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BOCA RATON, Fla., Oct. 17, 2025 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq: FPAY) (the “Company” or “FlexShopper”), today announced that it received a notice on October 14, 2025, from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) advising the Company that it has initiated a process to delist the Company’s common stock from Nasdaq. According to Nasdaq’s notice, the delisting is a result of the Company having not filed its Annual Report on Form 10-K for the p ...

Company Summaries - Masonglory Limited (NASDAQ:MSGY) experienced a significant stock price drop of 85.43%, falling to $2.99 from a day high of $21.33, with a trading volume of 3,952,129 shares. The decline follows the successful sale of 225,000 ordinary shares at the IPO price of $4.00, generating gross proceeds of $900,000 [2] - Uni-Fuels Holdings Limited (SGX:UFG) saw its stock price decrease by 71.53% to $1.43, with trading volumes of 14,657,032 shares. Despite the drop from a high of $2.04 to a low of $1.12, the company reported year-over-year increases in sales, total revenues, and gross profit for the full year 2024 [3] - FlexShopper, Inc. (NASDAQ:FPAY) faced a 49.46% decline in its stock price to $0.28, with a trading volume of 4,750,341 shares. The price movement from a high of $0.36 to a low of $0.27 may be linked to a deficiency notification from Nasdaq due to a delayed filing of its quarterly report [4] - Nvni Group Limited (NASDAQ:NVNI) saw a 50.60% decrease in its stock price to $0.36, with a trading volume of 45,035,162 shares. The stock fluctuated from a high of $0.41 to a low of $0.30, influenced by a 10-to-1 reverse stock split approved by the Board of Directors [5] - CO2 Energy Transition Corp. (NASDAQ:NOEMR) experienced a 37.49% fall in its stock price to $0.15, with a low trading volume of 1,392 shares. The price movement from a high of $0.22 to a low of $0.15 may reflect investor skepticism regarding the company's growth prospects [6] Market Insights - Recent market movements indicate a volatile stock market environment, with significant price changes across various companies driven by underlying factors such as operational updates, financial performance, and investor sentiment [7]

Core Viewpoint - FlexShopper, Inc. has received a deficiency notification from Nasdaq due to its failure to timely file its Quarterly Report for Q2 2025, which may affect its continued listing status [1][2]. Group 1: Compliance and Filing Issues - FlexShopper was previously granted an exception until October 13, 2025, to file its delinquent Form 10-K for 2024 and Form 10-Q for Q1 2025, but now faces additional delinquency for the Q2 2025 Form 10-Q [2]. - The company must submit an updated plan to regain compliance with Nasdaq's filing requirements due to the new delinquency [2][3]. - The delay in filing the Q2 2025 Form 10-Q is attributed to the need for sufficient time to complete accounting and internal control processes [3]. Group 2: Company Overview - FlexShopper, Inc. is a financial technology company that specializes in lease-to-own and lending solutions for underserved consumers in the U.S. [4]. - The company offers flexible payment options through its direct marketplace and partners with various retailers [4].

Core Points - FlexShopper, Inc. received a 180-calendar day extension from Nasdaq to regain compliance with Listing Rule 5250(c)(1) regarding timely filing of financial reports [1][2] - The extension was granted after Nasdaq reviewed materials submitted by the company, allowing additional time for compliance [2] - FlexShopper is currently working with its independent auditor to complete its annual audit for the fiscal year ended December 31, 2024, and will provide updates on its delayed financial filings soon [3] - During the new compliance period, FlexShopper's shares will continue to trade on Nasdaq, and if the company files its Form 10-K and Form 10-Q by October 13, 2025, it is expected to regain compliance [4] - If the company fails to file the required reports by the deadline, it may face delisting from Nasdaq [4] - FlexShopper is a financial technology company that offers lease-to-own payment solutions and flexible funding options for underserved consumers through its online marketplace and partnerships with merchants [5]

Group 1 - FlexShopper has announced a strategic partnership with ICON Vehicle Dynamics to provide lease-to-own payment solutions for ICON's customers, enhancing accessibility to premium vehicle upgrades [1][4] - ICON's customers can now purchase high-quality off-road performance parts with flexible weekly payments and no credit needed, facilitated by FlexShopper's advanced technology platform [2][3] - The partnership aligns with ICON's commitment to innovation and performance, allowing customers to upgrade their vehicles without compromising on quality or budget [3][4] Group 2 - FlexShopper is currently working to regain compliance with Nasdaq's listing standards after failing to timely file its Form 10-Q and Form 10-K [5][6] - The company has until June 16, 2025, to submit a plan to regain compliance, with the possibility of receiving an extension of up to 180 days if the plan is accepted [6] - FlexShopper is a national financial technology company that offers innovative payment options, including lease-to-own and lending products, to underserved consumers [7]

```markdown [Financial Performance Highlights](index=1&type=section&id=Financial%20Performance%20Highlights) The company achieved significant revenue and operating income growth in 2024, driven by strategic investments and expanded market reach, with momentum continuing into 2025 [CEO Commentary and Strategic Progress](index=1&type=section&id=CEO%20Commentary%20and%20Strategic%20Progress) The CEO highlighted 2024 as a transformative year with successful technology investments, increased LTO locations, a new retail revenue strategy, and a 66% rise in operating income, with momentum continuing into 2025 - DTC and B2B growth strategies led to a **~250%** increase in LTO offerings to **7,900** locations during **2024**[3](index=3&type=chunk) - The new retail revenue strategy on the flexshopper.com marketplace, in its first year, added incremental revenues and profits[3](index=3&type=chunk) - The company raised **$12.2 million** in proceeds through a rights offering between **November 2024** and early **2025** to improve its balance sheet[4](index=4&type=chunk) - Lease originations for the first quarter of **2025** increased by **49.7%** compared to the same period in **2024**[5](index=5&type=chunk) [Fourth Quarter 2024 Financial Highlights](index=1&type=section&id=Results%20for%20the%20Fourth%20Quarter%20Ended%20December%2031%2C%202024) In Q4 2024, FlexShopper reported increased total revenues and gross profit, stable operating income, and higher Adjusted EBITDA, despite a widened net loss attributable to common stockholders Q4 2024 vs Q4 2023 Key Metrics | Metric | Q4 2024 | Q4 2023 | Change | | :--- | :--- | :--- | :--- | | Total Revenues | $35.5M | $30.3M | +17.3% | | Gross Profit | $20.4M | $15.7M | +29.8% | | Gross Profit Margin | 58% | 52% | +6 p.p. | | Operating Income | $5.8M | $5.6M | +3.6% | | Adjusted EBITDA | $8.6M | $8.2M | +5.7% | | Net Loss to Common Stockholders | ($1.9M) | ($0.7M) | Widened | | Diluted EPS | ($0.09) | ($0.03) | Widened | | Total Lease Funding Approvals | $142.4M | $86.0M | +65.6% | [Full Year 2024 Financial Highlights](index=1&type=section&id=Results%20for%20the%20Twelve%20Months%20Ended%20December%2031%2C%202024) For the full year 2024, the company achieved significant increases in total revenues, operating income, and Adjusted EBITDA, while narrowing its net loss attributable to common stockholders Full Year 2024 vs 2023 Key Metrics | Metric | FY 2024 | FY 2023 | Change | | :--- | :--- | :--- | :--- | | Total Revenues | $139.8M | $117.0M | +19.5% | | Gross Profit | $76.7M | $54.7M | +40.3% | | Gross Profit Margin | 55% | 47% | +8 p.p. | | Operating Income | $22.8M | $13.7M | +66.4% | | Adjusted EBITDA | $33.3M | $23.2M | +43.1% | | Net Loss to Common Stockholders | ($4.7M) | ($8.3M) | Narrowed | | Diluted EPS | ($0.22) | ($0.38) | Improved | | Total Lease Funding Approvals | $382.8M | $213.5M | +79.3% | [2025 Outlook and Corporate Updates](index=3&type=section&id=2025%20Outlook%20and%20Corporate%20Updates) The company provides positive financial guidance for 2025 while addressing a Nasdaq compliance issue related to its 10-K filing [2025 Forward Guidance](index=3&type=section&id=2025%20Forward%20Guidance) FlexShopper anticipates continued growth in 2025, projecting full-year gross profit between $90 million and $100 million and Adjusted EBITDA between $40 million and $45 million 2025 Full Year Guidance | Metric | 2025 Guidance | YoY Growth vs 2024 | | :--- | :--- | :--- | | Gross Profit | $90M - $100M | 17% - 30% | | Adjusted EBITDA | $40M - $45M | 20% - 35% | [10-K Filing and Nasdaq Compliance](index=3&type=section&id=10-K%20Filing%20and%20Nasdaq%20Compliance) The company received a Nasdaq non-compliance notification due to a delayed 10-K filing but intends to regain compliance, potentially with an extension until October 13, 2025 - Received a non-compliance notification from Nasdaq on **April 17, 2025**, due to a delay in filing the Form **10-K**[12](index=12&type=chunk) - The company intends to file the **10-K** as soon as practicable and may be granted up to **180 days** (until **October 13, 2025**) to regain compliance[12](index=12&type=chunk) [Consolidated Financial Statements (Unaudited)](index=5&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS%20(unaudited)) The unaudited financial statements show increased assets and liabilities, with improved net loss and cash flow from financing activities [Consolidated Balance Sheets](index=5&type=section&id=CONSOLIDATED%20BALANCE%20SHEETS) As of December 31, 2024, FlexShopper's total assets and liabilities increased, primarily due to growth in receivables, while total stockholders' equity also rose Selected Balance Sheet Data (as of Dec 31) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Total Assets | $209,508,494 | $156,490,377 | | Total Liabilities | $176,358,320 | $127,259,604 | | Total Stockholders' Equity | $33,150,174 | $29,230,773 | | Cash | $10,402,637 | $4,413,130 | | Lease receivables, net | $72,191,028 | $44,795,090 | [Consolidated Statements of Operations](index=6&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) For the year ended December 31, 2024, total revenues and operating income increased, and the net loss attributable to common shareholders significantly narrowed despite higher interest expenses Selected Statement of Operations Data (Year ended Dec 31) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Total Revenues | $139,800,732 | $116,975,007 | | Operating Income | $22,778,529 | $13,690,347 | | Interest Expense | ($22,136,448) | ($18,913,773) | | Net Loss | ($179,269) | ($4,233,617) | | Net Loss Attributable to Common Shareholders | ($4,693,270) | ($8,337,255) | | Diluted Loss Per Share | ($0.22) | ($0.38) | [Consolidated Statements of Cash Flows](index=7&type=section&id=CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS) For the year ended December 31, 2024, net cash used in operating and investing activities was offset by significant cash provided by financing activities, leading to an increased year-end cash balance Selected Cash Flow Data (Year ended Dec 31) | Metric | 2024 | 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($34,946,153) | ($6,664,520) | | Net cash used in investing activities | ($9,151,274) | ($7,561,259) | | Net cash provided by financing activities | $50,086,934 | $12,465,560 | | Increase/(Decrease) in Cash | $5,989,507 | ($1,760,219) | | Cash, end of period | $10,402,637 | $4,413,130 | [Non-GAAP Financial Measures](index=9&type=section&id=Non-GAAP%20Financial%20Measures) The company utilizes Adjusted EBITDA as a key non-GAAP metric to assess operational performance, demonstrating significant growth in 2024 [Definition of Non-GAAP Measures](index=9&type=section&id=Definition%20of%20Non-GAAP%20Measures) The company uses Adjusted EBITDA as a key non-GAAP metric to evaluate operating performance, defined as net income before specific non-cash and non-recurring adjustments - Adjusted EBITDA is defined as net income excluding interest, stock-based compensation, taxes, depreciation (other than leased merchandise), amortization, and non-recurring items[26](index=26&type=chunk) [Full Year 2024 Reconciliation](index=9&type=section&id=Full%20Year%202024%20Reconciliation) For the full year 2024, FlexShopper's gross profit increased significantly, and Adjusted EBITDA rose **43.1%** to **$33.3 million** after reconciliation from net loss Full Year 2024 Gross Profit and Adjusted EBITDA Reconciliation | Metric | 2024 | 2023 | % Change | | :--- | :--- | :--- | :--- | | Gross Profit | $76,719,393 | $54,679,281 | 40.3% | | Net Loss | ($179,269) | ($4,233,617) | 95.8% | | Adjusted EBITDA | $33,273,953 | $23,249,164 | 43.1% | [Fourth Quarter 2024 Reconciliation](index=10&type=section&id=Fourth%20Quarter%202024%20Reconciliation) In Q4 2024, gross profit grew significantly, and Adjusted EBITDA increased **5.7%** to **$8.6 million**, despite the company reporting a net loss for the quarter Q4 2024 Gross Profit and Adjusted EBITDA Reconciliation | Metric | Q4 2024 | Q4 2023 | % Change | | :--- | :--- | :--- | :--- | | Gross Profit | $20,437,771 | $15,746,344 | 29.8% | | Net Loss | ($728,416) | $354,152 | (305.7%) | | Adjusted EBITDA | $8,631,920 | $8,164,197 | 5.7% | ```

Ongoing DTC and B2B growth strategies drove a 19.5% year-over-year increase in annual revenue Operating income for 2024 increased 66% to $22.8 million, and adjusted EBITDA increased 43.1% to $33.3 million, as a result of higher revenue, controlled expenses and favorable asset quality BOCA RATON, Fla., April 23, 2025 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (NASDAQ:FPAY) ("FlexShopper"), a leading national online lease-to-own ("LTO") retailer and payment solution provider for underserved consumers, today announ ...

Core Insights - FlexShopper, Inc. reported a 19.5% year-over-year increase in annual revenue, driven by ongoing DTC and B2B growth strategies [1][2] - Operating income for 2024 rose 66% to $22.8 million, with adjusted EBITDA increasing 43.1% to $33.3 million due to higher revenue and controlled expenses [1][8] Financial Performance - Total lease funding approvals increased 79.3% to $382.8 million from $213.5 million [8] - Total revenues for the year increased 19.5% to $139.8 million from $117.0 million [8] - Gross profit rose 40.3% to $76.7 million from $54.7 million, with gross profit margin improving from 47% to 55% [8] - Net loss attributable to common stockholders decreased to ($4.7) million, or ($0.22) per diluted share, compared to a net loss of ($8.3) million, or ($0.38) per diluted share in the previous year [8][22] Growth Strategies - FlexShopper expanded its LTO offerings to 7,900 locations, a ~250% increase, and launched a retail revenue strategy on its marketplace, contributing to incremental revenues [2][4] - Lease originations for the first quarter of 2025 increased 49.7% compared to the same period in 2024, indicating continued growth momentum [4] Balance Sheet and Capital Management - The company raised $12.2 million through a rights offering and is looking to repurchase 91% of its series 2 convertible preferred stock at a significant discount [3] - Total assets increased to $209.5 million as of December 31, 2024, compared to $156.5 million in 2023 [19][20] Future Outlook - FlexShopper anticipates continued growth in 2025, projecting gross profit between $90 million and $100 million, representing a 17% to 30% increase from 2024 [16] - Adjusted EBITDA for 2025 is expected to be between $40 million and $45 million, a 20% to 35% increase from 2024 [16]

Core Insights - FlexShopper, Inc. reported a significant increase in new customer applications and originations for January 2025, with applications up 130% year-over-year and total originations up 44% year-over-year, marking the highest level of January originations in four years [1][5] - The company experienced accelerated monthly growth trends in January compared to December 2024, with originations increasing from 35% year-over-year in December to 44% in January [2][5] - Key profitability indicators showed a 105% increase in gross margin dollars and a 34% reduction in marketing costs per new customer, alongside stable asset quality [1][5] Company Performance - FlexShopper's marketplace originations increased by 93% year-over-year, driven by a 248% increase in the number of stores offering its virtual lease-to-own solutions [2][5] - The company reported a record new customer application volume, with a 130% year-over-year increase in applications submitted, and a 58% increase in marketplace application volume [5] - New customer originations in FlexShopper's Revolution Loan business rose by 88% year-over-year, marking the fifth consecutive month of growth in this segment [5] Strategic Initiatives - The positive performance reflects the successful implementation of FlexShopper's direct-to-consumer (DTC) and business-to-business (B2B) growth strategies, enhancing customer demand for its payment solutions [2][4] - The company maintained disciplined underwriting standards while achieving improved asset quality, evidenced by 13 consecutive months of seasoned originations showing year-over-year increases in cumulative payment rates [5]