Katapult Holdings Inc. (KPLT) stock gained a further 4.28% in the after-hours, calming down from its mid-day gain of 14.74%. The stock traded between $2.96 and $3.37 to close the regular session at $3.27 with 3.73 million shares. Following the gain of $0.42, KPLT gained a mere $0.14 in the after-hours to reach $3.41.
While it did calm down a notch, KPLT stock seems to be recovering well from the fall of fintech stocks due to threats of omicron and inflation.
KPLT stock and Recent Movements
The financial technology company, Katapult Holdings Inc. (KPLT) has a current market capitalization of $277.8 million. Moreover, the company has 97.47 million shares outstanding in the market.
KPLT stock lost 10.66% in the past five trading sessions. While it went down by 34.47% last month, the stock has lost 73.84% year to date. The recent downfall in the stock can be attributed to rising concerns over the newly emerged omicron variant. Moreover, the hiking inflation had also a role to play in it. Due to the market situation, most of the fintech stocks saw a fall Last month.
Currently, like some other fintech stocks, KPLT is also recovering, as it has started trading in the green. Even though the stock traded on a calmer note in the after-hours, it was still trading in the green.
Interim Updates on Gross Originations
On December 01, Katapult Holdings Inc. (KPLT) disclosed its interim updates on gross originations for the ongoing quarter. KPLT booked $40.4 million of gross originations from October 1 to November 30, 2021. Previously the gross originations were $41.7 million in the same period of 2020. This represents a 3.2% decrease year-over-year.
Stephens Annual Investment Conference
KPLT’s CEO, Orlando Zayas and CFO, Karissa Cupito participated in the Stephens Annual Investment Conference held on December 01, 2021. During the conference, the company’s CEO and CFO provided updates on KPLT’s fourth-quarter performance. The participation was previously announced on November 23.
KPLT’s Q3 Financials
On November 09, the company announced its financial results for the third quarter of 2021. In the third quarter of 2021, the revenue was $71.7 million, which showed an increase of just 1% from the year-ago quarter.
Moreover, the net income for the quarter was $13.7 million and the adjusted net income(loss) was $(4.5) million in the third quarter of 2021.
