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 | FY2019 Year ended Dec 31, 2019 | FY2018 Year ended Dec 31, 2018 | Year ended Dec 31, 2017 Year ended Dec 31, 2017 | Year ended Dec 31, 2016 Year ended Dec 31, 2016 |
|---|---|---|---|---|---|---|---|---|
| Revenues: | ||||||||
| Rental and Leasing Revenue | — | — | — | 96,939,767 | 85,331,360 | 82,458,661 | 65,412,131 | — |
| Lease revenues and fees, net | 91,943,729 | 105,936,072 | 118,355,184 | — | — | — | — | — |
| Lease merchandise sold | — | — | 7,071,572 | 5,144,747 | 3,458,529 | 2,269,708 | 1,634,233 | — |
| 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 | 88,789,889 | 84,728,369 | 67,046,364 | — |
| Costs and expenses: | ||||||||
| Cost of lease revenues, consisting of depreciation and impairment of lease merchandise | — | — | 73,616,293 | 63,308,210 | 57,939,899 | 40,639,232 | 31,453,246 | — |
| Cost of lease merchandise sold | — | — | 5,561,593 | 3,424,880 | 2,282,036 | 1,423,526 | 998,800 | — |
| Provision for bad debts | — | — | — | — | — | 23,239,189 | 19,135,207 | — |
| 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 | 3,649,292 | 7,046,812 | 6,094,330 | — |
| Salaries and benefits | 12,499,099 | 10,991,477 | 11,489,208 | 10,440,693 | 8,469,334 | 8,796,011 | 7,862,714 | — |
| Operating expenses | — | — | — | 14,404,953 | 11,345,091 | 8,761,815 | 7,664,566 | — |
| 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 | — | — | 126,622 | — | — |
| Gain on bargain purchase | — | 14,461,274 | — | — | — | — | — | — |
| Total costs and expenses | 103,284,660 | 119,359,383 | 118,061,937 | 97,458,799 | 83,685,652 | 89,906,585 | 73,208,863 | — |
| Operating income/ (loss) | 13,690,347 | (6,303,210) | 7,364,819 | 4,625,715 | 5,104,237 | (5,178,216) | (6,162,499) | — |
| 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) | — | 4,310,422 | 4,156,424 | 2,168,262 | — |
| Loss before income taxes | (5,223,426) | (3,003,332) | 4,058,084 | 323,154 | 793,815 | — | — | — |
| Benefit from income taxes | 989,809 | 16,635,051 | (785,310) | 663,050 | 216,400 | — | — | — |
| Net (loss)/ income | (4,233,617) | 13,631,719 | 3,272,774 | (339,896) | 577,415 | (9,461,262) | (8,330,761) | — |
| 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 | 2,437,884 | 2,426,840 | 2,316,396 | — |
| Net (loss)/ income attributable to common and Series 1 Convertible Preferred shareholders | (8,337,255) | 9,901,139 | 833,675 | (3,492,096) | (1,860,469) | (11,888,102) | (10,647,157) | — |
| Basic and diluted | — | — | — | (0.17) | (0.11) | (1.39) | (2.01) | — |
| 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 | 17,672,156 | 8,574,569 | 5,290,944 | — |
| 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.