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Side-by-side financial comparison of Katapult Holdings, Inc. (KPLT) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Katapult Holdings, Inc. is the larger business by last-quarter revenue ($73.9M vs $73.5M, roughly 1.0× Target Hospitality Corp.). Katapult Holdings, Inc. runs the higher net margin — 26.8% vs -20.3%, a 47.2% gap on every dollar of revenue. On growth, Target Hospitality Corp. posted the faster year-over-year revenue change (22.0% vs 17.3%). Over the past eight quarters, Katapult Holdings, Inc.'s revenue compounded faster (6.6% CAGR vs 0.7%).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
KPLT vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.9M | $73.5M |
| Net Profit | $19.8M | $-14.9M |
| Gross Margin | 15.6% | 9.6% |
| Operating Margin | -1.4% | -22.9% |
| Net Margin | 26.8% | -20.3% |
| Revenue YoY | 17.3% | 22.0% |
| Net Profit YoY | 307.3% | -219.1% |
| EPS (diluted) | $3.69 | $-0.14 |
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 | $73.5M | ||
| Q3 25 | $74.0M | $91.6M | ||
| Q2 25 | $71.9M | $54.9M | ||
| Q1 25 | $71.9M | $54.9M | ||
| Q4 24 | $63.0M | $60.2M | ||
| Q3 24 | $60.3M | $65.8M | ||
| Q2 24 | $58.9M | $67.5M | ||
| Q1 24 | $65.1M | $72.4M |
| Q4 25 | $19.8M | $-14.9M | ||
| Q3 25 | $-4.9M | $-795.0K | ||
| Q2 25 | $-7.8M | $-14.9M | ||
| Q1 25 | $-5.7M | $-6.5M | ||
| Q4 24 | $-9.6M | $12.5M | ||
| Q3 24 | $-8.9M | $20.0M | ||
| Q2 24 | $-6.9M | $18.4M | ||
| Q1 24 | $-570.0K | $20.4M |
| Q4 25 | 15.6% | 9.6% | ||
| Q3 25 | 19.7% | 19.6% | ||
| Q2 25 | 15.5% | -0.6% | ||
| Q1 25 | 19.9% | 32.7% | ||
| Q4 24 | 11.8% | 61.5% | ||
| Q3 24 | 19.8% | 68.7% | ||
| Q2 24 | 16.9% | 69.4% | ||
| Q1 24 | 25.3% | 67.8% |
| Q4 25 | -1.4% | -22.9% | ||
| Q3 25 | 3.3% | 0.1% | ||
| Q2 25 | -2.0% | -30.8% | ||
| Q1 25 | -0.7% | -2.0% | ||
| Q4 24 | -7.7% | 34.5% | ||
| Q3 24 | -7.4% | 42.5% | ||
| Q2 24 | -4.5% | 43.8% | ||
| Q1 24 | 5.8% | 42.0% |
| Q4 25 | 26.8% | -20.3% | ||
| Q3 25 | -6.7% | -0.9% | ||
| Q2 25 | -10.9% | -27.2% | ||
| Q1 25 | -7.9% | -11.8% | ||
| Q4 24 | -15.2% | 20.8% | ||
| Q3 24 | -14.7% | 30.4% | ||
| Q2 24 | -11.7% | 27.2% | ||
| Q1 24 | -0.9% | 28.2% |
| Q4 25 | $3.69 | $-0.14 | ||
| Q3 25 | $-0.94 | $-0.01 | ||
| Q2 25 | $-1.63 | $-0.15 | ||
| Q1 25 | $-1.23 | $-0.07 | ||
| Q4 24 | $-2.17 | $0.12 | ||
| Q3 24 | $-2.05 | $0.20 | ||
| Q2 24 | $-1.61 | $0.18 | ||
| Q1 24 | $-0.13 | $0.20 |
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 | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $-38.1M | $389.3M |
| Total Assets | $107.9M | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $8.3M | ||
| Q3 25 | $3.4M | $30.4M | ||
| Q2 25 | $3.7M | $19.2M | ||
| Q1 25 | $6.0M | $34.5M | ||
| Q4 24 | $3.5M | $190.7M | ||
| Q3 24 | $25.9M | $177.7M | ||
| Q2 24 | $33.7M | $154.3M | ||
| Q1 24 | $31.2M | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $-38.1M | $389.3M | ||
| Q3 25 | $-58.4M | $402.4M | ||
| Q2 25 | $-54.1M | $401.3M | ||
| Q1 25 | $-51.7M | $415.3M | ||
| Q4 24 | $-46.8M | $421.1M | ||
| Q3 24 | $-40.3M | $417.6M | ||
| Q2 24 | $-32.9M | $397.2M | ||
| Q1 24 | $-27.5M | $375.5M |
| Q4 25 | $107.9M | $530.2M | ||
| Q3 25 | $85.9M | $541.2M | ||
| Q2 25 | $90.6M | $533.7M | ||
| Q1 25 | $88.5M | $562.5M | ||
| Q4 24 | $93.2M | $725.8M | ||
| Q3 24 | $92.0M | $709.8M | ||
| Q2 24 | $106.6M | $697.0M | ||
| Q1 24 | $106.6M | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $5.7M |
| Free Cash FlowOCF − Capex | $-12.0M | — |
| FCF MarginFCF / Revenue | -16.2% | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | -0.60× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.9M | $5.7M | ||
| Q3 25 | $4.0M | $53.4M | ||
| Q2 25 | $-6.6M | $11.1M | ||
| Q1 25 | $3.4M | $3.9M | ||
| Q4 24 | $-32.6M | $30.6M | ||
| Q3 24 | $-5.4M | $31.4M | ||
| Q2 24 | $-628.0K | $39.1M | ||
| Q1 24 | $2.0M | $50.6M |
| Q4 25 | $-12.0M | — | ||
| Q3 25 | $4.0M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $3.4M | $-11.6M | ||
| Q4 24 | $-32.6M | — | ||
| Q3 24 | $-5.4M | — | ||
| Q2 24 | $-653.0K | — | ||
| Q1 24 | — | — |
| Q4 25 | -16.2% | — | ||
| Q3 25 | 5.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 4.7% | -21.1% | ||
| Q4 24 | -51.8% | — | ||
| Q3 24 | -9.0% | — | ||
| Q2 24 | -1.1% | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | 28.2% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | -0.60× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KPLT
Segment breakdown not available.
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
