2024 Q2 Form 10-K Financial Statement

#000162828024017691 Filed on April 24, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2023 Q4 2023
Revenue $58.86M $56.09M $221.6M
YoY Change 7.86% 14.83% 4.47%
Cost Of Revenue $48.94M $51.40M $179.9M
YoY Change 11.54% 29.33% 5.12%
Gross Profit $9.928M $4.696M $41.71M
YoY Change -7.19% -48.44% 1.76%
Gross Profit Margin 16.87% 8.37% 18.82%
Selling, General & Admin $15.34M $46.80M
YoY Change 18.32% -7.4%
% of Gross Profit 326.58% 112.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $34.70M $36.09M $126.5M
YoY Change 13.29% 32.52% 8.77%
% of Gross Profit 349.56% 768.59% 303.39%
Operating Expenses $12.55M $18.94M $60.50M
YoY Change -8.26% 14.52% -8.46%
Operating Profit -$2.621M -$14.24M -$18.79M
YoY Change -12.11% 91.68% -25.15%
Interest Expense -$4.315M -$3.908M $17.82M
YoY Change -205.3% -50.31% -10.88%
% of Operating Profit
Other Income/Expense, Net $109.0K $36.00K $807.0K
YoY Change -57.59% -94.43% -87.47%
Pretax Income -$6.827M -$18.12M -$36.50M
YoY Change 6.74% 23.66% -3.74%
Income Tax $61.00K $112.0K $165.0K
% Of Pretax Income
Net Earnings -$6.888M -$18.23M -$36.67M
YoY Change 7.46% 26.35% -3.18%
Net Earnings / Revenue -11.7% -32.5% -16.55%
Basic Earnings Per Share -$1.61 -$8.97
Diluted Earnings Per Share -$1.61 -$4.37 -$8.97
COMMON SHARES
Basic Shares Outstanding 4.086M shares 4.065M shares 4.088M shares
Diluted Shares Outstanding 4.286M shares 4.088M shares

Balance Sheet

Concept 2024 Q2 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $33.73M $21.41M $21.41M
YoY Change -11.78% -67.28% -67.28%
Cash & Equivalents $33.73M $21.41M
Short-Term Investments
Other Short-Term Assets $65.03M $71.23M $71.23M
YoY Change 1.32% 12.7% 12.7%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $103.8M $97.64M $97.64M
YoY Change 1.31% -24.1% -24.1%
LONG-TERM ASSETS
Property, Plant & Equipment $1.023M $1.215M $1.215M
YoY Change -2.11% -8.58% -8.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $91.00K $91.00K $91.00K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $2.881M $3.225M $3.225M
YoY Change -8.74% -1.29% -1.29%
TOTAL ASSETS
Total Short-Term Assets $103.8M $97.64M $97.64M
Total Long-Term Assets $2.881M $3.225M $3.225M
Total Assets $106.6M $100.9M $100.9M
YoY Change 1.01% -23.53% -23.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.455M $903.0K $903.0K
YoY Change 49.38% -28.56% -28.56%
Accrued Expenses $22.61M $24.15M $36.44M
YoY Change 55.01% 66.16% 144.35%
Deferred Revenue
YoY Change
Short-Term Debt $69.47M $0.00 $0.00
YoY Change
Long-Term Debt Due $27.61M $0.00 $0.00
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $139.0M $42.30M $42.30M
YoY Change 678.53% -1.02% -1.02%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $85.85M $85.85M
YoY Change -100.0% 6.39% 6.39%
Other Long-Term Liabilities $148.0K $95.00K $709.0K
YoY Change -71.15% -89.47% -47.36%
Total Long-Term Liabilities $148.0K $95.00K $86.56M
YoY Change -71.15% -89.47% 5.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $139.0M $42.30M $42.30M
Total Long-Term Liabilities $148.0K $95.00K $86.56M
Total Liabilities $139.6M $128.9M $128.9M
YoY Change 31.87% 3.27% 3.27%
SHAREHOLDERS EQUITY
Retained Earnings -$130.0M -$122.5M
YoY Change 40.99% 59.81%
Common Stock $0.00 $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$32.95M -$27.99M -$27.99M
YoY Change
Total Liabilities & Shareholders Equity $106.6M $100.9M $100.9M
YoY Change 1.01% -23.53% -23.53%

Cashflow Statement

Concept 2024 Q2 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$6.888M -$18.23M -$36.67M
YoY Change 7.46% 26.35% -3.18%
Depreciation, Depletion And Amortization $34.70M $36.09M $126.5M
YoY Change 13.29% 32.52% 8.77%
Cash From Operating Activities -$628.0K -$9.694M -$17.41M
YoY Change -88.88% -49.8% -16.47%
INVESTING ACTIVITIES
Capital Expenditures $211.0K $214.0K $20.00K
YoY Change -3.21% 55.07% -88.1%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$211.0K -$214.0K -$974.0K
YoY Change -3.21% 55.07% -35.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.642M -152.0K -$22.64M
YoY Change -33.92% -101.97% 434.39%
NET CHANGE
Cash From Operating Activities -628.0K -9.694M -$17.41M
Cash From Investing Activities -211.0K -214.0K -$974.0K
Cash From Financing Activities 1.642M -152.0K -$22.64M
Net Change In Cash 803.0K -10.06M -$41.03M
YoY Change -123.77% -14.26% 54.31%
FREE CASH FLOW
Cash From Operating Activities -$628.0K -$9.694M -$17.41M
Capital Expenditures $211.0K $214.0K $20.00K
Free Cash Flow -$839.0K -$9.908M -$17.43M
YoY Change -85.69% -49.06% -17.04%

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CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-361000 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-765000 usd
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4419000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3968000 usd
CY2023 kplt Increase Decrease In Settlement Liabilities
IncreaseDecreaseInSettlementLiabilities
12000000 usd
CY2022 kplt Increase Decrease In Settlement Liabilities
IncreaseDecreaseInSettlementLiabilities
0 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-387000 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-413000 usd
CY2023 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
765000 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-467000 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17414000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-20848000 usd
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
168000 usd
CY2023 us-gaap Payments For Software
PaymentsForSoftware
954000 usd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
1337000 usd
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-974000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1505000 usd
CY2023 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
14297000 usd
CY2022 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
18517000 usd
CY2023 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
11551000 usd
CY2022 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
22477000 usd
CY2023 us-gaap Repayments Of Debt
RepaymentsOfDebt
25000000 usd
CY2022 us-gaap Repayments Of Debt
RepaymentsOfDebt
0 usd
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
34000 usd
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
0 usd
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
355000 usd
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
344000 usd
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000 usd
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
67000 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-22642000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4237000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-41030000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26590000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69841000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96431000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28811000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69841000 usd
CY2023 us-gaap Interest Paid Net
InterestPaidNet
13014000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
12032000 usd
CY2023 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
206000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
446000 usd
CY2023 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
481000 usd
CY2022 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0 usd
CY2023 kplt Warrants Issued
WarrantsIssued
4060000 usd
CY2022 kplt Warrants Issued
WarrantsIssued
0 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
471000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1139000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
513000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
511000 usd
CY2022Q4 kplt Property Subject To Or Available For Operating Lease Net Current
PropertySubjectToOrAvailableForOperatingLeaseNetCurrent
48844000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8100000 usd
CY2022Q4 us-gaap Assets Current
AssetsCurrent
126785000 usd
CY2022Q4 us-gaap Assets
Assets
130052000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19246000 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
4183000 usd
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
50075000 usd
CY2022Q4 us-gaap Liabilities
Liabilities
132118000 usd
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-85870000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-2066000 usd
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
130052000 usd
CY2022 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
205371000 usd
CY2022 us-gaap Revenues
Revenues
209497000 usd
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
172092000 usd
CY2022 us-gaap Gross Profit
GrossProfit
37405000 usd
CY2022 us-gaap Professional Fees
ProfessionalFees
10539000 usd
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14288000 usd
CY2022 us-gaap Litigation Settlement Expense
LitigationSettlementExpense
375000 usd
CY2022 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
65846000 usd
CY2022 us-gaap Operating Income Loss
OperatingIncomeLoss
-28441000 usd
CY2022 us-gaap Interest Expense
InterestExpense
19264000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-40522000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-40472000 usd
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-10.30
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-10.30
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-40472000 usd
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
116835000 usd
CY2022 kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
30576000 usd
CY2022 kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
17575000 usd
CY2022 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
4541000 usd
CY2022 kplt Increase Decrease In Property Held For Lease
IncreaseDecreaseInPropertyHeldForLease
151345000 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3730000 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
3968000 usd
CY2022 us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-467000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-20848000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Use of Estimates</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— The preparation of the consolidated financial statements in accordance with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of income and expense during the reporting periods. The most significant estimates relate to the selection of useful lives of property and equipment, the selection of useful lives for property held for lease and the related depreciation method,</span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> determination of fair value of stock option grants, and the valua</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">tion allowance associated with deferred tax assets. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the consolidated financial statements; therefore, actual results could differ from those estimates.</span></div>
CY2023 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease After Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseAfterAccumulatedDepreciation
327000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
21408000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
65430000 usd
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
7403000 usd
CY2022Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
4411000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
28811000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69841000 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2023 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Rental Revenue</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— Our lease-to-own agreements, which comprise the majority of our revenue, fall within the scope of ASC 842, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leases</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> under lessor accounting and we are recognizing revenue from customers when revenue is earned and cash is collected. </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pro</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">perty held for lease is leased to customers pursuant to lease purchase agreements with an initial term: typically one week, two weeks, or one month, with non-refundable lease payments. Generally, the customer has the right to acquire title either through a 90-day promotional pricing option, an early purchase option (buyout) available prior to completion of the full agreement, or by completing all lease renewal payments, generally 10 to 18 months. On any current lease, customers have the option to terminate the agreement at any time without penalty in accordance with lease term. Accordingly, lease-purchase agreements are accounted for as operating leases under ASC 842, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Leases </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">with lease revenues recognized in the period they are earned and cash is collected. Amounts received from customers who elect early purchase options (buyouts) are included in rental revenue. Lease payments received prior to their due dates are deferred and recorded as unearned revenue and are recognized as rental revenue in the month in which the revenue is earned. Rental revenue also includes agreed-upon charges assessed for customer lease applications. Payments are received upon submission of the applications and execution of the lease-purchase agreements. Services are considered to be rendered and revenue earned over the initial lease term. </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Revenues from leases from our direct integrations are reported net of sales taxes. For our direct integration transactions, we collect sales tax from each customer's lease payment and set up a sales tax payable for remittance to the respective state. For our Katapult Pay transactions, the merchant partner is funded the amount of the purchased goods including sales tax which is capitalized as part of the investment and included in property held for lease and is depreciated into cost of revenue. Revenue is recognized for our Katapult Pay transactions on gross basis when lease payments are received from customers, which includes sales tax.</span></div>
CY2023 kplt Proceeds From Sale Of Property Subject To Or Available For Operating Lease
ProceedsFromSaleOfPropertySubjectToOrAvailableForOperatingLease
2846000 usd
CY2022 kplt Proceeds From Sale Of Property Subject To Or Available For Operating Lease
ProceedsFromSaleOfPropertySubjectToOrAvailableForOperatingLease
3980000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2023Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Concentrations of Credit Risk</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">— Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash. The Company’s cash balances exceed those that are federally insured. To date, the Company has not recognized any losses caused by uninsured balances. As of December 31, 2023, the Company also did not have any customers that accounted for 10% or more of outstanding gross accounts receivable.</span></div>Significant customers are those which represent more than 10% of the Company’s total revenue or gross accounts receivable balance at each balance sheet date.
CY2022Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease Before Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseBeforeAccumulatedDepreciation
1245000 usd
CY2023Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseAccumulatedDepreciation
938000 usd
CY2022Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseAccumulatedDepreciation
688000 usd
CY2022Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
11172000 usd
CY2023Q4 kplt Unfunded Lease Payable Current
UnfundedLeasePayableCurrent
3578000 usd
CY2022Q4 kplt Unfunded Lease Payable Current
UnfundedLeasePayableCurrent
3283000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
140000 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
118000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1718000 usd
CY2023Q4 kplt Property Subject To Or Available For Operating Lease Gross Current
PropertySubjectToOrAvailableForOperatingLeaseGrossCurrent
290808000 usd
CY2022Q4 kplt Property Subject To Or Available For Operating Lease Gross Current
PropertySubjectToOrAvailableForOperatingLeaseGrossCurrent
296351000 usd
CY2023Q4 kplt Property Subject To Or Available For Operating Lease Accumulated Depreciation Current
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciationCurrent
231473000 usd
CY2022Q4 kplt Property Subject To Or Available For Operating Lease Accumulated Depreciation Current
PropertySubjectToOrAvailableForOperatingLeaseAccumulatedDepreciationCurrent
247507000 usd
CY2023Q4 kplt Property Subject To Or Available For Operating Lease Net Current
PropertySubjectToOrAvailableForOperatingLeaseNetCurrent
59335000 usd
CY2022Q4 kplt Property Subject To Or Available For Operating Lease Net Current
PropertySubjectToOrAvailableForOperatingLeaseNetCurrent
48844000 usd
CY2023 kplt Property Subject To Or Available For Operating Lease Depreciation
PropertySubjectToOrAvailableForOperatingLeaseDepreciation
125401000 usd
CY2022 kplt Property Subject To Or Available For Operating Lease Depreciation
PropertySubjectToOrAvailableForOperatingLeaseDepreciation
116102000 usd
CY2023 kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
25784000 usd
CY2022 kplt Property Subject To Or Available For Operating Lease Property Buyouts Net Lessor Asset Under Operating Lease
PropertySubjectToOrAvailableForOperatingLeasePropertyBuyoutsNetLessorAssetUnderOperatingLease
30576000 usd
CY2023 kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
22019000 usd
CY2022 kplt Property Subject To Or Available For Operating Lease Impairment Charge
PropertySubjectToOrAvailableForOperatingLeaseImpairmentCharge
17575000 usd
CY2023 kplt Property Subject To Or Available For Operating Lease Other
PropertySubjectToOrAvailableForOperatingLeaseOther
6677000 usd
CY2022 kplt Property Subject To Or Available For Operating Lease Other
PropertySubjectToOrAvailableForOperatingLeaseOther
7839000 usd
CY2023 us-gaap Cost Of Revenue
CostOfRevenue
179881000 usd
CY2022 us-gaap Cost Of Revenue
CostOfRevenue
172092000 usd
CY2023Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease Before Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseBeforeAccumulatedDepreciation
1265000 usd
CY2022Q4 us-gaap Property Plant And Equipment Excluding Lessor Asset Under Operating Lease After Accumulated Depreciation
PropertyPlantAndEquipmentExcludingLessorAssetUnderOperatingLeaseAfterAccumulatedDepreciation
557000 usd
CY2023 us-gaap Depreciation Excluding Lessor Asset Under Operating Lease
DepreciationExcludingLessorAssetUnderOperatingLease
250000 usd
CY2022 us-gaap Depreciation Excluding Lessor Asset Under Operating Lease
DepreciationExcludingLessorAssetUnderOperatingLease
187000 usd
CY2023Q4 kplt Finite Lived Intangible Assets Gross Including Capitalized Software Not Yet Placed In Service
FiniteLivedIntangibleAssetsGrossIncludingCapitalizedSoftwareNotYetPlacedInService
3561000 usd
CY2022Q4 kplt Finite Lived Intangible Assets Gross Including Capitalized Software Not Yet Placed In Service
FiniteLivedIntangibleAssetsGrossIncludingCapitalizedSoftwareNotYetPlacedInService
2607000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1642000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
760000 usd
CY2023Q4 kplt Finite Lived Intangible Assets Net Including Capitalized Software Not Yet Placed In Service
FiniteLivedIntangibleAssetsNetIncludingCapitalizedSoftwareNotYetPlacedInService
1919000 usd
CY2022Q4 kplt Finite Lived Intangible Assets Net Including Capitalized Software Not Yet Placed In Service
FiniteLivedIntangibleAssetsNetIncludingCapitalizedSoftwareNotYetPlacedInService
1847000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
882000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
545000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
784000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
408000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
130000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1322000 usd
CY2023Q4 kplt Capitalized Computer Software Not Yet Placed In Service
CapitalizedComputerSoftwareNotYetPlacedInService
581000 usd
CY2022Q4 kplt Capitalized Computer Software Not Yet Placed In Service
CapitalizedComputerSoftwareNotYetPlacedInService
398000 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
4183000 usd
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
2376000 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
14527000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2297000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
24146000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
19246000 usd
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-2391000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
384000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
275000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
108000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
111000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
114000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
302000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1294000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
383000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
911000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
297000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
614000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
911000 usd
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
565000 usd
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
532000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y2M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.12
CY2023 kplt Share Based Compensation Arrangement By Share Based Payment Award Number Of Plans
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfPlans
2 plan
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
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CY2023 dei Auditor Firm
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CY2022 dei Auditor Firm
AuditorFirmId
34

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kplt-20231231_lab.xml Edgar Link unprocessable
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