EXFY · Expensify, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $33.97M | - | $35.06M | $35.76M | $36.07M | - | $35.41M | $33.29M | $33.53M | - |
| Cost of Revenue | $17.80M | - | $17.67M | $17.19M | $17.83M | - | $17.14M | $14.36M | $14.58M | - |
| Gross Profit | $16.17M | - | $17.40M | $18.58M | $18.24M | - | $18.26M | $18.93M | $18.95M | - |
| R&D | $5.26M | - | $4.91M | $5.16M | $5.36M | - | $5.62M | $6.39M | $5.93M | - |
| SG&A | $9.12M | - | $9.81M | $9.41M | $10.83M | - | $9.08M | $9.24M | $11.43M | - |
| Total Operating Expenses | $18.14M | - | $19.66M | $28.91M | $19.73M | - | $17.98M | $18.71M | $20.74M | - |
| D&A | $2.26M | - | $200.0K | $100.0K | $1.98M | - | $100.0K | $200.0K | $1.42M | - |
| Operating Income | ($1.97M) | - | ($2.26M) | ($10.34M) | ($1.49M) | - | $288.0K | $219.0K | ($1.79M) | - |
| Interest Expense | - | - | - | - | - | - | - | $1.37M | - | - |
| Income Tax | $536.0K | - | $154.0K | ($661.0K) | $2.01M | - | $2.67M | $2.72M | $1.03M | - |
| Net Income | ($2.34M) | - | ($2.31M) | ($8.79M) | ($3.17M) | - | ($2.20M) | ($2.76M) | ($3.78M) | - |
| EPS - Basic | ($0.02) | - | ($0.03) | ($0.10) | ($0.03) | - | ($0.02) | ($0.03) | ($0.04) | - |
| EPS - Diluted | ($0.02) | - | ($0.03) | ($0.10) | ($0.03) | - | ($0.02) | ($0.03) | ($0.04) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $66.53M | $63.08M | $61.45M | $60.52M | $59.63M | $48.77M | $39.17M | $53.23M | $49.34M | $47.51M |
| Accounts Receivable | $12.12M | $12.62M | $12.31M | $12.25M | $12.55M | $12.70M | $12.65M | $13.42M | $13.56M | $13.83M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $938.0K | $289.0K | $710.0K | $1.56M | $526.0K | $196.0K | $1.03M | $1.02M | $1.37M | $1.43M |
| Current Assets | $158.22M | $153.01M | $152.60M | $152.28M | $153.71M | $136.88M | $138.54M | $155.77M | $143.19M | $137.23M |
| Total Assets | $190.60M | $185.99M | $186.84M | $187.14M | $189.24M | $173.68M | $176.25M | $192.87M | $184.77M | $176.78M |
| Current Liabilities | $45.34M | $46.41M | $44.39M | $48.42M | $47.26M | $38.01M | $48.34M | $70.81M | $70.32M | $67.89M |
| Long-term Debt | - | - | - | - | - | - | - | $0 | $0 | $0 |
| Total Liabilities | $52.07M | $53.24M | $51.17M | $55.32M | $54.59M | $45.44M | $56.31M | $78.87M | $78.26M | $76.04M |
| Stockholders' Equity | $138.53M | $132.75M | $135.66M | $131.81M | $134.65M | $128.24M | $119.93M | $114.00M | $106.51M | $100.74M |
| Retained Earnings | ($174.55M) | ($172.22M) | ($165.10M) | ($162.78M) | ($154.00M) | ($150.83M) | ($149.52M) | ($147.32M) | ($144.55M) | ($140.77M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $118.0K | - | - | - | $4.80M | - | - | - | $3.47M | - |
| Investing Cash Flow | ($1.41M) | - | - | - | ($498.0K) | - | - | - | ($2.83M) | - |
| Financing Cash Flow | $6.27M | - | - | - | $1.21M | - | - | - | $845.0K | - |
| CapEx | - | - | - | - | - | - | - | - | $0 | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | $3.47M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 47.6% | - | 49.6% | 51.9% | 50.6% | - | 51.6% | 56.9% | 56.5% | - |
| Operating margin | -5.8% | - | -6.4% | -28.9% | -4.1% | - | 0.8% | 0.7% | -5.3% | - |
| EBITDA margin | 0.8% | - | -5.9% | -28.6% | 1.4% | - | 1.1% | 1.3% | -1.1% | - |
| Net margin | -6.9% | - | -6.6% | -24.6% | -8.8% | - | -6.2% | -8.3% | -11.3% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | 10.4% | - |
| FCF / Net income | - | - | - | - | - | - | - | - | -0.92 | - |
| R&D / Revenue | 15.5% | - | 14.0% | 14.4% | 14.9% | - | 15.9% | 19.2% | 17.7% | - |
| SG&A / Revenue | 26.8% | - | 28.0% | 26.3% | 30.0% | - | 25.7% | 27.8% | 34.1% | - |
| Effective tax rate | - | - | - | - | - | - | 568.7% | - | - | - |
| Return on assets | -1.2% | - | -1.2% | -4.7% | -1.7% | - | -1.2% | -1.4% | -2.0% | - |
| Return on equity | -1.7% | - | -1.7% | -6.7% | -2.4% | - | -1.8% | -2.4% | -3.5% | - |
| Return on invested capital | - | - | - | - | - | - | - | 0.2% | -1.3% | - |
| Liquidity | ||||||||||
| Current ratio | 3.49 | 3.30 | 3.44 | 3.14 | 3.25 | 3.60 | 2.87 | 2.20 | 2.04 | 2.02 |
| Quick ratio | 3.49 | 3.30 | 3.44 | 3.14 | 3.25 | 3.60 | 2.87 | 2.20 | 2.04 | 2.02 |
| Cash ratio | 1.47 | 1.36 | 1.38 | 1.25 | 1.26 | 1.28 | 0.81 | 0.75 | 0.70 | 0.70 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | 0.00 | 0.00 | 0.00 |
| Debt / Assets | - | - | - | - | - | - | - | 0.00 | 0.00 | 0.00 |
| Debt / EBITDA | - | - | - | - | - | - | - | 0.00 | - | - |
| Interest coverage | - | - | - | - | - | - | - | 0.2x | - | - |
| Equity multiplier | 1.38 | 1.40 | 1.38 | 1.42 | 1.41 | 1.35 | 1.47 | 1.69 | 1.73 | 1.75 |
| Liabilities / Assets | 0.27 | 0.29 | 0.27 | 0.30 | 0.29 | 0.26 | 0.32 | 0.41 | 0.42 | 0.43 |
| Efficiency | ||||||||||
| Asset turnover | 0.18 | - | 0.19 | 0.19 | 0.19 | - | 0.20 | 0.17 | 0.18 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 130d | - | 128d | 125d | 127d | - | 130d | 147d | 148d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 19d | - | 15d | 33d | 11d | - | 22d | 26d | 34d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 0.6x | - | 1.3x | 1.8x | 2.1x | - | 1.4x | 1.1x | 1.5x | - |
| P / S | 2.4x | - | 4.9x | 6.7x | 7.7x | - | 4.9x | 3.9x | 4.7x | - |
| EV / EBITDA | 52.8x | - | - | - | 440.6x | - | 344.5x | 180.9x | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -5.8% | - | -1.0% | 7.4% | 7.6% | - | -3.0% | -14.4% | -16.4% | - |
| Revenue CAGR (3y) | -5.4% | - | -6.2% | -6.1% | -3.7% | - | 17.7% | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -11.4% | - | -4.7% | -1.8% | -3.7% | - | -2.9% | -13.8% | -22.1% | - |
| Operating income growth (YoY) | -32.6% | - | - | - | 17.1% | - | - | - | 33.7% | - |
| Net income growth (YoY) | 26.3% | - | -5.3% | -217.9% | 16.2% | - | 87.1% | 75.5% | 36.4% | - |
| EPS growth (YoY) | 33.3% | - | -50.0% | -233.3% | 25.0% | - | 90.5% | 78.6% | 42.9% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | -54.4% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 2.9% | 3.5% | 13.1% | 15.6% | 26.4% | 27.3% | 26.2% | 14.2% | 3.7% | 3.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$142.10M totalSubscription Fees$130.54M · 91.9%
Interchange$21.28M · 15.0%
Product And Service Other$365.0K · 0.3%
Cashback Rewards($10.09M) · -7.1%
Geographic
$142.10M totalUS$129.64M · 91.2%
Non Us$12.46M · 8.8%
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing Expensify against the 5 most active filers in the same SIC group.