FlexShopper Reports Record Gross Lease Originations During Holiday Season in December (up 27.5%)
- Gross lease purchases increased 22.5% to
$18.9 million in Q4 2017 from$15.4 million in Q4 2016. - Lease origination growth was achieved with a 13% decrease in Q4 marketing spend versus last year reflecting increased marketing optimization.
- FlexShopper’s enhanced underwriting model increased lease approval rates by 27%, also contributing to the Company’s lease origination growth.
- Our automated digital pay per click (PPC) advertising platform, FLEX-AADS, enabled us to scale in PPC resulting in 177% more approvals in this channel in Q4 2017 vs. Q4 2016.
Management Commentary
About FlexShopper
Forward-Looking Statements
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 the Company’s most recently filed Annual Report on Form 10-K and its subsequently filed Quarterly Reports on Form 10-Q. The Company urges you to consider those risks and uncertainties in evaluating its forward-looking statements. The Company cautions 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, the Company disclaims 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 its expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
Contact:
Senior Associate
The
212-836-9626
jhellman@equityny.com
Investor Relations
ir@flexshopper.com