Expensify, Inc.EXFYEarnings & Financial Report
Expensify, Inc. is a software company that develops an expense management system for personal and business use. Expensify also offers a business credit card called the Expensify Card.
Revenue
$33.5M
Gross Profit
$19.0M
Operating Profit
$-1.8M
Net Profit
$-3.8M
Gross Margin
56.5%
Operating Margin
-5.3%
Net Margin
-11.3%
YoY Growth
-16.4%
EPS
$-0.04
Expensify, Inc. Q1 FY2024 Financial Summary
Expensify, Inc. reported revenue of $33.5M (down 16.4% YoY) for Q1 FY2024, with a net profit of $-3.8M (up 36.4% YoY) (-11.3% margin). Cost of goods sold was $14.6M, operating expenses totaled $20.7M.
Key Financial Metrics
| Total Revenue | $33.5M |
|---|---|
| Net Profit | $-3.8M |
| Gross Margin | 56.5% |
| Operating Margin | -5.3% |
| Report Period | Q1 FY2024 |
Revenue Breakdown
Expensify, Inc. Q1 FY2024 revenue of $33.5M breaks down across 2 segments, led by US at $30.5M (91.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| US | $30.5M | 91.0% |
| Non Us | $3.0M | 9.0% |
Expensify, Inc. Annual Revenue by Year
Expensify, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $142.1M).
| Year | Annual Revenue |
|---|---|
| 2025 | $142.1M |
| 2024 | $139.2M |
| 2023 | $150.7M |
| 2022 | $169.5M |
Expensify, Inc. Quarterly Revenue & Net Profit History
Expensify, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $35.2M | -4.9% | N/A | N/A |
| Q3 FY2025 | $35.1M | -1.0% | $-2.3M | -6.6% |
| Q2 FY2025 | $35.8M | +7.4% | $-8.8M | -24.6% |
| Q1 FY2025 | $36.1M | +7.6% | $-3.2M | -8.8% |
| Q4 FY2024 | $37.0M | +5.1% | N/A | N/A |
| Q3 FY2024 | $35.4M | -3.0% | $-2.2M | -6.2% |
| Q2 FY2024 | $33.3M | -14.4% | $-2.8M | -8.3% |
| Q1 FY2024 | $33.5M | -16.4% | $-3.8M | -11.3% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33.5M | $33.3M | $35.4M | $37.0M | $36.1M | $35.8M | $35.1M | $35.2M |
| YoY Growth | -16.4% | -14.4% | -3.0% | 5.1% | 7.6% | 7.4% | -1.0% | -4.9% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $184.8M | $192.9M | $176.2M | $173.7M | $189.2M | $187.1M | $186.8M | $186.0M |
| Liabilities | $78.3M | $78.9M | $56.3M | $45.4M | $54.6M | $55.3M | $51.2M | $53.2M |
| Equity | $106.5M | $114.0M | $119.9M | $128.2M | $134.7M | $131.8M | $135.7M | $132.7M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $3.5M | $9.3M | $3.7M | $7.4M | $4.8M | $8.9M | $4.2M | $2.2M |