Expensify, Inc. - EXFY STOCK NEWS

Expensify (NASDAQ: EXFY) has announced a significant pricing update for its Collect plan, introducing a simplified flat rate of $5 per member per month for small and medium-sized businesses (SMBs). The new pricing model provides access to Expensify's complete suite of features, including expense tracking, corporate cards, travel booking, and team chat.

The company is implementing equivalent pricing internationally: £5 GBP in the UK, $8 AUD in Australia, and $9 NZD in New Zealand. According to Chief Product Officer Jason Mills, this strategic move aims to better serve the traditionally underserved SMB market with transparent, predictable pricing, distinguishing itself from competitors who primarily focus on enterprise sales.

Expensify (NASDAQ: EXFY) reported Q4 and full year 2024 results, with Q4 revenue reaching $37.0 million, up 5% year-over-year. The company achieved significant AI integration milestones, reducing costs and improving efficiency across operations.

Key financial highlights include:

• FY2024 revenue of $139.2 million, down 8% from prior year
• Generated $23.9 million in operating cash flow and free cash flow
• FY2024 net loss of $10.1 million, improved 76% year-over-year
• Adjusted EBITDA of $39.4 million, up 199% year-over-year
• Expensify Card interchange revenue grew to $17.2 million, up 54%

The company eliminated all debt by paying off $22.7 million in 2024. Paid members stood at 687,000, showing a slight increase from Q3 2024. For FY2025, Expensify projects free cash flow between $16.0-$20.0 million.

Expensify (NASDAQ: EXFY) has announced a new share repurchase program authorizing up to $50 million of Class A common stock. This program replaces the previous 2022 buyback initiative and will run until March 31, 2028.

The company's CFO Ryan Schaffer highlighted that successful cost-cutting measures have led to increased free cash flow, creating an attractive buying opportunity. Having become debt-free last year, Expensify views buybacks as a logical way to utilize free cash flow and return value to shareholders.

The repurchase program aims to offset dilution from stock issuances and reduce share count over time. Shares may be repurchased through open market purchases, private transactions, or other means, including Rule 10b5-1 trading plans. The program's timing and amount will depend on market conditions, regulatory requirements, and stock prices, and can be suspended or discontinued at any time.

Expensify (NASDAQ: EXFY) has announced the full launch of Expensify Travel, its comprehensive corporate travel management tool, following a successful early release phase. The platform integrates travel booking, policy enforcement, and real-time collaboration into a unified experience, accessible via web, mobile, and desktop applications.

The new tool enables users to book and manage flights, hotels, rail, and car rentals while ensuring corporate policy compliance. Key features include:

• Seamless booking system with policy-compliant options
• Real-time, policy-driven approval process
• Centralized virtual card payments
• Automated expense reporting and receipt capture
• Dedicated chat rooms for traveler-manager communication

Expensify (EXFY), the payments superapp company, has announced its participation in two upcoming investor events in March 2025. The company will attend the Citizens JMP Technology Conference on March 3 at 11:00 am PT in San Francisco, CA, and the Loop Capital Markets Annual Investor Conference on March 10, which will be held virtually with one-on-one meetings only.

Both events will be accessible to investors through live webcasts and replays available on Expensify's investor relations website at investors.expensify.com. These events provide opportunities for investors to gain insights into the company that helps individuals and businesses manage money across expenses, corporate cards, and bills.

Expensify (NASDAQ: EXFY) has announced it will release its Q4 and full year fiscal 2024 financial results after market close on Thursday, February 27th, 2025. The company will host an earnings call the same day at 2pm PT / 5pm ET to discuss the results.

The earnings call link will be available on Expensify's Investor Relations website at investors.expensify.com, where interested parties can add the event to their calendars. Following the call, the company will make available a full recording, an investor deck, and a press release summarizing the financial results.

Expensify (NASDAQ: EXFY) reported Q3 2024 results with revenue of $35.4 million, down 3% year-over-year. The company's paid members decreased 5% to 684,000, though remaining stable for two quarters. Notable improvements include interchange from Expensify Card growing 48% to $4.6 million and free cash flow of $6.7 million. The company increased its FY'24 free cash flow guidance by 27% to $19.0-$20.0 million. The new card program has achieved 94% transition of spend, and Expensify Travel completed its initial beta phase, generating new revenue. The company reported a net loss of $2.2 million, improved from $17.0 million loss in the same period last year.

Expensify (Nasdaq: EXFY) has announced it will release its Q3 2024 financial results after market close on Thursday, November 7th, 2024. The company will host an earnings call the same day at 2pm PT / 5pm ET to discuss the results. The call link will be available on Expensify's Investor Relations website, where investors can also add the event to their calendars. Following the call, the company will provide access to the recording, investor deck, and press release summarizing the financial results.

Expensify (Nasdaq: EXFY) has made significant financial moves, demonstrating improved business health. The company has paid off all its debts, including a $15 million revolving line of credit and a $7.6 million mortgage on its Portland headquarters. Additionally, Expensify repurchased 645,938 shares of its Class A common stock at an average price of $2.34 per share.

CFO Ryan Schaffer highlighted the company's progress, citing positive cash flows for the past two quarters and the completion of a multi-year product revamp. The share repurchase program aims to offset dilution and reduce share count over time. Expensify retains access to a $24 million revolving credit line if needed, positioning itself for future growth and product development.