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 leading financial technology company specializing in lease-to-own (LTO) solutions for consumers and retailers. As a wholly owned subsidiary, FlexShopper, LLC, operates an extensive e-commerce marketplace (www.flexshopper.com) that offers over 80,000 brand-name durable goods ranging from electronics and furniture to musical instruments and appliances.
FlexShopper provides consumers with three convenient ways to lease brand-name items: through its own e-commerce platform, via third-party e-commerce sites that feature FlexShopper's LTO payment methods, and directly in retail stores. The company's innovative technology not only facilitates these transactions but also ensures seamless integration for retailers and e-tailers looking to offer LTO options to customers who may lack sufficient cash or credit.
FlexShopper's business model involves funding these LTO transactions by paying merchants upfront for the goods, then collecting payments from consumers under LTO contracts. This approach enables a broader range of consumers to access high-quality products while offering retailers a secure and guaranteed payment solution.
In recent years, FlexShopper has achieved significant milestones, including expanding its product range and enhancing its proprietary LTO technology platforms, which are now utilized by an increasing number of retail partners. Financially, the company has shown strong performance metrics and continues to focus on growth and customer satisfaction.
FlexShopper regularly updates its investor relations with conference calls and webcasts, providing key performance metrics and financial results. For example, the next scheduled conference call is set for Tuesday, April 2, 2024, at 8:30 a.m. ET to discuss Q4 and year-end results.
For more information on FlexShopper, visit the official website or contact their investor relations at ir@flexshopper.com.
FlexShopper, Inc. (FPAY) reported Q3 2022 financial results revealing a 60.1% increase in total fundings to $25.8 million, though net lease revenues decreased 20.3% to $24.5 million. Despite gross lease originations slightly declining from $15.9 million to $15.7 million, loan participations surged 4,350% to $10.1 million. The company faced a 49.8% drop in gross profit to $6.4 million and reported a net loss of $(6.3 million), or $(0.32) per share. For the first nine months of 2022, total fundings rose 38.3% to $78.9 million, while net income reached $5.7 million.
FlexShopper, Inc. (Nasdaq: FPAY) will announce its third-quarter financial results on November 10, 2022, after market close. A conference call to discuss the results is scheduled for November 11 at 9:30 a.m. ET. Investors can participate via dial-in numbers or access the call on the company’s website. FlexShopper specializes in lease-to-own (LTO) retailing, providing consumers with access to durable goods through its e-commerce platform. The company's proprietary model screens consumers and facilitates LTO transactions by paying merchants directly.
FlexShopper, Inc. (Nasdaq: FPAY) has announced a long-term marketing partnership with Liberty Tax, allowing the company to offer consumer loans at Liberty Tax's 2,700 locations and through its digital platforms. This collaboration aims to enhance FlexShopper's omni-channel financing solutions by providing lease-to-own products and other financing alternatives in these outlets. CEO Richard House emphasized the potential for rapid growth through this strategic alliance, which will be discussed in more detail during the upcoming third-quarter conference call.
FlexShopper, Inc. (FPAY) reported strong financial results for Q2 2022, with total fundings soaring 64.5% to $32.8 million. Gross profit rose 58.2% to $17.5 million, and adjusted EBITDA increased significantly to $6.4 million from $2.1 million. Net income reached $14.4 million, a dramatic increase year-over-year. Despite the positive trends in loan participations, total net lease revenues and fees saw a slight decrease of 0.6% to $30.5 million. The company attributed growth to enhanced omni-channel capabilities and new sales initiatives amid economic challenges.
FlexShopper, Inc. (FPAY) plans to release its second quarter financial results on August 10, 2022, post-market closure. A conference call is scheduled for August 11, 2022, at 9:00 a.m. ET to discuss these results.
The call will be accessible via telephone for domestic (877-407-2988) and international callers (201-389-0923) and streamed live on the company's website. FlexShopper specializes in lease-to-own solutions for consumer goods through its e-commerce platform.
FlexShopper, Inc. (FPAY) reported Q1 2022 financial results with total fundings slightly up by 1% to $21.2 million. Gross lease originations fell by 22% to $16.3 million, while loan participations surged almost 5000% to $4.9 million. Net lease revenues decreased by 15.2% to $27.8 million, and gross profit fell 8.7% to $9.4 million. Adjusted EBITDA turned negative at $(40.3) thousand, compared to a positive $2.4 million in the previous year. The company posted a net loss of $2.4 million, or $(0.14) per diluted share.
FlexShopper, Inc. (Nasdaq:FPAY) will release its financial results for Q1 2022 on May 12, 2022, after market close. A conference call to discuss the results is scheduled for May 13, 2022, at 9:00 a.m. ET. The call will be available by phone for both domestic and international participants and can also be accessed via a webcast on the company's investor website. FlexShopper specializes in lease-to-own retailing and payment solutions, providing consumers access to electronics and furniture through flexible payment plans.
FlexShopper reported a 22.9% increase in net revenues for FY 2021, totaling $125.4 million, with a net income of $3.3 million. The fourth quarter saw revenues rise 10.5% to $31.1 million and a net income of $633 thousand, improving from a loss in 2020. However, lease originations declined 28.4% year-over-year while the average origination value grew 13.6%. The company anticipates adding over 500 retail partner locations in 2022 and expects continued growth in Adjusted EBITDA.
FlexShopper, Inc. (Nasdaq:FPAY) announced it will release its financial results for the fourth quarter and year ended December 31, 2021, after market close on March 30, 2022. A conference call is scheduled for March 31, 2022, at 9:00 a.m. ET to discuss these results. FlexShopper operates as an online lease-to-own retailer providing various consumer goods through its e-commerce platform. They utilize a proprietary consumer screening model to facilitate transactions for customers lacking sufficient cash or credit.
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