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Side-by-side financial comparison of Expensify, Inc. (EXFY) and Neptune Insurance Holdings Inc. (NP). Click either name above to swap in a different company.
Neptune Insurance Holdings Inc. is the larger business by last-quarter revenue ($37.8M vs $35.2M, roughly 1.1× Expensify, Inc.). On growth, Neptune Insurance Holdings Inc. posted the faster year-over-year revenue change (28.8% vs -4.9%).
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.
Neptune Insurance Holdings Inc. is a specialty insurance holding company that offers a broad portfolio of property and casualty insurance products, with a core focus on residential and commercial flood insurance for customers across the United States. It serves both individual consumers and small to mid-sized business clients, using advanced data analytics to support accurate policy pricing and robust risk management.
EXFY vs NP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $37.8M |
| Net Profit | — | $50.0K |
| Gross Margin | 49.2% | — |
| Operating Margin | -11.2% | — |
| Net Margin | — | 0.1% |
| Revenue YoY | -4.9% | 28.8% |
| Net Profit YoY | — | 0.0% |
| EPS (diluted) | $-0.07 | $0.05 |
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 | — | $37.8M | ||
| Q4 25 | $35.2M | — | ||
| Q3 25 | $35.1M | $44.4M | ||
| Q2 25 | $35.8M | — | ||
| Q1 25 | $36.1M | — | ||
| Q4 24 | $37.0M | — | ||
| Q3 24 | $35.4M | $33.8M | ||
| Q2 24 | $33.3M | — |
| Q1 26 | — | $50.0K | ||
| Q4 25 | — | — | ||
| Q3 25 | $-2.3M | $11.5M | ||
| Q2 25 | $-8.8M | — | ||
| Q1 25 | $-3.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $-2.2M | $12.1M | ||
| Q2 24 | $-2.8M | — |
| 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% | — | ||
| Q3 25 | -6.4% | 46.7% | ||
| Q2 25 | -28.9% | — | ||
| Q1 25 | -4.1% | — | ||
| Q4 24 | 1.3% | — | ||
| Q3 24 | 0.8% | 58.6% | ||
| Q2 24 | 0.7% | — |
| Q1 26 | — | 0.1% | ||
| Q4 25 | — | — | ||
| Q3 25 | -6.6% | 25.9% | ||
| Q2 25 | -24.6% | — | ||
| Q1 25 | -8.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -6.2% | 35.8% | ||
| Q2 24 | -8.3% | — |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $-0.03 | $0.06 | ||
| Q2 25 | $-0.10 | — | ||
| Q1 25 | $-0.03 | — | ||
| Q4 24 | $-0.03 | — | ||
| Q3 24 | $-0.02 | $0.06 | ||
| Q2 24 | $-0.03 | — |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $132.7M | — |
| Total Assets | $186.0M | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.1M | — | ||
| Q3 25 | $61.5M | $12.2M | ||
| Q2 25 | $60.5M | — | ||
| Q1 25 | $59.6M | — | ||
| Q4 24 | $48.8M | — | ||
| Q3 24 | $39.2M | — | ||
| Q2 24 | $53.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $247.6M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $132.7M | — | ||
| Q3 25 | $135.7M | $-509.5M | ||
| Q2 25 | $131.8M | — | ||
| Q1 25 | $134.7M | — | ||
| Q4 24 | $128.2M | — | ||
| Q3 24 | $119.9M | $-374.3M | ||
| Q2 24 | $114.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $186.0M | — | ||
| Q3 25 | $186.8M | $89.6M | ||
| Q2 25 | $187.1M | — | ||
| Q1 25 | $189.2M | — | ||
| Q4 24 | $173.7M | — | ||
| Q3 24 | $176.2M | — | ||
| Q2 24 | $192.9M | — |
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 | — | ||
| Q3 25 | $4.2M | $38.9M | ||
| Q2 25 | $8.9M | — | ||
| Q1 25 | $4.8M | — | ||
| Q4 24 | $7.4M | — | ||
| Q3 24 | $3.7M | — | ||
| Q2 24 | $9.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 3.38× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
