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) 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.
FlexShopper, Inc. (Nasdaq: FPAY) has received a standard notice of noncompliance from Nasdaq due to the late filing of its Annual Report on Form 10-K for the year ended December 31, 2022. This notice indicated a breach of Nasdaq Listing Rule 5250(c)(1), requiring timely filing of all periodic financial reports with the SEC.
However, FlexShopper believes that the submission of the Form 10-K on April 24, 2023, has restored its compliance with the Nasdaq listing requirements. FlexShopper is a financial technology company that offers lease-to-own solutions for durable goods through its e-commerce platform, catering to underserved consumers.
FlexShopper, Inc. (Nasdaq: FPAY) announced the acquisition of assets from Revolution Financial Inc. and its affiliates, marking a strategic move into nationwide direct-to-consumer physical locations. This deal includes 22 physical stores and 78 virtual locations within Liberty Tax stores, enhancing FlexShopper's capacity to offer consumer financing solutions. CEO Richard House stated this acquisition facilitates the rollout of their partnership with Liberty Tax. Further details will be shared during the 2022 year-end results conference call.
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