Fubotv earnings beat by $0.10, revenue topped estimates
Katapult Holdings, Inc. (NASDAQ:KPLT), currently trading at $8.95 with a market capitalization of $40.6 million, held its annual shareholder meeting virtually on Friday, as disclosed in a recent SEC filing. The meeting, conducted via webcast, addressed several key proposals that were previously outlined in the company’s proxy statement. According to InvestingPro data, the company’s stock has shown significant volatility, with a 30.6% gain over the past six months despite challenging market conditions.
The meeting saw participation from holders of 3,238,260 shares of common stock, representing approximately 77.35% of the total shares eligible to vote. This participation constituted a quorum, allowing the meeting to proceed with the voting process. While the company maintains active shareholder engagement, InvestingPro analysis indicates the company faces some financial challenges, with a current ratio of 0.62 and negative free cash flow yield.
The first proposal involved the election of Mr. Chris Masto as a Class I Director to the Board of Directors. Mr. Masto’s term will extend until the 2028 annual meeting. The proposal was approved, with 2,522,364 votes in favor, 47,453 votes withheld, and 668,443 broker non-votes.
The second proposal sought the ratification of Grant Thornton LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This proposal was ratified with 3,229,953 votes for, 7,754 votes against, and 553 abstentions.
A third proposal, concerning the approval of executive compensation on a non-binding advisory basis, was also passed. It received 2,428,108 votes in favor, 139,832 against, 1,877 abstentions, and 668,443 broker non-votes.
Finally, the meeting addressed the frequency of advisory votes on executive compensation. The voting results showed a preference for annual votes, with 2,552,994 votes for every year, 1,836 for every two years, and 9,814 for every three years. There were also 5,173 abstentions.
The outcomes of these proposals were certified in the Final Report of the Inspector of Election. The information regarding the meeting and its results is based on a press release statement filed with the SEC. Looking ahead, InvestingPro analysis suggests the company faces both challenges and opportunities, with revenue growth of 9.7% in the last twelve months. Investors seeking deeper insights can access comprehensive analysis and 13 additional ProTips through InvestingPro’s detailed research reports, available for over 1,400 US stocks including KPLT.
In other recent news, Katapult Holdings reported a strong financial performance for the first quarter of 2025, with a 10.6% increase in revenue to $71.9 million and a 15.4% rise in gross originations to $64.2 million. The company also announced new partnerships with major retailers like Ashley Furniture and Bed Bath & Beyond, contributing to its growth. Katapult Holdings is actively negotiating with its lenders to extend the maturity date of its credit facility, aiming for a comprehensive maturity extension amendment. The company received a temporary waiver of certain covenant breaches, extending the maturity date to June 9, 2025. Analysts from Loop Capital Markets and H.C. Wainwright have shown interest in the company’s growth strategy and financial outlook. Katapult Holdings expects a 25-30% increase in gross originations for the second quarter and at least 20% growth for the full year, alongside an adjusted EBITDA of at least $10 million. The company continues to focus on consumer and merchant engagement initiatives to drive growth and maintain operational resilience.
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