FlexShopper, Inc. (FPAY) financial statements (2022 and earlier)

Company profile

Business Address 901 YAMATO ROAD
BOCA RATON, FL 33431
State of Incorp. DE
Fiscal Year End December 31
SIC 7359 - Equipment Rental and Leasing, Not Elsewhere Classified (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5,0958,5416,8686,1414,9695,4123,396
Cash and cash equivalents5,0958,5416,8686,1414,9695,4123,396
Receivables29,89910,0338,2726,3764,2592,182752
Prepaid expense958869672317321362237
Other undisclosed current assets40,94242,82231,06332,36521,41518,57011,204
Total current assets:76,89362,26546,87645,19930,96526,52715,590
Noncurrent Assets
Property, plant and equipment7,8415,9125,2603,3372,9482,5411,798
Intangible assets, net (including goodwill)     2023
Intangible assets, net (excluding goodwill)     2023
Regulated entity, other noncurrent assets    39  
Deposits noncurrent assets     6867
Other undisclosed noncurrent assets7872789156  
Total noncurrent assets:7,9195,9845,3393,4273,0442,6291,888
TOTAL ASSETS:84,81268,24952,21548,62634,00929,15617,477
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities11,36110,9076,45410,0468,8934,4732,523
Accounts payable7,9827,9084,5688,3177,7023,9181,784
Accrued liabilities2,9882,6471,3731,336786259487
Employee-related liabilities391352513393404296252
Debt1,2264,9841,09516,06714,094  
Other undisclosed current liabilities 1,177     
Total current liabilities:12,58717,0687,55026,11322,9874,4732,523
Noncurrent Liabilities
Long-term debt and lease obligation51,83739,08134,69714,0204,69810,1578,787
Long-term debt, excluding current maturities50,06237,13432,63014,0204,69810,1578,787
Operating lease, liability1,7751,9472,067
Liabilities, other than long-term debt495204     
Accounts payable and accrued liabilities 204     
Other liabilities495      
Other undisclosed noncurrent liabilities3,750742     
Total noncurrent liabilities:56,08240,02834,69714,0204,69810,1578,787
Total liabilities:68,66857,09542,24740,13427,68514,63011,309
Stockholders' equity
Stockholders' equity attributable to parent, including:16,14411,1549,9688,4936,32414,5266,168
Common stock2      
Additional paid in capital38,56036,84335,31434,07422,44622,29823,209
Accumulated deficit(45,222)(48,495)(48,155)(48,733)(39,271)(30,941)(18,687)
Other undisclosed stockholders' equity attributable to parent22,80422,80622,81023,15123,15023,1681,646
Total stockholders' equity:16,14411,1549,9688,4936,32414,5266,168
TOTAL LIABILITIES AND EQUITY:84,81268,24952,21548,62634,00929,15617,477

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues125,427102,08588,79084,72867,04647,58020,680
Revenue, net67,04647,58020,680
Operating leases, income statement, lease revenue82,459
Net investment income158,845128,870120,169    
Cost of revenue(46,177)(91,579)(80,036)(59,621)(30,030)(21,582)(16,715)
Gross profit:79,25010,5068,75425,10837,01725,9983,965
Operating expenses(71,885)(5,880)(3,649)(30,286)(43,179)(36,326)(12,456)
Other operating expense, net (14,405)(11,345)(8,762)   
Other undisclosed operating income 14,40511,3458,762   
Operating income (loss):7,3654,6265,104(5,178)(6,162)(10,329)(8,491)
Interest and debt expense(3,307) (4,310)(4,283)(2,168)(1,925)(506)
Income (loss) from continuing operations before equity method investments, income taxes:4,0584,626794(9,461)(8,331)(12,254)(8,997)
Other undisclosed loss from continuing operations before income taxes (4,303)     
Income (loss) from continuing operations before income taxes:4,058323794(9,461)(8,331)(12,254)(8,997)
Income tax expense (benefit)(785)(663)(216)   78
Other undisclosed loss from continuing operations(3,307)      
Income (loss) before gain (loss) on sale of properties:(34)(340)577(9,461)(8,331)(12,254)(8,919)
Other undisclosed net income3,307      
Net income (loss):3,273(340)577(9,461)(8,331)(12,254)(8,919)
Other undisclosed net income attributable to parent      128
Net income (loss) attributable to parent:3,273(340)577(9,461)(8,331)(12,254)(8,791)
Preferred stock dividends and other adjustments(2,439)(2,439)(2,438)(2,427)(2,316)(1,212) 
Other undisclosed net loss available to common stockholders, basic (713)     
Net income (loss) available to common stockholders, diluted:834(3,492)(1,860)(11,888)(10,647)(13,466)(8,791)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):3,273(340)577(9,461)(8,331)(12,254)(8,919)
Comprehensive income (loss), net of tax, attributable to parent:3,273(340)577(9,461)(8,331)(12,254)(8,919)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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