Why Katapult Holdings Shares Are Rising Today

Katapult Holdings Inc KPLT is trading higher Friday in sympathy with Affirm Holdings Inc AFRM.

Affirm is trading higher after the company announced better-than-expected fourth-quarter fiscal 2021 revenue results and issued guidance above estimates.

Affirm reported a quarterly earnings loss of 48 cents per share, which came in below the estimate for a loss of 29 cents per share. The company reported quarterly revenue of $261.8 million, which beat the estimate of $226.39 million.

Affirm expects first-quarter fiscal 2022 revenue to be in a range of $240 million to $250 million versus the estimate of $233.89 million. 

See Also: Why Affirm Shares Are Trading Higher Today

Katapult has a partnership with Affirm which gives the company access to customers who were rejected for leasing options. Affirm sends the data to Katapult who can offer approval to the customer.

Katapult Holdings is an omnichannel lease-purchase platform company that provides alternative solutions for retailers and consumers. The platform offers an innovative lease purchase solution to consumers, enabling essential transactions at the merchant point of sale.

KPLT Price Action: Katapult Holdings has traded as high as $14.70 and as low as $3.10 over a 52-week period.

The stock was up 8.25% at $6.82 at time of publication.

Photo: Gerd Altmann from Pixabay.