Katapult Holdings, Inc. (KPLT) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K, dated September 2, 2026, discloses a change in the registrant's certifying accountant. The report follows the completion of a business combination on August 11, 2026, with CCF Holdings LLC and Aaron's Intermediate Holdco, Inc., which are now wholly owned subsidiaries of Katapult Holdings, Inc.
Key Financial Metrics
The filing does not provide specific revenue, profit, cash flow, margin, debt, or liquidity figures for the current period. However, it notes that the independent auditor's reports for the fiscal years ended December 31, 2025, and December 31, 2024, included an explanatory paragraph expressing substantial doubt about the Company's ability to continue as a going concern.
Material Changes
- Dismissal of Auditor: Grant Thornton LLP was dismissed as the independent registered public accounting firm effective September 2, 2026.
- Appointment of New Auditor: Elliott Davis, PLLC was appointed as the new independent registered public accounting firm effective September 2, 2026.
- Reasoning: Elliott Davis previously served as the auditor for the acquired subsidiaries (CCF Holdings LLC since 2020 and Aaron's since 2024).
Management Commentary, Risks, and Contingencies
Management confirmed there were no disagreements with Grant Thornton regarding accounting principles, practices, or audit scope during the two most recent fiscal years or the interim period. The only "reportable events" were material weaknesses in internal controls over financial reporting previously disclosed in the 2023 Annual Report, which the Company concluded were remediated as of December 31, 2024. Grant Thornton has provided a letter to the SEC agreeing with the statements made in this report.
Investor Verification Checklist
- Verify the status of the "substantial doubt about going concern" opinion issued by Grant Thornton for fiscal years 2024 and 2025.
- Confirm the remediation of previously disclosed material weaknesses in internal controls over financial reporting.
- Review the transition plan and audit scope between the dismissed firm (Grant Thornton) and the new firm (Elliott Davis) following the recent business combination.
- Examine the financial statements of the newly acquired subsidiaries (CCF Holdings and Aaron's) audited by Elliott Davis.