FlexShopper Shares Jump On Holiday Season Success, Clocks 45% Increase In December New Customer Applications

FlexShopper, Inc. FPAY shares are escalating on Monday after the company reported strong fourth quarter 2024 and holiday season results.

The results reflect the transformation underway due to FlexShopper’s direct-to-consumer (DTC) and business-to-business (B2B) growth strategies.

Total lease application volume increased by 8% year-over-year, while Marketplace marketing costs per new customer decreased by 22% Y/Y.

New customer originations in FlexShopper’s Revolution Loan business grew by 52% Y/Y.

FlexShopper reported record lease originations, with overall originations up 35% and marketplace originations up 42% year-over-year, while maintaining disciplined underwriting.

December 2024 saw a 45% year-over-year increase in new customer applications, with a 34% rise on the flexshopper.com marketplace.

Marketing costs per new customer dropped over 40%, reducing digital marketing spend by 34% while achieving 13% growth in new customers.

Russ Heiser, CEO of FlexShopper, stated he expects fourth-quarter 2024’s significant lease origination growth to contribute to strong financial results in 2025, with continued revenue and profitability growth driven by higher originations.

Price Action: FPAY shares are up 26.7% at $2.065 at the last check Monday.

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