FlexShopper Q4 revenue up 41% YoY, FY 2023 EBITDA turns positive to $23.2M; net loss widens on interest costs

FlexShopper, Inc.

2024-Q1 EPS reported -$0.06 revenue$33,944,873

Q4 total fundings +12% to $35.4M; net lease and loan revenues +40.9% to $30.3M; gross profit jumped to $15.8M from $3.8M.
FY2023 Adjusted EBITDA $23.2M vs -$0.5M in 2022; operating income $13.7M vs loss of $6.3M.
Net loss attributable to common $8.3M ($0.51 loss per share) vs prior year income of $9.9M ($0.44 EPS), driven by higher interest expense and preferred dividends.
Subsequent event: entered new $150M credit facility with Waterfall Asset Management at SOFR+9%, replacing 2015 facility.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FlexShopper, Inc. reported quarter ended December 31, 2023 results: revenue $30.3 million, net income $(715) thousand, EPS $(0.03) per diluted share.

Period: quarter ended December 31, 2023
Revenue: $30.3 million
Net income: $(715) thousand
EPS: $(0.03) per diluted share
Result: reported results

Exact text from the filing

Total net lease and loan revenues and fees increased 40.9% to $30.3 million from $21.5 million

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FlexShopper, Inc. reported year ended December 31, 2023 results: revenue $117.0 million, net income $8.3 million, EPS $(0.51) per diluted share.

Period: year ended December 31, 2023
Revenue: $117.0 million
Net income: $8.3 million
EPS: $(0.51) per diluted share
Result: reported results

Exact text from the filing

vs. Twelve Months Ended December 31, 2022: ● Total fundings increased 7.7% to $120.4 million from $111.8 million ● Total net lease and loan revenues and fees increased 3.4% to $117.0 million from $113.1 million ● Gross profit increased 47.4% to $54.7 million from $37.1 million ● Adjusted EBITDA 1 increased by $23.7 million to $23.2 million compared to ($0.5) million

View on SEC.gov

324 earnings releases filed in the last 30 days. Browse all earnings releases →

Source: SEC EDGAR

accession 0001213900-24-028712

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.