Expensify (NASDAQ:EXFY) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Expensify (NASDAQ:EXFY) posted its quarterly earnings results on Thursday. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.04), FiscalAI reports. The company had revenue of $33.97 million for the quarter, compared to analyst estimates of $34.25 million. Expensify had a negative return on equity of 15.41% and a negative net margin of 14.68%.

Here are the key takeaways from Expensify’s conference call:

• Revenue was $34 million (down 6% YoY) and average paid members fell 4% to 632,000, indicating continued top-line pressure.
• Paid active members improved to 641,000 in April (above the Q1 average), which management cites as an early sign of a potential growth inflection.
• Profitability and cash generation remain strong — GAAP net loss was $2.3M but non‑GAAP net income was $3.6M, adjusted EBITDA $6.2M, operating cash flow positive and free cash flow $2.5M (about $5M excluding a one‑time $2.6M legal payment); FY26 free cash flow guidance reiterated at $6–9M.
• Management highlighted product and distribution momentum — more than 30 app improvements in Q1, rollout of BYOC (bring‑your‑own‑card), new bank/ERP/travel partnerships, and major AI capabilities planned for June to reduce adoption friction.
• Migration to New Expensify is roughly 60% complete and larger customers report performance/latency issues, so engineering is prioritizing hardening over aggressive migration, which could delay revenue upside.

Expensify Price Performance

EXFY traded down $0.09 during midday trading on Friday, hitting $1.03. 551,370 shares of the company’s stock traded hands, compared to its average volume of 563,350. The company has a market cap of $90.86 million, a PE ratio of -4.46 and a beta of 1.75. The stock’s fifty day simple moving average is $0.91 and its 200-day simple moving average is $1.28. Expensify has a one year low of $0.69 and a one year high of $2.83.

Analyst Upgrades and Downgrades

Several research firms recently commented on EXFY. Weiss Ratings restated a “sell (e+)” rating on shares of Expensify in a report on Friday, May 1st. Wall Street Zen upgraded shares of Expensify from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Expensify presently has a consensus rating of “Reduce” and a consensus target price of $2.50.

Insider Activity at Expensify

In other Expensify news, major shareholder Steven J. Mclaughlin acquired 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were purchased at an average price of $0.97 per share, with a total value of $485,000.00. Following the completion of the transaction, the insider owned 10,439,949 shares in the company, valued at $10,126,750.53. The trade was a 5.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Divo Carlos Eduardo Alvarez sold 30,728 shares of Expensify stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $1.01, for a total transaction of $31,035.28. Following the completion of the transaction, the director directly owned 254,780 shares in the company, valued at approximately $257,327.80. This represents a 10.76% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have purchased 2,263,444 shares of company stock worth $2,132,976. Insiders own 11.65% of the company’s stock.

Hedge Funds Weigh In On Expensify

A number of institutional investors have recently modified their holdings of EXFY. Geode Capital Management LLC raised its position in shares of Expensify by 134.2% in the second quarter. Geode Capital Management LLC now owns 1,326,129 shares of the company’s stock valued at $3,435,000 after purchasing an additional 759,982 shares during the period. Millennium Management LLC raised its position in shares of Expensify by 103.2% in the first quarter. Millennium Management LLC now owns 1,406,476 shares of the company’s stock valued at $4,276,000 after purchasing an additional 714,244 shares during the period. Vanguard Group Inc. raised its position in shares of Expensify by 4.5% in the third quarter. Vanguard Group Inc. now owns 4,543,639 shares of the company’s stock valued at $8,406,000 after purchasing an additional 197,702 shares during the period. Mackenzie Financial Corp bought a new position in shares of Expensify in the fourth quarter valued at approximately $240,000. Finally, Victory Capital Management Inc. raised its position in shares of Expensify by 154.4% in the third quarter. Victory Capital Management Inc. now owns 191,764 shares of the company’s stock valued at $355,000 after purchasing an additional 116,385 shares during the period. Institutional investors own 68.42% of the company’s stock.

Expensify Company Profile

Expensify, traded on NASDAQ under the ticker EXFY, is a software-as-a-service (SaaS) company specializing in automated expense management and reporting. Its flagship platform enables employees to capture receipts via mobile app or email, automatically extract expense details through optical character recognition (OCR) and artificial intelligence, and submit streamlined expense reports. The solution is designed to eliminate manual data entry and reduce approval cycle times, serving a broad range of industries from small businesses to large enterprises.

Founded in 2008 by entrepreneur David Barrett, Expensify has grown from a simple receipt-scanning app into a comprehensive spend management suite.