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Side-by-side financial comparison of Expensify, Inc. (EXFY) and TPG Mortgage Investment Trust, Inc. (MITT). Click either name above to swap in a different company.
Expensify, Inc. is the larger business by last-quarter revenue ($35.2M vs $20.4M, roughly 1.7× TPG Mortgage Investment Trust, Inc.). On growth, TPG Mortgage Investment Trust, Inc. posted the faster year-over-year revenue change (17.7% vs -4.9%). Over the past eight quarters, TPG Mortgage Investment Trust, Inc.'s revenue compounded faster (9.1% 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.
TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.
EXFY vs MITT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $20.4M |
| Net Profit | — | $13.3M |
| Gross Margin | 49.2% | — |
| Operating Margin | -11.2% | 67.1% |
| Net Margin | — | 65.0% |
| Revenue YoY | -4.9% | 17.7% |
| Net Profit YoY | — | -7.0% |
| EPS (diluted) | $-0.07 | $0.27 |
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.
| Q4 25 | $35.2M | $20.4M | ||
| Q3 25 | $35.1M | $19.5M | ||
| Q2 25 | $35.8M | $17.8M | ||
| Q1 25 | $36.1M | $18.8M | ||
| Q4 24 | $37.0M | $17.4M | ||
| Q3 24 | $35.4M | $14.9M | ||
| Q2 24 | $33.3M | $16.4M | ||
| Q1 24 | $33.5M | $17.2M |
| Q4 25 | — | $13.3M | ||
| Q3 25 | $-2.3M | $20.0M | ||
| Q2 25 | $-8.8M | $3.9M | ||
| Q1 25 | $-3.2M | $11.5M | ||
| Q4 24 | — | $14.3M | ||
| Q3 24 | $-2.2M | $16.6M | ||
| Q2 24 | $-2.8M | $3.9M | ||
| Q1 24 | $-3.8M | $20.9M |
| 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 24 | 56.5% | — |
| Q4 25 | -11.2% | 67.1% | ||
| Q3 25 | -6.4% | — | ||
| Q2 25 | -28.9% | 20.9% | ||
| Q1 25 | -4.1% | 54.6% | ||
| Q4 24 | 1.3% | 76.7% | ||
| Q3 24 | 0.8% | — | ||
| Q2 24 | 0.7% | 18.4% | ||
| Q1 24 | -5.3% | — |
| Q4 25 | — | 65.0% | ||
| Q3 25 | -6.6% | 102.5% | ||
| Q2 25 | -24.6% | 22.2% | ||
| Q1 25 | -8.8% | 60.9% | ||
| Q4 24 | — | 82.2% | ||
| Q3 24 | -6.2% | 111.3% | ||
| Q2 24 | -8.3% | 24.0% | ||
| Q1 24 | -11.3% | 121.6% |
| Q4 25 | $-0.07 | $0.27 | ||
| Q3 25 | $-0.03 | $0.47 | ||
| Q2 25 | $-0.10 | $-0.05 | ||
| Q1 25 | $-0.03 | $0.21 | ||
| Q4 24 | $-0.03 | $0.30 | ||
| Q3 24 | $-0.02 | $0.40 | ||
| Q2 24 | $-0.03 | $-0.02 | ||
| Q1 24 | $-0.04 | $0.55 |
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 | $57.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $132.7M | $560.7M |
| Total Assets | $186.0M | $8.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.1M | $57.8M | ||
| Q3 25 | $61.5M | $59.0M | ||
| Q2 25 | $60.5M | $88.7M | ||
| Q1 25 | $59.6M | $115.5M | ||
| Q4 24 | $48.8M | $118.7M | ||
| Q3 24 | $39.2M | $102.5M | ||
| Q2 24 | $53.2M | $120.9M | ||
| Q1 24 | $49.3M | $100.3M |
| Q4 25 | $132.7M | $560.7M | ||
| Q3 25 | $135.7M | $559.8M | ||
| Q2 25 | $131.8M | $536.4M | ||
| Q1 25 | $134.7M | $543.9M | ||
| Q4 24 | $128.2M | $543.4M | ||
| Q3 24 | $119.9M | $540.1M | ||
| Q2 24 | $114.0M | $533.5M | ||
| Q1 24 | $106.5M | $539.6M |
| Q4 25 | $186.0M | $8.7B | ||
| Q3 25 | $186.8M | $9.0B | ||
| Q2 25 | $187.1M | $7.5B | ||
| Q1 25 | $189.2M | $7.3B | ||
| Q4 24 | $173.7M | $6.9B | ||
| Q3 24 | $176.2M | $7.0B | ||
| Q2 24 | $192.9M | $7.1B | ||
| Q1 24 | $184.8M | $6.4B |
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 | $59.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 4.48× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.2M | $59.6M | ||
| Q3 25 | $4.2M | $17.4M | ||
| Q2 25 | $8.9M | $11.5M | ||
| Q1 25 | $4.8M | $12.0M | ||
| Q4 24 | $7.4M | $55.8M | ||
| Q3 24 | $3.7M | $14.5M | ||
| Q2 24 | $9.3M | $13.7M | ||
| Q1 24 | $3.5M | $12.0M |
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | — | 4.48× | ||
| Q3 25 | — | 0.87× | ||
| Q2 25 | — | 2.92× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | — | 0.87× | ||
| Q2 24 | — | 3.50× | ||
| Q1 24 | — | 0.57× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
