Welcome to our dedicated page for Flexshopper news (Ticker: FPAY), a resource for investors and traders seeking the latest updates and insights on Flexshopper stock.
FlexShopper, Inc. (NASDAQ: FPAY) is a financial technology leader providing lease-to-own solutions through its digital marketplace and retail partnerships. This page serves as the definitive source for verified company news and press releases, offering stakeholders timely updates on strategic developments.
Investors and analysts will find essential information including quarterly earnings reports, partnership announcements, product innovations, and executive leadership updates. Our curated collection simplifies tracking FPAY's market position within the evolving consumer finance sector.
Key content categories include financial performance disclosures, strategic retail collaborations, technology enhancements to its LTO platform, and regulatory filings. All materials are sourced directly from official company communications to ensure accuracy and compliance.
Bookmark this page for streamlined access to FlexShopper's latest business developments. Check back regularly to stay informed about critical updates affecting the lease-to-own financing landscape and FPAY's role in shaping consumer purchasing alternatives.
FlexShopper, Inc. (Nasdaq: FPAY), a national leader in online lease-to-own retail and payment solutions, reported its financial results for Q1 2024, ending March 31. Total revenues rose 10.1% to $33.9 million from $30.8 million, and gross profit increased 30.9% to $17.8 million from $13.6 million. Adjusted EBITDA increased by $1.2 million, reaching $7.6 million from $6.4 million. Operating income saw a 19% rise to $5.0 million from $4.2 million. Despite these gains, the company reported a net loss of $1.3 million, consistent with the previous year's Q1 loss of $1.2 million. Core earnings improved by 64.7% to $354,000 from $215,000. Financial metrics reveal a mixed picture with positive revenue and profit growth, but ongoing net losses.
FlexShopper, Inc. (Nasdaq: FPAY) announced its financial results for Q4 and fiscal year 2022. In Q4, total fundings rose by 11.3% to $33.1 million, despite a 31.1% drop in net lease and loan revenues to $21.4 million. Gross profit decreased by 68.5% to $3.8 million. However, net income soared to $7.9 million due to a $14.5 million gain from a bargain purchase and a $2.7 million tax benefit. For the fiscal year, fundings increased 28.9% to $111.8 million, while net revenues fell 9.9% to $113.1 million, and gross profit declined 19.7% to $37.1 million. The adjusted EBITDA turned negative at $(0.5 million) from $11.4 million. Operationally, FlexShopper acquired Revolution Financial, launching a direct loan origination model across 11 states.
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