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      Katapult Holdings, Inc. (KPLT) Stock on a Plunge, Here’s the Reason - Stocks Telegraph

      By Hassan Masood

      Published on

      December 2, 2021

      6:18 AM UTC

      Katapult Holdings, Inc. (KPLT) Stock on a Plunge, Here’s the Reason - Stocks Telegraph

       Katapult Holdings, Inc. (KPLT), an e-commerce focused financial technology company, has plunged 15.30% in aftermarket trading session. Consequently, KPLT stock is changing hands at $3.10 at the time of the writing. On Wednesday, KPLT closed the day at $3.66 after declining 6.87% during regular trading hours. The consistent slide could be attributed to the interim update on gross originations.

      Why KPLT Plunging?

      On Wednesday, KPLT announced an interim update on its quarter to date gross originations. The company booked the gross originations from the 1st of October till 30th November, 2021. The gross originations stand at $40.4 million. Compared to that, the gross originations during the same period of 2020 and 2019 were about $41.7 million and $26.1 million respectively.

      Q3 2021 Operational Results

      On 9th November, KPLT released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated total revenue of $71.71 million during the quarter against $71.19 million for the same quarter of 2020. The total operating expenses for the three months were $20.98 million against $10.68 million for the same period of 2020. The net income generated by the company during the period was $13.74 million (or $0.14 and $0.13 per basic and diluted share) against $9.84 million (or $0.32 and $0.21 per basic and diluted share) for the same period of 2020.

      Executive Commentary

      Orlando Zayas, CEO of KPLT, while commenting on the results said that the company is pleased to report the excellent quarterly results that represent a step forward in its long term growth journey. He further said that the company’s revenue has continuously been growing based on the deliverance of high levels of customer and merchant satisfaction with its products. He hoped that the company’s growth strategy would expand its merchant partners and would reach economies of scale.

      Future Outlook for KPLT

      KPLT stock has declined more than 20% during the last three months. Looking ahead, it appears that the innovative business strategies are slowly and steadily building up the interest of investors in KPLT stock. Hence, in coming times. we could see an exuberant performance of KPLT stock.

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