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Side-by-side financial comparison of Expensify, Inc. (EXFY) and NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP (NEN). Click either name above to swap in a different company.
Expensify, Inc. is the larger business by last-quarter revenue ($35.2M vs $23.6M, roughly 1.5× NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP). On growth, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP posted the faster year-over-year revenue change (15.7% vs -4.9%). Over the past eight quarters, NEW ENGLAND REALTY ASSOCIATES LIMITED PARTNERSHIP's revenue compounded faster (8.9% 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.
New England Realty Associates Limited Partnership is a real estate investment entity that owns, operates and manages residential and commercial properties primarily across the U.S. New England region. Its core assets include multifamily apartments, mixed-use properties and small commercial spaces, serving tenants across Massachusetts, New Hampshire and adjacent states, delivering steady returns to unitholders via rental income and property value growth.
EXFY vs NEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $23.6M |
| Net Profit | — | $-1.4M |
| Gross Margin | 49.2% | — |
| Operating Margin | -11.2% | 14.0% |
| Net Margin | — | -677.3% |
| Revenue YoY | -4.9% | 15.7% |
| Net Profit YoY | — | -133.0% |
| EPS (diluted) | $-0.07 | — |
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 | $23.6M | ||
| Q3 25 | $35.1M | $23.7M | ||
| Q2 25 | $35.8M | $21.2M | ||
| Q1 25 | $36.1M | $20.7M | ||
| Q4 24 | $37.0M | $20.4M | ||
| Q3 24 | $35.4M | $20.2M | ||
| Q2 24 | $33.3M | $20.1M | ||
| Q1 24 | $33.5M | $19.9M |
| Q4 25 | — | $-1.4M | ||
| Q3 25 | $-2.3M | $-521.8K | ||
| Q2 25 | $-8.8M | $4.1M | ||
| Q1 25 | $-3.2M | $3.8M | ||
| Q4 24 | — | $4.2M | ||
| Q3 24 | $-2.2M | $3.9M | ||
| Q2 24 | $-2.8M | $4.1M | ||
| Q1 24 | $-3.8M | $3.5M |
| 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% | 14.0% | ||
| Q3 25 | -6.4% | 20.0% | ||
| Q2 25 | -28.9% | 33.3% | ||
| Q1 25 | -4.1% | 30.1% | ||
| Q4 24 | 1.3% | 32.4% | ||
| Q3 24 | 0.8% | 32.0% | ||
| Q2 24 | 0.7% | 32.6% | ||
| Q1 24 | -5.3% | 28.9% |
| Q4 25 | — | -677.3% | ||
| Q3 25 | -6.6% | -2.2% | ||
| Q2 25 | -24.6% | 19.5% | ||
| Q1 25 | -8.8% | 18.3% | ||
| Q4 24 | — | 20.7% | ||
| Q3 24 | -6.2% | 19.3% | ||
| Q2 24 | -8.3% | 20.3% | ||
| Q1 24 | -11.3% | 17.4% |
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.10 | — | ||
| Q1 25 | $-0.03 | — | ||
| Q4 24 | $-0.03 | — | ||
| Q3 24 | $-0.02 | — | ||
| Q2 24 | $-0.03 | — | ||
| Q1 24 | $-0.04 | — |
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 | $26.7M |
| Total DebtLower is stronger | — | $531.0M |
| Stockholders' EquityBook value | $132.7M | — |
| Total Assets | $186.0M | $505.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.1M | $26.7M | ||
| Q3 25 | $61.5M | $13.4M | ||
| Q2 25 | $60.5M | $16.7M | ||
| Q1 25 | $59.6M | $30.9M | ||
| Q4 24 | $48.8M | $17.6M | ||
| Q3 24 | $39.2M | $15.1M | ||
| Q2 24 | $53.2M | $13.5M | ||
| Q1 24 | $49.3M | $28.8M |
| Q4 25 | — | $531.0M | ||
| Q3 25 | — | $514.2M | ||
| Q2 25 | — | $514.3M | ||
| Q1 25 | — | $407.8M | ||
| Q4 24 | — | $408.6M | ||
| Q3 24 | — | $409.3M | ||
| Q2 24 | — | $410.0M | ||
| Q1 24 | — | $410.7M |
| Q4 25 | $132.7M | — | ||
| Q3 25 | $135.7M | — | ||
| Q2 25 | $131.8M | — | ||
| Q1 25 | $134.7M | — | ||
| Q4 24 | $128.2M | — | ||
| Q3 24 | $119.9M | — | ||
| Q2 24 | $114.0M | — | ||
| Q1 24 | $106.5M | — |
| Q4 25 | $186.0M | $505.3M | ||
| Q3 25 | $186.8M | $492.9M | ||
| Q2 25 | $187.1M | $494.8M | ||
| Q1 25 | $189.2M | $385.2M | ||
| Q4 24 | $173.7M | $393.5M | ||
| Q3 24 | $176.2M | $387.4M | ||
| Q2 24 | $192.9M | $383.7M | ||
| Q1 24 | $184.8M | $381.2M |
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 | $27.7M |
| 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.
| Q4 25 | $2.2M | $27.7M | ||
| Q3 25 | $4.2M | $2.3M | ||
| Q2 25 | $8.9M | $12.5M | ||
| Q1 25 | $4.8M | $5.5M | ||
| Q4 24 | $7.4M | $31.9M | ||
| Q3 24 | $3.7M | $8.5M | ||
| Q2 24 | $9.3M | $5.4M | ||
| Q1 24 | $3.5M | $6.1M |
| 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 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 3.02× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 7.57× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 1.32× | ||
| Q1 24 | — | 1.77× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
