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FlexShopper updates FY'19 guidance

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FlexShopper updates FY'19 guidance

FlexShopper Inc. updated its outlook for full-year 2019 gross revenue, gross lease originations, gross profit and adjusted EBITDA.

The company now expects gross revenue for the full year to reach more than $112 million, compared with its prior guidance of over $110 million. Gross lease originations are anticipated to exceed $72 million, up from the previous guidance of over $70 million.

Gross profit for 2019 is projected to exceed $26.5 million, while adjusted EBITDA is anticipated to reach more than $5.0 million. FlexShopper previously anticipated 2019 gross profit of over $25.5 million and adjusted EBITDA of $4.0 million.

The company reported net loss attributable to common shareholders of $919,228, or 5 cents per share, for the three months ended June 30.