FlexShopper partners with ICON Vehicle Dynamics to offer lease-to-own financing for off-road performance parts, enhancing customer accessibility.
Quiver AI Summary
FlexShopper, Inc. has announced a strategic partnership with ICON Vehicle Dynamics to offer lease-to-own (LTO) payment solutions for premium off-road vehicle upgrades and components. This collaboration allows ICON's customers to purchase high-quality performance parts with flexible weekly payment options and no credit necessary, enhancing accessibility for automotive enthusiasts. FlexShopper's advanced technology platform supports this initiative, enabling customers to upgrade their vehicles without compromising on quality or budget. In related news, FlexShopper is working to regain compliance with Nasdaq listing standards after failing to timely file its quarterly and annual reports. The company intends to submit a compliance plan by June 16, 2025, and may receive an extension to rectify the situation.
Potential Positives
- FlexShopper has entered a strategic partnership with ICON Vehicle Dynamics, enhancing its market presence in the automotive sector by providing LTO financing solutions to customers seeking performance upgrades.
- The partnership allows ICON's customers to access high-quality off-road parts with flexible payment options, thereby increasing customer satisfaction and potential sales volume for both companies.
- FlexShopper’s LTO solutions can attract a new customer base of automotive enthusiasts who value quality and financial accessibility, potentially driving revenue growth.
Potential Negatives
- The company is currently non-compliant with Nasdaq listing standards due to late filings of crucial financial reports, which may impact investor confidence and stock performance.
- FlexShopper has a limited timeline to submit a plan to regain compliance, adding pressure on the company to rectify its reporting issues quickly.
- Failure to regain compliance could lead to a delisting from Nasdaq, which would significantly affect the company's visibility and ability to attract investment.
FAQ
What is the new partnership announced by FlexShopper?
FlexShopper has partnered with ICON Vehicle Dynamics to provide lease-to-own financing for performance vehicle parts.
How does FlexShopper's financing work for ICON customers?
ICON customers can access high-quality off-road performance parts with flexible weekly payments and no credit needed.
What benefits does the partnership offer to automotive enthusiasts?
The partnership enhances buying power and makes premium vehicle upgrades more accessible and affordable for customers.
Where can consumers access FlexShopper’s lease-to-own options?
These financing options are available at ICON's website and participating retail partners.
What is FlexShopper's commitment regarding Nasdaq compliance?
FlexShopper aims to regain compliance with Nasdaq's listing standards and will file necessary reports as soon as possible.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FPAY Insider Trading Activity
$FPAY insiders have traded $FPAY stock on the open market 7 times in the past 6 months. Of those trades, 7 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $FPAY stock by insiders over the last 6 months:
- HOWARD DVORKIN has made 6 purchases buying 179,397 shares for an estimated $238,377 and 0 sales.
- HAROLD RUSSELL JR. HEISER (CEO) purchased 30,000 shares for an estimated $43,500
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FPAY Hedge Fund Activity
We have seen 6 institutional investors add shares of $FPAY stock to their portfolio, and 14 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BENCHMARK FINANCIAL WEALTH ADVISORS, LLC removed 189,977 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $324,860
- RENAISSANCE TECHNOLOGIES LLC removed 102,302 shares (-36.1%) from their portfolio in Q1 2025, for an estimated $130,946
- GEODE CAPITAL MANAGEMENT, LLC added 99,360 shares (+77.6%) to their portfolio in Q1 2025, for an estimated $127,180
- CITADEL ADVISORS LLC removed 63,646 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $81,466
- XTX TOPCO LTD added 25,604 shares (+inf%) to their portfolio in Q1 2025, for an estimated $32,773
- VIRTU FINANCIAL LLC removed 17,693 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $22,647
- TRAPHAGEN INVESTMENT ADVISORS LLC removed 17,300 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $22,144
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
BOCA RATON, Fla., May 29, 2025 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq: FPAY) (“FlexShopper”), a leading provider of lease-to-own (LTO) payment solutions, is pleased to announce a new strategic partnership with ICON Vehicle Dynamics, a premier manufacturer of performance suspension systems and off-road vehicle components. This collaboration brings FlexShopper's innovative LTO financing directly to ICON's customers, making premium vehicle upgrades more accessible and affordable.
ICON’s customers now have the ability to obtain high-quality off-road performance parts and accessories with flexible weekly payments, no credit needed, and a straightforward approval process-powered by FlexShopper's advanced underwriting and technology platform.
“We are excited to provide ICON’s customers with flexible payment options for the products they need and want,” said Russ Heiser, CEO of FlexShopper. "Partnering with a respected industry leader like ICON enables us to serve a passionate community of automotive enthusiasts while enhancing their buying power."
Founded on a commitment to innovation and performance, ICON designs and manufactures state-of-the-art suspension systems and components for trucks, SUVs, and Jeeps. Their products are engineered for superior ride quality, strength, and durability-built to conquer rugged terrain while maintaining excellent on-road performance.
By offering LTO solutions through FlexShopper, ICON enhances the buying experience for customers seeking to build or upgrade their vehicles with top-tier components. The addition of LTO financing aligns with ICON's commitment to delivering high-performance products and services, giving more drivers the opportunity to equip their vehicles without compromising on quality or budget.
FlexShopper’s LTO option is now available at http://www.iconvehicledynamics.com and participating retail partners.
For more information on FlexShopper's LTO solutions, visit http://www.flexshopper.com .
Mr. Heiser, continued, “We are actively working to regain compliance with Nasdaq’s listing standards as soon as practicable. We remain committed to transparency and strong financial reporting as we continue to execute on our business strategy.”
10-Q Filing and Nasdaq Compliance
On May 22, 2025, the Company received a notice from the Nasdaq Listing Qualifications staff of Nasdaq indicating that, as a result of not having timely filed its Form 10-Q for the quarterly period ended March 31, 2025, and because the Company remains delinquent in filing its Form 10-K for the year ended December 31, 2024 (the “Initial Delinquent Filing”), the Company does not comply with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission.
The Company intends to file its Form 10-K for the year ended December 31, 2024 and its Form 10-Q for the quarter ended March 31, 2025 as soon as practicable. The Company has until June 16, 2025 to submit a plan to regain compliance with respect to these delinquent reports. If Nasdaq accepts the Company's plan, then Nasdaq may, at its discretion, grant the Company up to 180 additional calendar days from the due date of the Initial Delinquent Filing, or October 13, 2025, to regain compliance. In determining whether to accept the plan, Nasdaq will consider such things as the likelihood that the Filing, along with any subsequent periodic filing that will be due, can be made within the 180 day period, the Company’s past compliance history, the reasons for the late filing, other corporate events that may occur within its review period, the Company’s overall financial condition and its public disclosures. If Nasdaq does not accept the Company’s plan, then the Company will have the opportunity to appeal that decision to a Nasdaq Hearings Panel .
About FlexShopper
FlexShopper, Inc. is a leading national financial technology company that offers innovative payment options to consumers. FlexShopper provides a variety of flexible funding options for underserved consumers through its direct-to-consumer online marketplace at Flexshopper.com and in partnership with merchants both online and at brick-and-mortar locations. FlexShopper’s solutions are crafted to meet the needs of a wide range of consumer segments through lease-to-own and lending products.
Company Contact:
FlexShopper, Inc.
Investor Relations
[email protected]
Investor and Media Contact:
Andrew Berger
Managing Director
SM Berger & Company, Inc.
Tel (216) 464-6400
[email protected]
