DEFR14A: Katapult Holdings Files Amendment to Proxy Statement, Clarifies Adjusted EBITDA Calculation

Katapult Holdings amends its definitive proxy statement to include a reconciliation of net loss to adjusted EBITDA for its 2023 Short Term Incentive Plan and performance stock units.

Summary

• Katapult Holdings, Inc. filed Amendment No. 1 to its definitive proxy statement related to the Annual Meeting of Stockholders to be held on June 5, 2024.
• The amendment includes Appendix A, which provides a reconciliation of net loss to adjusted EBITDA as calculated for the company's 2023 Short Term Incentive Plan (STIP) and 2023 performance stock units (PSUs).
• The reconciliation details the adjustments made to the net loss of $(36,666,000) to arrive at an adjusted EBITDA of $(852,000).
• Adjustments include adding back interest expense and other fees of $17,822,000, subtracting interest income of $1,697,000, and accounting for other financial items.

Sentiment

Score: 5

Explanation: The document is a regulatory filing providing financial details. The sentiment is neutral as it primarily presents factual information.

Negatives

• The company reported a net loss of $(36,666,000) for the year ended December 31, 2023.
• The adjusted EBITDA was also negative, at $(852,000).

Industry Context

This filing provides transparency into Katapult Holdings' financial performance and executive compensation metrics, which is standard practice for publicly traded companies.

Key Dates

Keywords

Proxy Statement, Amendment, Adjusted EBITDA, Net Loss, Reconciliation, Katapult Holdings, STIP, PSUs, Financial Performance