filing shows operating profit of $150,713 thousand for the nine-month period, with interest expense of $146,994 thousand and an income tax benefit of $47,596 thousand producing net income of $51,304 thousand. Cash and cash equivalents rose to $260,985 thousand at September 30, 2026 from $94,575 thousand at December 31, 2025. Goodwill increased to $297,914 thousand from $107,888 thousand over the same period, consistent with the merger activity described in the filing.

What Was Disclosed

Katapult Holdings filed its quarterly report covering the period ended September 30, 2026, disclosing a third-quarter net loss, significantly expanded revenues and assets following a merger, an increase in net debt to $1,950,864 thousand, and 84,837,129 shares outstanding at the balance sheet date.