Katapult Holdings, Inc.
KPLT Technology Software Infrastructure
Katapult Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $291.8 million, up 18.0% from fiscal 2024. In the quarter to June 2026, revenue grew 4.00%, EPS grew 13.5%, free cash flow grew 6.44% and total debt fell 32.0%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
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Katapult Holdings, Inc. (KPLT) Altman Z-score
Katapult Holdings, Inc.'s Altman Z-score for fiscal 2025 is 0.78, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 0.78 | 1.14 |
| FY2024 | −0.36 | (1.11) |
| FY2023 | 0.75 | (0.35) |
| FY2022 | 1.10 | (2.62) |
| FY2021 | 3.72 | (1.03) |
| FY2020 | 4.75 | 3.91 |
| FY2019 | 0.84 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.11) | — | −0.14 | |
| Retained earnings / total assets | (1.36) | — | −1.91 | |
| EBIT / total assets | 0.00 | — | −0.02 | |
| Market value of equity / total liabilities | 0.22 | — | 0.13 | |
| Sales / total assets | 2.70 | — | 2.70 | |
| Altman Z-score | Distress zone | 0.78 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −5.50 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| IIIV i3 Verticals, Inc. compare | 4.6× |
| ALLT Allot Ltd. compare | 3.5× |
| CINT CI&T Inc. compare | 3.1× |
| OWLS OBOOK Holdings Inc. compare | 2.2× |
| LSAK Lesaka Technologies, Inc. compare | 2.2× |
| KPLT Katapult Holdings, Inc. | 0.8× |
| PRTH Priority Technology Holdings, Inc. compare | 0.7× |
| BLZE Backblaze, Inc. compare | 0.2× |
| RPAY Repay Holdings Corporation compare | −0.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets