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Expensify (NASDAQ: EXFY) clears Nasdaq minimum bid price hurdle

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Expensify, Inc. reports that it has resolved a Nasdaq listing issue related to its share price. On April 17, 2026, the company received a deficiency letter after its Class A common stock closed below $1.00 per share for 30 consecutive business days, breaching Nasdaq’s Minimum Bid Price Requirement under Listing Rule 5450(a)(1).

Nasdaq later notified Expensify that, from May 13, 2026 to May 27, 2026, the stock’s closing bid price had been at or above $1.00 for 10 straight business days. As of May 28, 2026, the company has regained compliance and Nasdaq considers the matter closed.

Positive

  • Regained Nasdaq compliance: After meeting the $1.00 minimum bid for 10 consecutive business days, Expensify restored compliance with Nasdaq Listing Rule 5450(a)(1), removing an immediate delisting threat.

Negative

  • None.

Insights

Expensify has restored compliance with Nasdaq’s minimum bid price rule, removing an immediate delisting risk.

Expensify previously fell out of compliance because its Class A common stock traded below $1.00 per share for 30 consecutive business days. This triggered a Nasdaq deficiency notice tied to the Minimum Bid Price Requirement under Listing Rule 5450(a)(1).

Nasdaq now confirms the stock closed at or above $1.00 for 10 straight business days ending May 27, 2026, restoring compliance as of May 28, 2026. This keeps the company listed on the Nasdaq Global Select Market, though future compliance will still depend on ongoing share price performance.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Minimum bid price threshold $1.00 per share Nasdaq Listing Rule 5450(a)(1) requirement
Non-compliance period length 30 consecutive business days Period with closing bid below $1.00 before April 17, 2026 notice
Compliance restoration period 10 consecutive business days May 13–27, 2026 with closing bid at or above $1.00
Deficiency notice date April 17, 2026 Nasdaq deficiency letter to Expensify
Compliance regained date May 28, 2026 Nasdaq confirmed Expensify met Minimum Bid Price Requirement
Minimum Bid Price Requirement regulatory
"had been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”)."
A minimum bid price requirement is a rule that a stock must trade above a set price for a specified period to stay listed on an exchange. It matters to investors because falling below that threshold can trigger warnings or removal from the exchange, which can cut liquidity, reduce visibility, and often lead to sharper declines in share value—think of it like a venue’s minimum dress code that, if not met, can bar a performer from the stage.
Nasdaq Global Select Market regulatory
"required for continued listing on The Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1)"
A Nasdaq Global Select Market listing is the highest tier of stocks on the Nasdaq exchange, reserved for companies that meet the strictest financial, reporting and governance standards. For investors, it acts like a premium quality label—signaling larger, more transparent and better-governed companies that tend to offer greater liquidity and lower perceived risk compared with lower-tier listings, making it easier to buy, sell and evaluate shares.
deficiency letter regulatory
"the Company received a deficiency letter from the Nasdaq Listing Qualifications Department (the “Staff”)"
Nasdaq Listing Rule 5450(a)(1) regulatory
"required for continued listing on The Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1)"
Nasdaq Listing Rule 5450(a)(1) is a continued-listing standard that sets a minimum share price companies must maintain to remain listed on the Nasdaq market—commonly a $1.00 per-share threshold. Investors care because falling below that floor can trigger a compliance review and possible delisting, which is like failing a minimum grade and losing access to the public market; delisting can reduce liquidity, visibility and the ability to raise capital.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What Nasdaq issue did Expensify (EXFY) disclose in this 8-K?
Expensify disclosed it had received a Nasdaq deficiency letter after its Class A common stock closed below $1.00 per share for 30 consecutive business days, breaching the exchange’s Minimum Bid Price Requirement under Listing Rule 5450(a)(1).

Has Expensify (EXFY) regained compliance with Nasdaq listing standards?
Yes. Nasdaq notified Expensify that it regained compliance after its Class A common stock closed at or above $1.00 per share for 10 consecutive business days from May 13–27, 2026, and Nasdaq now considers the matter closed.

What is the minimum bid price requirement affecting Expensify (EXFY)?
Nasdaq Listing Rule 5450(a)(1) requires a minimum $1.00 per share closing bid price for continued listing on the Nasdaq Global Select Market. Expensify temporarily fell below this threshold before later regaining compliance by sustaining closes at or above that level.

Over what period did Expensify (EXFY) fail the Nasdaq bid price rule?
Nasdaq’s deficiency letter, dated April 17, 2026, cited that for the prior 30 consecutive business days the closing bid price of Expensify’s Class A common stock had been below $1.00 per share, triggering non-compliance with the minimum bid requirement.

Which Expensify shares are subject to the Nasdaq bid price requirement?
The requirement applies to Expensify’s Class A common stock, par value $0.0001 per share, which is listed on the Nasdaq Global Select Market under the trading symbol EXFY and must maintain at least a $1.00 closing bid price.
0001476840False00014768402026-05-282026-05-28

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): May 28, 2026
Expensify, Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware001-4104327-0239450
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
88 Kearny St, Ste 1600
San Francisco, California 94108
(Address of Principal Executive Offices) (Zip Code)
(971) 365-3939
(Registrant’s telephone number, including area code)
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which registered
Class A Common Stock, par value $0.0001 per shareEXFYThe Nasdaq Stock Market LLC
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 8.01 Other Events.

On April 17, 2026, Expensify, Inc. (the “Company”) received a deficiency letter from the Nasdaq Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, for the last 30 consecutive business days, the closing bid price for the Company’s Class A common stock, par value $0.0001 (the “Class A common stock”), had been below the minimum $1.00 per share required for continued listing on The Nasdaq Global Select Market pursuant to Nasdaq Listing Rule 5450(a)(1) (the “Minimum Bid Price Requirement”).

On May 28, 2026, Nasdaq notified the Company that the Staff had determined that for the last 10 consecutive business days, from May 13, 2026 to May 27, 2026, the closing bid price of the Company’s Class A common stock had been at $1.00 per share or greater, that as a result, the Company has regained compliance with the Minimum Bid Price Requirement, and that Nasdaq considers this matter closed.




SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Expensify, Inc.
By:/s/ Ryan Schaffer
Name:Ryan Schaffer
Title:Chief Financial Officer
Date: May 29, 2026

Source: View Original Filing on SEC EDGAR

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