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FlexShopper Inc (FPAY)
NASDAQ:FPAY
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.07Last Year’s EPS
-$0.03Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2024
|% Change Since: 11.28%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Positive
The earnings call showed strong revenue and EBITDA growth, successful expansion in the B2B channel, and improved asset quality. Despite some concerns over a decline in net loan revenues and a delayed audit, the overall performance and strategic initiatives indicate positive momentum for FlexShopper.Company Guidance
During the third quarter of 2024, FlexShopper reported significant growth, with total revenue increasing by 23% to a quarterly record of nearly $39 million. The company's adjusted EBITDA rose by 45% to over $12 million, while net income attributable to common stockholders was $1.2 million, or $0.05 per diluted share. The B2B channel showcased impressive results, with lease funding approvals up 33% to $77 million, and the number of signed store locations increased by approximately 250% to 7,800. In the B2C segment, retail revenue grew from $780,000 in Q1 to $1.2 million in Q3. The provision for doubtful accounts improved significantly, dropping to 22.2% from 32.1% the previous year, contributing to a gross margin expansion to 58%. The company also announced strategic actions, including a proposed rights offering aimed at raising capital to redeem preferred stock at a 50% discount, potentially increasing annual net income to common shareholders by $9 million.Record-Breaking Revenue and Growth
Q3 2024 revenue increased 23% year-over-year to nearly $39 million, with adjusted EBITDA up 45% to more than $12 million, marking a quarterly record.
B2B Channel Expansion
Total lease funding approvals increased 33% to $77 million, with the signed store count growing 250% to approximately 7,800 locations.
Improved Asset Quality
Provision for doubtful accounts decreased from 32.1% to 22.2%, a 990 basis point improvement year-over-year.
Gross Profit and Margin Growth
Gross profit expanded 32.9% year-over-year, with the gross margin increasing to 58% in Q3 2024 from 54% in Q3 2023.
Retail Marketplace Growth
Retail revenue increased from $780,000 in Q1 2024 to $1.2 million in Q3 2024, with plans to expand product offerings and marketing.
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FPAY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FPAY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $1.28 | $1.45 | +13.28% |
| Aug 06, 2024 | $1.06 | $1.06 | 0.00% |
| May 13, 2024 | $1.10 | $1.10 | 0.00% |
| Apr 01, 2024 | $1.36 | $1.16 | -14.71% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does FlexShopper Inc (FPAY) report earnings?
FlexShopper Inc (FPAY) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is FlexShopper Inc (FPAY) earnings time?
FlexShopper Inc (FPAY) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FPAY EPS forecast?
FPAY EPS forecast for the fiscal quarter 2024 (Q4) is $0.07.
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