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News Release Details

Expensify Announces Q3 2026 Results

November 5, 2026
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Revenue from New Expensify increased 30% from Q2, and is up 212% y/y.

SAN FRANCISCO--(BUSINESS WIRE)--Nov. 5, 2026-- Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, corporate cards, and travel, today released a letter to shareholders from Founder and CEO David Barrett alongside results for its quarter ended September 30, 2026.

A Message From Our Founder

Another strong quarter, both in financial results, as well as product functionality shipped:

  • Cash flow remains strong. Q3 produced $4.0 million in Operating Cash Flow, up 510% from last year, and $3.3 million in Free Cash Flow, up 170% from last year. Some of this was used to repurchase 722,121 shares of Class A common stock, returning approximately $1.3 million to shareholders. Based on this continued strength we've increased FY 2026 FCF guidance by $1.5 million to $13.5 million - $15.5 million.
  • New Expensify continues to grow and improve. Revenue from New Expensify increased 30% from Q2, and is up 212% y/y. This growth comes in part from major feature launches, such as dozens of new GL and HR integrations, as well as quality-of-life crowd pleasers like enhanced admin roles and bulk workspace management. But much of it comes from paying particular attention to micro-optimizations along the conversion pipeline, which has increased cohort conversion by 67% y/y.
  • Expensify Card continues to expand. We now issue in the UK and 12 EU countries for GBP and EUR bank accounts, with enhanced PIN/biometric controls, one-time/date-bound virtual cards, and more real-time spend controls by currency, max amount, and merchant.
  • Expensify Travel economics continue to improve. Our new consolidated travel billing feature enables customers to in effect finance their travel bookings to receive a single monthly debit from their bank account, resulting in substantially more revenue to Expensify from each travel booking.
  • Explosive adoption of AI features. New MCP connections doubled last month, and are still accelerating. This is strong everywhere, but especially in Claude, in part due Expensify to being selected for the Claude for Small Business bundle. Our custom agent beta has been adopted by thousands of customers, and is able to handle over 96%1 of real world requests received — out of an infinite range of potential requests.

As we outlined last quarter, Expensify Classic is a stable cash-flow engine whose customer base naturally declines over time, while New Expensify is our growth engine. That growth engine is taking on a massive, largely untapped market. As we enter the final stretch of 2026, I'm extremely proud of what we accomplished, and cannot wait to reveal what we've got in store for 2027.

-david

Founder and CEO of Expensify

____________________

1 Represents the portion of individual requests that were completed as requested or rejected with clear, actionable steps for the user to complete the request themselves, based on a random sampling of all requests made between October 26, 2026 and November 1, 2026

Financial

Third Quarter 2026 Highlights

  • Revenue, net was $33.0 million, a decrease of 6% as compared to the same period last year.
  • Generated $4.0 million of cash from operating activities.
  • Free cash flow was $3.3 million.
  • Net loss was $3.3 million, compared to $2.3 million for the same period last year.
  • Non-GAAP net income was $3.1 million.
  • Adjusted EBITDA was $6.1 million.
  • Interchange revenue derived from the Expensify Card grew to $5.8 million, an increase of 8% as compared to the same period last year.
  • See Financial Outlook section for free cash flow guidance for fiscal year ending December 31, 2026.

Business

Third Quarter 2026 Highlights

  • Paid members - Paid members were 630,000, a decrease of 2% as compared to the same period last year.
  • Referral agreement with Visa - Entered into a referral agreement with Visa, under which Visa can refer eligible clients and corporate card programs to Expensify for expense management.
  • Expensify Travel accelerates - Trips booked through Expensify Travel grew 40% year over year and 13% from Q2, with Q3 2026 the highest quarter on record, and launched consolidated travel billing so companies can pay for all business travel on a single invoice.
  • Expensify Card expands to Europe - Launched the Expensify Card across 13 European markets, including the UK.
  • Expanded integrations - Launched native integrations with AI-native ERPs Rillet and DualEntry, a Claude for Small Business connector, and new Workday, HiBob, BambooHR and Certinia integrations.
  • Capital return to shareholders - The Company repurchased 722,121 shares of its Class A common stock, totaling approximately $1.3 million.

Financial Outlook

Expensify's outlook statements are based on current estimates, expectations and assumptions and are not a guarantee of future performance. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Forward-Looking Statements” below. There can be no assurance that the Company will achieve the results expressed by this guidance.

Free Cash Flow

Expensify estimates free cash flow of $13.5 million - $15.5 million for the fiscal year ending December 31, 2026.

The Company does not provide a reconciliation for free cash flow estimates on a forward-looking basis because it is unable, without making unreasonable efforts, to provide a meaningful or reasonably accurate calculation or estimation of net cash provided by operating activities and certain reconciling items on a forward-looking basis, which could be significant to the Company's results.

Stock Based Compensation

An estimate of expected stock-based compensation for the next four fiscal quarters is as follows, which is driven primarily by the pre-IPO grant of RSUs issued to all employees (which vest quarterly over eight years with approximately three years remaining).

Est. stock-based compensation (millions)

 

Q4 2026

 

Q1 2027

 

Q2 2027

 

Q3 2027

 

Low

 

High

 

Low

 

High

 

Low

 

High

 

Low

 

High

Cost of revenue, net

$

2.1

 

$

2.8

 

$

2.1

 

$

2.8

 

$

2.0

 

$

2.7

 

$

1.9

 

$

2.6

Research and development

 

1.7

 

 

2.3

 

 

1.6

 

 

2.2

 

 

1.6

 

 

2.2

 

 

1.6

 

 

2.2

General and administrative

 

1.1

 

 

1.4

 

 

1.0

 

 

1.3

 

 

1.0

 

 

1.3

 

 

1.0

 

 

1.3

Sales and marketing

 

0.9

 

 

1.3

 

 

0.9

 

 

1.3

 

 

0.9

 

 

1.3

 

 

0.9

 

 

1.3

Total

$

5.8

 

$

7.8

 

$

5.6

 

$

7.6

 

$

5.5

 

$

7.5

 

$

5.4

 

$

7.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Availability of Information on Expensify’s Website

Investors and others should note that Expensify routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the Expensify Investor Relations website at https://ir.expensify.com. While not all of the information that the Company posts to its Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media and others interested in Expensify to review the information that it shares on its Investor Relations website.

Conference Call

Expensify will host a video call to discuss the financial results and business highlights at 2:00 p.m. Pacific Time today. An investor presentation and the video call information is available on Expensify’s Investor Relations website at https://ir.expensify.com. A replay of the call will be available on the site for three months.

Non-GAAP Financial Measures

In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), we provide certain non-GAAP financial measures, including adjusted EBITDA, non-GAAP net (loss) income, and free cash flow.

We believe our non-GAAP financial measures are useful in evaluating our business, measuring our performance, identifying trends affecting our business, formulating business plans and making strategic decisions. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our results of operations in the same manner as our management team. These non-GAAP financial measures are presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled metrics or measures presented by other companies. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under GAAP. There are a number of limitations related to the use of non-GAAP financial measures versus comparable financial measures determined under GAAP. For example, other companies in our industry may calculate these non-GAAP financial measures differently or may use other measures to evaluate their performance. All of these limitations could reduce the usefulness of these non-GAAP financial measures as analytical tools. Investors are encouraged to review the related GAAP financial measures and the reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures and to not rely on any single financial measure to evaluate our business. A reconciliation of each non-GAAP financial measure to the most directly comparable financial measure stated in accordance with GAAP is at the end of this press release.

Adjusted EBITDA. We define adjusted EBITDA as net loss excluding provision for income taxes, other income, net, depreciation and amortization, and stock-based compensation expense.

Non-GAAP net income. We define non-GAAP net income as net loss excluding stock-based compensation expense.

Free cash flow. We define free cash flow as net cash provided by (used in) operating activities excluding changes in settlement assets, net and settlement liabilities, reduced by the purchases of property and equipment and other assets and software development costs.

The tables at the end of the Condensed Consolidated Financial Statements provide reconciliations to the most directly comparable GAAP financial measure to each of these non-GAAP financial measures.

Forward-Looking Statements

Forward-looking statements in this press release, or made during the earnings call, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding our strategy, future financial condition, future operations, future cash flow, projected costs, prospects, plans, objectives of management and expected market growth, product developments and their potential impact and our stock-based compensation estimates and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “shall,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “goal,” “ambition,” “objective,” “seeks,” “outlook,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: the impact on inflation on us and our members; our borrowing costs, which have and may continue to increase as a result of increases in interest rates; our expectations regarding our financial performance and future operating performance; our ability to attract and retain members, expand usage of our platform, sell subscriptions to our platform and convert individuals and organizations into paying customers; the timing and success of new features, integrations, capabilities and enhancements by us, or by competitors to their products, or any other changes in the competitive landscape of our market; the amount and timing of operating expenses that we may incur to maintain and expand our business and operations to remain competitive; the sufficiency of our cash, cash equivalents and investments to meet our liquidity needs; our ability to make required payments under and to comply with the various requirements of our current and future indebtedness; our cash flows, the prevailing stock prices, general economic and market conditions and other considerations that could affect the specific timing, price and size of repurchases under our stock repurchase program or our ability to fund any stock repurchases; geopolitical tensions, including the war in Ukraine and the conflict in the Middle East; our ability to effectively manage our exposure to fluctuations in foreign currency exchange rates; the size of our addressable markets, market share and market trends; anticipated trends, developments and challenges in our industry, business and the highly competitive markets in which we operate; any adverse impact on our business operations as a result of using artificial intelligence or other machine learning technologies in our services; our reliance on third parties, including our issuing bank, payment processor and card network, for the Expensify Card program, and our ability to continue to grow adoption of the Expensify Card; our expectations regarding our income tax liabilities and the adequacy of our reserves; our ability to effectively manage our growth and expand our infrastructure and maintain our corporate culture; our ability to identify, recruit and retain skilled personnel, including key members of senior management; the safety, affordability and convenience of our platform and our offerings; our ability to successfully defend litigation brought against us; our ability to successfully identify, manage and integrate any existing and potential acquisitions of businesses, talent, technologies or intellectual property; general economic conditions in either domestic or international markets, including geopolitical uncertainty and instability, and their effects on software spending; our ability to protect against security incidents, technical difficulties, or interruptions to our platform; our ability to maintain, protect and enhance our intellectual property; our ability to meet the Nasdaq continued listing requirements for minimum bid price or other Nasdaq listing requirements and the potential delisting of our common stock; the impact of tariffs and global trade disruptions on us, our customers and our vendors, including the impact on inflation, supply chains and consumer sentiment; and other risks discussed in our filings with the SEC. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements set forth above. We caution you not to place undue reliance on any forward-looking statements, which are made only as of the date of this press release. We do not undertake or assume any obligation to update publicly any of these forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable law. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

About Expensify

Expensify is the easiest way to do your expenses, travel, and corporate cards. Built for businesses of all sizes and trusted by 15 million members worldwide, Expensify is a top-rated app across G2, TrustRadius, Capterra, and more. Learn more at use.expensify.com.

 

As of September 30,

 

As of December 31,

 

2026

 

2025

Assets

 

 

 

Cash and cash equivalents

$

63,747

 

 

$

63,080

 

Accounts receivable, net

 

11,245

 

 

 

12,617

 

Settlement assets, net

 

57,356

 

 

 

45,378

 

Prepaid expenses

 

5,263

 

 

 

5,588

 

Other current assets

 

21,758

 

 

 

26,344

 

Total current assets

 

159,369

 

 

 

153,007

 

Capitalized software, net

 

10,998

 

 

 

13,596

 

Property and equipment, net

 

12,553

 

 

 

13,016

 

Lease right-of-use assets

 

5,325

 

 

 

4,730

 

Deferred tax assets, net

 

467

 

 

 

494

 

Other assets

 

1,601

 

 

 

1,146

 

Total assets

$

190,313

 

 

$

185,989

 

Liabilities and stockholders' equity

 

 

 

Accounts payable

$

928

 

 

$

289

 

Accrued expenses and other liabilities

 

7,380

 

 

 

17,893

 

Lease liabilities, current

 

936

 

 

 

678

 

Settlement liabilities

 

36,144

 

 

 

27,545

 

Total current liabilities

 

45,388

 

 

 

46,405

 

Lease liabilities, non-current

 

5,352

 

 

 

5,061

 

Other liabilities

 

2,112

 

 

 

1,778

 

Total liabilities

 

52,852

 

 

 

53,244

 

Commitments and contingencies

 

 

 

Stockholders' equity:

 

 

 

Preferred stock, par value $0.0001; 10,000,000 shares authorized; no shares issued and outstanding as of September 30, 2026 and December 31, 2025

 

—

 

 

 

—

 

Common stock, par value $0.0001;

Class A common stock; 1,000,000,000 shares authorized; 80,041,088 and 80,767,385 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively;

LT10 common stock; 21,871,197 shares authorized; 4,209,827 shares issued and outstanding as of September 30, 2026 and December 31, 2025;

LT50 common stock; 24,741,868 and 24,967,114 shares authorized as of September 30, 2026 and December 31, 2025, respectively; 8,129,514 and 8,083,690 shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively

 

9

 

 

 

9

 

Additional paid-in capital

 

319,192

 

 

 

304,953

 

Accumulated deficit

 

(181,740

)

 

 

(172,217

)

Total stockholders' equity

 

137,461

 

 

 

132,745

 

Total liabilities and stockholders' equity

$

190,313

 

 

$

185,989

 

 

 

 

 

Expensify, Inc.

Condensed Consolidated Statements of Operations

(unaudited, in thousands, except share and per share data)

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2026

 

2025

 

2026

 

2025

Revenue, net

$

33,021

 

 

$

35,065

 

 

$

100,856

 

 

$

106,903

 

Cost of revenue, net(1)

 

18,089

 

 

 

17,667

 

 

 

53,424

 

 

 

52,686

 

Gross margin

 

14,932

 

 

 

17,398

 

 

 

47,432

 

 

 

54,217

 

Operating expenses:

 

 

 

 

 

 

 

Research and development(1)

 

4,952

 

 

 

4,905

 

 

 

15,199

 

 

 

15,421

 

General and administrative(1)

 

8,302

 

 

 

9,814

 

 

 

27,011

 

 

 

30,054

 

Sales and marketing(1)

 

4,354

 

 

 

4,936

 

 

 

12,791

 

 

 

22,824

 

Total operating expenses

 

17,608

 

 

 

19,655

 

 

 

55,001

 

 

 

68,299

 

Loss from operations

 

(2,676

)

 

 

(2,257

)

 

 

(7,569

)

 

 

(14,082

)

Other income, net

 

367

 

 

 

96

 

 

 

740

 

 

 

1,309

 

Loss before income taxes

 

(2,309

)

 

 

(2,161

)

 

 

(6,829

)

 

 

(12,773

)

Provision for income taxes

 

(1,026

)

 

 

(154

)

 

 

(2,694

)

 

 

(1,499

)

Net loss

$

(3,335

)

 

$

(2,315

)

 

$

(9,523

)

 

$

(14,272

)

Net loss per share:

 

 

 

 

 

 

 

Basic and diluted

$

(0.04

)

 

$

(0.03

)

 

$

(0.10

)

 

$

(0.15

)

Weighted average shares of common stock used to compute net loss per share:

 

 

 

 

 

 

 

Basic and diluted

 

91,529,433

 

 

 

92,559,381

 

 

 

93,555,317

 

 

 

92,114,672

 

 

 

 

 

 

 

 

 

(1) Includes stock-based compensation expense as follows:

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2026

 

2025

 

2026

 

2025

Cost of revenue, net

$

2,370

 

$

2,630

 

$

7,101

 

$

8,439

Research and development

 

1,880

 

 

1,881

 

 

5,800

 

 

6,301

General and administrative

 

1,166

 

 

1,147

 

 

3,593

 

 

3,897

Sales and marketing

 

1,032

 

 

1,005

 

 

3,142

 

 

2,943

Total stock-based compensation expense

$

6,448

 

$

6,663

 

$

19,636

 

$

21,580

 

 

 

 

 

 

 

 

Expensify, Inc.

Condensed Consolidated Statements of Cash Flows

(unaudited, in thousands)

 

Nine Months Ended September 30,

 

2026

 

2025

Cash flows from operating activities:

 

 

 

Net loss

$

(9,523

)

 

$

(14,272

)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

Depreciation and amortization

 

6,943

 

 

 

6,179

 

Reduction of operating lease right-of-use assets

 

446

 

 

 

427

 

Loss on impairment, receivables and sale or disposal of equipment

 

907

 

 

 

448

 

Stock-based compensation expense

 

19,636

 

 

 

21,580

 

Amortization of debt issuance costs

 

112

 

 

 

79

 

Deferred income taxes

 

73

 

 

 

2

 

Changes in assets and liabilities:

 

 

 

Accounts receivable, net

 

629

 

 

 

50

 

Settlement assets, net

 

(4,479

)

 

 

(5,658

)

Prepaid expenses

 

325

 

 

 

7,915

 

Other current assets

 

6,207

 

 

 

(2,564

)

Other assets

 

(267

)

 

 

6

 

Accounts payable

 

640

 

 

 

451

 

Accrued expenses and other liabilities

 

(10,463

)

 

 

(350

)

Operating lease liabilities

 

(483

)

 

 

(435

)

Settlement liabilities

 

1,575

 

 

 

1,318

 

Other liabilities

 

288

 

 

 

(116

)

Net cash provided by operating activities

 

12,566

 

 

 

15,060

 

Cash flows from investing activities:

 

 

 

Purchase of property and equipment and other assets

 

(227

)

 

 

(17

)

Software development costs

 

(3,030

)

 

 

(2,740

)

Net cash used in investing activities

 

(3,257

)

 

 

(2,757

)

Cash flows from financing activities:

 

 

 

Change in customer funds, net

 

5,654

 

 

 

2,827

 

Principal payments of finance leases

 

(100

)

 

 

(104

)

Payments for debt issuance costs

 

(114

)

 

 

(88

)

Proceeds from common stock purchased under the Matching Plan

 

4,210

 

 

 

4,351

 

Proceeds from issuance of common stock upon exercise of stock options

 

66

 

 

 

315

 

Payments for employee taxes withheld from stock-based awards

 

(133

)

 

 

—

 

Repurchase and retirement of common stock

 

(10,477

)

 

 

(6,057

)

Net cash (used in) provided by financing activities

 

(894

)

 

 

1,244

 

Net increase in cash and cash equivalents and restricted cash

$

8,415

 

 

$

13,547

 

Cash and cash equivalents and restricted cash at beginning of period

 

104,624

 

 

 

90,834

 

Cash and cash equivalents and restricted cash at end of period

$

113,039

 

 

$

104,381

 

Noncash investing and financing items:

 

 

 

Stock-based compensation capitalized as software development costs

$

935

 

 

$

1,359

 

Repurchases and retirement of common stock in accounts payable and accrued expenses

$

13

 

 

$

—

 

Purchases of property and equipment and other assets and capitalized software in accounts payable and accrued expenses

$

62

 

 

$

78

 

Fair value of common stock issued to settle liability-classified restricted stock units

$

1,031

 

 

$

792

 

Right-of-use assets acquired with operating lease liabilities

$

1,123

 

 

$

—

 

Reconciliation of cash and cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets:

 

 

 

Cash and cash equivalents

$

63,747

 

 

$

61,453

 

Restricted cash included in other current assets

 

20,163

 

 

 

17,875

 

Restricted cash included in settlement assets, net

 

29,129

 

 

 

25,053

 

Total cash and cash equivalents and restricted cash

$

113,039

 

 

$

104,381

 

 

 

 

 

Expensify, Inc.

Reconciliation of GAAP to Non-GAAP Financial Measures

(unaudited, in thousands, except percentages)

 

Adjusted EBITDA and Adjusted EBITDA Margin

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2026

 

2025

 

2026

 

2025

Net loss

$

(3,335

)

 

$

(2,315

)

 

$

(9,523

)

 

$

(14,272

)

Net loss margin

 

(10

)%

 

 

(7

)%

 

 

(9

)%

 

 

(13

)%

Add:

 

 

 

 

 

 

 

Provision for income taxes

 

1,026

 

 

 

154

 

 

 

2,694

 

 

 

1,499

 

Other income, net

 

(367

)

 

 

(96

)

 

 

(740

)

 

 

(1,309

)

Depreciation and amortization

 

2,304

 

 

 

2,097

 

 

 

6,821

 

 

 

6,059

 

Stock-based compensation expense

 

6,448

 

 

 

6,663

 

 

 

19,636

 

 

 

21,580

 

Adjusted EBITDA

$

6,076

 

 

$

6,503

 

 

$

18,888

 

 

$

13,557

 

Adjusted EBITDA margin

 

18

%

 

 

19

%

 

 

19

%

 

 

13

%

 

 

 

 

 

 

 

 

Non-GAAP Net Income and Non-GAAP Net Income Margin

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2026

 

2025

 

2026

 

2025

Net loss

$

(3,335

)

 

$

(2,315

)

 

$

(9,523

)

 

$

(14,272

)

Net loss margin

 

(10

)%

 

 

(7

)%

 

 

(9

)%

 

 

(13

)%

Add:

 

 

 

 

 

 

 

Stock-based compensation expense

 

6,448

 

 

 

6,663

 

 

 

19,636

 

 

 

21,580

 

Non-GAAP net income

$

3,113

 

 

$

4,348

 

 

$

10,113

 

 

$

7,308

 

Non-GAAP net income margin

 

9

%

 

 

12

%

 

 

10

%

 

 

7

%

 

 

 

 

 

 

 

 

Free Cash Flow and Free Cash Flow Margin

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2026

 

2025

 

2026

 

2025

Net cash provided by (used in) operating activities

$

4,015

 

 

$

(980

)

 

$

12,566

 

 

$

15,060

 

Operating cash flow margin

 

12

%

 

 

(3

)%

 

 

12

%

 

 

14

%

Changes in settlement assets and liabilities:

 

 

 

 

 

 

 

Settlement assets, net

 

1,158

 

 

 

(336

)

 

 

4,479

 

 

 

5,658

 

Settlement liabilities

 

(1,097

)

 

 

3,629

 

 

 

(1,575

)

 

 

(1,318

)

Less:

 

 

 

 

 

 

 

Purchase of property and equipment and other assets

 

(227

)

 

 

—

 

 

 

(227

)

 

 

(17

)

Software development costs

 

(539

)

 

 

(1,085

)

 

 

(3,030

)

 

 

(2,740

)

Free cash flow

$

3,310

 

 

$

1,228

 

 

$

12,213

 

 

$

16,643

 

Free cash flow margin

 

10

%

 

 

4

%

 

 

12

%

 

 

16

%

 

 

 

 

 

 

 

 

 

Investor Relations Contact
Nick Tooker
investors@expensify.com

Press Contact
James Dean
press@expensify.com

Source: Expensify, Inc.