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. (FPAY) news covers a financial technology company that operates as a national online lease-to-own retailer and payment solutions provider. The company focuses on offering lease-to-own and lending products to underserved consumers through its direct marketplace and partnerships with merchants at online and brick-and-mortar locations. News about FlexShopper often highlights developments in its payment options, marketplace performance, and merchant relationships, as well as updates on its financing arrangements and capital structure.
Recent press releases have described growth in lease originations, expansion of FlexShopper’s lease-to-own offerings across thousands of locations, and business updates tied to its direct-to-consumer and business-to-business strategies. Coverage also includes information on rights offerings and related capital-raising transactions, where the company has sought to equitize portions of its debt and preferred stock and adjust its borrowing under credit facilities. These items provide context on how FlexShopper funds its lease and loan portfolios and manages its balance sheet.
FlexShopper’s news flow also reflects significant regulatory and listing-related events. The company has announced Nasdaq deficiency notices related to delayed SEC filings and minimum bid price requirements, as well as a subsequent Nasdaq decision to initiate a process to delist its common stock due to filing delinquencies. In addition, news items have discussed an independent investigation into alleged misrepresentations connected to past financial statements, the conclusion that certain prior financial reports should not be relied upon, and the company’s stated intention to complete delayed filings.
Governance and leadership changes, such as board appointments and resignations, executive transitions, and the engagement of a chief restructuring officer, are also common themes in FlexShopper’s news releases. Investors and observers who follow FPAY news can review these updates to understand how the company’s payment solutions business, financing relationships, and regulatory status are evolving over time.
FlexShopper, Inc. (FPAY) reported a 25.3% increase in net revenues for Q4 2020, reaching $28.1 million compared to $22.4 million in Q4 2019. Lease merchandise increased by 37.8% to $42.8 million. Despite the growth, the company experienced a net loss of $(419) thousand, improved from a net loss of $(1.0) million in the prior year. Adjusted EBITDA rose to $2.6 million. The company noted strong origination growth continuing into 2021 with a 23% increase in January and February. The pilot program with a national retailer expanded to four states, enhancing growth prospects.
FlexShopper, Inc. (Nasdaq: FPAY) has announced plans to release its financial results for Q4 and the fiscal year ending December 31, 2020, after market close on March 8, 2021. A conference call to discuss these results is scheduled for March 9, 2021, at 9:00 a.m. ET. Domestic callers can join at 877-407-3944, while international callers may dial 412-902-0038. The call will be webcast via the Company’s investor section online, with an audio replay available afterward.
FlexShopper, Inc. (FPAY) announced its financial results for Q3 2020, reporting a 5.0% increase in net lease revenues to $23.4 million and a 29.5% rise in gross leases to 47,317. However, net income dropped to $289,000 from $1.4 million year-over-year. Adjusted EBITDA fell by 33.9% to $2.1 million. For the nine-month period, revenues grew by 9.4% to $69.9 million, while the net loss attributable to common stockholders was $(2.4 million).
Overall, despite growth in originations, net income and adjusted EBITDA showed a concerning decline.
FlexShopper (Nasdaq: FPAY) will release its third-quarter financial results for the period ending September 30, 2020, after market close on November 9, 2020. A conference call will follow on November 10, 2020, at 9:00 a.m. ET to discuss the results. The call will be available via webcast on FlexShopper's website. The company provides lease-to-own payment solutions for durable goods through its e-commerce platform.
FlexShopper, Inc. (FPAY) reported strong financial results for Q2 2020, with net lease revenues rising 15.1% to $22.9 million compared to the previous year. Gross lease originations increased by 16.0% to 33,941. The company achieved a gross profit of $7.4 million, marking a 25.8% increase. Adjusted EBITDA grew to $2.0 million, up from $1.8 million. Despite these gains, FlexShopper recorded a net loss of $(0.9 million), slightly better than last year's $(0.9 million), with losses per share at $(0.04). Retail activities improved but remained below pre-COVID levels as delays from the pandemic impacted planned retailer rollouts.
FlexShopper, Inc. (FPAY) plans to announce its financial results for Q2 2020 on August 10, 2020, after market close. The financial results will be discussed in a conference call on August 11, 2020, at 9:00 a.m. ET, available for domestic callers at 877-407-3944 and international callers at 412-902-0038. The call will also be accessible via webcast on FlexShopper's website. This release highlights the company's ongoing commitment to transparency and investor engagement as it continues to grow its online lease-to-own retail platform.
FlexShopper, Inc. (Nasdaq: FPAY) announced Q1 2020 financial results, reporting net lease revenues of $23.7 million, up 8.8% from $21.8 million in Q1 2019. Gross lease originations increased 21.9% to $17.2 million. However, net income dropped to $52,000 from $504,000, while net loss attributable to common shareholders rose to $(1.2) million. The company withdrew its 2020 financial guidance due to uncertainties from COVID-19. Despite these challenges, FlexShopper noted consistent payments activity and plans to adjust marketing strategies as necessary.