Expensify, Inc. Stock Price, News & Analysis

Expensify (NASDAQ: EXFY) has formed a Steering Committee comprising ten global accounting experts to drive innovation in the accounting industry. This committee will guide Expensify's future initiatives, including discussions on product enhancements related to chat and payroll, with meetings scheduled throughout 2023, leading to the prestigious ExpensiCon in Italy.

CEO David Barrett emphasized the committee's potential to keep Expensify at the forefront of accounting. The inaugural meeting was held in December 2022, where the committee addressed the theme 'Every Payment is a Conversation.'

Expensify, Inc. (Nasdaq: EXFY) reported a 19% revenue increase year-over-year, reaching $169.5 million for fiscal 2022, with a strong operating cash flow of $32.9 million. The company's net loss widened to $27 million due to stock-based compensation expenses of $52.3 million. Non-GAAP net income stood at $25.3 million, with an adjusted EBITDA of $42.5 million. For Q4 2022, revenue was $43.5 million with a net loss of $3.4 million, down from $21.9 million in Q4 2021. Expensify repurchased $12.1 million worth of stock as part of its buyback program and plans to continue this trend in 2023.

Expensify (NASDAQ: EXFY) announced that it will release its 2022 full-year financial results after market close on February 23rd, 2023. A live video call to discuss the Q4 results will take place on the same day at 2pm PT / 5pm ET. Interested parties can access the call via the company’s Investor Relations website. Post-call, a full recording, investor deck, and press release summarizing the financial results will also be available on the site. Expensify is a payments superapp with over 12 million users, providing features like corporate cards, expense tracking, and travel booking.

Expensify has been recognized in G2’s 2023 Best Software Awards, ranking in the categories of Global Software Companies and Accounting & Finance Products. This recognition reflects positive user reviews, highlighting the company's commitment to simplifying expense management for businesses. According to Chief Product Officer Jason Mills, the awards validate customer trust and satisfaction. G2's annual awards are based on real user feedback, showcasing the top 100 companies and products across various categories.

Expensify (NASDAQ: EXFY) has announced that George Clooney will be the headline speaker at ExpensiCon, an invite-only global accounting conference in Puglia, Italy. This event brings together industry leaders to discuss innovations in finance and accounting. Alongside Clooney, 100 accounting experts will participate in roundtable discussions and workshops, enhancing networking opportunities. Expensify currently serves over 12 million users with its payments superapp, offering various features like corporate cards and expense tracking. Previous conferences saw participation from major firms like PwC and Deloitte, featuring prominent speakers.

Expensify (NASDAQ: EXFY) announced the repurchase of 681,079 shares, approximately 1% of its total common shares, totaling $12.1 million in 2022. This includes $6.1 million from net share settlements of vested equity incentive awards. The new share buyback program, authorized for up to $50 million, aims to enhance shareholder value and mitigate dilution from stock issuances. CEO David Barrett emphasized the company's commitment to generating positive cash flow and returning excess cash to investors.

Expensify (NASDAQ: EXFY) reported that employees purchased 130,291 shares of Class A common stock during Q4 2022, with executives acquiring 37,242 shares. The total value of these shares amounted to $1,239,067, based on a share price of $9.51. In 2022, employee purchases totaled 272,909 shares at an average price of $13.45. CEO David Barrett is fully invested in the company, contributing his entire salary to the Stock Purchase Matching Plan, indicating strong internal confidence in the company’s future.

Expensify (Nasdaq: EXFY) announced the purchase of 599,080 common shares following their Q3 earnings call on November 10, 2022, bringing the total spent on share repurchases to $10 million year-to-date. The company has a share repurchase program approved for up to $50 million, aimed at enhancing shareholder value by offsetting dilution and reducing share count over time. This strategic move reflects confidence in the company's future growth potential and market position.