FlexShopper received a Nasdaq deficiency notice for failing to timely file its Q2 2025 Form 10-Q.
Quiver AI Summary
FlexShopper, Inc. announced that it received a deficiency notification from Nasdaq indicating that it failed to comply with a listing rule by not timely filing its Quarterly Report on Form 10-Q for the quarter ending June 30, 2025. This issue stems from an earlier notification concerning the late filing of its Form 10-K for 2024 and its Form 10-Q for the first quarter of 2025. Nasdaq has granted FlexShopper an extension until October 13, 2025, to address these delinquent filings, but FlexShopper must now submit an updated plan for regaining compliance. The delays in filings have been attributed to additional accounting and internal control processes. FlexShopper emphasized its commitment to submitting the required reports as soon as possible, albeit without guaranteeing specific timelines.
Potential Positives
- FlexShopper is actively working to regain compliance with Nasdaq listing requirements, indicating their commitment to transparency and regulatory adherence.
- The company has been granted an additional time frame by Nasdaq to address delinquent filings, which suggests ongoing monitoring and support from the exchange.
- FlexShopper continues to emphasize its role as a financial technology company specializing in solutions for underserved consumers, reinforcing its market position and purpose.
Potential Negatives
- FlexShopper has received a deficiency notification from Nasdaq due to failure to timely file its Quarterly Report on Form 10-Q, indicating potential regulatory compliance issues.
- The company is on notice that it must submit an updated plan to regain compliance within a limited timeframe, creating uncertainty regarding its listing status.
- The repeated delays in filing periodic reports may reflect ongoing financial or operational challenges, which could negatively impact investor confidence.
FAQ
What notification did FlexShopper receive from Nasdaq?
FlexShopper received a deficiency notification for not timely filing its Q2 2025 Form 10-Q.
What is FlexShopper's plan to regain compliance with Nasdaq?
FlexShopper must submit an update to its plan to regain compliance by October 13, 2025.
Why was the Q2 2025 Form 10-Q filing delayed?
The filing was delayed to complete customary accounting and internal control processes.
What exceptions were previously granted to FlexShopper by Nasdaq?
Nasdaq granted FlexShopper an exception to file its 2024 Form 10-K and Q1 2025 Form 10-Q by October 13, 2025.
How does FlexShopper serve underserved consumers?
FlexShopper offers lease-to-own and lending solutions through its marketplace and retail partnerships.
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 4 times in the past 6 months. Of those trades, 4 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 4 purchases buying 159,397 shares for an estimated $208,377 and 0 sales.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FPAY Hedge Fund Activity
We have seen 12 institutional investors add shares of $FPAY stock to their portfolio, and 11 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BESSEMER GROUP INC added 100,000 shares (+inf%) to their portfolio in Q2 2025, for an estimated $120,000
- PERIGON WEALTH MANAGEMENT, LLC removed 100,000 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $120,000
- RENAISSANCE TECHNOLOGIES LLC added 43,002 shares (+23.8%) to their portfolio in Q2 2025, for an estimated $51,602
- HERON BAY CAPITAL MANAGEMENT removed 31,084 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $37,300
- CITADEL ADVISORS LLC added 28,799 shares (+inf%) to their portfolio in Q2 2025, for an estimated $34,558
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 26,448 shares (+inf%) to their portfolio in Q2 2025, for an estimated $31,737
- BLACKROCK, INC. added 26,013 shares (+inf%) to their portfolio in Q2 2025, for an estimated $31,215
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$FPAY Analyst Ratings
Wall Street analysts have issued reports on $FPAY in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- HC Wainwright & Co. issued a "Buy" rating on 04/24/2025
To track analyst ratings and price targets for $FPAY, check out Quiver Quantitative's $FPAY forecast page.
Full Release
BOCA RATON, Fla., Aug. 27, 2025 (GLOBE NEWSWIRE) -- FlexShopper, Inc. (Nasdaq: FPAY) today announced that it received a deficiency notification letter from the Listing Qualifications Staff of The Nasdaq Stock Market LLC on August 21, 2025 (the “Notice”). The Notice indicated that FlexShopper does not comply with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) for continued listing of its common stock as a result of its failure to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2025 (the “Q2 2025 Form 10-Q”), as described more fully in FlexShopper’s Form 12b-25 Notification of Late Filing (the “Form 12b-25”) filed with the Securities and Exchange Commission on August 15, 2025. The Listing Rule requires Nasdaq-listed companies to timely file all required periodic reports with the SEC.
Previously, the Nasdaq Listing Qualifications Staff granted FlexShopper an exception until October 13, 2025 to file its delinquent Form 10-K for the year ended December 31, 2024 (the “2024 Form 10-K”) and its Form 10-Q for the quarter ended March 31, 2025 (the “Q1 2025 Form 10-Q”). As a result, any additional Nasdaq exception to allow FlexShopper to regain compliance with all delinquent filings will be limited to a maximum of 180 calendar days from the due date of the Initial Delinquent Filing, or October 13, 2025. With this additional delinquency, FlexShopper must submit an update to its original plan to regain compliance with respect to the filing requirement.
As previously disclosed, the filing of the Q2 2025 Form 10-Q was delayed due to the matters described in the Form 12b-25, including allowing FlexShopper sufficient time to complete its customary accounting and internal control processes and procedures. While FlexShopper can provide no assurance as to their timing, it will continue to work diligently to complete and file the 2024 Form 10-K, the Q1 2025 Form 10-Q and the Q2 2025 Form 10-Q as soon as practicable.
About FlexShopper, Inc.
FlexShopper Inc. (Nasdaq: FPAY) is a financial technology company specializing in lease-to-own (LTO) and lending solutions for underserved consumers across the U.S. FlexShopper provides flexible payment options through its direct marketplace at FlexShopper.com and partners with retailers across online and physical store locations.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally be identified by terms such as “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potentially,” or “will” or similar expressions and the negatives of those terms. These statements include, but are not limited to, statements relating to FlexShopper’s plans and expectations about the completion and filing of the periodic reports, its submission of a plan to regain compliance with respect to the Listing Rule, and the timing thereof. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to a number of risks and uncertainties, including but not limited to, uncertainties about the timing of FlexShopper’s submission of a compliance plan, Nasdaq’s acceptance of any such plan, the duration of any extension that may be granted by Nasdaq, the potential inability to meet Nasdaq’s requirements, FlexShopper’s preparation of the periodic reports and the related financial statements, the possibility of additional delays in the filing of the periodic reports, and the other risks and uncertainties described in FlexShopper’s SEC reports and under the heading “Risk Factors” in its most recent annual report on Form 10-K and quarterly reports on Form 10-Q, which are available at www.sec.gov . These forward-looking statements speak only as of the date of this press release. Except as required by law, FlexShopper does not undertake any obligation to update or revise its forward-looking statements to reflect events or circumstances after the date of this press release.
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]
Source: FlexShopper, Inc.
