FlexShopper Inc (OQ:FPAY)
Business Focus: E-commerce & Auction Services
| Sector: Technology | Industry: Internet Services |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 2700 N. MILITARY TRAIL SUITE 200 10801 Johnston Road, Suite 210 BOCA RATON FL 33431 |
| Tel: | N/A |
| Website: | https://www.flexshopper.com |
| IR: | See website |
| Key People | ||
| Howard S. Dvorkin Chairman of the Board | H. Russell Heiser Chief Executive Officer, Chief Financial Officer | John Davis Chief Operating Officer |
| Business Overview |
| FlexShopper, Inc. is a financial technology company that provides payment options to consumers. The Company provides a variety of funding options via lease-purchase solutions and loans. It has several channels, which generate payment options for customers. The Company enables consumers to use its e-commerce marketplace to shop for brand name electronics, home furnishings and other durable goods on a lease-to-own (LTO) basis. It provides an opportunity to obtain ownership of durable products, such as consumer electronics, home appliances, computers (including tablets and wearables), smartphones, tires, jewelry and furniture (including accessories), under affordable payment LTO purchase agreements with no long-term obligation. The Company's primary sales channels include business-to-consumer and business-to- business channels. It offers a range of brands, such as Samsung, Sony and TCL home electronics; Frigidaire, General Electric, Samsung and Whirlpool appliances, and others. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, FlexShopper Inc revenues increased 3% to $117M. Net loss applicable to common stockholders totaled $8.3M vs. income of $9.8M. Revenues reflect Lease merchandise sold increase from $7.1M to $25M. Net loss reflects Interest expense including amortization increase of 69% to $18.9M (expense), Depreciation & Amortization increase of 65% to $7.9M (expense). |
| Employees: | 204 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $155.02M as of Dec 31, 2023 |
| Annual revenue (TTM): | $116.98M as of Dec 31, 2023 |
| EBITDA (TTM): | $21.57M as of Dec 31, 2023 |
| Net annual income (TTM): | -$8.34M as of Dec 31, 2023 |
| Free cash flow (TTM): | -$14.23M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $109.59M as of Dec 31, 2023 |
| Shares outstanding: | 21,752,304 as of Apr 3, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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