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Side-by-side financial comparison of Expensify, Inc. (EXFY) and WEST BANCORPORATION INC (WTBA). Click either name above to swap in a different company.
Expensify, Inc. is the larger business by last-quarter revenue ($35.2M vs $26.9M, roughly 1.3× WEST BANCORPORATION INC). On growth, WEST BANCORPORATION INC posted the faster year-over-year revenue change (16.6% vs -4.9%). Over the past eight quarters, WEST BANCORPORATION INC's revenue compounded faster (17.3% 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.
West Bancorporation Inc. is a regional financial holding company headquartered in the U.S. Midwest, primarily serving markets across Iowa and Minnesota. It provides a full suite of personal and commercial banking services, including deposit accounts, mortgage loans, business lending, and wealth management solutions for individual consumers, small-to-medium enterprises, and local organizational clients.
EXFY vs WTBA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $35.2M | $26.9M |
| Net Profit | — | $10.6M |
| Gross Margin | 49.2% | — |
| Operating Margin | -11.2% | 50.0% |
| Net Margin | — | 39.2% |
| Revenue YoY | -4.9% | 16.6% |
| Net Profit YoY | — | 34.8% |
| EPS (diluted) | $-0.07 | $0.61 |
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 | — | $26.9M | ||
| Q4 25 | $35.2M | $24.2M | ||
| Q3 25 | $35.1M | $25.0M | ||
| Q2 25 | $35.8M | $23.8M | ||
| Q1 25 | $36.1M | $23.1M | ||
| Q4 24 | $37.0M | $20.9M | ||
| Q3 24 | $35.4M | $20.3M | ||
| Q2 24 | $33.3M | $19.6M |
| Q1 26 | — | $10.6M | ||
| Q4 25 | — | $7.4M | ||
| Q3 25 | $-2.3M | $9.3M | ||
| Q2 25 | $-8.8M | $8.0M | ||
| Q1 25 | $-3.2M | $7.8M | ||
| Q4 24 | — | $7.1M | ||
| Q3 24 | $-2.2M | $6.0M | ||
| Q2 24 | $-2.8M | $5.2M |
| 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 | — | 50.0% | ||
| Q4 25 | -11.2% | 39.6% | ||
| Q3 25 | -6.4% | 45.8% | ||
| Q2 25 | -28.9% | 43.4% | ||
| Q1 25 | -4.1% | 43.4% | ||
| Q4 24 | 1.3% | 30.9% | ||
| Q3 24 | 0.8% | 36.6% | ||
| Q2 24 | 0.7% | 32.6% |
| Q1 26 | — | 39.2% | ||
| Q4 25 | — | 30.7% | ||
| Q3 25 | -6.6% | 37.3% | ||
| Q2 25 | -24.6% | 33.5% | ||
| Q1 25 | -8.8% | 34.0% | ||
| Q4 24 | — | 34.0% | ||
| Q3 24 | -6.2% | 29.3% | ||
| Q2 24 | -8.3% | 26.5% |
| Q1 26 | — | $0.61 | ||
| Q4 25 | $-0.07 | $0.44 | ||
| Q3 25 | $-0.03 | $0.55 | ||
| Q2 25 | $-0.10 | $0.47 | ||
| Q1 25 | $-0.03 | $0.46 | ||
| Q4 24 | $-0.03 | $0.41 | ||
| Q3 24 | $-0.02 | $0.35 | ||
| Q2 24 | $-0.03 | $0.31 |
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 | $362.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $132.7M | $270.7M |
| Total Assets | $186.0M | $4.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $362.0M | ||
| Q4 25 | $63.1M | $471.1M | ||
| Q3 25 | $61.5M | $232.9M | ||
| Q2 25 | $60.5M | $345.2M | ||
| Q1 25 | $59.6M | — | ||
| Q4 24 | $48.8M | $243.5M | ||
| Q3 24 | $39.2M | — | ||
| Q2 24 | $53.2M | — |
| Q1 26 | — | $270.7M | ||
| Q4 25 | $132.7M | $266.0M | ||
| Q3 25 | $135.7M | $255.1M | ||
| Q2 25 | $131.8M | $240.9M | ||
| Q1 25 | $134.7M | $237.9M | ||
| Q4 24 | $128.2M | $227.9M | ||
| Q3 24 | $119.9M | $235.4M | ||
| Q2 24 | $114.0M | $223.9M |
| Q1 26 | — | $4.0B | ||
| Q4 25 | $186.0M | $4.1B | ||
| Q3 25 | $186.8M | $4.0B | ||
| Q2 25 | $187.1M | $4.1B | ||
| Q1 25 | $189.2M | $4.0B | ||
| Q4 24 | $173.7M | $4.0B | ||
| Q3 24 | $176.2M | $4.0B | ||
| Q2 24 | $192.9M | $4.0B |
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 | $12.9M |
| Free Cash FlowOCF − Capex | — | $12.4M |
| FCF MarginFCF / Revenue | — | 46.0% |
| Capex IntensityCapex / Revenue | — | 1.8% |
| Cash ConversionOCF / Net Profit | — | 1.22× |
| TTM Free Cash FlowTrailing 4 quarters | — | $79.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.9M | ||
| Q4 25 | $2.2M | $46.5M | ||
| Q3 25 | $4.2M | $11.4M | ||
| Q2 25 | $8.9M | $13.5M | ||
| Q1 25 | $4.8M | $9.7M | ||
| Q4 24 | $7.4M | $39.8M | ||
| Q3 24 | $3.7M | $12.9M | ||
| Q2 24 | $9.3M | $10.0M |
| Q1 26 | — | $12.4M | ||
| Q4 25 | — | $43.2M | ||
| Q3 25 | — | $10.8M | ||
| Q2 25 | — | $12.8M | ||
| Q1 25 | — | $8.3M | ||
| Q4 24 | — | $13.7M | ||
| Q3 24 | — | $7.0M | ||
| Q2 24 | — | $2.7M |
| Q1 26 | — | 46.0% | ||
| Q4 25 | — | 178.3% | ||
| Q3 25 | — | 43.0% | ||
| Q2 25 | — | 53.6% | ||
| Q1 25 | — | 35.7% | ||
| Q4 24 | — | 65.6% | ||
| Q3 24 | — | 34.2% | ||
| Q2 24 | — | 14.0% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | — | 13.7% | ||
| Q3 25 | 0.0% | 2.6% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 6.5% | ||
| Q4 24 | 0.0% | 125.3% | ||
| Q3 24 | 0.0% | 29.4% | ||
| Q2 24 | 0.0% | 37.1% |
| Q1 26 | — | 1.22× | ||
| Q4 25 | — | 6.26× | ||
| Q3 25 | — | 1.23× | ||
| Q2 25 | — | 1.70× | ||
| Q1 25 | — | 1.24× | ||
| Q4 24 | — | 5.61× | ||
| Q3 24 | — | 2.17× | ||
| Q2 24 | — | 1.93× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
