FlexShopper, Inc. (NASDAQ:FPAY) Q2 2022 Earnings Conference Call August 11, 2022 9:00 AM ET Company Participants Carlos Sanchez – Investor Relations Rich House – Chief Executive Officer Russ Heiser – Chief Financial Officer John Davis – Chief Operating Officer Conference Call Participants Scott Buck – H.C. Wainwright Michael Diana – Maxim Group Operator Greetings, ladies and gentlemen, and welcome to FlexShopper, LLC 2022 Second Quarter Financial Results Conference Call. At this time all participants are in ...

Investor Presentation August 2022 Safe Harbor Statement & Use of Non-GAAP Information Forward Looking Statements This presentation includes forward looking statements that are made pursuant to the "safe harbor" provisions of the private securities litigation reform act of 1995 Forward looking statements reflect our current views with respect to future events and involve inherent risks and uncertainties which could cause actual results to differ materially from our historical experience and present expectati ...

FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 | Delaware | 20-5456087 | | --- | --- | | (State or Other Jurisdiction of | (I.R.S. Employer | | Incorporation or Organization) | Identification No.) | | 901 Yamato Road, Suite 260, Boca Raton, Florida | ...

Financial Performance - Total revenues for Q1 2022 were $28,955,236, a decrease of 11.1% from $32,783,670 in Q1 2021[14] - Net loss for Q1 2022 was $2,380,935, compared to a net income of $1,237 in Q1 2021, resulting in a basic and diluted loss per common share of $(0.14) compared to $(0.03) in Q1 2021[14] - Operating loss for Q1 2022 was $(1,282,647), a decline from an operating income of $1,400,234 in Q1 2021[14] - Adjusted EBITDA for Q1 2022 was $(40,356), a decrease of $2,482,250 compared to $2,441,894 in Q1 2021[138] - For the three months ended March 31, 2022, the net loss attributable to common and Series 1 Convertible Preferred Shareholders was $2,990,712 compared to a net loss of $608,535 for the same period in 2021[49] Assets and Liabilities - Total current assets increased to $78,524,992 as of March 31, 2022, from $76,893,272 as of December 31, 2021, primarily driven by an increase in accounts receivable[12] - Total liabilities rose to $72,820,725 as of March 31, 2022, compared to $68,668,437 as of December 31, 2021, reflecting an increase in loan payable under credit agreements[12] - Total stockholders' equity decreased to $14,204,970 as of March 31, 2022, from $16,143,619 as of December 31, 2021, primarily due to the net loss incurred[12] - The net leased merchandise balance as of March 31, 2022, was $36,597,829, down from $40,942,112 as of December 31, 2021[31] Cash Flow and Liquidity - Cash and cash equivalents decreased to $4,319,701 at the end of Q1 2022 from $5,094,642 at the end of Q4 2021, indicating a cash outflow[17] - The Company’s liquidity as of March 31, 2022, was $4,319,701, exceeding the required minimum of $1,500,000[84] - Net cash used in operating activities was $7,940,659 for the three months ended March 31, 2022, primarily due to purchases of leased merchandise and changes in accounts receivable and accounts payable[166] - Net cash provided by financing activities was $8,719,528 for the three months ended March 31, 2022, due to $6,800,000 drawn on the Credit Agreement and $3,000,000 from Promissory Notes[169] Accounts Receivable and Credit Risk - The company reported a provision for doubtful accounts of $11,831,117 in Q1 2022, up from $8,833,349 in Q1 2021, indicating increased credit risk[17] - As of March 31, 2022, accounts receivable totaled $51,988,768, with an allowance for doubtful accounts of $22,450,828, resulting in net accounts receivable of $29,537,940[29] - The provision for doubtful accounts increased to $11,831,117 for the three months ended March 31, 2022, compared to $8,833,349 for the same period in 2021, indicating a rise in expected credit losses[38] - The company recognized charge-offs of $17,083,567 for accounts receivable during the three months ended March 31, 2022, compared to $7,036,164 for the same period in 2021[127] Marketing and Operating Expenses - Marketing expenses increased to $2,014,115 in Q1 2022, compared to $1,832,740 in Q1 2021, reflecting a strategic push in customer acquisition[14] - Other operating expenses rose to $5,673,202 in Q1 2022, an increase of $1,558,778 or 37.9% from $4,114,424 in Q1 2021[145] - Travel expenses surged by $169,893 or 291.5% to $228,179 in Q1 2022, attributed to the expansion of retail partner rollouts[148] - Customer verification expenses decreased by $715,068 or 83.4% to $142,757 for the three months ended March 31, 2022, compared to $857,825 in the same period of 2021[149] Financing Activities - The company generated $6,800,000 in proceeds from loan payable under credit agreements in Q1 2022, compared to $3,500,000 in Q1 2021, indicating increased financing activity[17] - Interest expense under the Credit Agreement for Q1 2022 was $1,551,844, compared to $1,125,239 for Q1 2021, with an outstanding balance of $56,150,000 as of March 31, 2022[86] - The Commitment Amount under the Credit Agreement was increased to $82,500,000 as of March 8, 2022, allowing for greater borrowing capacity[83] Stock and Equity - The Company sold 20,000 shares of Series 2 Convertible Preferred Stock for gross proceeds of $20.0 million, with cumulative accrued dividends totaling approximately $13,880,950 as of March 31, 2022[90] - Total stock-based compensation expense for Q1 2022 was $305,229, down from $380,263 in Q1 2021, with unrecognized compensation cost related to non-vested options and PSUs amounting to approximately $802,271[104] - The outstanding balance under the Credit Agreement was presented as a non-current liability as no principal is expected to be repaid in the next twelve months[86] Tax and Valuation - The effective income tax rate for the three months ended March 31, 2022, was approximately 27%, higher than the expected federal rate of 21% due to valuation allowances and non-taxable income[111] - The company has recorded a valuation allowance against certain deferred tax assets as of March 31, 2022, due to uncertainty regarding their realization[112] Business Expansion and Strategy - The company began marketing an unsecured consumer loan product in 2022, expanding its offerings to current customers and retailer partners[124] - The company’s online LTO platforms provide consumers access to durable goods, supporting expansion opportunities in the U.S. consumer e-commerce market[123] - The company anticipates substantial capital resources will be needed to support its growth[152] - The company believes liquidity needs for future growth can be met by cash flow from operations and additional borrowings against the Credit Agreement[173]

FlexShopper, Inc. (NASDAQ:FPAY) Q4 2021 Earnings Conference Call March 31, 2022 9:00 AM ET Company Participants Jeremy Hellman - The Equity Group Rich House - Chief Executive Officer Russ Heiser - Chief Financial Officer Conference Call Participants Scott Buck - H.C. Wainwright Operator Greetings and welcome to the FlexShopper Fourth Quarter and Fiscal Year 2021 Earnings Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. [Operat ...

Financial Performance - Total revenues for the year ended December 31, 2021, were $125,426,756, an increase of 23.0% compared to $102,084,514 in 2020[186] - Net income attributable to common and Series 1 Convertible Preferred shareholders for 2021 was $833,675, a significant improvement from a net loss of $3,492,096 in 2020[186] - Operating income for 2021 was $7,364,819, compared to $4,625,715 in 2020, reflecting a 59.7% increase[186] - Net income for the year ended December 31, 2021, was $3,272,774, compared to a net loss of $339,896 for the year ended December 31, 2020[191] - The company reported a basic and diluted income per common share of $0.04 for 2021, compared to a loss of $0.17 per share in 2020[186] Assets and Liabilities - Total assets increased to $84,812,056 as of December 31, 2021, up from $68,249,379 in 2020, representing a growth of 24.3%[184] - Current liabilities decreased to $12,586,724 in 2021 from $17,067,745 in 2020, a reduction of 26.5%[184] - Accounts receivable increased to $57,602,269 as of December 31, 2021, from $32,171,255 as of December 31, 2020, with an allowance for doubtful accounts of $27,703,278[199] - Total stockholders' equity increased to $16,143,619 as of December 31, 2021, from $11,154,046 as of December 31, 2020[188] Cash Flow and Operating Activities - The company’s cash position decreased to $5,094,642 in 2021 from $8,541,232 in 2020, a decline of 40.5%[184] - Net cash used in operating activities for the year ended December 31, 2021, was $(11,256,031), compared to $(5,207,547) in 2020[191] - Cash at the end of the period decreased to $5,094,642 as of December 31, 2021, from $8,541,232 at the end of 2020[191] Revenue Sources - Lease revenues and fees, net, for 2021 were $118,355,184, up from $96,939,767 in 2020, marking a 22.0% increase[186] - Lease billings and accruals increased to $158,844,724 in 2021 from $128,870,481 in 2020, representing a growth of approximately 23.3%[202] - Lease revenues and fees rose to $118,355,184 in 2021, up from $96,939,767 in 2020, marking an increase of about 22.1%[202] Expenses - Marketing expenses rose to $9,129,062 in 2021, compared to $5,880,063 in 2020, an increase of 55.5%[186] - Depreciation and impairment of lease merchandise for 2021 was $73,616,293, compared to $63,308,210 in 2020[191] - Total operating and finance lease expenses amounted to $401,463 in 2021, compared to $433,654 in 2020, reflecting a decrease of about 7.4%[230] Debt and Financing - Proceeds from loan payable under credit agreement for 2021 were $19,850,000, compared to $15,033,000 in 2020[191] - The outstanding balance under the Credit Agreement increased from $37,195,696 in 2020 to $50,475,000 in 2021, an increase of approximately 35.6%[247] - Interest expense under the Credit Agreement rose to $4,323,830 in 2021 from $3,192,019 in 2020, an increase of about 35.4%[247] Stock and Equity - The Company raised gross proceeds of $20.0 million from the sale of 20,000 shares of Series 2 Convertible Preferred Stock, with an additional $1.95 million from 1,952 shares sold to another investor[251] - As of December 31, 2021, the Company had outstanding warrants exercisable for 2,255,184 shares of common stock at an exercise price of $1.25 per share[261] - The number of outstanding stock options increased from 2,595,700 at the beginning of 2021 to 3,080,904 by the end of 2021, reflecting a growth of approximately 18.6%[268] Tax and Deferred Tax - The effective tax rate for the year ended December 31, 2021 was impacted by a valuation allowance against net deferred tax assets, with total income tax expense recorded at $785,310 compared to $663,050 in 2020[273] - The total gross deferred tax assets as of December 31, 2021 were $11,923,332, with a valuation allowance of $12,418,498, resulting in a net deferred tax liability of $(495,166)[271] Other Financial Metrics - The provision for bad debt for the year ended December 31, 2021, was $40,489,540, up from $31,930,714 in 2020[199] - The company recognized a gain of $1,931,825 from the forgiveness of a Paycheck Protection Program loan in 2021[284] - The federal net operating loss carryforwards available to offset future income as of December 31, 2021 amounted to approximately $56,375,431[272]

FlexShopper, Inc. (NASDAQ:FPAY) Q3 2021 Earnings Conference Call November 16, 2021 9:00 AM ET Company Participants Jeremy Hellman - IR Richard House, Jr. - CEO H. Russell Heiser, Jr. - CFO Conference Call Participants Scott Buck - H.C. Wainwright Ed Woo - Ascendiant Capital Markets Operator Greetings and welcome to the FlexShopper LLC Third Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. ...

Investor Presentation Nov 2021 Safe Harbor Statement & Use of Non-GAAP Information Forward Looking Statements This presentation includes forward looking statements that are made pursuant to the "safe harbor" provisions of the private securities litigation reform act of 1995 Forward looking statements reflect our current views with respect to future events and involve inherent risks and uncertainties which could cause actual results to differ materially from our historical experience and present expectations ...

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 September 30, 2021 ☐ 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 | | --- | --- | | ...

FlexShopper, Inc. (NASDAQ:FPAY) Q2 2021 Earnings Conference Call August 10, 2021 9:00 AM ET Company Participants Jeremy Hellman - IR Rich House - CEO Russ Heiser - CFO Conference Call Participants Scott Buck - H.C, Wainwright Michael Diana - Maxim Group, LLC Ed Woo - Ascendiant Capital Markets Operator Greetings and welcome to the FlexShopper LLC Second quarter 2021 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentatio ...