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BOCA RATON, Fla. - FlexShopper, Inc. (NASDAQ:FPAY), a financial technology company offering lease-to-own (LTO) payment solutions with a market capitalization of $32.24 million, has announced a strategic partnership with ICON Vehicle Dynamics, a manufacturer of performance suspension systems and off-road vehicle components. According to InvestingPro analysis, FlexShopper appears undervalued at current levels, with analysts projecting positive net income growth for the year ahead. This collaboration makes ICON’s high-quality vehicle parts available through FlexShopper’s LTO financing options.
ICON customers can now access off-road performance parts and accessories with flexible weekly payments, without the need for credit, facilitated by FlexShopper’s technology platform. Russ Heiser, CEO of FlexShopper, expressed enthusiasm about providing ICON’s clientele with flexible payment solutions, enhancing their purchasing power.
The partnership is seen as a move to broaden the customer base for ICON’s products, which are known for their advanced engineering and durability, designed to handle rugged terrain while ensuring on-road performance. The availability of LTO financing through FlexShopper aims to improve the buying experience for customers looking to upgrade their vehicles with premium components, without financial strain. The company’s strong revenue growth of 19.51% and healthy current ratio of 7.1 suggest solid operational execution, though InvestingPro data reveals 8 additional key insights about the company’s financial health and growth prospects.
FlexShopper’s LTO financing is now accessible via ICON’s website and select retail partners. This initiative is part of FlexShopper’s broader strategy to expand its services and offer innovative payment solutions to a diverse range of consumers.
In addition to the partnership news, FlexShopper is working to regain compliance with Nasdaq’s listing standards. The company received a notice from the Nasdaq Listing Qualifications staff on May 22, 2025, regarding its non-compliance due to delayed filings of its Form 10-Q for the quarter ended March 31, 2025, and the Form 10-K for the year ended December 31, 2024. Investors should note that the company’s next earnings report is scheduled for May 29, 2025, which could be crucial for its compliance efforts. For deeper insights into FlexShopper’s financial health and compliance risks, consider accessing the comprehensive Pro Research Report available on InvestingPro. FlexShopper plans to submit a compliance plan by June 16, 2025, and if accepted by Nasdaq, may receive an extension until October 13, 2025, to file the delinquent reports and regain compliance.
FlexShopper, Inc. specializes in providing a range of funding options for consumers with limited access to traditional credit, operating through its online marketplace and in partnership with various retail outlets. This information is based on a press release statement from FlexShopper, Inc.
In other recent news, FlexShopper reported its fourth-quarter 2024 operating results, which revealed higher gross margins and reduced operating expenses, resulting in better-than-expected profitability despite revenues falling short of expectations. The company provided an optimistic outlook for 2025, projecting a gross profit range of $90.0 million to $100.0 million and an adjusted EBITDA between $40.0 million and $45.0 million, surpassing previous estimates. Analyst Scott Buck from H.C. Wainwright maintained a Buy rating on FlexShopper, with a price target of $2.50, citing improvements in asset quality and operating leverage as key factors in the company’s enhanced profitability. FlexShopper’s ongoing rights offering and patent litigation are highlighted as potential catalysts for the stock in 2025. The rights offering is intended to redeem 91.0% of the outstanding Series 2 Preferred Stock, which could positively impact earnings and simplify the capital structure. Despite a decline in share value, these developments are seen as fostering investor optimism.
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