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FlexShopper
(NASDAQ:FPAY)
FlexShopper (FPAY) vs. SPDR S&P 500 ETF (SPY)
FlexShopper Business Overview & Revenue Model
FlexShopper Earnings Call Summary
FlexShopper Financial Statement Overview
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 139.80M | 116.98M | 113.06M | 125.43M | 102.08M |
| Gross Profit | 136.42M | 104.48M | 109.67M | 46.25M | 35.35M |
| EBITDA | 32.39M | 13.69M | 383.40K | 12.71M | 72.05M |
| Net Income | -179.27K | -4.23M | 13.63M | 3.27M | -339.90K |
Balance Sheet | |||||
| Total Assets | 209.51M | 156.49M | 148.29M | 84.81M | 68.25M |
| Cash, Cash Equivalents and Short-Term Investments | 10.40M | 4.41M | 6.05M | 4.99M | 8.54M |
| Total Debt | 163.34M | 115.57M | 97.74M | 56.81M | 45.98M |
| Total Liabilities | 176.36M | 127.26M | 117.25M | 68.67M | 57.10M |
| Stockholders Equity | 33.15M | 29.23M | 31.03M | 16.14M | 11.15M |
Cash Flow | |||||
| Free Cash Flow | -43.45M | -13.00M | -37.74M | -16.21M | -8.31M |
| Operating Cash Flow | -34.95M | -6.66M | -31.24M | -11.26M | -5.21M |
| Investing Cash Flow | -9.15M | -7.56M | -5.20M | -4.95M | -3.10M |
| Financing Cash Flow | 50.09M | 12.47M | 37.52M | 12.76M | 9.98M |
FlexShopper Technical Analysis
FlexShopper Risk Analysis
FlexShopper Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.23B | 7.88 | 24.56% | 1.64% | 3.71% | 9.14% | |
68 Neutral | $1.50B | -41.42 | -4.37% | ― | 6.21% | -177.57% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
55 Neutral | $68.54M | -5.19 | -61.26% | ― | 126.27% | -51.95% | |
52 Neutral | $693.48M | -23.12 | -3.36% | 2.66% | -4.59% | -125.50% | |
49 Neutral | $209.91M | -3.18 | -77.23% | 3.48% | -3.46% | -222.37% | |
39 Underperform | $324.07K | ― | ― | ― | 19.51% | 29.43% |
FlexShopper Corporate Events
On September 30, 2025, Flex Revolution, LLC, a subsidiary of FlexShopper, entered into a Forbearance and Sixth Amendment to its Credit Agreement with BP Fundco, LLC. This amendment allows Flex Revolution to continue operations until October 27, 2025, by extending the draw period and permitting over-advances up to $750,000. The amendment facilitates the sale of Basepoint’s collateral in an Article 9 UCC Sale scheduled for October 24, 2025, after which Flex Revolution will cease operations.
The most recent analyst rating on (FPAY) stock is a Buy with a $0.50 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
FlexShopper, through its subsidiary FlexShopper 2, LLC, is involved in a significant financial development concerning its credit agreement with Waterfall Asset Management. On August 12, 2025, the company received a notice of default under the Waterfall Credit Agreement, leading to a series of financial obligations becoming immediately due. Additionally, several key resignations occurred in late September 2025, including board members and the President and COO, indicating potential instability within the company’s leadership.
The most recent analyst rating on (FPAY) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
On September 18, 2025, FlexShopper received a deficiency letter from Nasdaq indicating that its common stock had closed below the $1.00 per share minimum for 30 consecutive business days, risking delisting from the Nasdaq Global Market. The company has until March 17, 2026, to regain compliance by meeting the minimum bid price requirement. If unsuccessful, FlexShopper may qualify for an additional compliance period by transferring to the Nasdaq Capital Market and meeting specific criteria. Previously, on April 17, 2025, the company was notified of non-compliance due to not filing its Annual Report on time and must submit required documents by October 13, 2025, to regain compliance.
The most recent analyst rating on (FPAY) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
FlexShopper, through its subsidiaries FlexShopper 2, LLC and FlexShopper, LLC, entered into a Limited Forbearance and Reaffirmation with Powerscourt Investments 50, LP, an affiliate of Waterfall Asset Management, LLC, on August 16, 2025. This agreement was part of an ongoing investigation into alleged misrepresentations related to borrowing base calculations, which were found to be materially overstated. The forbearance period was extended until September 3, 2025, but the agreement expired on that date. The company is actively negotiating a restructuring to address the borrowing base deficiency, as failure to do so could severely impact its operations. Additionally, the SEC has launched an investigation into potential fraudulent actions by former officers and employees, with which the company is cooperating.
The most recent analyst rating on (FPAY) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
On August 29, 2025, FlexShopper and its subsidiary, Flex Revolution, LLC, entered into a Forbearance and Fifth Amendment to their Credit Agreement with BP Fundco, LLC. This amendment allows the lender to forbear from taking action against Flex Revolution for failing to deliver required financial statements, extending the forbearance and draw periods until September 30, 2025, with conditions for further extension.
The most recent analyst rating on (FPAY) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
On August 18, 2025, FlexShopper 2, LLC and FlexShopper, LLC, subsidiaries of the company, along with Powerscourt Investments 50, LP, entered into a Limited Forbearance and Reaffirmation agreement. The Administrative Agent extended the Forbearance Period to September 3, 2025, or until any additional default events occur, maintaining the agreement’s terms otherwise unchanged.
The most recent analyst rating on (FPAY) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
FlexShopper, through its subsidiary FlexShopper 2, LLC, entered into a Credit Agreement with Powerscourt Investments 50, LP and other parties, which has been amended multiple times since its inception on March 27, 2024. The most recent amendment on August 18, 2025, allows for interim financing to address the company’s immediate working capital needs, indicating a strategic move to stabilize its financial operations.
The most recent analyst rating on (FPAY) stock is a Sell with a $0.50 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
FlexShopper 2, LLC, a subsidiary of FlexShopper, faced financial challenges as it received a Notice of Events of Default on August 12, 2025, due to misrepresentations in financial statements and false information provided to its lenders. In response, FlexShopper entered into a Forbearance Agreement on August 18, 2025, with its administrative agent and lenders, agreeing to refrain from exercising rights and remedies under the Credit Agreement until August 22, 2025, while exploring long-term financing solutions.
The most recent analyst rating on (FPAY) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
FlexShopper, Inc. has filed a Form 12b-25 to notify the delay in submitting its Form 10-Q (Quarter Report) for the period ending June 30, 2025. The delay is primarily due to an ongoing independent investigation into potential fraudulent actions by certain officers and employees, which has affected the company’s ability to file the report on time. The company anticipates filing the delayed reports as soon as practicable but has not provided a specific timeline. FlexShopper has indicated that significant changes in financial results are expected, and investors are advised not to rely on previous earnings releases or communications. The notification was signed by John Davis, President and COO, who emphasized the company’s commitment to resolving the issues and maintaining compliance.
The most recent analyst rating on (FPAY) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
On August 6, 2025, FlexShopper‘s Board of Directors terminated the employment of their CEO and CFO, H. Russell Heiser Jr., with John Davis assuming the role of principal executive officer. Subsequently, on August 11, 2025, FlexShopper engaged North Country Capital LLC for interim management and restructuring advisory services, appointing Matthew A. Doheny as Chief Restructuring Officer. Doheny brings extensive financial and restructuring expertise, with a history of leading significant restructurings and serving in various high-level financial positions.
The most recent analyst rating on (FPAY) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
On July 31, 2025, FlexShopper, through its subsidiary Flex Revolution LLC, entered into a Forbearance and Fourth Amendment to its Credit Agreement with BP Fundco, LLC. This amendment allows the company to delay the delivery of required financial statements and extends the draw period under the credit facility until August 30, 2025. Additionally, on the same date, the company’s Board of Directors suspended H. Russell Heiser Jr. as CEO and CFO, with John Davis assuming the role of principal executive officer.
The most recent analyst rating on (FPAY) stock is a Buy with a $2.00 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.
On July 27, 2025, Denis Echtchenko resigned from the Board of Directors of FlexShopper, Inc., with the company disagreeing with his reasons for stepping down. Echtchenko’s resignation was followed by the appointment of Steven Varner, a seasoned executive with extensive experience in financial and operational roles, as his successor. Varner’s appointment aligns with the Investor Rights Agreement with B2 FIE, which allows them to nominate a director as long as they maintain a certain ownership percentage. This change in the board is expected to help FlexShopper navigate its current challenges.
The most recent analyst rating on (FPAY) stock is a Buy with a $2.00 price target. To see the full list of analyst forecasts on FlexShopper stock, see the FPAY Stock Forecast page.