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Overview of FlexShopper, Inc. (NASDAQ: FPAY)
FlexShopper, Inc. is a prominent financial technology company specializing in lease-to-own (LTO) solutions, catering to consumers who face challenges accessing traditional credit. Headquartered in Boca Raton, Florida, FlexShopper operates through a dual-channel strategy: a direct-to-consumer (DTC) e-commerce marketplace and a business-to-business (B2B) partnership model. The company’s innovative payment solutions empower underserved consumers to obtain durable goods, such as electronics, appliances, furniture, and automotive parts, through flexible leasing options tailored to their financial situations.
Business Model and Revenue Streams
FlexShopper’s primary revenue streams are derived from its proprietary LTO platform, which facilitates transactions between consumers and merchants, and from its e-commerce marketplace at FlexShopper.com. The platform enables consumers to lease brand-name products while offering merchants upfront payments for goods sold, effectively mitigating retailer risk. Additionally, FlexShopper licenses its LTO technology to third-party retailers and e-tailers, allowing them to integrate flexible payment options into their sales channels. This B2B service broadens the company’s reach and enhances its revenue diversification.
Core Offerings
- Direct-to-Consumer Marketplace: FlexShopper.com offers over 80,000 products across categories like electronics, home appliances, furniture, and automotive essentials. The marketplace simplifies the leasing process through an easy-to-navigate platform.
- Retailer Partnerships: FlexShopper collaborates with both online and brick-and-mortar retailers, integrating its LTO payment solutions into their sales processes. This enables retailers to attract a broader customer base, including credit-constrained consumers.
- Technology Licensing: Retailers and e-tailers can leverage FlexShopper’s patent-pending LTO technology to enhance their payment offerings, driving higher sales conversions and customer satisfaction.
Market Position and Industry Significance
FlexShopper operates in the rapidly growing financial technology sector, addressing the needs of the underbanked and credit-constrained population in the United States. By offering flexible payment options, the company bridges the gap between consumers and durable goods, fostering financial inclusivity. Its partnerships with major retailers and e-commerce platforms further solidify its market presence, making it a key player in the LTO and alternative financing space.
Competitive Landscape
FlexShopper faces competition from traditional financing institutions, other LTO providers, and buy-now-pay-later (BNPL) platforms. However, its proprietary technology, extensive product catalog, and dual-channel approach provide a competitive edge. The company’s ability to integrate seamlessly with retailer systems and its focus on underserved credit tiers differentiate it from competitors.
Challenges and Opportunities
While FlexShopper’s business model addresses a critical market need, it also faces challenges such as regulatory compliance, credit risk management, and competition from emerging fintech solutions. However, its ongoing expansion into new retail partnerships and product categories presents significant growth opportunities. By leveraging its technology and market insights, FlexShopper is well-positioned to adapt to evolving consumer and retailer demands.
Conclusion
FlexShopper, Inc. exemplifies innovation in financial technology, offering accessible payment solutions that benefit both consumers and retailers. Its lease-to-own model, supported by a robust technology platform, addresses a vital market gap, making it a valuable player in the alternative financing industry.
FlexShopper, Inc. (Nasdaq: FPAY) announced the release of its third quarter financial results for the period ending September 30, 2021, scheduled for November 15, 2021, after market closure. The company will discuss these results in a conference call on November 16, 2021, at 9:00 a.m. ET. Domestic callers can reach the call at 877-407-3944 and international callers at 412-902-0038. The call can also be accessed via webcast on the company's website, with a replay available post-event.
FlexShopper, Inc. (FPAY) reported a robust Q2 2021, with net revenues increasing by 25.1% to $30.7 million. The company originated 38,531 gross leases, a 13.5% rise year-over-year. Gross profit surged by 51% to $11.1 million, while net income reached $0.9 million, marking a turnaround from a net loss of $(262) thousand in 2020. The lease merchandise net value rose 44.3% to $37.6 million. FlexShopper plans further expansion of its pilot programs and co-branded websites, focusing on repeat customer activity.
FlexShopper, Inc. (FPAY) plans to announce its second-quarter financial results on August 9, 2021, after market close. A conference call is scheduled for August 10, 2021, at 9:00 a.m. ET, where the results will be discussed. FlexShopper is known for its lease-to-own retail services and aims to provide financial technology solutions to consumers lacking sufficient cash or credit. Investors can access the call via phone or by webcast through the company's website.
FlexShopper (FPAY) reported Q1 2021 net revenues of $32.8 million, a 31.9% increase from $24.8 million last year. Gross lease originations rose 21.7% to $20.9 million. The average origination value increased to $532. Gross profit improved by 28% to $10.3 million. However, the company faced a net loss of $608,000, contrasting with a net income of $51,000 in the prior year. Adjusted EBITDA increased to $2.4 million, up 22.1%. Lease merchandise, net, also grew 31.4% to $39.3 million. The CEO noted positive customer payment behavior, influenced by government stimulus programs.
FlexShopper, Inc. (Nasdaq: FPAY) announced its intention to release Q1 2021 financial results on May 10, 2021, after market close. A conference call is scheduled for May 11, 2021, at 9:00 a.m. ET to discuss these results. FlexShopper specializes in lease-to-own (LTO) retail solutions, providing access to durable goods like electronics and home furnishings via an e-commerce platform. The upcoming results may offer insights into the company’s financial health and growth in the LTO market.
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.
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