Here are 1-2 brief analogies to describe FlexShopper (FPAY):

• A lease-to-own version of Affirm or Klarna.
• An Amazon for lease-to-own products.

• Lease-to-Own Financing: FlexShopper provides consumers with the ability to lease products like electronics, furniture, and appliances with an option to purchase, catering to those seeking flexible payment solutions.
• eCommerce Marketplace: The company operates an online platform where customers can browse and select a wide range of products available through their lease-to-own program.

FlexShopper (FPAY) Major Customers

FlexShopper primarily serves individual consumers directly through its online lease-to-own platform. The company offers a wide range of brand-name products, including electronics, furniture, appliances, and more, available via flexible weekly payment plans.

The categories of customers it serves include:

• Consumers with Limited or Non-Prime Credit: Individuals who may not qualify for traditional credit financing or prefer alternatives due to their credit history.
• Budget-Conscious Consumers Seeking Flexible Payment Options: Customers who prefer manageable weekly or monthly payment structures to avoid large upfront costs or traditional debt, allowing for better cash flow management.
• Consumers Seeking Immediate Access to Essential and Discretionary Household Goods: Individuals who need access to home furnishings, appliances, and electronics promptly but require a payment solution that accommodates their current financial situation.

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John Davis
Principal Executive Officer, President, Chief Operating Officer

Mr. Davis assumed the duties of principal executive officer for FlexShopper effective August 6, 2025, following the termination of the previous CEO and CFO. He has served as FlexShopper's Chief Operating Officer since November 2020. Previously, Mr. Davis was a consultant to the company through Woodlands Financial Advisory LLC, where he held the position of CEO. His background includes executive roles within a range of specialty finance consultancies and retailers, such as Conn's HomePlus, GFC Advisors Ltd., DFC Global Corp., MEM Consumer Finance, and CompuCredit Corp.

Matthew A. Doheny
Chief Restructuring Officer

Mr. Doheny was appointed Chief Restructuring Officer of FlexShopper on August 6, 2025, as the company engaged North Country Capital LLC for interim management and restructuring advisory services. He has been the President of North Country Capital since 2011. Mr. Doheny has extensive experience as a Chief Restructuring Officer, having served in this role for Yellow Corporation since 2021 and previously for MatlinPatterson Global Partners. His career includes involvement in various financial and operational restructurings, and he has held positions at Deutsche Bank Securities Inc., Fintech Advisory Ltd., and HSBC Securities Inc.

Brad Bernstein
Founder, President

Mr. Bernstein is the founder of FlexShopper. He previously served as the company's Chief Executive Officer until October 2019, when he transitioned to the role of President. In his capacity as President, Mr. Bernstein focuses on product development and new customer initiatives.

Howard S. Dvorkin
Chairman of the Board

Mr. Dvorkin serves as the Chairman of the Board for FlexShopper.

FlexShopper (FPAY) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

1. Expansion of B2B Partnerships and Retail Locations: FlexShopper is actively growing its business-to-business (B2B) channel by securing new enterprise-level partnerships and increasing its physical retail presence. The company reported a significant increase in signed retail locations, reaching approximately 7,800, which represents a nearly 250% increase from year-end 2023. This expansion allows FlexShopper to reach a broader customer base through its retail partners.
2. Growth of the FlexShopper.com Marketplace and Online Retail Strategy: A core driver is the continued development and growth of its direct-to-consumer (DTC) e-commerce platform, FlexShopper.com. The company is focused on an online retail strategy that generates product margin revenue from goods sold directly on its marketplace. This includes continuously adding more SKUs and expanding product categories, such as personal luxury items, to capture a larger share of consumer spending.
3. Broadening Payment Solutions and Addressable Market: FlexShopper is expanding its marketplace to offer a wider array of payment solutions beyond its traditional lease-to-own options, including unsecured loans and partnerships with additional payment solution providers. This strategy aims to serve a larger demographic of credit-challenged consumers and increase conversions of website traffic that might otherwise be lost.
4. Improved Asset Quality and Underwriting: The company has implemented strategies to enhance asset quality and tighten underwriting policies. This focus has led to a significant improvement in the provision for doubtful accounts, which, while not a direct revenue driver, supports sustainable growth by reducing losses and enabling more confident expansion of lease originations.
5. Strategic Marketing Investments: FlexShopper is increasing its marketing expenditures to strategically ramp up its marketing efforts. These investments are aimed at driving growth in total lease fundings and expanding retail revenue by attracting new customers to the platform.

Share Repurchases

• In May 2023, FlexShopper's board authorized a share repurchase program for up to $2 million of common stock over an 18-month period.
• As of May 2025, approximately $700,000 has been utilized to repurchase over 525,000 shares under the authorized program.
• In October 2024, FlexShopper announced plans to redeem 91% of its Series 2 Preferred Stock at more than a 50% discount from its second-quarter 2024 liquidation preference of about $43 million.

Share Issuance

• In the fourth quarter of 2024, FlexShopper launched a share rights offering at $1.70 per share.
• The initial stage of this rights offering, which closed in January 2025, raised $9.4 million in gross proceeds from the conversion of 5.55 million units.
• A holder of subordinated debt converted $2.5 million of principal to equity as part of the rights offering.

Inbound Investments

• A new credit facility was secured, enhancing funding capacity to $150 million as of April 2024, which was further raised to $200 million in April 2025.
• The conversion of $2.5 million of subordinated debt to equity by NRNS Capital Holdings LLC, whose manager is the Chairman of FlexShopper's Board, improved the company's capital structure.

Outbound Investments

• In late 2022, FlexShopper purchased the assets of Revolution Financial, Inc., which enabled the creation of a direct origination model for consumers in 11 states.
• FlexShopper purchased $31 million in loan participations in 2022.

Capital Expenditures

• Capital expenditures were approximately $6.73 million in fiscal year 2024, $1.09 million in 2023, $1.26 million in 2022, and $1.25 million in 2021.
• FlexShopper's capital expenditures margin peaked at 4.8% in December 2024.
• The company has been investing in its leadership team, technology stack, and fraud prevention initiatives.