Katapult Holdings, Inc.

Good day and thank you for standing by. Welcome to the Catapult 4th Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you need to press star 1 on your telephone. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Bill Wright, Vice President, Investor Relations. Please go ahead.

Thank you and good morning. Welcome to Catapult's fourth quarter and full year 2021 earnings results and investor update conference call. With me today are Orlando Zayas, Chief Executive Officer, Chris F. Cupidow, Chief Financial Officer, and Derek Menglund, Chief Operating Officer. We issued our earnings release and corresponding investor presentation this morning, and we will be referencing these during the call. Both can be found on the investor relations section of our website. We will be available for Q&A following today's prepared remarks. Before we begin, I would like to remind everyone this call will contain forward-looking statements regarding future events and our financial performance, including statements regarding our market opportunity, the impact of our growth initiatives, and our future financial performance. These should be considered in conjunction with cautionary statements contained in our earnings release and the company's most recent periodic SEC reports. including our Form 10-K for the year ended December 31st, 2021. These statements reflected management's current beliefs, assumptions, and expectations and are subject to a number of factors that may cause actual results to differ materially from those statements. Except as required by law, we undertake no obligation to publicly update or revise any of these statements, whether as a result of any new information, future events, or otherwise. During today's discussion of our financial performance, we will provide certain financial information that constitute non-GAAP financial measures under SEC rules. These include measures such as adjusted EBITDA and adjusted net income. These non-GAAP financial measures should not be considered replacements for and should be read together with our GAAP results. Reconciliations to GAAP measures and certain additional information are also included in today's earnings release, which is available on the investor relations section of our website. This call is being recorded, and a webcast will be available for replay on the investor relations section of our website. I will now turn the call over to Orlando.

Thanks, Bill. Good morning, everyone, and thank you for joining us. On today's call, we'll review our fourth quarter and full year results for 2021. In addition, we're going to provide a deeper dive regarding what we're seeing in the current macro environment, as well as provide an update on our growth strategies. We realize many of you are new or potential investors to Catapult, so we'd like to begin today with a brief overview of what Catapult is all about, starting on slide six. We are a company that first and foremost is focused on bringing financial inclusion to underserved non-prime consumers. At Catapult, we provide an attractive solution for these non-prime consumers to access the essential products they need for everyday living. Our highly scalable proprietary technology enables us to provide both merchants and consumers with a clear, transparent lease purchase solution that facilitates transactions directly at the online checkout or point of sale. Slide 7 details some of the key attributes about Catapult's leading e-commerce lease-to-own platform. We believe that our focus on non-prime consumers positions us to capture a significant share of the large virtual lease-to-own market. Our proprietary technology platform, along with our sophisticated risk and decision modeling, is designed to enable us to deliver value-added solutions to our merchants and consumers. We have a robust suite of merchant solutions across a variety of integrated point of sale options that is designed to enable merchants to efficiently promote and sell incremental inventory. We believe Catapult's seamless customer experience wins repeat customer business due to our simple application process, flexible and transparent payment options, and innovative lease financing solutions. Turning to slide nine, as you can see from these highlights, our team continues to navigate the difficult macro environment for both our merchants and consumers. As we have mentioned on past calls, the current macro challenges, including ongoing supply chain headwinds, the end of government stimulus, and changes in consumer spending continues to impact the consumer and merchant environments. We are confident in our ability to navigate these challenges and remain focused on delivering our long-term objectives to capture new volume opportunities and create value for shareholders. Looking back at 2021, some important takeaways to mention are, number one, fiscal year 2021 revenue grew 23% year over year. Number two, despite the ongoing Macro challenges noted, we added 20 new merchants in the fourth quarter, bringing our total to 102 new merchants in 2021, up 127% from 45 new merchants in 2020. Number three, our satisfaction metrics remain strong. Our net promoter score was 54 as of December 31st, 2021, and has grown to 59 as of the end of February 2022, and repeat customers made up 53% of our Q4 2021 originations. We also have strong merchant retention as demonstrated by our deepening relationships with key merchants during 2021. Number four, we are accelerating our investment in initiatives that support our long-term growth strategy. We are adding critical personnel to our organization to facilitate execution of our strategy, as well as bring new leaders in key areas of growth opportunity. We are planning to invest in strategic product and technology investments initiatives that are designed to enable us to capture more market share. As we build our already solid operating foundation, we believe we're in the initial stages of creating a sizable, durable, and scalable business, which I will discuss in more detail later in the presentation. I will now turn it over to Carissa, our CFO, who will provide more details on our financial performance.