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Side-by-side financial comparison of Katapult Holdings, Inc. (KPLT) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $73.9M, roughly 1.3× Katapult Holdings, Inc.). Katapult Holdings, Inc. runs the higher net margin — 26.8% vs 25.0%, a 1.8% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 17.3%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-12.0M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 6.6%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
KPLT vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.9M | $92.9M |
| Net Profit | $19.8M | $23.2M |
| Gross Margin | 15.6% | 78.7% |
| Operating Margin | -1.4% | 24.1% |
| Net Margin | 26.8% | 25.0% |
| Revenue YoY | 17.3% | 23.3% |
| Net Profit YoY | 307.3% | 17.3% |
| EPS (diluted) | $3.69 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $74.0M | $67.5M | ||
| Q2 25 | $71.9M | $63.2M | ||
| Q1 25 | $71.9M | $52.6M | ||
| Q4 24 | $63.0M | $75.4M | ||
| Q3 24 | $60.3M | $57.9M | ||
| Q2 24 | $58.9M | $52.7M | ||
| Q1 24 | $65.1M | $51.3M |
| Q4 25 | $19.8M | $23.2M | ||
| Q3 25 | $-4.9M | $5.1M | ||
| Q2 25 | $-7.8M | $-553.0K | ||
| Q1 25 | $-5.7M | $-11.2M | ||
| Q4 24 | $-9.6M | $19.8M | ||
| Q3 24 | $-8.9M | $-901.0K | ||
| Q2 24 | $-6.9M | $-4.7M | ||
| Q1 24 | $-570.0K | $-3.9M |
| Q4 25 | 15.6% | 78.7% | ||
| Q3 25 | 19.7% | 73.5% | ||
| Q2 25 | 15.5% | 73.7% | ||
| Q1 25 | 19.9% | 69.0% | ||
| Q4 24 | 11.8% | 77.6% | ||
| Q3 24 | 19.8% | 71.9% | ||
| Q2 24 | 16.9% | 69.5% | ||
| Q1 24 | 25.3% | 68.9% |
| Q4 25 | -1.4% | 24.1% | ||
| Q3 25 | 3.3% | 5.1% | ||
| Q2 25 | -2.0% | -3.2% | ||
| Q1 25 | -0.7% | -24.3% | ||
| Q4 24 | -7.7% | 24.5% | ||
| Q3 24 | -7.4% | -4.3% | ||
| Q2 24 | -4.5% | -11.5% | ||
| Q1 24 | 5.8% | -10.7% |
| Q4 25 | 26.8% | 25.0% | ||
| Q3 25 | -6.7% | 7.5% | ||
| Q2 25 | -10.9% | -0.9% | ||
| Q1 25 | -7.9% | -21.4% | ||
| Q4 24 | -15.2% | 26.3% | ||
| Q3 24 | -14.7% | -1.6% | ||
| Q2 24 | -11.7% | -8.9% | ||
| Q1 24 | -0.9% | -7.5% |
| Q4 25 | $3.69 | $0.46 | ||
| Q3 25 | $-0.94 | $0.10 | ||
| Q2 25 | $-1.63 | $-0.01 | ||
| Q1 25 | $-1.23 | $-0.23 | ||
| Q4 24 | $-2.17 | $0.40 | ||
| Q3 24 | $-2.05 | $-0.02 | ||
| Q2 24 | $-1.61 | $-0.10 | ||
| Q1 24 | $-0.13 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-38.1M | $354.6M |
| Total Assets | $107.9M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $137.5M | ||
| Q3 25 | $3.4M | $135.4M | ||
| Q2 25 | $3.7M | $116.9M | ||
| Q1 25 | $6.0M | $112.9M | ||
| Q4 24 | $3.5M | $116.2M | ||
| Q3 24 | $25.9M | $101.7M | ||
| Q2 24 | $33.7M | $102.5M | ||
| Q1 24 | $31.2M | $110.6M |
| Q4 25 | $-38.1M | $354.6M | ||
| Q3 25 | $-58.4M | $321.9M | ||
| Q2 25 | $-54.1M | $306.8M | ||
| Q1 25 | $-51.7M | $295.5M | ||
| Q4 24 | $-46.8M | $292.0M | ||
| Q3 24 | $-40.3M | $257.5M | ||
| Q2 24 | $-32.9M | $243.0M | ||
| Q1 24 | $-27.5M | $233.9M |
| Q4 25 | $107.9M | $488.0M | ||
| Q3 25 | $85.9M | $453.3M | ||
| Q2 25 | $90.6M | $435.6M | ||
| Q1 25 | $88.5M | $424.6M | ||
| Q4 24 | $93.2M | $432.7M | ||
| Q3 24 | $92.0M | $390.4M | ||
| Q2 24 | $106.6M | $376.8M | ||
| Q1 24 | $106.6M | $356.7M |
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 | $15.0M |
| Free Cash FlowOCF − Capex | $-12.0M | $12.8M |
| FCF MarginFCF / Revenue | -16.2% | 13.8% |
| Capex IntensityCapex / Revenue | 0.0% | 2.4% |
| Cash ConversionOCF / Net Profit | -0.60× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-11.9M | $15.0M | ||
| Q3 25 | $4.0M | $22.1M | ||
| Q2 25 | $-6.6M | $8.2M | ||
| Q1 25 | $3.4M | $6.6M | ||
| Q4 24 | $-32.6M | $22.2M | ||
| Q3 24 | $-5.4M | $10.2M | ||
| Q2 24 | $-628.0K | $18.5M | ||
| Q1 24 | $2.0M | $7.2M |
| Q4 25 | $-12.0M | $12.8M | ||
| Q3 25 | $4.0M | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | $3.4M | $-7.6M | ||
| Q4 24 | $-32.6M | $8.5M | ||
| Q3 24 | $-5.4M | $-9.2M | ||
| Q2 24 | $-653.0K | $1.8M | ||
| Q1 24 | — | $-6.8M |
| Q4 25 | -16.2% | 13.8% | ||
| Q3 25 | 5.4% | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | 4.7% | -14.5% | ||
| Q4 24 | -51.8% | 11.2% | ||
| Q3 24 | -9.0% | -15.9% | ||
| Q2 24 | -1.1% | 3.4% | ||
| Q1 24 | — | -13.3% |
| Q4 25 | 0.0% | 2.4% | ||
| Q3 25 | 0.0% | 3.9% | ||
| Q2 25 | 0.0% | 12.9% | ||
| Q1 25 | 0.0% | 27.0% | ||
| Q4 24 | 0.1% | 18.3% | ||
| Q3 24 | 0.0% | 33.5% | ||
| Q2 24 | 0.0% | 31.8% | ||
| Q1 24 | 0.0% | 27.3% |
| Q4 25 | -0.60× | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KPLT
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
