Expensify Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue was $33M, with $3.3M of free cash flow and raised FY2026 FCF guidance. New Expensify exceeded $13M ARR, while Travel and Card usage expanded.
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Q2 2026 saw improved profitability, with revenue at $33.9M and free cash flow up 2% year-over-year. New Expensify ARR grew over 250% to $10M, now serving over 56% of users, while share repurchases reduced outstanding shares by 7%.
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The meeting covered director elections, auditor ratification, executive compensation, and amendments for a reverse stock split and share reduction, with all proposals approved. No questions were raised during the Q&A session.
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Q1 2026 revenue declined 6% year-over-year, but profitability remained strong with $2.5M free cash flow and a 10% rise in interchange revenue. April paid active members increased, and management reiterated full-year free cash flow guidance of $6M–$9M.
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AI is reshaping the industry, making collaboration and compliance key differentiators. The company is shifting from building to growth, emphasizing product-led adoption, diversified revenue streams, and aggressive marketing, especially targeting the expanding SMB market.
Fiscal Year 2025
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Revenue for fiscal 2025 was $142.1M with strong cash flow and 24% growth in card interchange. Migration to New Expensify reached 90% of revenue, and travel bookings surged 434% in Q4. 2026 free cash flow guidance is $6M–$9M.
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Q3 revenue was $35.1M with a net loss of $2.3M, but non-GAAP net income reached $4.3M and adjusted EBITDA was $6.5M. Migration to New Expensify is progressing, with strong growth in travel bookings and advanced AI features enhancing the platform.
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The session highlighted ongoing innovation in expense management, with a focus on AI-driven automation, a new mobile-first platform, and expanding transactional products like cards and travel. The company remains lean and cash positive, prioritizing efficient onboarding and a bundled super app vision.
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Revenue and free cash flow grew year-over-year, though net loss widened due to a one-time movie expense. The F1 Movie partnership drove a major surge in brand awareness, and Expensify Travel saw strong growth. Free cash flow guidance was raised for the year.
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A chat-centric, tech-forward expense management platform leverages viral, employee-driven adoption and transparent pricing to target a vast untapped market. With strong profitability, expanding cross-sell opportunities, and a major F1 movie marketing campaign, it aims for sustained growth and brand recognition.
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Q1 revenue grew 8% year over year to $36.1M, with free cash flow up 75% and paid members down 5%. AI-driven features and new pricing were launched, while F1 promotions are expected to drive future growth. Economic uncertainty and tariffs remain key risks.
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Returned to revenue growth with strong margins and major cost reductions. Launched a new travel product, expanded AI-driven support, and plans further product rollouts as money transmission licenses are secured. Preparing for a major brand boost from the F1 movie.
Fiscal Year 2024
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Q4 and FY24 saw strong revenue and free cash flow growth, driven by Expensify Card and efficiency gains from AI. The company is now debt-free, launched Expensify Travel, and set higher FY25 free cash flow guidance, while preparing for a major marketing push.
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Q3 saw revenue of $35.4M, a 6.3% sequential increase, with strong free cash flow and a raised annual guidance to $19–20M. Expensify Card interchange surged 48% year-over-year, and the new platform is driving optimism for future growth.
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Q2 2024 saw stable revenue and paid members, with strong growth in card interchange and free cash flow. New product launches and a high-profile film partnership are driving brand visibility, while annual free cash flow guidance was raised significantly.