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Side-by-side financial comparison of Katapult Holdings, Inc. (KPLT) and Phathom Pharmaceuticals, Inc. (PHAT). Click either name above to swap in a different company.
Katapult Holdings, Inc. is the larger business by last-quarter revenue ($73.9M vs $57.6M, roughly 1.3× Phathom Pharmaceuticals, Inc.). On growth, Phathom Pharmaceuticals, Inc. posted the faster year-over-year revenue change (94.1% vs 17.3%). Katapult Holdings, Inc. produced more free cash flow last quarter ($-12.0M vs $-167.0M).
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.
Phathom Pharmaceuticals is a clinical-stage biopharmaceutical firm focused on developing and commercializing innovative therapies for gastrointestinal diseases. Its lead product candidates address acid-related disorders, inflammatory bowel disease, and other GI conditions, serving patients mainly across North America and Europe.
KPLT vs PHAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.9M | $57.6M |
| Net Profit | $19.8M | — |
| Gross Margin | 15.6% | 86.7% |
| Operating Margin | -1.4% | — |
| Net Margin | 26.8% | — |
| Revenue YoY | 17.3% | 94.1% |
| Net Profit YoY | 307.3% | 71.6% |
| EPS (diluted) | $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 | $57.6M | ||
| Q3 25 | $74.0M | $49.5M | ||
| Q2 25 | $71.9M | $39.5M | ||
| Q1 25 | $71.9M | $28.5M | ||
| Q4 24 | $63.0M | $29.7M | ||
| Q3 24 | $60.3M | $16.4M | ||
| Q2 24 | $58.9M | $7.3M | ||
| Q1 24 | $65.1M | — |
| Q4 25 | $19.8M | — | ||
| Q3 25 | $-4.9M | $-30.0M | ||
| Q2 25 | $-7.8M | $-75.8M | ||
| Q1 25 | $-5.7M | $-94.3M | ||
| Q4 24 | $-9.6M | — | ||
| Q3 24 | $-8.9M | $-85.6M | ||
| Q2 24 | $-6.9M | $-91.4M | ||
| Q1 24 | $-570.0K | — |
| Q4 25 | 15.6% | 86.7% | ||
| Q3 25 | 19.7% | 87.5% | ||
| Q2 25 | 15.5% | 87.2% | ||
| Q1 25 | 19.9% | 86.9% | ||
| Q4 24 | 11.8% | 87.1% | ||
| Q3 24 | 19.8% | 85.6% | ||
| Q2 24 | 16.9% | 81.2% | ||
| Q1 24 | 25.3% | — |
| Q4 25 | -1.4% | — | ||
| Q3 25 | 3.3% | -30.8% | ||
| Q2 25 | -2.0% | -151.7% | ||
| Q1 25 | -0.7% | -276.5% | ||
| Q4 24 | -7.7% | — | ||
| Q3 24 | -7.4% | -433.0% | ||
| Q2 24 | -4.5% | -1055.4% | ||
| Q1 24 | 5.8% | — |
| Q4 25 | 26.8% | — | ||
| Q3 25 | -6.7% | -60.5% | ||
| Q2 25 | -10.9% | -191.9% | ||
| Q1 25 | -7.9% | -330.7% | ||
| Q4 24 | -15.2% | — | ||
| Q3 24 | -14.7% | -523.3% | ||
| Q2 24 | -11.7% | -1248.6% | ||
| Q1 24 | -0.9% | — |
| Q4 25 | $3.69 | — | ||
| Q3 25 | $-0.94 | $-0.41 | ||
| Q2 25 | $-1.63 | $-1.05 | ||
| Q1 25 | $-1.23 | $-1.31 | ||
| Q4 24 | $-2.17 | — | ||
| Q3 24 | $-2.05 | $-1.32 | ||
| Q2 24 | $-1.61 | $-1.56 | ||
| Q1 24 | $-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 | $130.0M |
| Total DebtLower is stronger | — | $209.1M |
| Stockholders' EquityBook value | $-38.1M | $-438.2M |
| Total Assets | $107.9M | $259.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $130.0M | ||
| Q3 25 | $3.4M | $135.2M | ||
| Q2 25 | $3.7M | $149.6M | ||
| Q1 25 | $6.0M | $212.3M | ||
| Q4 24 | $3.5M | $297.3M | ||
| Q3 24 | $25.9M | $334.7M | ||
| Q2 24 | $33.7M | $276.2M | ||
| Q1 24 | $31.2M | — |
| Q4 25 | — | $209.1M | ||
| Q3 25 | — | $207.1M | ||
| Q2 25 | — | $205.1M | ||
| Q1 25 | — | $203.2M | ||
| Q4 24 | — | $201.4M | ||
| Q3 24 | — | $175.7M | ||
| Q2 24 | — | $174.4M | ||
| Q1 24 | — | — |
| Q4 25 | $-38.1M | $-438.2M | ||
| Q3 25 | $-58.4M | $-422.5M | ||
| Q2 25 | $-54.1M | $-405.8M | ||
| Q1 25 | $-51.7M | $-338.4M | ||
| Q4 24 | $-46.8M | $-253.6M | ||
| Q3 24 | $-40.3M | $-187.1M | ||
| Q2 24 | $-32.9M | $-233.8M | ||
| Q1 24 | $-27.5M | — |
| Q4 25 | $107.9M | $259.1M | ||
| Q3 25 | $85.9M | $240.3M | ||
| Q2 25 | $90.6M | $250.2M | ||
| Q1 25 | $88.5M | $294.2M | ||
| Q4 24 | $93.2M | $378.3M | ||
| Q3 24 | $92.0M | $387.0M | ||
| Q2 24 | $106.6M | $319.4M | ||
| Q1 24 | $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 | $-11.9M | $-166.8M |
| Free Cash FlowOCF − Capex | $-12.0M | $-167.0M |
| FCF MarginFCF / Revenue | -16.2% | -290.0% |
| Capex IntensityCapex / Revenue | 0.0% | 0.4% |
| Cash ConversionOCF / Net Profit | -0.60× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-328.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.9M | $-166.8M | ||
| Q3 25 | $4.0M | $-14.1M | ||
| Q2 25 | $-6.6M | $-62.7M | ||
| Q1 25 | $3.4M | $-84.9M | ||
| Q4 24 | $-32.6M | $-266.8M | ||
| Q3 24 | $-5.4M | $-63.6M | ||
| Q2 24 | $-628.0K | $-70.7M | ||
| Q1 24 | $2.0M | — |
| Q4 25 | $-12.0M | $-167.0M | ||
| Q3 25 | $4.0M | $-14.1M | ||
| Q2 25 | — | $-62.8M | ||
| Q1 25 | $3.4M | $-84.9M | ||
| Q4 24 | $-32.6M | $-266.9M | ||
| Q3 24 | $-5.4M | $-63.6M | ||
| Q2 24 | $-653.0K | $-70.8M | ||
| Q1 24 | — | — |
| Q4 25 | -16.2% | -290.0% | ||
| Q3 25 | 5.4% | -28.6% | ||
| Q2 25 | — | -159.0% | ||
| Q1 25 | 4.7% | -297.9% | ||
| Q4 24 | -51.8% | -899.8% | ||
| Q3 24 | -9.0% | -389.0% | ||
| Q2 24 | -1.1% | -966.2% | ||
| Q1 24 | — | — |
| Q4 25 | 0.0% | 0.4% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.0% | 0.2% | ||
| Q1 25 | 0.0% | 0.1% | ||
| Q4 24 | 0.1% | 0.5% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.0% | 0.6% | ||
| Q1 24 | 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.
