FlexShopper, Inc. Reports Full Year 2016 Results and 130% Revenue Growth
Year Ended
- Total revenues increased 130% from
$20.7 million to $47.6 million - Lease originations increased 86% from 47,154 to 87,915
- Loss from continuing operations increased 37% from
$8.9 million to $12.3 million
2016 and Recent Developments
- More than 40,000 leases originated during strong fourth quarter holiday season
$22 million equity capital raise primarily from a global institutional investor to fuel FlexShopper’s continued growth- Appointed
Cornell Caldwell , formerly of ShopRunner,Paypal andHSBC , as Vice President of Strategic Partnerships to increase e-retailers' adoption of our LTO payment method - Ranked the 18th fastest growing mobile e-commerce company as part of Internet Retailer's 2017 Mobile 500® report.
About
Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995. Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our most recently filed Annual Report on Form 10-K and our subsequently filed Quarterly Reports on Form 10-Q. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
IR Contacts:FlexShopper, Inc. Investor Relations ir@flexshopper.com