From GlobeNewswire: 2024-05-13 16:30:00

FlexShopper, Inc. reported financial results for the quarter ended March 31, 2024. Total fundings decreased by 1.1% to $26.0 million. Total revenues increased by 10.1% to $33.9 million, with gross profit increasing by 30.9% to $17.8 million. Adjusted EBITDA rose to $7.6 million, and operating income increased by 19.0% to $5.0 million. Net loss attributable to common stockholders was $(1.3) million.

FlexShopper will host a conference call on May 14, 2024, at 8:00 a.m. Eastern Time. Participant Dial-In Numbers are (877) 407-2988 for domestic callers and +1 (201) 389-0923 for international callers. The call will also be webcast on the Company’s website. An audio replay will be archived on the website for those unable to attend. Adjusted EBITDA and core earnings are non-GAAP financial measures used by the Company.

Key performance metrics for the quarter ended March 31, 2024, indicate an 18.4% increase in Adjusted EBITDA to $7.6 million. Core earnings rose by 64.8% to $354,299. FlexShopper, Inc. is a financial technology company providing lease-to-own services through an e-commerce marketplace. Forward-looking statements have been made regarding future plans and expectations, subject to certain inherent risks and uncertainties.



Read more at GlobeNewswire:: FlexShopper, Inc. Reports 2024 First Quarter and Year End