Expensify, Inc. (EXFY) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 17, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the EXFY SEC filings page.
Expensify, Inc. (EXFY) reported $142.1M in revenue for fiscal year 2025, up 2.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The business still turns sales into cash, but FY2025’s cost structure erased the near break-even operating result.
FY2025 operating cash flow and free cash flow were both about$20.1M , showing that the reported net loss did not translate into an equivalent cash drain. That cash result was weaker than FY2024’s$23.9M operating cash flow, so cash conversion remained positive while profitability deteriorated.
Revenue was nearly flat from FY2024 to FY2025, yet gross margin fell from
Liabilities increased from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Expensify, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Expensify, Inc. held $63.1M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations generated $20.1M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Expensify, Inc. scores 85/100 among other emerging companies.
Not available for Expensify, Inc., and counted as zero in the overall score.
Expensify, Inc. spent $20.7M on research and development in fiscal year 2025, which was 12.9% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Expensify, Inc. scores 41/100 among other emerging companies.
Expensify, Inc. reported revenue of $142.1M in fiscal year 2025, against $139.2M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Expensify, Inc. scores 40/100 among other emerging companies.
Not available for Expensify, Inc., and counted as zero in the overall score.
Expensify, Inc.'s cash, cash equivalents and investments came to $63.1M at the end of fiscal year 2025, against $53.2M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Expensify, Inc. scores 63/100 among other emerging companies.
Expensify, Inc. scores 2.32, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($220.7M) relative to total liabilities ($53.2M). This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Expensify, Inc. passes 2 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
Expensify, Inc. reported a net loss of $21.4M while generating $20.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Expensify, Inc. reported an operating loss of $18.0M against $100K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Expensify, Inc. generated $33.9M in revenue in Q2 2026. This represents a decrease of 5.3% from the same quarter a year earlier. Against the prior quarter it is down 0.3%.
Expensify, Inc.'s EBITDA was -$521K in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 93.8% from the same quarter a year earlier. Against the prior quarter it is down 283.5%.
Expensify, Inc. reported -$3.9M in net income in Q2 2026. This represents an increase of 56.2% from the same quarter a year earlier. Against the prior quarter it is down 64.8%.
Expensify, Inc. earned -$0.04 per diluted share (EPS) in Q2 2026. This represents an increase of 60.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.
Cash & Balance Sheet
Expensify, Inc. held $65.8M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Expensify, Inc.'s gross margin was 48.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
Expensify, Inc.'s operating margin was -8.6% in Q2 2026, reflecting core business profitability. This is up 20.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.8 percentage points.
Expensify, Inc.'s net profit margin was -11.4% in Q2 2026, showing the share of revenue converted to profit. This is up 13.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.5 percentage points.
Expensify, Inc.'s ROE was -2.9% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.
Capital Allocation
Expensify, Inc. invested $5.0M in research and development in Q2 2026. This represents a decrease of 3.4% from the same quarter a year earlier. Against the prior quarter it is down 5.4%.
Not reported for Q2 2026.
Not reported for Q2 2026.
EXFY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $33.9M-5.3% | $34.0M-5.8% | $35.2M-4.9% | $35.1M-1.0% | $35.8M+7.4% | $36.1M+7.6% | $37.0M+5.1% | $35.4M-3.0% |
| Cost of Revenue | $17.5M+2.0% | $17.8M-0.2% | $17.9M+146.0% | $17.7M+3.0% | $17.2M+19.7% | $17.8M+22.3% | -$38.9M+3.4% | $17.1M-3.0% |
| Gross Profit | $16.3M-12.1% | $16.2M-11.4% | $17.3M-8.2% | $17.4M-4.7% | $18.6M-1.8% | $18.2M-3.7% | $18.9M+0.8% | $18.3M-2.9% |
| R&D Expenses | $5.0M-3.4% | $5.3M-1.7% | $5.3M-21.5% | $4.9M-12.7% | $5.2M-19.3% | $5.4M-9.6% | $6.7M+7.2% | $5.6M-15.0% |
| SG&A Expenses | $9.6M+1.9% | $9.1M-15.8% | $12.1M+40.0% | $9.8M+8.0% | $9.4M+1.8% | $10.8M-5.3% | $8.6M-20.5% | $9.1M-36.2% |
| Operating Income | -$2.9M+71.7% | -$2.0M-32.6% | -$3.9M-944.8% | -$2.3M-883.7% | -$10.3M-4820.5% | -$1.5M+17.1% | $466K+107.8% | $288K+101.9% |
| EBITDA | -$521K+93.8% | $284K-42.7% | $340K-93.8% | -$2.1M-587.4% | -$8.3M-1940.6% | $496K+234.1% | $5.5M+276.6% | $422K+102.9% |
| Income Tax | $1.1M+271.3% | $536K-73.3% | $3.6M+190.3% | $154K-94.2% | -$661K-124.3% | $2.0M+94.0% | $1.2M+18.1% | $2.7M+1087.8% |
| Net Income | -$3.9M+56.2% | -$2.3M+26.3% | -$7.1M-442.5% | -$2.3M-5.3% | -$8.8M-217.9% | -$3.2M+16.2% | -$1.3M+81.8% | -$2.2M+87.1% |
| EPS (Basic) | -$0.04+60.0% | -$0.02+33.3% | -$0.08-300.0% | -$0.03-50.0% | -$0.10-233.3% | -$0.03+25.0% | -$0.02+75.0% | -$0.02+90.5% |
| EPS (Diluted) | -$0.04+60.0% | -$0.02+33.3% | -$0.08-300.0% | -$0.03-50.0% | -$0.10-233.3% | -$0.03+25.0% | -$0.02+75.0% | -$0.02+90.5% |
| Diluted Shares (Avg) | 95M+3.4% | 94M+2.4% | N/A | 93M+5.0% | 92M+6.6% | 92M+7.5% | N/A | 88M+6.9% |
Not reported in any period shown, so not listed: Interest Expense.
EXFY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $185.4M-0.9% | $190.6M+0.7% | $186.0M+7.1% | $186.8M+6.0% | $187.1M-3.0% | $189.2M+2.4% | $173.7M-1.8% | $176.2M-17.0% |
| Current Assets | $154.2M+1.3% | $158.2M+2.9% | $153.0M+11.8% | $152.6M+10.2% | $152.3M-2.2% | $153.7M+7.3% | $136.9M-0.3% | $138.5M-22.9% |
| Cash & Equivalents | $65.8M+8.7% | $66.5M+11.6% | $63.1M+29.3% | $61.5M+56.9% | $60.5M+13.7% | $59.6M+20.8% | $48.8M+2.7% | $39.2M-56.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Receivable | $11.2M-8.8% | $12.1M-3.5% | $12.6M-0.7% | $12.3M-2.7% | $12.2M-8.7% | $12.6M-7.4% | $12.7M-8.2% | $12.7M-12.8% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $50.8M-8.1% | $52.1M-4.6% | $53.2M+17.2% | $51.2M-9.1% | $55.3M-29.9% | $54.6M-30.3% | $45.4M-40.2% | $56.3M-52.0% |
| Current Liabilities | $44.1M-8.9% | $45.3M-4.1% | $46.4M+22.1% | $44.4M-8.2% | $48.4M-31.6% | $47.3M-32.8% | $38.0M-44.0% | $48.3M-34.5% |
| Non-Current Liabilities | $6.7M-2.2% | $6.7M-8.1% | $6.8M-7.9% | $6.8M-15.0% | $6.9M-14.5% | $7.3M-7.8% | $7.4M-8.8% | $8.0M-81.7% |
| Total Equity | $134.6M+2.1% | $138.5M+2.9% | $132.7M+3.5% | $135.7M+13.1% | $131.8M+15.6% | $134.7M+26.4% | $128.2M+27.3% | $119.9M+26.2% |
| Retained Earnings | -$178.4M-9.6% | -$174.6M-13.3% | -$172.2M-14.2% | -$165.1M-10.4% | -$162.8M-10.5% | -$154.0M-6.5% | -$150.8M-7.1% | -$149.5M-11.9% |
Not reported in any period shown, so not listed: Inventory, Goodwill, Long-Term Debt.
EXFY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.4M+3.0% | $118K-98.5% | $2.2M-70.3% | $1.8M-49.9% | $8.2M-12.2% | $7.9M+126.3% | $7.4M+1463.2% | $3.7M+172.2% |
| Depreciation & Amortization | $2.4M+20.0% | $2.3M+13.8% | $2.3M+16.2% | $200K+49.3% | $2.0M+754.7% | $2.0M+39.4% | $2.0M+51.8% | $134K-51.6% |
| Stock-Based Compensation | $7.2M+4.1% | $6.0M-25.2% | N/A | $6.7M-12.7% | $6.9M-17.3% | $8.0M+6.2% | N/A | $7.6M-25.7% |
| Capital Expenditures | N/A | N/A | $0 | $0 | N/A | N/A | $0-100.0% | $0-100.0% |
| Free Cash Flow | N/A | N/A | $2.2M-70.3% | $1.8M-49.9% | N/A | N/A | $7.4M+998.3% | $3.7M+164.3% |
| Investing Cash Flow | -$1.1M+8.1% | -$1.4M-183.5% | -$798K+14.1% | -$1.1M+40.8% | -$1.2M+42.4% | -$498K+82.4% | -$929K+62.3% | -$1.8M+20.7% |
| Financing Cash Flow | -$7.3M-687.6% | $6.3M+440.0% | -$1.2M-30.0% | $1.2M+105.2% | -$931K-195.9% | -$1.8M-318.1% | -$893K+97.4% | -$23.0M-3537.4% |
| Share Buybacks | N/A | N/A | $3.0M | $3.0M+100.7% | N/A | N/A | $0 | $1.5M |
Not reported in any period shown, so not listed: Dividends Paid.
EXFY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.2%-3.7pp | 47.6%-3.0pp | 49.2%-1.8pp | 49.6%-2.0pp | 51.9%-4.9pp | 50.6%-5.9pp | 51.0%-2.1pp | 51.6%0.0pp |
| Operating Margin | -8.6%+20.3pp | -5.8%-1.7pp | -11.2%-12.4pp | -6.4%-7.2pp | -28.9%-29.6pp | -4.1%+1.2pp | 1.3%+18.3pp | 0.8%+41.6pp |
| Net Margin | -11.4%+13.2pp | -6.9%+1.9pp | -20.2%-16.7pp | -6.6%-0.4pp | -24.6%-16.3pp | -8.8%+2.5pp | -3.5%+16.9pp | -6.2%+40.4pp |
| Return on Equity | -2.9%+3.8pp | -1.7%+0.7pp | -5.4%-4.3pp | -1.7%+0.1pp | -6.7%-4.3pp | -2.4%+1.2pp | -1.0%+6.1pp | -1.8%+16.1pp |
| Return on Assets | -2.1%+2.6pp | -1.2%+0.4pp | -3.8%-3.1pp | -1.2%0.0pp | -4.7%-3.3pp | -1.7%+0.4pp | -0.8%+3.3pp | -1.3%+6.8pp |
| Current Ratio | 3.50+0.4x | 3.49+0.2x | 3.30-0.3x | 3.44+0.6x | 3.14+0.9x | 3.25+1.2x | 3.60+1.6x | 2.87+0.4x |
| Debt-to-Equity | 0.380.0x | 0.380.0x | 0.400.0x | 0.38-0.1x | 0.42+0.4x | 0.41+0.4x | 0.35+0.4x | 0.47+0.1x |
| Asset Turnover | 0.180.0x | 0.180.0x | 0.190.0x | 0.190.0x | 0.190.0x | 0.190.0x | 0.210.0x | 0.200.0x |
| FCF Margin | N/A | N/A | 6.3%-13.7pp | 5.3%-5.1pp | N/A | N/A | 20.0%+22.3pp | 10.4%+26.1pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Expensify, Inc. EXFY | FY2025 | $142.1M | -$21.4M | -15.0% | $220.7M | 38/100 |
| Digimarc Corporation DMRC | FY2025 | $33.9M | -$32.3M | -95.3% | $150.6M | 36/100 |
| AudioEye, Inc. AEYE | FY2025 | $40.3M | -$3.1M | -7.6% | $83.7M | 45/100 |
| SoundThinking, Inc. SSTI | FY2025 | $104.1M | -$9.4M | -9.0% | $109.5M | 46/100 |
| Health In Tech, Inc. HIT | FY2025 | $33.3M | $1.3M | 3.8% | $42.6M | 40/100 |
| Asure Software, Inc ASUR | FY2025 | $140.5M | -$13.1M | -9.3% | $204.5M | 42/100 |
Where Expensify, Inc. Ranks
Frequently Asked Questions
What is Expensify, Inc.'s annual revenue?
Expensify, Inc. (EXFY) reported $142.1M in total revenue for fiscal year 2025. This represents a 2.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Expensify, Inc.'s revenue growing?
Expensify, Inc. (EXFY) revenue grew by 2.1% year-over-year, from $139.2M to $142.1M in fiscal year 2025.
Is Expensify, Inc. profitable?
No, Expensify, Inc. (EXFY) reported a net income of -$21.4M in fiscal year 2025, with a net profit margin of -15.0%.
What is Expensify, Inc.'s EBITDA?
Expensify, Inc. (EXFY) had EBITDA of -$9.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Expensify, Inc.'s gross margin?
Expensify, Inc. (EXFY) had a gross margin of 50.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Expensify, Inc.'s operating margin?
Expensify, Inc. (EXFY) had an operating margin of -12.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Expensify, Inc.'s net profit margin?
Expensify, Inc. (EXFY) had a net profit margin of -15.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Expensify, Inc.'s return on equity (ROE)?
Expensify, Inc. (EXFY) has a return on equity of -16.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Expensify, Inc.'s free cash flow?
Expensify, Inc. (EXFY) generated $20.1M in free cash flow during fiscal year 2025. This represents a -15.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Expensify, Inc.'s operating cash flow?
Expensify, Inc. (EXFY) generated $20.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Expensify, Inc.'s total assets?
Expensify, Inc. (EXFY) had $186.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Expensify, Inc.'s capital expenditures?
Expensify, Inc. (EXFY) invested $17K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Expensify, Inc. spend on research and development?
Expensify, Inc. (EXFY) invested $20.7M in research and development during fiscal year 2025.
What is Expensify, Inc.'s current ratio?
Expensify, Inc. (EXFY) had a current ratio of 3.30 as of fiscal year 2025, which is generally considered healthy.
What is Expensify, Inc.'s debt-to-equity ratio?
Expensify, Inc. (EXFY) had a debt-to-equity ratio of 0.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Expensify, Inc.'s return on assets (ROA)?
Expensify, Inc. (EXFY) had a return on assets of -11.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Expensify, Inc.'s P/E ratio?
Expensify, Inc. (EXFY) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $220.7M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Expensify, Inc.'s price-to-sales ratio?
Expensify, Inc. (EXFY) trades at 1.6x sales, its market capitalization divided by revenue of $138.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $220.7M as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Expensify, Inc.'s Altman Z-Score?
Expensify, Inc. (EXFY) has an Altman Z-Score of 2.32, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Expensify, Inc.'s Piotroski F-Score?
Expensify, Inc. (EXFY) has a Piotroski F-Score of 2 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Expensify, Inc.'s earnings high quality?
Expensify, Inc. (EXFY) reported a net loss of $21.4M while generating $20.1M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Expensify, Inc. cover its interest payments?
Expensify, Inc. (EXFY) reported an operating loss of $18.0M against $100K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Expensify, Inc.?
Expensify, Inc. (EXFY) scores 38 out of 100 on our Financial Health Score, indicating weak standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.