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Expensify, Inc. (EXFY) 10-Year Financial Performance & Capital Metrics

EXFY • • Industrial / General
TechnologyApplication SoftwareFinancial Technology & PaymentsDigital Banking Platforms
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 $139M -7.6%
  • EBITDA $6M +121.4%
  • Net Income -$10M +75.7%
  • EPS (Diluted) -0.12 +76.0%
  • Gross Margin 53.86% -3.1%
  • EBITDA Margin 4.3% +123.2%
  • Operating Margin -0.59% +97.3%
  • Net Margin -7.22% +73.8%
  • ROE -8.78% +79.0%
  • ROIC -0.73% +97.9%
  • Debt/Equity 0.05 -82.8%
  • Interest Coverage -0.52 +91.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong 5Y sales CAGR of 11.6%
  • ✓Trading at only 1.0x book value

✗Weaknesses

  • ✗Weak momentum: RS Rating 12 (bottom 12%)
  • ✗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.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y11.59%
3Y-0.85%
TTM4.71%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM2.28%

EPS CAGR

10Y-
5Y-
3Y-
TTM-311.32%

ROCE

10Y Avg-5.12%
5Y Avg-6.92%
3Y Avg-12.4%
Latest-0.67%

Peer Comparison

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SSNCSS&C Technologies Holdings, Inc.21B86.0528.686.89%13.86%12.2%6.32%1.09
TBBKThe Bancorp, Inc.3.09B70.3916.4116.11%30.63%29.28%7.2%0.16
CWANClearwater Analytics Holdings, Inc.6.98B24.1914.4022.72%61.25%19.6%0.99%0.07

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+80.46M88.07M142.84M169.5M150.69M139.24M
Revenue Growth %-0.09%0.62%0.19%-0.11%-0.08%
Cost of Goods Sold+31.98M32.41M53.69M62.67M66.89M64.24M
COGS % of Revenue0.4%0.37%0.38%0.37%0.44%0.46%
Gross Profit+48.48M55.66M89.14M106.83M83.8M75M
Gross Margin %0.6%0.63%0.62%0.63%0.56%0.54%
Gross Profit Growth %-0.15%0.6%0.2%-0.22%-0.11%
Operating Expenses+47.23M49.99M99.39M122.06M116.95M75.82M
OpEx % of Revenue0.59%0.57%0.7%0.72%0.78%0.54%
Selling, General & Admin43.12M43.26M88.41M108.37M93.58M51.18M
SG&A % of Revenue0.54%0.49%0.62%0.64%0.62%0.37%
Research & Development4.11M6.73M10.99M13.69M23.37M24.64M
R&D % of Revenue0.05%0.08%0.08%0.08%0.16%0.18%
Other Operating Expenses000000
Operating Income+1.25M5.67M-10.25M-15.23M-33.15M-820K
Operating Margin %0.02%0.06%-0.07%-0.09%-0.22%-0.01%
Operating Income Growth %-3.55%-2.81%-0.49%-1.18%0.98%
EBITDA+4.09M8.09M-5.05M-9.18M-27.98M5.99M
EBITDA Margin %0.05%0.09%-0.04%-0.05%-0.19%0.04%
EBITDA Growth %-0.98%-1.62%-0.82%-2.05%1.21%
D&A (Non-Cash Add-back)2.85M2.42M5.2M6.05M5.16M6.81M
EBIT1.25M5.67M-10.25M-15.23M-33.15M-820K
Net Interest Income+-2.76M-2.72M-3.48M-5.41M-5.33M-1.57M
Interest Income000000
Interest Expense2.76M2.72M3.48M5.41M5.33M1.57M
Other Income/Expense-2.76M-2.72M-3.48M-5.41M-5.33M-1.57M
Pretax Income+-1.51M2.95M-13.73M-20.64M-38.48M-2.39M
Pretax Margin %-0.02%0.03%-0.1%-0.12%-0.26%-0.02%
Income Tax+-2.75M4.66M-174K6.37M2.98M7.66M
Effective Tax Rate %-0.82%-0.58%0.99%1.31%1.08%4.2%
Net Income+1.24M-1.71M-13.56M-27.01M-41.46M-10.05M
Net Margin %0.02%-0.02%-0.09%-0.16%-0.28%-0.07%
Net Income Growth %--2.38%-6.93%-0.99%-0.53%0.76%
Net Income (Continuing)1.24M-1.71M-13.56M-27.01M-41.46M-10.05M
Discontinued Operations000000
Minority Interest000000
EPS (Diluted)+0.04-0.05-0.17-0.33-0.50-0.12
EPS Growth %--2.33%-2.45%-0.94%-0.52%0.76%
EPS (Basic)0.04-0.06-0.17-0.33-0.50-0.12
Diluted Shares Outstanding33.4M34.7M81.4M80.79M82.49M87.38M
Basic Shares Outstanding33.4M29.53M81.4M80.79M82.49M87.38M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+50.51M63.66M157.64M187.12M137.23M136.88M
Cash & Short-Term Investments9.99M34.4M98.4M103.79M47.51M48.77M
Cash Only9.99M34.4M98.4M103.79M47.51M48.77M
Short-Term Investments000000
Accounts Receivable7.99M11.82M21.15M18.92M16.83M13.13M
Days Sales Outstanding36.254954.0440.7440.7634.42
Inventory0008.82M00
Days Inventory Outstanding---51.4--
Other Current Assets31.33M16.51M30.66M46.76M67.25M62.88M
Total Non-Current Assets+26.09M24.07M25.57M23.13M39.55M36.8M
Property, Plant & Equipment18.87M19.1M18.13M15.24M20.81M19.06M
Fixed Asset Turnover4.26x4.61x7.88x11.12x7.24x7.30x
Goodwill000000
Intangible Assets2.95M3.72M6.36M6.88M12.49M16.23M
Long-Term Investments048K0000
Other Non-Current Assets1.41M785K710K664K6.25M1.01M
Total Assets+76.6M87.73M183.21M210.24M176.78M173.68M
Asset Turnover1.05x1.00x0.78x0.81x0.85x0.80x
Asset Growth %-0.15%1.09%0.15%-0.16%-0.02%
Total Current Liabilities+44.6M39.2M53.58M60.36M67.89M38.01M
Accounts Payable3.04M2.33M3.75M1.06M1.43M196K
Days Payables Outstanding34.7326.2125.516.177.781.11
Short-Term Debt6.89M19.03M15.55M15.55M22.66M0
Deferred Revenue (Current)000000
Other Current Liabilities31.29M17.84M24.58M42.76M43.18M29.86M
Current Ratio1.13x1.62x2.94x3.10x2.02x3.60x
Quick Ratio1.13x1.62x2.94x2.95x2.02x3.60x
Cash Conversion Cycle---85.97--
Total Non-Current Liabilities+80.45M34.46M53.02M52.64M8.15M7.43M
Long-Term Debt32.56M30.32M52.07M51.43M00
Capital Lease Obligations2.79M2.35M802K06.47M5.74M
Deferred Tax Liabilities0916K0000
Other Non-Current Liabilities45.1M877K153K1.2M1.68M1.69M
Total Liabilities125.06M73.66M106.6M113M76.04M45.44M
Total Debt+44.3M51.7M69.97M67.78M29.55M6.47M
Net Debt34.3M17.3M-28.43M-36M-17.96M-42.3M
Debt / Equity-3.67x0.91x0.70x0.29x0.05x
Debt / EBITDA10.82x6.39x---1.08x
Net Debt / EBITDA8.38x2.14x----7.06x
Interest Coverage0.45x2.09x-2.95x-2.82x-6.22x-0.52x
Total Equity+-48.46M14.07M76.61M97.24M100.74M128.24M
Equity Growth %-1.29%4.45%0.27%0.04%0.27%
Book Value per Share-1.450.410.941.201.221.47
Total Shareholders' Equity-48.46M14.07M76.61M97.24M100.74M128.24M
Common Stock006K7K8K9K
Retained Earnings-50.64M-52.35M-65.91M-97.57M-140.77M-150.83M
Treasury Stock000000
Accumulated OCI000000
Minority Interest000000

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+12.43M7.58M5.49M32.88M1.56M23.88M
Operating CF Margin %0.15%0.09%0.04%0.19%0.01%0.17%
Operating CF Growth %--0.39%-0.28%4.99%-0.95%14.32%
Net Income1.24M-1.71M-13.56M-27.01M-41.46M-10.05M
Depreciation & Amortization2.85M3.25M5.2M5.39M5.16M6.81M
Stock-Based Compensation1.71M17.84M14.57M52.33M41.21M33.54M
Deferred Taxes-2.85M3.35M-868K26K-113K-42K
Other Non-Cash Items1.28M1.5M1.09M1.59M1.79M1.33M
Working Capital Changes8.21M-16.65M-951K550K-5.04M-7.71M
Change in Receivables-1.96M-2.17M-5.42M-1.34M2.22M704K
Change in Inventory000000
Change in Payables446K-714K1.42M-2.69M228K-1.09M
Cash from Investing+-4.9M-4.29M-7.61M-2.2M-7.29M-7.63M
Capital Expenditures-4.91M-4.3M-2.71M-2.2M-1.38M-7.63M
CapEx % of Revenue0.06%0.05%0.02%0.01%0.01%0.05%
Acquisitions------
Investments------
Other Investing-1.19M-1.31M-4.91M0-5.91M0
Cash from Financing+5.14M8.79M80.56M-8.28M-45.32M-22.07M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid000000
Share Repurchases------
Other Financing482K03.5M-5.33M-1.46M-1.82M
Net Change in Cash------
Free Cash Flow+7.52M3.29M-2.13M30.67M-5.74M16.25M
FCF Margin %0.09%0.04%-0.01%0.18%-0.04%0.12%
FCF Growth %--0.56%-1.65%15.41%-1.19%3.83%
FCF per Share0.230.09-0.030.38-0.070.19
FCF Conversion (FCF/Net Income)10.02x-4.44x-0.40x-1.22x-0.04x-2.37x
Interest Paid2.71M2.93M3.08M3.91M5.94M1.36M
Taxes Paid216K150K6.92M975K3.79M5.07M

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)--12.15%-29.9%-31.07%-41.88%-8.78%
Return on Invested Capital (ROIC)-49.42%-19.33%-20.88%-34.52%-0.73%
Gross Margin60.25%63.2%62.41%63.03%55.61%53.86%
Net Margin1.54%-1.94%-9.49%-15.93%-27.51%-7.22%
Debt / Equity-3.67x0.91x0.70x0.29x0.05x
Interest Coverage0.45x2.09x-2.95x-2.82x-6.22x-0.52x
FCF Conversion10.02x-4.44x-0.40x-1.22x-0.04x-2.37x
Revenue Growth-9.46%62.18%18.66%-11.1%-7.6%

Revenue by Segment

2021202220232024
Interchange---9.2M
Interchange Growth----

Revenue by Geography

2021202220232024
UNITED STATES15.18M154.78M137.37M126.81M
UNITED STATES Growth-919.46%-11.25%-7.69%
Non-US127.65M14.71M13.32M12.43M
Non-US Growth--88.48%-9.45%-6.70%

Frequently Asked Questions

Growth & Financials

Expensify, Inc. (EXFY) reported $143.9M in revenue for fiscal year 2024. This represents a 79% increase from $80.5M in 2019.

Expensify, Inc. (EXFY) saw revenue decline by 7.6% over the past year.

Expensify, Inc. (EXFY) reported a net loss of $15.6M for fiscal year 2024.

Dividend & Returns

Expensify, Inc. (EXFY) has a return on equity (ROE) of -8.8%. Negative ROE indicates the company is unprofitable.

Expensify, Inc. (EXFY) generated $22.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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