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- Going Concern (new) — The outgoing auditor's reports for both 2024 and 2025 included a going-concern warning, meaning the auditor had substantial doubt about Katapult's ability to continue operating.
- Material Weakness (new) — The filing discloses that material weaknesses in internal controls over financial reporting existed as of the 2023 Form 10-K, though the company states they were remediated by December 31, 2024.
Katapult dismisses Grant Thornton, hires Elliott Davis as auditor amid going-concern history
Filed September 4, 2026 · Period ending September 2, 2026 · ~1 min read
Key Changes
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high
Audit Committee dismissed Grant Thornton as independent auditor effective Sept 2, 2026, citing no disagreements on accounting principles or auditing scope.
Item 4.01 verify on EDGAR → -
high
Elliott Davis, PLLC appointed as new independent auditor effective immediately; firm previously audited Katapult subsidiaries CCFI and Aaron's.
Item 4.01 verify on EDGAR → -
high
Grant Thornton's audit reports for fiscal 2024 and 2025 each included a going-concern explanatory paragraph expressing substantial doubt about Katapult's ability to continue.
Item 4.01 verify on EDGAR → -
medium
Material weaknesses in internal controls over financial reporting disclosed in 2023 Form 10-K; company states they were remediated as of Dec 31, 2024.
Item 4.01 verify on EDGAR →
Summary
Katapult Holdings replaced its independent auditor on September 2, 2026, dismissing Grant Thornton and immediately engaging Elliott Davis, PLLC. The company stated there were no disagreements with Grant Thornton on accounting principles, financial statement disclosures, or auditing scope or procedures.
Elliott Davis had previously served as auditor for CCFI and Aaron's, which became wholly owned subsidiaries of Katapult following the August 11, 2026 business combination. The change carries significant weight for investors because Grant Thornton's audit reports for fiscal years 2024 and 2025 each included an explanatory paragraph expressing substantial doubt about Katapult's ability to continue as a going concern.
That warning, now attached to the outgoing auditor's tenure, signals ongoing financial viability concerns that the new auditor will need to assess. Additionally, the filing discloses that material weaknesses in internal controls over financial reporting existed as of the 2023 Form 10-K, related to personnel with appropriate U.S. GAAP knowledge and controls over journal entries and account reconciliations. The company states these weaknesses were remediated as of December 31, 2024, but the disclosure remains a point of scrutiny. For retail holders, the auditor change itself is a governance event, but the going-concern history and prior internal-control weaknesses are the substantive concerns. The new auditor's first assessment of Katapult's financial condition and controls will be a key indicator of whether the company has stabilized its financial position.
Section-by-Section Diff
Event · Item 4.01 — Changes in Registrant's Certifying Accountant
Item 4.01 — Changes in Registrant's Certifying Accountant filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On September 2, 2026, the Audit Committee of the Board of Directors (the “Committee”) of Katapult Holdings, Inc. (the “Company”) approved the dismissal of Grant Thornton LLP (“Grant Thornton”) as the Company’s independent registered public accounting firm, effective immediately.
Katapult's Audit Committee dismissed Grant Thornton as its independent auditor, effective immediately on September 2, 2026. The filing states there were no disagreements with Grant Thornton on accounting principles, financial statement disclosure, or auditing scope or procedures during the relevant periods.
Added in current filing · verify on EDGAR →
except for the material weaknesses in internal controls over financial reporting previously disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, relating to personnel with appropriate U.S. GAAP knowledge and experience and controls over journal entries and account reconciliations, which the Company concluded had been remediated as of December 31, 2024.
The filing discloses that material weaknesses in internal controls over financial reporting existed as of the 2023 Form 10-K, related to personnel with appropriate U.S. GAAP knowledge and controls over journal entries and account reconciliations. The company states these were remediated as of December 31, 2024.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 4, 2026 · How we verify