Expensify, Inc.(EXFY)Earnings, Financials & Key Ratios

EXFY•NASDAQ

$1.11

$98M mkt cap·Price updated May 7, 2026

SectorTechnology IndustryApplication Software Sub-IndustryPayments, billing and spend management

AboutExpensify, Inc. provides a cloud-based expense management software platform to individuals, small businesses, and corporations in the United States and internationally. The company's platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel. It also offers track and submit plans for individuals. The company was founded in 2008 and is based in Portland, Oregon.Show more

Revenue$142M+2.1%
EBITDA-$10M-259.5%
Net Income-$21M-112.7%
EPS (Diluted)-0.23-91.7%
Gross Margin50.34%-6.5%
EBITDA Margin-6.73%-256.3%
Operating Margin-12.68%-2053.2%
Net Margin-15.05%-108.4%
ROE-16.39%-86.6%
ROIC-16.75%-2198.0%
Debt/Equity0.04-14.3%

Technical→

EXFY Key Insights

Expensify, Inc. (EXFY) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 10.0%
✓Trading at only 0.8x book value

✗Weaknesses

✗Profits declining 65.7% over 5 years
✗Weak Piotroski F-Score: 3/9
✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

EXFY Price & Volume

Expensify, Inc. (EXFY) stock price & volume — 10-year historical chart

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EXFY Growth Metrics

Expensify, Inc. (EXFY) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-

5 Years10.04%

3 Years-5.71%

TTM-1.25%

Profit CAGR

10 Years-

5 Years-

3 Years-

TTM-117.7%

EPS CAGR

10 Years-

5 Years-

3 Years-

TTM-657.58%

Return on Capital

10 Years-6.26%

5 Years-12.36%

3 Years-13.13%

Last Year-13.09%

EXFY Recent Earnings

Expensify, Inc. (EXFY) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 3/12 qtrs (25%)●Beat Revenue 4/12 qtrs (33%)

Q1 2026Latest

Feb 26, 2026

EPS

$0.03

Est $0.04

-175.0%

Revenue

$35M

Est $36M

-0.9%

Q4 2025

Nov 6, 2025

EPS

$0.04

Est $0.05

-13.3%

Revenue

$35M

Est $35M

-1.2%

Q3 2025

Aug 7, 2025

EPS

$0.02

Est $0.05

-136.8%

Revenue

$36M

Est $36M

+0.3%

Q2 2025

May 8, 2025

EPS

$0.06

Est $0.07

-14.3%

Revenue

$36M

Est $36M

-0.9%

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q1 2026Latest	Feb 26, 2026	$0.03vs $0.04-175.0%	$35Mvs $36M-0.9%
Q4 2025	Nov 6, 2025	$0.04vs $0.05-13.3%	$35Mvs $35M-1.2%
Q3 2025	Aug 7, 2025	$0.02vs $0.05-136.8%	$36Mvs $36M+0.3%
Q2 2025	May 8, 2025	$0.06vs $0.07-14.3%	$36Mvs $36M-0.9%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
BILLBill.com Holdings, Inc.Direct Competitor	3.72B	37.62	163.57	13.36%	0.01%	0%	0.45
APPFAppFolio, Inc.Direct Competitor	6.12B	170.08	43.83	19.72%	15.27%	30.9%	0.13
MGNIMagnite, Inc.Direct Competitor	2.01B	14.00	14.74	6.85%	21.96%	18.57%	0.30
CWANClearwater Analytics Holdings, Inc.Direct Competitor	7.21B	24.29	-173.50	61.88%	-5.82%	-2.38%	0.43
PCTYPaylocity Holding CorporationDirect Competitor	5.93B	109.12	27.14	13.74%	14.94%	22.36%	0.18
INTUIntuit Inc.Product Competitor	113.54B	406.78	29.76	15.63%	21.57%	22.78%	0.34
ADSKAutodesk, Inc.Product Competitor	53.72B	251.04	48	10.52%	16.59%	36.91%	0.90
PAYCPaycom Software, Inc.Product Competitor	7.51B	138.43	17.13	8.95%	22.44%	31.03%	0.09

Compare EXFY vs Peers

Expensify, Inc. (EXFY) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs BILL

Most directly comparable listed peer for EXFY.

Scale Benchmark

vs MSFT

Larger-name benchmark to compare EXFY against a more recognizable public peer.

Peer Set

Compare Top 5

vs BILL, APPF, MGNI, CWAN

EXFY Income Statement

Expensify, Inc. (EXFY) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Sales/Revenue	80.46M	88.07M	142.84M	169.5M	150.69M	139.24M	142.1M	140M
Revenue Growth %	-	9.46%	62.18%	18.66%	-11.1%	-7.6%	2.06%	-1.25%
Cost of Goods Sold	31.98M	32.41M	53.69M	62.67M	66.89M	64.24M	70.57M	70.54M
COGS % of Revenue	39.75%	36.8%	37.59%	36.97%	44.39%	46.14%	49.66%	-
Gross Profit	48.48M▲ 0%	55.66M▲ 14.8%	89.14M▲ 60.2%	106.83M▲ 19.8%	83.8M▼ 21.6%	75M▼ 10.5%	71.53M▼ 4.6%	69.46M▲ 0%
Gross Margin %	60.25%	63.2%	62.41%	63.03%	55.61%	53.86%	50.34%	49.61%
Gross Profit Growth %	-	14.82%	60.16%	19.84%	-21.56%	-10.5%	-4.63%	-
Operating Expenses	47.23M	49.99M	99.39M	122.06M	116.95M	75.82M	89.55M	87.96M
OpEx % of Revenue	58.7%	56.76%	69.59%	72.01%	77.61%	54.45%	63.02%	-
Selling, General & Admin	43.12M	43.26M	88.41M	108.37M	93.58M	51.18M	68.86M	67.37M
SG&A % of Revenue	53.59%	49.12%	61.89%	63.93%	62.1%	36.76%	48.46%	-
Research & Development	4.11M	6.73M	10.99M	13.69M	23.37M	24.64M	20.68M	22.49M
R&D % of Revenue	5.11%	7.64%	7.69%	8.08%	15.51%	17.7%	14.56%	-
Other Operating Expenses	0	0	0	0	0	0	0	-1000K
Operating Income	1.25M▲ 0%	5.67M▲ 354.7%	-10.25M▼ 280.8%	-15.23M▼ 48.6%	-33.15M▼ 117.6%	-820K▲ 97.5%	-18.02M▼ 2097.4%	-18.5M▲ 0%
Operating Margin %	1.55%	6.44%	-7.18%	-8.99%	-22%	-0.59%	-12.68%	-13.22%
Operating Income Growth %	-	354.69%	-280.81%	-48.58%	-117.63%	97.53%	-2097.44%	-
EBITDA	4.09M	8.09M	-5.05M	-9.18M	-27.98M	5.99M	-9.56M	-13.93M
EBITDA Margin %	5.09%	9.19%	-3.54%	-5.41%	-18.57%	4.3%	-6.73%	-9.95%
EBITDA Growth %	-	97.74%	-162.47%	-81.56%	-204.91%	121.42%	-259.48%	-303.05%
D&A (Non-Cash Add-back)	2.85M	2.42M	5.2M	6.05M	5.16M	6.81M	8.46M	4.58M
EBIT	1.25M	5.67M	-10.25M	-15.23M	-33.15M	-820K	-16.29M	-16.02M
Net Interest Income	-2.76M	-2.72M	-3.48M	-5.41M	-5.33M	-1.57M	0	985K
Interest Income	0	0	0	0	0	0	0	985K
Interest Expense	2.76M	2.72M	3.48M	5.41M	5.33M	1.57M	0	0
Other Income/Expense	-2.76M	-2.72M	-3.48M	-5.41M	-5.33M	-1.57M	1.73M	1.57M
Pretax Income	-1.51M▲ 0%	2.95M▲ 295.5%	-13.73M▼ 565.2%	-20.64M▼ 50.3%	-38.48M▼ 86.4%	-2.39M▲ 93.8%	-16.29M▼ 581.1%	-16.93M▲ 0%
Pretax Margin %	-1.88%	3.35%	-9.61%	-12.18%	-25.53%	-1.72%	-11.47%	-12.09%
Income Tax	-2.75M	4.66M	-174K	6.37M	2.98M	7.66M	5.1M	2.55M
Effective Tax Rate %	182.19%	157.93%	1.27%	-30.84%	-7.75%	-320.36%	-31.28%	-15.08%
Net Income	1.24M▲ 0%	-1.71M▼ 237.8%	-13.56M▼ 692.9%	-27.01M▼ 99.2%	-41.46M▼ 53.5%	-10.05M▲ 75.7%	-21.39M▼ 112.7%	-20.56M▲ 0%
Net Margin %	1.54%	-1.94%	-9.49%	-15.93%	-27.51%	-7.22%	-15.05%	-14.68%
Net Income Growth %	-	-237.79%	-692.87%	-99.21%	-53.49%	75.75%	-112.72%	-117.7%
Net Income (Continuing)	1.24M	-1.71M	-13.56M	-27.01M	-41.46M	-10.05M	-21.39M	-20.56M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)	0.04▲ 0%	-0.05▼ 232.5%	-0.17▼ 244.8%	-0.33▼ 94.1%	-0.50▼ 51.5%	-0.12▲ 76.0%	-0.23▼ 91.7%	-0.22▲ 0%
EPS Growth %	-	-232.53%	-244.83%	-94.12%	-51.52%	76%	-91.67%	-657.58%
EPS (Basic)	0.04	-0.06	-0.17	-0.33	-0.50	-0.12	-0.23	-
Diluted Shares Outstanding	33.4M	34.7M	81.4M	80.79M	82.49M	87.38M	92.28M	93.72M
Basic Shares Outstanding	33.4M	29.53M	81.4M	80.79M	82.49M	87.38M	92.28M	93.72M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

EXFY Balance Sheet

Expensify, Inc. (EXFY) balance sheet — assets, liabilities & shareholders' equity

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Total Current Assets	50.51M	63.66M	157.64M	187.12M	137.23M	136.88M	153.01M	158.22M
Cash & Short-Term Investments	9.99M	34.4M	98.4M	103.79M	47.51M	48.77M	63.08M	66.53M
Cash Only	9.99M	34.4M	98.4M	103.79M	47.51M	48.77M	63.08M	66.53M
Short-Term Investments	0	0	0	0	0	0	0	0
Accounts Receivable	7.99M	11.82M	21.15M	18.92M	16.83M	13.13M	12.62M	12.12M
Days Sales Outstanding	36.25	49	54.04	40.74	40.76	34.42	32.41	33.81
Inventory	0	0	0	8.82M	0	0	0	0
Days Inventory Outstanding	-	-	-	51.4	-	-	-	-
Other Current Assets	31.33M	16.51M	30.66M	46.76M	67.25M	62.88M	77.31M	79.58M
Total Non-Current Assets	26.09M	24.07M	25.57M	23.13M	39.55M	36.8M	32.98M	32.38M
Property, Plant & Equipment	18.87M	19.1M	18.13M	15.24M	20.81M	19.06M	17.75M	17.42M
Fixed Asset Turnover	4.26x	4.61x	7.88x	11.12x	7.24x	7.30x	8.01x	7.81x
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	2.95M	3.72M	6.36M	6.88M	12.49M	16.23M	13.6M	0
Long-Term Investments	0	48K	0	0	0	0	0	0
Other Non-Current Assets	1.41M	785K	710K	664K	6.25M	1.01M	1.15M	18.15M
Total Assets	76.6M▲ 0%	87.73M▲ 14.5%	183.21M▲ 108.8%	210.24M▲ 14.8%	176.78M▼ 15.9%	173.68M▼ 1.8%	185.99M▲ 7.1%	190.6M▲ 0%
Asset Turnover	1.05x	1.00x	0.78x	0.81x	0.85x	0.80x	0.76x	0.75x
Asset Growth %	-	14.54%	108.83%	14.75%	-15.91%	-1.76%	7.09%	10.84%
Total Current Liabilities	44.6M	39.2M	53.58M	60.36M	67.89M	38.01M	46.41M	45.34M
Accounts Payable	3.04M	2.33M	3.75M	1.06M	1.43M	196K	289K	938K
Days Payables Outstanding	34.73	26.21	25.51	6.17	7.78	1.11	1.49	4.52
Short-Term Debt	6.89M	19.03M	15.55M	15.55M	22.66M	0	678K	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0
Other Current Liabilities	31.29M	17.84M	24.58M	42.76M	43.18M	29.86M	45.44M	45.34M
Current Ratio	1.13x	1.62x	2.94x	3.10x	2.02x	3.60x	3.30x	3.30x
Quick Ratio	1.13x	1.62x	2.94x	2.95x	2.02x	3.60x	3.30x	3.30x
Cash Conversion Cycle	-	-	-	85.97	-	-	-	29.29
Total Non-Current Liabilities	80.45M	34.46M	53.02M	52.64M	8.15M	7.43M	6.84M	6.73M
Long-Term Debt	32.56M	30.32M	52.07M	51.43M	0	0	5.06M	4.91M
Capital Lease Obligations	2.79M	2.35M	802K	0	6.47M	5.74M	0	15.65M
Deferred Tax Liabilities	0	916K	0	0	0	0	0	0
Other Non-Current Liabilities	45.1M	877K	153K	1.2M	1.68M	1.69M	1.78M	6.69M
Total Liabilities	125.06M	73.66M	106.6M	113M	76.04M	45.44M	53.24M	52.07M
Total Debt	44.3M	51.7M	69.97M	67.78M	29.55M	6.47M	5.74M	4.91M
Net Debt	34.3M	17.3M	-28.43M	-36M	-17.96M	-42.3M	-57.34M	-61.62M
Debt / Equity	-	3.67x	0.91x	0.70x	0.29x	0.05x	0.04x	0.04x
Debt / EBITDA	10.82x	6.39x	-	-	-	1.08x	-	-0.35x
Net Debt / EBITDA	8.38x	2.14x	-	-	-	-7.06x	-	4.42x
Interest Coverage	0.45x	2.09x	-2.95x	-2.82x	-6.22x	-0.52x	-	-
Total Equity	-48.46M▲ 0%	14.07M▲ 129.0%	76.61M▲ 444.6%	97.24M▲ 26.9%	100.74M▲ 3.6%	128.24M▲ 27.3%	132.75M▲ 3.5%	138.53M▲ 0%
Equity Growth %	-	129.03%	444.57%	26.92%	3.6%	27.3%	3.51%	35.13%
Book Value per Share	-1.45	0.41	0.94	1.20	1.22	1.47	1.44	1.48
Total Shareholders' Equity	-48.46M	14.07M	76.61M	97.24M	100.74M	128.24M	132.75M	138.53M
Common Stock	0	0	6K	7K	8K	9K	9K	10K
Retained Earnings	-50.64M	-52.35M	-65.91M	-97.57M	-140.77M	-150.83M	-172.22M	-174.55M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0

EXFY Cash Flow Statement

Expensify, Inc. (EXFY) cash flow — operating, investing & free cash flow history

Line item	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25	TTM
Cash from Operations	12.43M	7.58M	5.49M	32.88M	1.56M	23.88M	20.09M	20.09M
Operating CF Margin %	15.45%	8.61%	3.84%	19.4%	1.03%	17.15%	14.14%	-
Operating CF Growth %	-	-38.98%	-27.67%	499.27%	-95.26%	1431.56%	-15.86%	-159.11%
Net Income	1.24M	-1.71M	-13.56M	-27.01M	-41.46M	-10.05M	-21.39M	-20.56M
Depreciation & Amortization	2.85M	3.25M	5.2M	5.39M	5.16M	6.81M	8.46M	8.73M
Stock-Based Compensation	1.71M	17.84M	14.57M	52.33M	41.21M	33.54M	26.58M	24.57M
Deferred Taxes	-2.85M	3.35M	-868K	26K	-113K	-42K	5K	19K
Other Non-Cash Items	1.28M	1.5M	1.09M	1.59M	1.79M	1.33M	1.31M	-4.78M
Working Capital Changes	8.21M	-16.65M	-951K	550K	-5.04M	-7.71M	5.12M	7.42M
Change in Receivables	-1.96M	-2.17M	-5.42M	-1.34M	2.22M	704K	-355K	-436K
Change in Inventory	0	0	0	0	0	0	0	0
Change in Payables	446K	-714K	1.42M	-2.69M	228K	-1.09M	91K	308K
Cash from Investing	-4.9M	-4.29M	-7.61M	-2.2M	-7.29M	-7.63M	-3.56M	-4.47M
Capital Expenditures	-4.91M	-4.3M	-2.71M	-2.2M	-1.38M	-7.63M	-17K	-1.6M
CapEx % of Revenue	6.1%	4.88%	1.89%	1.3%	0.92%	5.48%	0.01%	-
Acquisitions	1.2M	1.31M	0	5K	0	0	0	0
Investments	-	-	-	-	-	-	-	-
Other Investing	-1.19M	-1.31M	-4.91M	0	-5.91M	0	-3.54M	-2.87M
Cash from Financing	5.14M	8.79M	80.56M	-8.28M	-45.32M	-22.07M	-2.74M	2.31M
Debt Issued (Net)	4.67M	7.49M	19.04M	-1.39M	-45.1M	-22.8M	-140K	-106K
Equity Issued (Net)	-14K	1.3M	58.02M	-1.56M	1.24M	2.55M	-2.45M	-3.89M
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-14K	0	0	-6.03M	-3.02M	-1.54M	-9.1M	-7.27M
Other Financing	482K	0	3.5M	-5.33M	-1.46M	-1.82M	-153K	6.31M
Net Change in Cash	12.66M▲ 0%	12.08M▼ 4.6%	78.44M▲ 549.5%	22.4M▼ 71.4%	-51.05M▼ 328.0%	-5.82M▲ 88.6%	13.79M▲ 336.8%	13.25M▲ 0%
Free Cash Flow	7.52M▲ 0%	3.29M▼ 56.3%	-2.13M▼ 164.7%	30.67M▲ 1541.4%	-5.74M▼ 118.7%	16.25M▲ 383.3%	20.07M▲ 23.5%	13.8M▲ 0%
FCF Margin %	9.35%	3.73%	-1.49%	18.1%	-3.81%	11.67%	14.13%	9.86%
FCF Growth %	-	-56.29%	-164.72%	1541.35%	-118.7%	383.33%	23.53%	-30.69%
FCF per Share	0.23	0.09	-0.03	0.38	-0.07	0.19	0.22	0.22
FCF Conversion (FCF/Net Income)	10.02x	-4.44x	-0.40x	-1.22x	-0.04x	-2.37x	-0.94x	-0.67x
Interest Paid	2.71M	2.93M	3.08M	3.91M	5.94M	1.36M	0	0
Taxes Paid	216K	150K	6.92M	975K	3.79M	5.07M	0	4.29M

EXFY Key Ratios

Expensify, Inc. (EXFY) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2020	2021	2022	2023	2024	2025	TTM
Return on Equity (ROE)	-12.15%	-29.9%	-31.07%	-41.88%	-8.78%	-16.39%	-15.26%
Return on Invested Capital (ROIC)	49.42%	-19.33%	-20.88%	-34.52%	-0.73%	-16.75%	-16.75%
Gross Margin	63.2%	62.41%	63.03%	55.61%	53.86%	50.34%	49.61%
Net Margin	-1.94%	-9.49%	-15.93%	-27.51%	-7.22%	-15.05%	-14.68%
Debt / Equity	3.67x	0.91x	0.70x	0.29x	0.05x	0.04x	0.04x
Interest Coverage	2.09x	-2.95x	-2.82x	-6.22x	-0.52x	-	-
FCF Conversion	-4.44x	-0.40x	-1.22x	-0.04x	-2.37x	-0.94x	-0.67x
Revenue Growth	9.46%	62.18%	18.66%	-11.1%	-7.6%	2.06%	-1.25%

EXFY SEC Filings & Documents

Expensify, Inc. (EXFY) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

May 7, 2026·SEC

Material company update

Apr 21, 2026·SEC

Material company update

Feb 26, 2026·SEC

10-K Annual Reports

FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 27, 2025·SEC

10-Q Quarterly Reports

FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

EXFY Frequently Asked Questions

Expensify, Inc. (EXFY) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Expensify, Inc. (EXFY) reported $140.0M in revenue for fiscal year 2025. This represents a 74% increase from $80.5M in 2019.

Expensify, Inc. (EXFY) grew revenue by 2.1% over the past year. Growth has been modest.

Expensify, Inc. (EXFY) reported a net loss of $20.6M for fiscal year 2025.

Dividend & Returns

Expensify, Inc. (EXFY) has a return on equity (ROE) of -16.4%. Negative ROE indicates the company is unprofitable.

Expensify, Inc. (EXFY) generated $13.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Expensify, Inc. (EXFY) financial analysis — history, returns, DCA and operating performance tools

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Expensify, Inc.(EXFY)Earnings, Financials & Key Ratios

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