Exhibit 99.1 NEWS RELEASE FlexShopper, Inc. Reports 2024 Second-Quarter Financial Results Boca Raton, Fla., -- August 6, 2024 -- FlexShopper, Inc. (Nasdaq: FPAY) ("FlexShopper"), a leading national online lease-to-own ("LTO") retailer and payment solution provider for underserved consumers, today announced its financial results for the quarter ended June 30, 2024. Russ Heiser, Jr, Chief Executive Officer, stated, "Our second-quarter and year-to-date results are encouraging as the long-term growth strategies ...

Financial Performance - Total revenues for Q2 2024 reached $31,758,885, a 29.0% increase from $24,532,036 in Q2 2023[11] - Lease revenues and fees for Q2 2024 were $27,074,048, up 18.9% from $22,906,843 in Q2 2023[11] - Loan revenues and fees increased to $3,314,375 in Q2 2024, compared to $1,625,193 in Q2 2023, representing a 103.5% growth[11] - Operating income for Q2 2024 was $2,377,066, a significant improvement from a loss of $2,031,323 in Q2 2023[11] - Net loss for Q2 2024 was $1,603,059, compared to a net loss of $5,297,655 in Q2 2023, indicating a reduction in losses[11] - Gross profit for the six months ended June 30, 2024, was $33,780,801, a 53.6% increase from $21,997,555 in 2023[143] - Adjusted EBITDA for the six months ended June 30, 2024, was $12,491,259, reflecting an 86.5% increase from $6,696,501 in 2023[144] - For the six months ended June 30, 2024, the net loss attributable to common shares was $3,978,436, compared to a net loss of $7,492,596 for the same period in 2023, representing a 46.5% improvement[47] - Basic and diluted earnings per share for the six months ended June 30, 2024, were both $(0.18), compared to $(0.34) for the same period in 2023, indicating a reduction in losses[48] Assets and Liabilities - Total current assets increased to $132,438,401 in 2024 from $117,434,627 in 2023, reflecting a growth of 12.7%[10] - Total liabilities rose to $144,731,149 in 2024, up from $127,259,604 in 2023, marking a 13.8% increase[10] - Cash balance improved to $4,892,912 in 2024, compared to $4,413,130 in 2023, showing a 10.8% increase[10] - The company reported a total stockholders' equity of $27,481,239 in 2024, down from $29,230,773 in 2023, a decrease of 6.0%[10] - The company reported principal and accrued interest outstanding on the NRNS Note of $10,674,096 as of June 30, 2024[180] Cash Flow and Financing - Total cash provided by financing activities for the six months ended June 30, 2024, was $20,529,695, compared to a cash used of $1,807,465 in the same period of 2023[16] - The company incurred $28,534,788 in depreciation and impairment of lease merchandise for the six months ended June 30, 2024, slightly down from $29,831,205 in 2023[16] - The company borrowed $22,361,690 under the 2024 Credit Agreement for the six months ended June 30, 2024, compared to $2,795,000 borrowed in the same period in 2023[176] - Interest expense incurred under the 2024 Credit Agreement was $4,137,318 for the six months ended June 30, 2024, compared to $3,332,686 for the same period in 2023[177] - The outstanding balance under the 2024 Credit Agreement was $118,816,690 as of June 30, 2024[177] - The company expects to meet liquidity needs for future growth through cash flow from operations and/or additional borrowings against the Credit Agreement[184] Marketing and Expenses - Marketing expenses for Q2 2024 were $2,545,814, an increase of 71.0% from $1,488,578 in Q2 2023[11] - Salaries and benefits increased by 42.0% to $4,224,614 in Q2 2024 from $2,976,008 in Q2 2023, attributed to hiring for new initiatives[152] - Marketing expenses increased by 66.6% to $4,311,386 compared to $2,587,767 in the previous year, as the company ramped up efforts to generate more originations[162] Credit Quality and Receivables - The company reported a provision for doubtful accounts of $17,290,476 for the six months ended June 30, 2024, down from $22,085,828 in 2023, reflecting improved credit quality[16] - The allowance for doubtful accounts rose to $33,008,354 as of June 30, 2024, compared to $19,954,828 at the end of 2023, indicating an increase of about 65.5%[26] - The net charge-off for the six months ended June 30, 2024, was $(2,411,225), compared to $(11,041,155) for the year ended December 31, 2023, reflecting improved credit quality[60] - The provision for doubtful accounts as a percentage of gross lease billings decreased to 23% in Q2 2024 from 33% in Q2 2023[147] Shareholder Information - The total number of common shares outstanding as of June 30, 2024, was 21,527,869, a slight decrease from 21,751,807 shares in the same period of 2023[47] - The Company has 170,332 shares of Series 1 Convertible Preferred Stock outstanding, convertible into 225,231 shares of common stock[96] - Cumulative accrued dividends for Series 2 Preferred Stock totaled $25,349,212 as of June 30, 2024[98] - The Board of Directors authorized a share repurchase program to acquire up to $2 million of the Company's common stock, with a term of 18 months[194] Strategic Initiatives - The company plans to continue its market expansion and product development strategies to enhance its financial performance moving forward[19] - FlexShopper launched a new initiative in Q1 2024 to offer alternative lenders payment options on its marketplace, expanding its customer reach[134] - The company is actively working on onboarding a new bank partner for its unsecured consumer loan product after its previous partner exited the high APR business in 2023[132] Miscellaneous - The company is not currently experiencing any material impact from the COVID-19 pandemic as of August 6, 2024[185] - The company recognized a tax benefit from uncertain tax positions only if it is more likely than not that the position will be sustained, with no unrecognized tax benefits recorded as of June 30, 2024[64]

FlexShopper Inc. (FPAY) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.06 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this company would post a loss of $0.26 per share when it actually produced a loss of $0.03, delivering a surprise of 88.46%. Over the last four quarters, the company has surpasse ...

Exhibit 99.1 FlexShopper, Inc. Reports 2024 First Quarter and Year End Financial Results BOCA RATON, Fla., May 13, (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq:FPAY) ("FlexShopper"), a leading national online lease-to-own ("LTO") retailer and payment solution provider for underserved consumers, today announced its financial results for the quarter ended March 31, 2024. Results for Quarter Ended March 31, 2024, vs. Quarter Ended March 31, 2023: Conference Call and Webcast Details Conference call Date: Tuesd ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number: 001-37945 FLEXSHOPPER, INC. (Exact name of registrant as specified in its charter) Delaware 20-5456087 (State or Other Jurisdicti ...

FlexShopper, Inc. (NASDAQ:FPAY) Q4 2023 Earnings Call Transcript April 2, 2024 8:30 AM ET Company Participants Carlos Sanchez - IR Russ Heiser - CEO John Davis - COO Conference Call Participants Scott Buck - H.C. Wainwright Michael Diana - Maxim Group Operator Greetings. Welcome to the FlexShopper Fourth Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-37945 FLEXSHOPPER, INC. (Exact name of Registrant as specified in its charter) Delaware 20-5456087 (State or other jurisdicti ...

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FlexShopper, Inc. (NASDAQ:FPAY) Q3 2023 Earnings Conference Call November 15, 2023 8:00 AM ET Company Participants Carlos Sanchez - Investor Relations Russ Heiser - Chief Executive Officer John Davis - Chief Operating Officer Conference Call Participants Scott Buck - H.C. Wainwright Michael Diana - Maxim Group Operator Greetings. Welcome to the FlexShopper Third Quarter Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the ...

Safe Harbor Statement & Use of Non-GAAP Information We urge you to consider those risks and uncertainties in evaluating our forward looking statements We caution readers not to place undue reliance upon any such forward looking statements, which represent our estimates and assumptions only as of the date hereof except as required by law, we undertake no obligation to update any forward looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, fut ...