FlexShopper Provides Business Update for January 2025

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]