secwatch.observer — SEC 8-K summary
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Issuer:     FlexShopper, Inc. (—)
CIK:        0001397047
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001213900-24-028712
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1397047/000121390024028712/0001213900-24-028712-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1397047/000121390024028712/ea0202917-8k_flexshop.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-028712

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer