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Side-by-side financial comparison of Fat Brands, Inc (FAT) and Katapult Holdings, Inc. (KPLT). Click either name above to swap in a different company.
Fat Brands, Inc is the larger business by last-quarter revenue ($140.0M vs $73.9M, roughly 1.9× Katapult Holdings, Inc.). Katapult Holdings, Inc. runs the higher net margin — 26.8% vs -41.6%, a 68.4% gap on every dollar of revenue. On growth, Katapult Holdings, Inc. posted the faster year-over-year revenue change (17.3% vs -2.3%). Katapult Holdings, Inc. produced more free cash flow last quarter ($-12.0M vs $-16.9M). Over the past eight quarters, Katapult Holdings, Inc.'s revenue compounded faster (6.6% CAGR vs -6.1%).
FAT Brands Inc. is an American multi-brand restaurant and sports bar franchise operator headquartered in Beverly Hills, California.
Katapult Holdings, Inc. is a U.S.-based fintech company that provides accessible point-of-sale lease-to-purchase solutions for consumers with limited or no traditional credit history. It partners with a wide network of e-commerce platforms and brick-and-mortar retail merchants across segments including electronics, furniture and home goods to offer flexible payment plans for customers to obtain needed products.
FAT vs KPLT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.0M | $73.9M |
| Net Profit | $-58.2M | $19.8M |
| Gross Margin | — | 15.6% |
| Operating Margin | -12.4% | -1.4% |
| Net Margin | -41.6% | 26.8% |
| Revenue YoY | -2.3% | 17.3% |
| Net Profit YoY | -30.1% | 307.3% |
| EPS (diluted) | $-3.39 | $3.69 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $73.9M | ||
| Q3 25 | $140.0M | $74.0M | ||
| Q2 25 | $146.8M | $71.9M | ||
| Q1 25 | $142.0M | $71.9M | ||
| Q4 24 | $145.3M | $63.0M | ||
| Q3 24 | $143.4M | $60.3M | ||
| Q2 24 | $152.0M | $58.9M | ||
| Q1 24 | $152.0M | $65.1M |
| Q4 25 | — | $19.8M | ||
| Q3 25 | $-58.2M | $-4.9M | ||
| Q2 25 | $-54.2M | $-7.8M | ||
| Q1 25 | $-46.0M | $-5.7M | ||
| Q4 24 | $-67.4M | $-9.6M | ||
| Q3 24 | $-44.8M | $-8.9M | ||
| Q2 24 | $-39.4M | $-6.9M | ||
| Q1 24 | $-38.3M | $-570.0K |
| Q4 25 | — | 15.6% | ||
| Q3 25 | — | 19.7% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 16.9% | ||
| Q1 24 | — | 25.3% |
| Q4 25 | — | -1.4% | ||
| Q3 25 | -12.4% | 3.3% | ||
| Q2 25 | -10.6% | -2.0% | ||
| Q1 25 | -6.0% | -0.7% | ||
| Q4 24 | -27.1% | -7.7% | ||
| Q3 24 | -6.2% | -7.4% | ||
| Q2 24 | -1.8% | -4.5% | ||
| Q1 24 | -0.9% | 5.8% |
| Q4 25 | — | 26.8% | ||
| Q3 25 | -41.6% | -6.7% | ||
| Q2 25 | -36.9% | -10.9% | ||
| Q1 25 | -32.4% | -7.9% | ||
| Q4 24 | -46.4% | -15.2% | ||
| Q3 24 | -31.2% | -14.7% | ||
| Q2 24 | -25.9% | -11.7% | ||
| Q1 24 | -25.2% | -0.9% |
| Q4 25 | — | $3.69 | ||
| Q3 25 | $-3.39 | $-0.94 | ||
| Q2 25 | $-3.17 | $-1.63 | ||
| Q1 25 | $-2.73 | $-1.23 | ||
| Q4 24 | $-4.06 | $-2.17 | ||
| Q3 24 | $-2.74 | $-2.05 | ||
| Q2 24 | $-2.43 | $-1.61 | ||
| Q1 24 | $-2.37 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $22.4M |
| Total DebtLower is stronger | $1.3B | — |
| Stockholders' EquityBook value | $-585.8M | $-38.1M |
| Total Assets | $1.2B | $107.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $22.4M | ||
| Q3 25 | — | $3.4M | ||
| Q2 25 | — | $3.7M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | — | $3.5M | ||
| Q3 24 | — | $25.9M | ||
| Q2 24 | — | $33.7M | ||
| Q1 24 | — | $31.2M |
| Q4 25 | — | — | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $1.3B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.2B | — | ||
| Q1 24 | $1.2B | — |
| Q4 25 | — | $-38.1M | ||
| Q3 25 | $-585.8M | $-58.4M | ||
| Q2 25 | $-536.5M | $-54.1M | ||
| Q1 25 | $-493.9M | $-51.7M | ||
| Q4 24 | $-455.7M | $-46.8M | ||
| Q3 24 | $-386.1M | $-40.3M | ||
| Q2 24 | $-338.6M | $-32.9M | ||
| Q1 24 | $-296.8M | $-27.5M |
| Q4 25 | — | $107.9M | ||
| Q3 25 | $1.2B | $85.9M | ||
| Q2 25 | $1.2B | $90.6M | ||
| Q1 25 | $1.3B | $88.5M | ||
| Q4 24 | $1.3B | $93.2M | ||
| Q3 24 | $1.3B | $92.0M | ||
| Q2 24 | $1.4B | $106.6M | ||
| Q1 24 | $1.4B | $106.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-14.5M | $-11.9M |
| Free Cash FlowOCF − Capex | $-16.9M | $-12.0M |
| FCF MarginFCF / Revenue | -12.1% | -16.2% |
| Capex IntensityCapex / Revenue | 1.7% | 0.0% |
| Cash ConversionOCF / Net Profit | — | -0.60× |
| TTM Free Cash FlowTrailing 4 quarters | $-75.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-11.9M | ||
| Q3 25 | $-14.5M | $4.0M | ||
| Q2 25 | $-26.9M | $-6.6M | ||
| Q1 25 | $-13.2M | $3.4M | ||
| Q4 24 | $-10.4M | $-32.6M | ||
| Q3 24 | $-3.2M | $-5.4M | ||
| Q2 24 | $-14.2M | $-628.0K | ||
| Q1 24 | $-28.4M | $2.0M |
| Q4 25 | — | $-12.0M | ||
| Q3 25 | $-16.9M | $4.0M | ||
| Q2 25 | $-29.3M | — | ||
| Q1 25 | $-17.8M | $3.4M | ||
| Q4 24 | $-11.0M | $-32.6M | ||
| Q3 24 | $-11.1M | $-5.4M | ||
| Q2 24 | $-24.4M | $-653.0K | ||
| Q1 24 | $-32.5M | — |
| Q4 25 | — | -16.2% | ||
| Q3 25 | -12.1% | 5.4% | ||
| Q2 25 | -20.0% | — | ||
| Q1 25 | -12.5% | 4.7% | ||
| Q4 24 | -7.6% | -51.8% | ||
| Q3 24 | -7.7% | -9.0% | ||
| Q2 24 | -16.1% | -1.1% | ||
| Q1 24 | -21.4% | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | 1.7% | 0.0% | ||
| Q2 25 | 1.6% | 0.0% | ||
| Q1 25 | 3.2% | 0.0% | ||
| Q4 24 | 0.4% | 0.1% | ||
| Q3 24 | 5.5% | 0.0% | ||
| Q2 24 | 6.7% | 0.0% | ||
| Q1 24 | 2.7% | 0.0% |
| Q4 25 | — | -0.60× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FAT
| Restaurant Sales | $96.6M | 69% |
| Royalty | $21.6M | 15% |
| Factory | $9.6M | 7% |
| Advertising | $9.1M | 7% |
| Franchisor | $1.5M | 1% |
| Other | $1.5M | 1% |
KPLT
Segment breakdown not available.
