Private company
FlexShopper, Inc.
American equipment rental and leasing services company based in Boca Raton. Summary from the record
Last updated Oct 19, 2026.
Overview
- IndustryServices-Equipment Rental & Leasing, NEC2
- HeadquartersBoca Raton, United States2
- Incorporated inDE3
- Business address901 Yamato Road, Suite 260, Boca Raton, Fl 334313
- Filer categoryNon-accelerated filer, Smaller reporting company3
- Legal formLimited Liability Company2
- LEI254900RO37DFX31HZJ182
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O Corporation Service Company, 27608 Raleigh, United States2
- Registered withCorporations Division (Department of the Secretary of State), 13197742
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31, 2023, we generated approximately $132 million in gross lease revenues and fees.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2023
11.7%Operating margin5
-3.6%Net margin5
3.5%Revenue growth, 20235
-14.5%Return on equity5
-$13.0MFree cash flow5
Where the money goes
Where each dollar of revenue went, fiscal 2023
- Other costs83¢$97.1M
- Interest16¢$18.9M
- Income tax1¢$989.8K
Out of $117.0M in revenue.5 The company lost money this year.
Financial statements
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Revenue | $67.0M6 | $61.5M7 | $88.8M8 | $102.1M9 | $125.4M10 | $113.1M5 | $117.0M5 |
| Operating expenses | $118.1M10 | $119.4M5 | $103.3M5 | ||||
| Operating income | -$6.2M6 | -$5.2M7 | $5.1M8 | $4.6M9 | $7.4M10 | -$6.3M5 | $13.7M5 |
| Interest | $2.2M6 | $4.2M7 | $4.3M7 | $4.3M9 | $5.2M10 | $11.2M5 | $18.9M5 |
| Income before tax | $4.1M10 | -$3.0M5 | -$5.2M5 | ||||
| Income tax | $216.4K8 | $663.0K9 | $785.3K10 | -$16.6M5 | -$989.8K5 | ||
| Net income | -$8.3M6 | -$9.5M7 | $577.4K8 | -$339.9K9 | $3.3M10 | $13.6M5 | -$4.2M5 |
| Earnings per share | -$0.118 | -$0.179 | $0.0410 | $0.455 | -$0.385 | ||
| Earnings per share (diluted) | -$0.118 | -$0.179 | $0.0410 | $0.445 | -$0.385 | ||
| Shares (weighted, basic) | 21.4M shares10 | 21.6M shares5 | 21.7M shares5 | ||||
| Shares (weighted, diluted) | 23.2M shares10 | 22.4M shares5 | 21.7M shares5 |
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Cash | $5.0M7 | $6.1M8 | $6.9M8 | $8.5M8 | $5.0M10 | $6.1M5 | $4.4M5 |
| Receivables | $25.5M10 | $35.5M5 | $44.8M5 | ||||
| Current assets | $31.0M6 | $45.2M7 | $46.9M8 | $62.3M9 | $76.9M10 | $109.7M5 | $117.4M5 |
| Property, plant and equipment | $5.5M10 | $8.1M5 | $9.3M5 | ||||
| Intangible assets | $5.0K10 | $15.2M5 | $13.4M5 | ||||
| Total assets | $34.0M6 | $48.6M7 | $52.2M8 | $68.2M9 | $84.8M10 | $148.3M5 | $156.5M5 |
| Accounts payable | $8.0M10 | $6.5M5 | $7.1M5 | ||||
| Current liabilities | $23.0M6 | $26.1M7 | $7.5M8 | $17.1M9 | $12.6M10 | $12.2M5 | $12.1M5 |
| Total liabilities | $27.7M6 | $40.1M7 | $42.2M8 | $57.1M9 | $68.7M10 | $117.3M5 | $127.3M5 |
| Retained earnings | -$45.2M10 | -$31.6M5 | -$35.8M5 | ||||
| Shareholders’ equity | $6.3M7 | $8.5M8 | $10.0M9 | $11.2M10 | $16.1M5 | $31.0M5 | $29.2M5 |
| Shares outstanding | 5.3M shares6 | 17.6M shares7 | 17.8M shares8 | 21.4M shares9 | 21.4M shares10 | 21.8M shares5 | 21.8M shares5 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|
| Cash from operations | -$6.6M6 | -$18.2M7 | -$469.5K8 | -$5.2M9 | -$11.3M10 | -$31.2M5 | -$6.7M5 |
| Depreciation and amortization | $2.8M10 | $4.0M5 | $5.1M5 | ||||
| Stock-based compensation | $1.6M10 | $997.8K5 | $1.7M5 | ||||
| Capital spending | $2.0M6 | $2.3M7 | $2.2M8 | $3.1M9 | $4.1M10 | $6.5M5 | $6.3M5 |
| Free cash flow | -$8.6M | -$20.4M | -$2.7M | -$8.3M | -$15.3M | -$37.7M | -$13.0M |
| Cash from investing | -$4.9M10 | -$5.2M5 | -$7.6M5 | ||||
| Share buybacks | $166.8K5 | ||||||
| Cash from financing | $12.8M10 | $37.5M5 | $12.5M5 |
Leadership
Who has led FlexShopper, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
2010201520202025
- Chief executive officerHarold Russell Heiser Jr. Jul 10, 2023 to now13
- Chief executive officerRichard R. House Jr. Oct 15, 2019 to May 20, 202214
- Chief executive officerBrad Mitchell Bernstein Mar 3, 2016 to May 1, 201915
- Chief executive officerMorry Rubin Jun 29, 2007 to May 9, 201416
- PresidentIlissa Bernstein Mar 3, 2016 to Mar 3, 201615
- PresidentBrad Mitchell Bernstein Jun 29, 2007 to Jun 17, 202017
- Chief financial officerHarold Russell Heiser Jr. Dec 8, 2015 to May 26, 202218
- Chief financial officerFrank Matasavage Dec 31, 2014 to Dec 31, 201419
Board members and other officers (18)
- Executive VP of OperationsMarc Malaga May 12, 2017 to May 12, 201720
- Board memberPatrick Lloyd McCrory Jan 24, 2025 to now21
- Board memberDenis Echtchenko Aug 13, 2025 to now22
- Board memberSteven Varner Aug 21, 2025 to now23
- Board memberThomas O. Katz Jul 2, 2020 to now24
- Board memberHoward Dvorkin Jan 3, 2019 to now25
- Board memberSean Hinze Nov 14, 2018 to Nov 14, 201826
- Board memberJames Douglas Allen Mar 11, 2016 to now27
- Board memberDaniel Ballen Nov 22, 2016 to Nov 22, 201628
- Board memberKatherine Verner Nov 22, 2016 to Nov 19, 201829
- Board memberPhilip Michael Gitler Apr 1, 2015 to Apr 1, 201530
- Board memberCarl Pradelli Aug 6, 2014 to Jul 2, 202031
- Board memberPaul B. Healy Jun 21, 2012 to Jun 21, 201232
- Board memberE. Anthony Woods Jun 4, 2008 to Jun 4, 200833
- Board memberBrad Mitchell Bernstein Jun 29, 2007 to Feb 6, 202017
- Board memberFrank M. Delape Jun 29, 2007 to Dec 2, 200834
- Board memberKenneth L. Smalley Jun 29, 2007 to Jun 14, 201235
- Board memberMorry Rubin Jun 29, 2007 to May 9, 201416
Former names
- Anchor Funding Services, Inc.Apr 30, 2007 to Oct 22, 20133
Timeline
- Jul 10, 2023New chief executive Harold Russell Heiser Jr. becomes CEO13
- Oct 15, 2019New chief executive Richard R. House Jr. becomes CEO14
- Mar 3, 2016New chief executive Brad Mitchell Bernstein becomes CEO15
- May 24, 2013Founded FlexShopper, Inc. is founded2
- Jun 29, 2007New chief executive Morry Rubin becomes CEO16
Filings
184 filings to the SEC since October 2021: 6 annual reports, 10 quarterly reports, 53 major events, 92 insider forms, 2 large holders, 21 other. The latest 20:
- Oct 3, 20258-K CURRENT REPORT EDGAR
- Oct 1, 20258-K CURRENT REPORT EDGAR
- Sep 24, 20258-K CURRENT REPORT EDGAR
- Sep 18, 20258-K CURRENT REPORT EDGAR
- Sep 4, 20258-K CURRENT REPORT EDGAR
- Aug 25, 20258-K CURRENT REPORT EDGAR
- Aug 21, 20253 EDGAR
- Aug 20, 20258-K CURRENT REPORT EDGAR
- Aug 18, 20258-K CURRENT REPORT EDGAR
- Aug 15, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
- Aug 13, 20254 EDGAR
- Aug 13, 20253 EDGAR
- Aug 12, 20258-K CURRENT REPORT EDGAR
- Aug 5, 20258-K CURRENT REPORT EDGAR
- Jul 29, 20258-K CURRENT REPORT EDGAR
- Jul 14, 20258-K CURRENT REPORT EDGAR
- Jun 13, 20258-K CURRENT REPORT EDGAR
- May 16, 2025NT 10-Q NOTIFICATION OF LATE FILING EDGAR
- May 8, 20258-K CURRENT REPORT EDGAR
- May 5, 20254 EDGAR
The 184 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
79 open-market trades by officers, directors and large owners since October 2021: 79 buys and 0 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 1, 2025 | Dvorkin HowardDirector | Buy | 128,668 | $1.31 | $168.6K | Form 4 |
| Apr 25, 2025 | Dvorkin HowardDirector | Buy | 10,129 | $1.34 | $13.6K | Form 4 |
| Apr 24, 2025 | Dvorkin HowardDirector | Buy | 20,600 | $1.27 | $26.2K | Form 4 |
| Dec 27, 2024 | Dvorkin HowardDirector | Buy | 10,000 | $1.46 | $14.6K | Form 4 |
| Dec 26, 2024 | Dvorkin HowardDirector | Buy | 10,000 | $1.54 | $15.4K | Form 4 |
| Dec 23, 2024 | Heiser Harold Russell Jr.CEO | Buy | 30,000 | $1.45 | $43.5K | Form 4 |
| Aug 23, 2024 | Dvorkin HowardDirector | Buy | 6,900 | $1.10 | $7.6K | Form 4 |
| Aug 22, 2024 | Dvorkin HowardDirector | Buy | 16,200 | $1.17 | $19.0K | Form 4 |
| Aug 20, 2024 | Dvorkin HowardDirector | Buy | 3,381 | $1.16 | $3.9K | Form 4 |
| Aug 19, 2024 | Dvorkin HowardDirector | Buy | 10,000 | $1.17 | $11.7K | Form 4 |
| Aug 16, 2024 | Dvorkin HowardDirector | Buy | 18,370 | $1.14 | $20.9K | Form 4 |
| Aug 15, 2024 | Dvorkin HowardDirector | Buy | 5,192 | $1.12 | $5.8K | Form 4 |
| Aug 14, 2024 | Dvorkin HowardDirector | Buy | 4,613 | $1.08 | $5.0K | Form 4 |
| Aug 13, 2024 | Dvorkin HowardDirector | Buy | 26,756 | $1.06 | $28.4K | Form 4 |
| Jun 28, 2024 | Dvorkin HowardDirector | Buy | 9,800 | $1.26 | $12.3K | Form 4 |
| Jun 26, 2024 | Dvorkin HowardDirector | Buy | 10,524 | $1.20 | $12.6K | Form 4 |
| Jun 25, 2024 | Dvorkin HowardDirector | Buy | 6,111 | $1.21 | $7.4K | Form 4 |
| Jun 17, 2024 | Dvorkin HowardDirector | Buy | 6,000 | $1.20 | $7.2K | Form 4 |
| Jun 13, 2024 | Dvorkin HowardDirector | Buy | 5,500 | $1.24 | $6.8K | Form 4 |
| Jun 12, 2024 | Dvorkin HowardDirector | Buy | 1,345 | $1.19 | $1.6K | Form 4 |
All 79 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Howard DvorkinSCHEDULE 13D/A, 1 filing Feb 6, 202536
- PERKINS CAPITAL MANAGEMENT INCSC 13G/A, 1 filing Feb 9, 202337
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARMorry Rubin, Chief executive officer
- 17SEC EDGARBrad Mitchell Bernstein, President
- 18
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- 21SEC EDGARPatrick Lloyd McCrory, Board member
- 22SEC EDGARDenis Echtchenko, Board member
- 23SEC EDGARSteven Varner, Board member
- 24SEC EDGARThomas O. Katz, Board member
- 25SEC EDGARHoward Dvorkin, Board member
- 26SEC EDGARSean Hinze, Board member
- 27SEC EDGARJames Douglas Allen, Board member
- 28SEC EDGARDaniel Ballen, Board member
- 29SEC EDGARKatherine Verner, Board member
- 30SEC EDGARPhilip Michael Gitler, Board member
- 31SEC EDGARCarl Pradelli, Board member
- 32SEC EDGARPaul B. Healy, Board member
- 33SEC EDGARE. Anthony Woods, Board member
- 34SEC EDGARFrank M. Delape, Board member
- 35SEC EDGARKenneth L. Smalley, Board member
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