FlexShopper, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 14, 2023 at 04:03 pm EDT
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FlexShopper, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 22.91 million compared to USD 30.47 million a year ago. Revenue was USD 24.53 million compared to USD 36.55 million a year ago. Net loss was USD 5.3 million compared to net income of USD 14.39 million a year ago. Basic loss per share from continuing operations was USD 0.22 compared to basic earnings per share from continuing operations of USD 0.63 a year ago. Diluted loss per share from continuing operations was USD 0.22 compared to diluted earnings per share from continuing operations of USD 0.51 a year ago.
For the six months, sales was USD 47.62 million compared to USD 58.23 million a year ago. Revenue was USD 55.32 million compared to USD 65.5 million a year ago. Net loss was USD 5.53 million compared to net income of USD 12.01 million a year ago. Basic loss per share from continuing operations was USD 0.34 compared to basic earnings per share from continuing operations of USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 0.34 compared to diluted earnings per share from continuing operations of USD 0.42 a year ago.
FlexShopper, Inc. is a financial technology company that provides payment options to consumers. The Company provides a variety of funding options via lease-purchase solutions and loans. It has several channels, which generate payment options for customers. The Company enables consumers to use its e-commerce marketplace to shop for brand name electronics, home furnishings and other durable goods on a lease-to-own (LTO) basis. It provides an opportunity to obtain ownership of durable products, such as consumer electronics, home appliances, computers (including tablets and wearables), smartphones, tires, jewelry and furniture (including accessories), under affordable payment LTO purchase agreements with no long-term obligation. The Company's primary sales channels include business-to-consumer and business-to- business channels. It offers a range of brands, such as Samsung, Sony and TCL home electronics; Frigidaire, General Electric, Samsung and Whirlpool appliances, and others.
FLEXSHOPPER, INC. 
