FlexShopper Reports 2017 Third Quarter Financial Overall performance Highlighted by the 34% Increase in Revenue

BOCA RATON, Fla., (World NEWSWIRE) — FlexShopper, Inc. (Nasdaq:FPAY) (“FlexShopper” and/or “Company”), the leading federal on the web rent-to-own (“LTO”) retailer and LTO commission solution merchant, today launched the monetary outcomes for the fresh new one-fourth ended , emphasized from the checklist third one-fourth funds.

The business uses Modified Gross Earnings to check on the several months-over-months functioning performance

Government CommentaryBrad Bernstein, President, said, “We’re working to maximize the benefits of FlexShopper’s novel reputation due to the fact simply on the web “pure gamble” lease-to-individual business in advance of the strongest regular period in regards to our B2C business portion. We had been pleased to declaration a quarter from one another tall funds growth and you can narrowing loss as compared to exact same period out-of past 12 months. We had been hands-on during the keeping a streamlined income focus and also have started capitalizing on last quarter demand having a faster elizabeth-commerce site and enhanced consumer experience, currently generating one-fourth more quarter grows inside the book originations. Simultaneously, the underwriting effort is paying down that have an advanced and tested model providing 21% highest online acceptance cost. Our company is delighted and you will well positioned in order to accelerate the newest promotion from FlexShopper products and services across the different conversion channels that it christmas.”

• Overall income increased 34% so you can $sixteen.5 mil out of $12.step three mil
• Online loss diminished so you’re able to $1.eight mil than the an internet death of $2.six billion
• Net loss owing to preferred investors diminished to help you $dos.step 3 million otherwise $0.49 for every single toned down express as compared to $3.dos million otherwise $0.sixty for every chat med en japansk single toned down display
• Adjusted Terrible Funds (1) enhanced 8.9% so you’re able to $step three.4 billion of $step three.1 million
• Adjusted EBITDA (1) enhanced to ($0.8) billion away from ($1.8) mil

• Continued diversity of goods leased and more furniture which have addition out-of stores such Walmart and Overstock to help you FlexShopper’s elizabeth-commerce marketplace
• Designated David Blum, earlier regarding Babbel and you will eharmony, given that Head inside the proceeded optimisation of buyers order costs and you can scaling across most of the avenues
• Written and you can introduced an automatic pay-per-click platform making use of promotion segmentation and you can servers training bid improvements; FlexShopper is beginning so you’re able to level using this type of program within its focused customers order pricing.
• During the identification of the commitment to consumers, FlexShopper received an one+ score regarding the Bbb.

Non-GAAP MeasuresThe Business regularly critiques many metrics, like the following trick metrics, to test the team, size the overall performance, select trends impacting the organization, establish economic forecasts and then make strategic conclusion.

Administration thinks you to definitely Modified Disgusting Cash and Modified EBITDA promote relevant and you can tips that’s commonly used of the analysts, traders and you may opposition in its community from inside the examining abilities.

Adjusted Disgusting Cash is short for GAAP money less the fresh new supply to have skeptical accounts and cost out of rented directory and you may inventory ended up selling. Modified Gross Earnings brings you with an understanding of the outcomes from the top functions of its company. So it level is good for a trader in the researching this new underlying working efficiency of their business.

About FlexShopper FlexShopper, LLC, a completely owned part away from FlexShopper, Inc. (FPAY), is actually a financial and you may tech providers that provides brand name electronics, furniture and other strong items in order to consumers towards the a rent-to-individual (LTO) foundation with regards to age-commerce marketplaces (FlexShopper) and you will patent pending LTO commission strategy. FlexShopper now offers LTO technical networks to help you retailers and you may e-shops to help you helps deals which have people who need certainly to acquire their situations, but don’t have sufficient bucks or credit. FlexShopper approves customers using their proprietary individual evaluation model, collects regarding customers below a keen LTO bargain and you can loans brand new LTO deals by paying resellers to your goods. Pursue us towards Facebook or twitter

The company means Adjusted Terrible Cash and you may Adjusted EBITDA inside the the above dining tables since it spends these methods to check on its doing work results and also make proper decisions concerning Team

Forward-Appearing StatementsSafe Harbor Report Within the Individual Securities Lawsuits Reform Operate away from 1995. Certain comments within pr release compose “forward-appearing comments” within the meaning of the personal Bonds Litigation Reform Operate of 1995. Forward-searching comments encompass inherent risks and you can uncertainties that may bring about genuine leads to differ materially off those in the newest send-lookin comments, down to various factors along with men and women risks and you may concerns revealed regarding Risk Factors and in Management’s Discussion and Data from Monetary Status and you can Result of Operations parts of their most recently registered Yearly Report about Means ten-K and its particular then submitted Quarterly Accounts towards Mode ten-Q. The company urges you to definitely envision those individuals dangers and uncertainties from inside the evaluating the forward-lookin statements. The firm cautions readers not to set excessive dependence on any particularly pass-lookin comments, and this chat just by the newest go out generated. Except given that otherwise necessary for the latest government ties statutes, the firm disclaims people obligation otherwise performing so you can in public areas release any updates or posts to the forward-appearing report contains here (or elsewhere) to help you mirror one change in its traditional in regards to thereto otherwise any change in events, criteria or factors about what such report is based.