Flexshopper, inc. (FPAY)
Income statement / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenues:
Lease revenues and fees, net

87,244

85,331

81,296

73,638

66,842

59,219

57,829

59,364

62,622

65,412

63,466

59,394

53,543

46,513

39,510

32,735

26,445

20,131

15,380

11,428

7,776

4,269

2,015

669

99

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Lease merchandise sold

3,656

3,458

3,052

2,877

2,601

2,269

2,052

1,921

1,758

1,634

1,493

1,388

1,283

1,066

904

756

656

548

746

905

905

744

391

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Total revenues

90,901

88,789

84,348

76,516

69,444

61,489

0

0

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net revenues

-

-

-

-

-

-

-

-

-

-

-

-

54,827

-

40,414

33,492

27,101

20,680

16,126

12,334

8,682

5,014

2,406

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Costs and expenses:
Cost of lease revenues, consisting of depreciation and impairment of lease merchandise

58,858

57,939

54,741

50,782

45,509

40,639

36,404

34,260

33,400

31,453

30,651

28,030

25,505

22,734

20,451

17,686

14,260

10,752

8,529

6,644

4,865

2,731

1,319

444

48

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Cost of lease merchandise sold

2,347

2,282

1,937

1,828

1,654

1,423

1,190

1,121

1,022

998

1,005

908

820

687

584

459

383

314

495

660

704

599

332

110

3

0

0

0

0

-

-

-

-

-

-

-

-

-

-

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

19,135

18,378

17,197

15,632

13,281

11,183

9,354

7,389

5,647

4,511

3,291

2,194

1,380

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Marketing

3,831

3,649

5,052

5,780

6,726

7,046

7,494

6,892

6,451

6,094

6,632

8,079

9,530

10,193

7,111

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Salaries and benefits

9,260

8,469

8,382

8,380

8,374

8,796

8,693

8,407

8,273

7,862

7,215

6,837

6,383

5,946

5,396

0

0

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating expenses

-11,920

-11,345

-10,754

-10,242

-9,319

-8,761

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other operating expenses

-

-

-

-

-

-

-

-

-

-

-

-

5,658

5,064

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

FINANCE REVENUES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,526

2,456

2,340

2,359

2,404

2,552

2,639

0

0

0

INTEREST EXPENSE - financial institution

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

454

457

446

442

500

581

648

0

0

0

INTEREST EXPENSE - related parties

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

16

84

134

0

0

0

NET FINANCE REVENUES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,057

1,983

1,889

1,903

1,887

1,886

1,856

0

0

0

PROVISION FOR CREDIT LOSSES, net of recoveries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

41

43

-2

12

11

0

0

0

-

-

(PROVISION) BENEFIT FOR CREDIT LOSSES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

FINANCE REVENUES, NET OF INTEREST EXPENSE AND CREDIT LOSSES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,015

1,940

1,891

1,891

1,875

1,887

1,855

0

0

0

Operating expenses

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

7,092

7,531

6,021

5,171

0

0

0

-

-

-

-

1,636

1,601

1,601

1,596

1,596

1,580

1,616

0

0

0

Total costs and expenses

86,219

83,685

80,868

77,014

71,584

66,667

67,122

68,220

71,397

73,208

70,706

67,461

63,531

57,908

50,745

43,532

35,792

28,683

22,653

18,127

13,785

9,882

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating income

4,682

5,104

3,480

-498

-2,140

-5,178

-7,240

-6,934

-7,016

-6,162

-5,747

-6,678

-8,703

-10,328

-10,331

-10,039

-8,690

-8,003

-6,526

-5,793

-5,103

-4,868

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on extinguishment of debt

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest expense including amortization of debt issuance costs

4,340

4,310

4,381

4,381

4,404

4,156

3,597

3,039

2,545

2,168

2,091

2,046

1,990

1,925

1,867

1,695

1,406

994

579

292

85

7

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-8,997

-7,105

-6,085

-5,188

-4,875

0

0

0

-

-

-

-

378

339

290

294

279

307

0

0

0

-

Cost of revenue, Total

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

GROSS PROFIT

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

GENERAL AND ADMINISTRATIVE EXPENSES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Provision for income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-78

-175

-227

-407

-458

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

Loss from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-8,918

-6,930

-5,857

-4,781

-4,417

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations consisting of gain from sale of discontinued operations, net of income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

127

213

298

603

687

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

LOSS FROM CONTINUING OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

279

307

238

0

0

0

INCOME (LOSS) FROM DISCONTINUED OPERATIONS (including income from the sale of discontinued assets of $445,474 in 2014 ) (See note 3)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

LOSS FROM DISCONTINUED OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-4

124

-566

0

0

0

LESS: NONCONTROLLING INTEREST SHARE

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Net income/(loss)

-

-

-901

-5,006

-

-9,461

-10,964

-9,974

-9,562

-8,330

-7,838

-8,724

-10,694

-12,253

-12,198

-11,735

-10,011

-8,791

-6,717

-5,559

-4,177

-3,730

-2,831

-2,104

-1,693

-693

-164

211

395

378

0

0

0

-

-

-

-

0

0

Dividends on Series 2 Convertible Preferred Shares

2,438

2,437

2,437

2,436

2,432

2,426

2,421

2,415

2,371

2,316

2,261

2,206

1,760

1,211

663

114

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deemed dividend from exchange offer of warrants

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss attributable to common shareholders

-3,026

-1,860

-3,338

-7,443

-9,103

-11,888

-13,385

-12,390

-11,933

-10,647

-10,100

-10,931

-12,455

-13,465

-11,572

-10,219

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Basic and diluted (loss) per common share:
Basic and diluted

-0.06

-

-

-0.05

-0.01

-

-

-0.48

-0.55

-0.87

-0.44

-0.40

-0.30

-0.77

-0.60

-0.70

-0.50

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1.31

-0.41

-0.04

-0.04

-0.04

-0.03

-0.03

-0.05

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.00

0.00

0.01

0.01

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1.31

-0.41

-0.04

-0.04

-0.04

-0.03

-0.02

-0.04

-

-

-

-

-

-

-

-

-

-

-

-

-

-

LOSS FROM CONTINUING OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

-

-

-

-

-

-

-

-

-

-

NET INCOME

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

431

-328

0

0

0

Basic

-

-

0.04

-

-

-

-0.56

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

-

-

-

-

0.00

0.00

0.01

0.00

0.00

-

LOSS FROM DISCONTINUED OPERATIONS (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.01

-0.03

NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.01

0.01

0.00

0.00

0.00

0.01

0.00

0.01

-0.03

Diluted

-

-

0.04

-

-

-

-0.56

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

-

-

-

-

0.00

0.00

0.01

0.00

0.00

-

INCOME FROM DISCOUNTINUED OPERATIONS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

-

-

-

-

-

-

-

-

-

-

LOSS FROM DISCONTINUED OPERATIONS (in dollars per share)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.01

-0.03

NET LOSS ATTRIBUTABLE TO COMMON SHAREHOLDERS

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.00

0.01

0.01

0.00

0.00

0.00

0.01

0.00

0.01

-0.03

WEIGHTED AVERAGE COMMON SHARES:
Basic and diluted

19,903

-

-

17,666

17,650

-

-

5,368

5,294

5,293

5,292

5,290

5,287

5,287

5,276

5,223

5,210

-76,352

5,203

52,019

38,604

-

-

-

21,148

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Basic

-

-

17,666

-

-

-

5,950

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,128

24,676

-

-

18,634

18,634

18,634

19,505

18,634

17,763

18,634

21,246

17,763

17,763

17,763

18,616

18,580

Diluted

-

-

19,798

-

-

-

5,950

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32,128

24,676

-

-

18,634

20,739

20,691

21,178

20,843

20,516

20,516

20,347

20,572

20,572

20,572

20,516

18,580