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. provides lease-to-own payment solutions and lending products for consumers through the FlexShopper.com direct marketplace and merchant partnerships online and in physical retail locations. Company news centers on originations, application volume, customer acquisition, asset quality, product margins, and the expansion of retail financing relationships.
Updates also cover capital actions such as rights offering proceeds and debt repayment, board changes, annual and quarterly results, and Nasdaq listing-compliance notices related to delayed SEC reports.
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.