Katapult Holdings, Inc. (“Katapult” or the “Company”) (NASDAQ:
KPLT), has appointed Nancy Walsh as its new Chief Financial
Officer, effective December 12, 2022. Former CFO Karissa Cupito is
transitioning into a senior advisory role to support an orderly
transition through the first quarter of 2023.Walsh is a highly
accomplished senior finance executive with global and domestic
leadership experience in entrepreneurial, investment grade growth
companies. Most recently, she was Executive Vice President and
Chief Financial Officer of LL Flooring Holdings, Inc. (NYSE: LL),
formerly Lumber Liquidators Holdings, Inc., a multi-channel
specialty retailer of hardwood flooring and hardwood flooring
accessories. In that role, she led teams and functions at a
broad-based, strategic level while driving detailed, tactical
execution.
Walsh is a results-driven, mission-focused, collaborative leader
who develops strong relationships and utilizes data-driven
analytics to foster growth and sustainability. She brings to
Katapult deep experience as a senior executive leading innovative,
transformative initiatives within publicly traded retail companies.
Prior to joining LL Flooring Holdings, she was executive vice
president and chief financial officer of Pier 1 Imports, Inc. She
has also held senior finance and risk management roles at The
Bon-Ton Stores, Inc., Tapestry, Inc. (formerly Coach, Inc.), Viacom
and Timberland.
“Nancy is joining Katapult at an exciting time for the
lease-to-own category, as omnichannel and ecommerce merchants look
to provide non-prime consumers more flexible payment solutions for
the everyday durable goods they need,” said Katapult CEO Orlando
Zayas. “Nancy’s category expertise and experience growing prominent
retail brands is a perfect fit for our expanding senior leadership
team.”
“On behalf of everyone at Katapult, I also want to thank Karissa
for her exceptional contributions over the past five years. She has
been instrumental in scaling the business to where it is today.
Under her leadership and guidance, we have launched multiple
strategic initiatives to develop capabilities to fuel our long-term
growth,” Zayas added.
"It has been a privilege to work alongside our leadership team
and the many talented individuals throughout the company,” Cupito
said. “I'm very proud of what we've been able to accomplish, having
evolved into a publicly traded company which we believe is poised
for growth and expansion. This is the right time to transition to
the next chapter in my career and Nancy is exactly who we need to
take Katapult to its next level of growth and scale. She is a
recognized leader with a solid track record and breadth of
experience. I am confident that she will be able to build on the
recent momentum across all aspects of our business.”
About KatapultKatapult is transforming the
world of lease-to-own with transparent lease-purchase plans that
flex to meet the needs of millions of shoppers who are overlooked
by traditional financing. With proprietary artificial intelligence
(AI) and machine learning (ML) risk-modeling technology, Katapult
predicts consumer behavior more accurately than traditional credit
scores—providing new paths to ownership for people and new
customers for omnichannel retailers. Katapult ensures exceptional
experiences with seamless integration, both directly with merchants
and through ecommerce platforms, and award-winning customer
service. Visit www.katapult.com to learn more.
Forward-Looking Statements
Certain statements included in this Press Release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
are accompanied by words such as “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,”
“would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These forward-looking statements include, but are not limited to,
statements regarding our ability to grow and expand our
business.
These forward-looking statements are provided for illustrative
purposes only and are not intended to serve as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Katapult. These
forward-looking statements are subject to a number of risks and
uncertainties, including execution of Katapult’s business strategy,
launching new product offerings, new brands and expanding
information and technology capabilities; Katapult’s market
opportunity and its ability to acquire new customers and retain
existing customers; the timing and impact of our growth initiatives
on our future financial performance and the impact of our new
executive hires and brand strategy; anticipated occurrence and
timing of prime lending tightening and impact on our results of
operations; adoption and success of our mobile application and
virtual credit card solution, Katapult Pay™, general economic
conditions in the markets where Katapult operates, the cyclical
nature of consumer spending, and seasonal sales and spending
patterns of customers; failure to realize the anticipated benefits
of the business combination with FinServ Acquisition Corp.; risks
relating to factors affecting consumer spending that are not under
Katapult’s control, including, among others, levels of employment,
disposable consumer income, inflation, prevailing interest rates,
consumer debt and availability of credit, pandemics (such as
COVID-19), consumer confidence in future economic conditions and
political conditions, and consumer perceptions of personal
well-being and security; risks relating to uncertainty of
Katapult’s estimates of market opportunity and forecasts of market
growth; risks related to the concentration of a significant portion
of our transaction volume with a single merchant partner, or type
of merchant or industry; the effects of competition on Katapult’s
future business; the impact of the COVID-19 pandemic and its effect
on Katapult’s business; unstable market and economic conditions,
including as a result of the conflict involving Russia and Ukraine;
reliability of Katapult’s platform and effectiveness of its risk
model; protection of confidential, proprietary or sensitive
information, including confidential information about consumers,
and privacy or data breaches, including by cyber-attacks or similar
disruptions; ability to attract and retain employees, executive
officers or directors; meeting future liquidity requirements and
complying with restrictive covenants related to long-term
indebtedness; effectively respond to general economic and business
conditions; obtain additional capital, including equity or debt
financing; enhance future operating and financial results;
anticipate rapid technological changes; comply with laws and
regulations applicable to Katapult’s business, including laws and
regulations related to rental purchase transactions; stay abreast
of modified or new laws and regulations applying to Katapult’s
business, including rental purchase transactions and privacy
regulations; maintain relationships with merchant partners; respond
to uncertainties associated with product and service developments
and market acceptance; anticipate the impact of new U.S. federal
income tax law; that Katapult has identified material weaknesses in
its internal control over financial reporting which, if not
remediated, could affect the reliability of its consolidated
financial statements; successfully defend litigation; litigation,
regulatory matters, complaints, adverse publicity and/or misconduct
by employees, vendors and/or service providers; and other events or
factors, including those resulting from civil unrest, war, foreign
invasions (including the conflict involving Russia and Ukraine),
terrorism, or public health crises, or responses to such events);
and those factors discussed in greater detail in the section
entitled “Risk Factors” in Katapult’s periodic reports filed with
the Securities and Exchange Commission, including Katapult’s
Quarterly Reports on Form 10-Q for the quarter ended March 31,
2022, June 30, 2022 and September 30,2022.
If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that Katapult does not presently know or that
Katapult currently believes are immaterial that could also cause
actual results to differ from those contained in the
forward-looking statements. Undue reliance should not be placed on
the forward-looking statements in this Press Release. All
forward-looking statements contained herein are based on
information available to Katapult as of the date hereof, and
Katapult does not assume any obligation to update these statements
as a result of new information or future events, except as required
by law.
Investor Inquiries:Katapult Vice President of
Investor RelationsBill
Wright917-750-0346bill.wright@katapult.com
Press
Inquiries:Allison+Partnerskatapult@allisonpr.com
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