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Side-by-side financial comparison of Expensify, Inc. (EXFY) and FIRST BUSINESS FINANCIAL SERVICES, INC. (FBIZ). Click either name above to swap in a different company.
FIRST BUSINESS FINANCIAL SERVICES, INC. is the larger business by last-quarter revenue ($44.3M vs $35.2M, roughly 1.3× Expensify, Inc.). On growth, FIRST BUSINESS FINANCIAL SERVICES, INC. posted the faster year-over-year revenue change (8.5% vs -4.9%). Over the past eight quarters, FIRST BUSINESS FINANCIAL SERVICES, INC.'s revenue compounded faster (8.0% CAGR vs 2.4%).
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.
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is one of the largest banks in the US by assets and by number of branches, deposits, and ATMs.
EXFY vs FBIZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $44.3M |
| Net Profit | — | $12.2M |
| Gross Margin | 49.2% | — |
| Operating Margin | -11.2% | — |
| Net Margin | — | 27.5% |
| Revenue YoY | -4.9% | 8.5% |
| Net Profit YoY | — | 9.2% |
| EPS (diluted) | $-0.07 | $1.44 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $44.3M | ||
| Q4 25 | $35.2M | $42.2M | ||
| Q3 25 | $35.1M | $44.5M | ||
| Q2 25 | $35.8M | $41.0M | ||
| Q1 25 | $36.1M | $40.8M | ||
| Q4 24 | $37.0M | $41.2M | ||
| Q3 24 | $35.4M | $38.1M | ||
| Q2 24 | $33.3M | $38.0M |
| Q1 26 | — | $12.2M | ||
| Q4 25 | — | $13.3M | ||
| Q3 25 | $-2.3M | $14.4M | ||
| Q2 25 | $-8.8M | $11.4M | ||
| Q1 25 | $-3.2M | $11.2M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | $-2.2M | $10.5M | ||
| Q2 24 | $-2.8M | $10.5M |
| Q1 26 | — | — | ||
| Q4 25 | 49.2% | — | ||
| Q3 25 | 49.6% | — | ||
| Q2 25 | 51.9% | — | ||
| Q1 25 | 50.6% | — | ||
| Q4 24 | 51.0% | — | ||
| Q3 24 | 51.6% | — | ||
| Q2 24 | 56.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | -11.2% | 38.5% | ||
| Q3 25 | -6.4% | 39.0% | ||
| Q2 25 | -28.9% | 32.6% | ||
| Q1 25 | -4.1% | 33.0% | ||
| Q4 24 | 1.3% | 37.2% | ||
| Q3 24 | 0.8% | 33.8% | ||
| Q2 24 | 0.7% | 32.6% |
| Q1 26 | — | 27.5% | ||
| Q4 25 | — | 31.6% | ||
| Q3 25 | -6.6% | 32.3% | ||
| Q2 25 | -24.6% | 27.8% | ||
| Q1 25 | -8.8% | 27.4% | ||
| Q4 24 | — | 35.0% | ||
| Q3 24 | -6.2% | 27.6% | ||
| Q2 24 | -8.3% | 27.5% |
| Q1 26 | — | $1.44 | ||
| Q4 25 | $-0.07 | $1.57 | ||
| Q3 25 | $-0.03 | $1.70 | ||
| Q2 25 | $-0.10 | $1.35 | ||
| Q1 25 | $-0.03 | $1.32 | ||
| Q4 24 | $-0.03 | $1.69 | ||
| Q3 24 | $-0.02 | $1.24 | ||
| Q2 24 | $-0.03 | $1.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $63.1M | $265.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $132.7M | — |
| Total Assets | $186.0M | $4.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $265.8M | ||
| Q4 25 | $63.1M | $39.5M | ||
| Q3 25 | $61.5M | $44.3M | ||
| Q2 25 | $60.5M | $123.2M | ||
| Q1 25 | $59.6M | $170.6M | ||
| Q4 24 | $48.8M | $157.7M | ||
| Q3 24 | $39.2M | $132.0M | ||
| Q2 24 | $53.2M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $132.7M | $371.6M | ||
| Q3 25 | $135.7M | $358.3M | ||
| Q2 25 | $131.8M | $344.8M | ||
| Q1 25 | $134.7M | $336.1M | ||
| Q4 24 | $128.2M | $328.6M | ||
| Q3 24 | $119.9M | $312.0M | ||
| Q2 24 | $114.0M | $305.2M |
| Q1 26 | — | $4.3B | ||
| Q4 25 | $186.0M | $4.1B | ||
| Q3 25 | $186.8M | $4.0B | ||
| Q2 25 | $187.1M | $4.0B | ||
| Q1 25 | $189.2M | $3.9B | ||
| Q4 24 | $173.7M | $3.9B | ||
| Q3 24 | $176.2M | $3.7B | ||
| Q2 24 | $192.9M | $3.9B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $2.2M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.2M | $61.7M | ||
| Q3 25 | $4.2M | $18.4M | ||
| Q2 25 | $8.9M | $15.8M | ||
| Q1 25 | $4.8M | $11.3M | ||
| Q4 24 | $7.4M | $57.5M | ||
| Q3 24 | $3.7M | $13.8M | ||
| Q2 24 | $9.3M | $13.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | $61.1M | ||
| Q3 25 | — | $18.3M | ||
| Q2 25 | — | $15.5M | ||
| Q1 25 | — | $11.2M | ||
| Q4 24 | — | $57.3M | ||
| Q3 24 | — | $13.2M | ||
| Q2 24 | — | $12.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | 144.7% | ||
| Q3 25 | — | 41.0% | ||
| Q2 25 | — | 37.8% | ||
| Q1 25 | — | 27.5% | ||
| Q4 24 | — | 139.2% | ||
| Q3 24 | — | 34.6% | ||
| Q2 24 | — | 33.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.4% | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 0.0% | 0.5% | ||
| Q3 24 | 0.0% | 1.6% | ||
| Q2 24 | 0.0% | 1.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.63× | ||
| Q3 25 | — | 1.28× | ||
| Q2 25 | — | 1.39× | ||
| Q1 25 | — | 1.01× | ||
| Q4 24 | — | 3.99× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | — | 1.25× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
