The company maintains a vulnerable capital structure characterized by $72.0 million in total debt and a negative equity position of -$31.9 million as of 2026Q1.
| Total Current Assets | 101.31M | 105.23M | 90.37M | 97.64M | 126.78M | 164.44M | 139.22M | 48.66M | 20.53M |
| Cash & Short-Term Investments | 22.35M | 22.43M | 3.46M | 21.41M | 65.43M | 92.49M | 65.62M | 7.51M | 1.47M |
| Cash Only | 22.35M | 22.43M | 3.46M | 21.41M | 65.43M | 92.49M | 65.62M | 7.51M | 1.47M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 5M | 0 | 2.01M | 1.64M | 924K | 1.11M |
| Days Sales Outstanding | - | - | - | 8.24 | - | 2.42 | 2.42 | 3.67 | 9.42 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 78.96M | 82.8M | 86.9M | 71.23M | 61.35M | 65.69M | 70.71M | 39.59M | 17.27M |
| Total Non-Current Assets | 2.69M | 2.64M | 2.8M | 3.23M | 3.27M | 1.72M | 609K | 353K | 508K |
| Property, Plant & Equipment | 470K | 502K | 636K | 1.22M | 1.33M | 576K | 330K | 179K | 156K |
| Fixed Asset Turnover | 574.13x | 581.20x | 388.67x | 182.38x | 157.64x | 526.24x | 749.09x | 513.28x | 276.58x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.2M | 2.12M | 2.08M | 1.92M | 1.85M | 1.06M | 188K | 49K | 54K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 15K | 15K | 91K | 91K | 91K | 91K | 91K | 125K | 298K |
| Total Assets | 104M | 107.87M | 93.17M | 100.86M | 130.05M | 166.16M | 139.83M | 49.01M | 21.04M |
| Asset Turnover | 3.08x | 2.70x | 2.65x | 2.20x | 1.61x | 1.82x | 1.77x | 1.87x | 2.05x |
| Asset Growth % | 11.63% | 15.77% | -7.63% | -22.44% | -21.73% | 18.83% | 185.28% | 133% | - |
| Total Current Liabilities | 107.61M | 117.6M | 138.69M | 42.3M | 50.08M | 16.12M | 17.31M | 26.07M | 6.88M |
| Accounts Payable | 4.29M | 1.89M | 1.49M | 903K | 1.26M | 2.03M | 1.69M | 920K | 1.07M |
| Days Payables Outstanding | 3.59 | 1.84 | 2.7 | 1.83 | 2.68 | 3.46 | 3.68 | 4.71 | 10.37 |
| Short-Term Debt | 71.67M | 78.78M | 112.63M | 0 | 25M | 0 | 0 | 15.8M | 0 |
| Deferred Revenue (Current) | 15.35M | 4.88M | 4.82M | 4.95M | 4.18M | 2.13M | 2.65M | 0 | 0 |
| Other Current Liabilities | 26.2M | 24.92M | 4.21M | 4.18M | 2.38M | 0 | 600K | 1.37M | 873K |
| Current Ratio | 0.94x | 0.89x | 0.65x | 2.31x | 2.53x | 10.20x | 8.04x | 1.87x | 2.99x |
| Quick Ratio | 0.94x | 0.89x | 0.65x | 2.31x | 2.53x | 10.20x | 8.04x | 1.87x | 2.99x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 406K | 437K | 1.27M | 86.56M | 82.04M | 109.24M | 123.47M | 46.89M | 35.76M |
| Long-Term Debt | 377K | 0 | 0 | 85.85M | 80.7M | 101.9M | 110.73M | 46.89M | 35.76M |
| Capital Lease Obligations | 810K | 392K | 444K | 614K | 445K | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | -2.13M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 29K | 45K | 828K | 95K | 902K | 7.34M | 12.74M | 0 | 0 |
| Total Liabilities | 108.02M | 118.04M | 139.97M | 128.85M | 132.12M | 125.36M | 140.78M | 72.96M | 42.63M |
| Total Debt | 72.05M | 79.17M | 113.25M | 90.34M | 106.52M | 101.9M | 110.73M | 62.7M | 35.76M |
| Net Debt | 49.7M | 56.74M | 109.79M | 68.93M | 41.09M | 9.4M | 45.11M | 55.19M | 34.29M |
| Debt / Equity | -2.26x | - | - | - | - | 2.50x | - | - | - |
| Debt / EBITDA | 0.47x | 0.41x | 0.85x | 0.84x | 1.20x | 0.72x | 0.75x | 1.66x | 2.93x |
| Net Debt / EBITDA | 0.33x | 0.29x | 0.83x | 0.64x | 0.46x | 0.07x | 0.30x | 1.46x | 2.81x |
| Interest Coverage | 1.70x | 1.08x | 1.09x | 0.57x | -1.10x | 2.32x | 2.69x | -1.19x | - |
| Total Equity | -31.93M | -10.17M | -46.79M | -27.99M | -2.07M | 40.8M | -949K | -23.94M | -21.6M |
| Equity Growth % | 7.42% | 78.26% | -67.17% | -1254.89% | -105.06% | 4399.16% | 96.04% | -10.86% | - |
| Book Value per Share | -5.85 | -2.02 | -10.76 | -6.85 | -0.53 | 12.66 | -0.74 | -18.76 | -67.80 |
| Total Shareholders' Equity | -31.93M | -10.17M | -46.79M | -27.99M | -2.07M | 40.8M | -949K | -23.94M | -21.6M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 10K | 3K | 9K | 1K |
| Retained Earnings | -141.4M | -147.09M | -148.45M | -122.54M | -85.87M | -36.84M | -58.05M | -80.58M | -59.31M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Negative equity and liquidity
According to the latest quarterly data, KPLT's equity position remains deeply negative at -$31.9 million as of 2026Q1, reflecting a multi-year trend of accumulated losses that suggests the company's capital base has been structurally eroded by its operational model and persistent net losses.
The persistent negative equity indicates that the company has effectively exhausted its book value, leaving it reliant on external financing to sustain operations. Investors should monitor whether this trajectory signals a permanent impairment of shareholder value or if the company can achieve a turnaround through improved lease performance.
As reported in recent financial statements, KPLT carries $72.0 million in total debt as of 2026Q1, which, when viewed against the company's negative equity position, suggests a highly leveraged capital structure that leaves little room for operational errors or macroeconomic volatility.
The reliance on debt to fund the lease-to-own portfolio creates significant interest expense pressure that directly competes with the company's ability to reinvest in growth. This debt-heavy structure appears to be a necessity of the business model rather than a strategic choice, warranting caution regarding refinancing risks.
Based on the 2026Q1 balance sheet, the company maintains a cash position of $22.3 million and a current ratio of 0.94, which indicates a precarious liquidity profile that may struggle to absorb sudden spikes in lease defaults or unexpected contractions in merchant-driven transaction volume.
A current ratio below 1.0 suggests that the company's short-term obligations are beginning to outpace its liquid assets, which may force management to prioritize debt service over growth initiatives. This thin buffer appears to be a primary risk factor for investors evaluating the company's near-term survival.
As evidenced by the reported $141.4 million in accumulated retained earnings losses as of 2026Q1, the headline asset figures are potentially misleading because they do not fully capture the underlying economic reality of the company's historical inability to generate consistent, profitable returns on its lease assets.
The disconnect between total assets and the massive accumulated deficit suggests that the company's asset base may be subject to future impairment risks if lease performance deteriorates. Investors should be wary of the quality of these assets, as they are heavily dependent on the creditworthiness of a subprime consumer base.
Quick answers to the most common questions about buying KPLT stock.
As of 2025, Katapult Holdings, Inc. (KPLT) had total assets of $107.9M including $105.2M in current assets.
Katapult Holdings, Inc. (KPLT) carries total debt of $79.2M, offset by $22.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Katapult Holdings, Inc. (KPLT) has total shareholders' equity (book value) of $-10.2M ($-2.02 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Katapult Holdings, Inc. (KPLT) reported a current ratio of 0.89x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.