FPAY · As filed with the SEC
FlexShopper income statement, by fiscal year
The statement as FlexShopper presents it in its 10-Q and 10-K: its own lines, labels and order. Tables over time lines up standardized figures across every filing.
Consolidated Statements of Operations · USD, except per-share amounts
| USD, except per-share amounts | FY2023 Year ended Dec 31, 2023 | FY2022 Year ended Dec 31, 2022 | FY2021 Year ended Dec 31, 2021 | FY2020 Year ended Dec 31, 2020 |
|---|---|---|---|---|
| Revenues: | ||||
| Rental and Leasing Revenue | — | — | — | 96,939,767 |
| Lease revenues and fees, net | 91,943,729 | 105,936,072 | 118,355,184 | — |
| Lease merchandise sold | — | — | 7,071,572 | 5,144,747 |
| Loan revenues and fees, net of changes in fair value | 25,031,278 | 7,120,101 | — | — |
| Total revenues | 116,975,007 | 113,056,173 | 125,426,756 | 102,084,514 |
| Costs and expenses: | ||||
| Cost of lease revenues, consisting of depreciation and impairment of lease merchandise | — | — | 73,616,293 | 63,308,210 |
| Cost of lease merchandise sold | — | — | 5,561,593 | 3,424,880 |
| Depreciation and impairment of lease merchandise | 56,288,128 | 72,556,431 | — | — |
| Loan origination costs and fees | — | 3,384,013 | — | — |
| Loan origination costs and fees | 6,007,598 | — | — | — |
| Marketing | 7,620,795 | 11,031,695 | 9,129,062 | 5,880,063 |
| Salaries and benefits | 12,499,099 | 10,991,477 | 11,489,208 | 10,440,693 |
| Operating expenses | — | — | — | 14,404,953 |
| Operating expenses | 24,547,729 | 21,395,767 | 18,265,781 | — |
| Net change in fair value of promissory note related to acquisition | (3,678,689) | — | 1,931,825 | — |
| Gain on bargain purchase | — | 14,461,274 | — | — |
| Total costs and expenses | 103,284,660 | 119,359,383 | 118,061,937 | 97,458,799 |
| Operating income/ (loss) | 13,690,347 | (6,303,210) | 7,364,819 | 4,625,715 |
| Interest expense including amortization of debt issuance costs | — | — | — | 4,302,561 |
| Interest expense including amortization of debt issuance costs | (18,913,773) | (11,161,396) | (5,238,560) | — |
| Loss before income taxes | (5,223,426) | (3,003,332) | 4,058,084 | 323,154 |
| Benefit from income taxes | 989,809 | 16,635,051 | (785,310) | 663,050 |
| Net (loss)/ income | (4,233,617) | 13,631,719 | 3,272,774 | (339,896) |
| Deemed dividend from exchange offer of warrants | — | — | — | 713,212 |
| Dividends on Series 2 Convertible Preferred Shares | 4,103,638 | 3,730,580 | 2,439,099 | 2,438,988 |
| Net (loss)/ income attributable to common and Series 1 Convertible Preferred shareholders | (8,337,255) | 9,901,139 | 833,675 | (3,492,096) |
| Basic and diluted | — | — | — | (0.17) |
| Basic and diluted (loss)/ income per common share: | ||||
| Basic (in Dollars per share) | (0.51) | 0.45 | 0.04 | — |
| Diluted (in Dollars per share) | (0.51) | 0.44 | 0.04 | — |
| WEIGHTED AVERAGE COMMON SHARES: | ||||
| Basic and diluted | — | — | — | 20,995,349 |
| Basic (in Shares) | 16,260,349 | 21,646,896 | 21,387,960 | — |
| Diluted (in Shares) | 16,260,349 | 22,425,354 | 23,227,964 | — |
As filed on EDGAR · Not affiliated with the U.S. SEC · Not investment advice. Each column links to its filing.