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Expensify, Inc. provides a cloud-based expense management software platform in the United States and internationally. The company offers Expensify, a platform that engages in managing corporate cards, paying bills, generating invoices, collecting payments, and booking travel, as well as track and submit plans for individuals. It serves individuals and corporations, small and midsized businesses, and enterprises. The company was founded in 2008 and is based in San Francisco, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $142M | $-10M | $-21M | $17M | -16.1% | 2.1% | 112.7% |
| 2024 | $139M | $6M | $-10M | $16M | -7.8% | -7.6% | -75.7% |
| 2023 | $151M | $-28M | $-41M | $-6M | -41.1% | -11.1% | 53.5% |
| 2022 | $169M | $-10M | $-27M | $31M | -27.8% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 169.50 | 150.69 | 139.24 | 142.10 |
| Operating Revenue | - | 169.50 | 150.69 | 139.24 | 142.10 |
| Cost Of Revenue | - | 62.67 | 66.89 | 64.24 | 70.57 |
| Gross Profit | - | 106.83 | 83.80 | 75 | 71.53 |
| Operating Expense | - | 122.06 | 116.95 | 75.82 | 89.55 |
| Research And Development | - | 13.69 | 23.37 | 24.64 | 20.68 |
| Selling General And Administration | - | 108.37 | 93.58 | 51.18 | 68.86 |
| Total Expenses | - | 184.73 | 183.84 | 140.06 | 160.12 |
| Operating Income | - | -15.23 | -33.15 | -0.82 | -18.02 |
| Total Operating Income As Reported | - | -15.23 | -33.15 | -0.82 | -18.02 |
| EBITDA | - | -9.84 | -27.98 | 5.99 | -9.56 |
| Normalized EBITDA | - | -9.84 | -27.98 | 5.99 | -9.56 |
| EBIT | - | -15.23 | -33.15 | -0.82 | -18.02 |
| Interest Expense | 3.48 | 5.41 | 5.33 | 1.57 | - |
| Net Interest Income | -3.48 | -5.41 | -5.33 | -1.57 | - |
| Other Non Operating Income Expenses | - | - | - | -1.57 | 1.73 |
| Other Income Expense | - | - | - | -1.57 | 1.73 |
| Interest Expense Non Operating | 3.48 | 5.41 | 5.33 | 1.57 | - |
| Net Non Operating Interest Income Expense | -3.48 | -5.41 | -5.33 | -1.57 | - |
| Pretax Income | - | -20.64 | -38.48 | -2.39 | -16.29 |
| Tax Provision | - | 6.37 | 2.98 | 7.66 | 5.10 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -27.01 | -41.46 | -10.06 | -21.39 |
| Net Income From Continuing And Discontinued Operation | - | -27.01 | -41.46 | -10.06 | -21.39 |
| Net Income From Continuing Operation Net Minority Interest | - | -27.01 | -41.46 | -10.06 | -21.39 |
| Net Income | - | -27.01 | -41.46 | -10.06 | -21.39 |
| Net Income Common Stockholders | - | -27.01 | -41.46 | -10.06 | -21.39 |
| Net Income Including Noncontrolling Interests | - | -27.01 | -41.46 | -10.06 | -21.39 |
| Normalized Income | - | -27.01 | -41.46 | -10.06 | -21.39 |
| Diluted NI Availto Com Stockholders | - | -27.01 | -41.46 | -10.06 | -21.39 |
| Basic Average Shares | 38.04 | 80.79 | 82.49 | 87.38 | - |
| Diluted Average Shares | 38.04 | 80.79 | 82.49 | 87.38 | - |
| Reconciled Depreciation | - | 5.39 | 5.16 | 6.81 | 8.46 |
| Reconciled Cost Of Revenue | - | 62.67 | 66.89 | 64.24 | 70.57 |
| General And Administrative Expense | - | 58.49 | 49.23 | 38.38 | 42.12 |
| Other Gand A | - | 58.49 | 49.23 | 38.38 | 42.12 |
| Selling And Marketing Expense | - | 49.88 | 44.35 | 12.80 | 26.74 |
| Otherunder Preferred Stock Dividend | 0 | - | - | - | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Expensify, Inc.this co. | EXFY | $111M | -5.19 | 0.84 | -16.1% | -5.60 |
| Nerdy Inc. | NRDY | $158M | -3.97 | 8.33 | -210.0% | -2.40 |
| Tucows Inc. | TCX | $153M | -2.01 | -0.93 | 46.2% | 18.01 |
| MicroVision, Inc. | MVIS | $143M | -1.50 | 2.57 | -171.0% | -2.08 |
| TTEC Holdings, Inc. | TTEC | $112M | - | 1.17 |
| - |
| - |
| - |
| - |
| - |
| -202.5% |
| - |
| Airship AI Holdings, Inc. | AISP | $108M | 3.69 | -15.13 | -410.1% | -14.22 |
| SoundThinking, Inc. | SSTI | $99M | -10.51 | 1.37 | -13.1% | 159.23 |
| CSP Inc. | CSPI | $94M | -1029.32 | 2.10 | -0.2% | -114.33 |
| AudioEye, Inc. | AEYE | $90M | -29.36 | 18.80 | -64.1% | 177.33 |
| Peer Median | - | -3.97 | 1.74 | -117.5% | -2.08 | |