PORTLAND, Ore.--(BUSINESS WIRE)--Expensify, Inc. (Nasdaq: EXFY), the financial management super app for expenses and corporate cards, today announced it will participate in the following investor event: Anu Muralidharan, Expensify COO, will participate in a fireside chat at the Citizens JMP Technology Conference on Monday March 4th, 2024 at 1:30 PM Pacific. A live webcast and replay will be available on the Company's investor relations website at investors.expensify.com. About Expensify Expensify is a ...

Investors might want to bet on Expensify, Inc. (EXFY) , as earnings estimates for this company have been showing solid improvement lately. The stock has already gained solid short-term price momentum, and this trend might continue with its still improving earnings outlook.The upward trend in estimate revisions for this company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41043 EXPENSIFY, INC. (Exact name of registrant as specified in its charter) Delaware 27-0239450 (State or other jurisdiction of incorporation o ...

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Financial Data and Key Metrics Changes - For fiscal year 2023, the company reported revenue of $150.7 million, with an average of 732,000 paid members and a net interchange of $11.1 million [3] - In Q4 2023, revenue was $35.2 million, with an average of 719,000 paid members and a net interchange of $3.1 million. The company reported a net loss of $7.5 million and a non-GAAP net income of $3.1 million [4][16] - The company’s operating cash flow for fiscal year 2023 was $1.6 million, with a projected free cash flow of $10 million to $12 million for 2024, significantly higher than the $0.6 million in 2023 [5] Business Line Data and Key Metrics Changes - The side card revenue grew 63% year-over-year to $11.1 million, indicating strong performance in this segment [6] - Customer acquisition and churn rates remained stable, with approximately 43,000 new paid members added in 2023, similar to the previous year, while churn also remained consistent at about 62,000 [8][20] Market Data and Key Metrics Changes - The company noted that 99.9% of U.S. businesses are small businesses, presenting a significant market opportunity that remains largely untapped [13] - The company has seen a 35% increase in enterprise customers utilizing global reimbursement features, reflecting positive market engagement [53] Company Strategy and Development Direction - The company aims to capture a large untapped market, focusing on very small businesses (VSB) and small to medium-sized businesses (SMB) through a viral lead generation strategy [25][40] - The new Expensify platform is designed to integrate chat, payments, and document management, enhancing user experience and engagement [58][70] - The company is focusing on improving SEO to increase visibility and customer acquisition, with significant gains in keyword rankings [52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business fundamentals, stating that while the macro environment has impacted customer expansion, the core business remains healthy [87][91] - The company anticipates that as economic pressures ease, there will be a recovery in its customer base [91] Other Important Information - The company has transitioned to a new card program that is expected to yield a 20% increase in interchange fees, improving revenue recognition [49][19] - Management emphasized the importance of chat functionality as a key driver for future growth, aligning with trends in AI and user interaction [42][70] Q&A Session Summary Question: Is there more cost cutting required to hit the free cash flow target? - Management indicated that no additional cuts are needed as all necessary cost reductions have been implemented, with expected benefits in Q1 [77] Question: What is the status of the migration to the new Expensify? - Management stated that the migration is ongoing and will be completed in batches, with no specific timeline for full completion [79][98] Question: When will the new card program impact revenue? - The impact from the new card program is expected to be seen in Q1 and beyond, as customers transition at their own pace [80] Question: How is the company addressing subscription revenue pressure? - Management noted that while customer acquisition and churn are stable, the overall economic environment has led to some contraction, but they are optimistic about future recovery [106][91] Question: What are the plans for share repurchases? - Management indicated that while share repurchases are a consideration, the focus will initially be on reducing remaining debt [104]

Expensify, Inc. (EXFY) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of a loss of $0.03 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 233.33%. A quarter ago, it was expected that this company would post earnings of $0.03 per share when it actually produced a loss of $0.09, delivering a surprise of -400%.Over the last four quarters, the ...

Exhibit 10.1 SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT This SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this "Agreement") dated as of February 21, 2024 (the "Effective Date") is entered into among EXPENSIFY, INC., a Delaware corporation (in its capacity as borrower representative, "Borrower Representative", and together with each Person party hereto as a borrower from time to time, collectively, "Borrowers ...

PORTLAND, Ore.--(BUSINESS WIRE)--Expensify, Inc. (Nasdaq: EXFY), a payments superapp that helps individuals and businesses around the world simplify the way they manage money across expenses, corporate cards and bills, today announced that the company’s Q4 and full year fiscal 2023 financial results will be released after market close on Thursday, February 22nd, 2024. Expensify will host a call to discuss its Q4 and full year fiscal 2023 results on Thursday, February, 22nd 2024 at 2pm PT / 5pm ET. The link ...

Financial Data and Key Metrics - Revenue for Q3 2023 was $36.5 million, a 14% decrease YoY, driven by a decrease in user activity and economic headwinds [80][81] - Net interchange increased by 16% QoQ and 65% YoY, reaching $3.1 million, with the Expensify card being a significant growth driver [54][50] - Paid members stood at 719,000, with a notable uptick in October, indicating some recovery in subscription growth [54][59] - GAAP net loss was $17 million, while non-GAAP net loss was $6.7 million, and adjusted EBITDA was negative $3.5 million [99] Business Line Data and Key Metrics - The Expensify card continues to grow, with net interchange being a key revenue driver, expected to transition to a new revenue treatment by the end of 2024 [55][57] - The company is focusing on improving the conversion of free trials to paid adoption, which is already best-in-class for SaaS products [64] - The introduction of new features like invoicing, bill pay, and payroll is aimed at increasing customer retention and scaling usage [36] Market Data and Key Metrics - The company is seeing growth in international markets, particularly in the UK, Europe, Canada, and Australia, where tax capabilities are integrated [8] - The small business segment (1-250 employees) remains a key focus, with the majority of end users working at small companies [28][29] - The company is leveraging digital advertising and SEO to capitalize on inbound momentum, especially for the upcoming Expensify 2.0 launch [73] Company Strategy and Industry Competition - The company is transitioning to a subscription-driven, bottom-up acquisition model, which is better suited for the small business market [27][29] - Expensify 2.0 is being developed to engage end users more effectively, with a focus on activating free users sooner and improving the onboarding experience [17][44] - The company is sunsetting its outbound sales program, focusing instead on digital advertising and onboarding specialists to improve ROI [48][152] Management Commentary on Operating Environment and Future Outlook - Management noted a challenging environment for SMB customers due to economic headwinds and high interest rates, which has impacted user activity [58][81] - The company expects to be free cash flow positive in 2024 and beyond, driven by cost reductions and the transition to the new Expensify card program [84][60] - Management is optimistic about the future, citing green shoots in the market and the upcoming launch of Expensify 2.0 as key growth drivers [86][87] Other Important Information - The company has reduced its debt by $36 million, which is expected to save $3.8 million in fiscal year 2024 [103] - Expensify 2.0 is expected to launch soon, with a focus on engaging end users through new viral loops and collaboration features [37][113] - The company is working on improving gross margins by reducing COGS in 2024, although no specific target has been provided [112] Q&A Session Summary Question: What is driving the optimism for "clear skies emerging"? - Management cited the upcoming revenue benefit from the Expensify card and the near-launch of Expensify 2.0 as key reasons for optimism [86][87] Question: What areas will see expense reductions in 2024? - Expense reductions will focus on S&M, G&A, and R&D, with a shift towards more efficient digital advertising and community-driven development [89][108] Question: How is the company addressing the decline in activity-based users? - The company is focusing on increasing subscriptions and improving the conversion of free trials to paid adoption, while also introducing new features to retain customers [91][92] Question: What is left to bring Expensify 2.0 to market? - The company is iteratively launching features at conferences to gather feedback, with the full viral adoption flow expected to launch soon [94][113] Question: How is the competitive environment shifting? - Competitors are starting to introduce paid plans, which is seen as a positive shift for Expensify, as it validates the company's business model [119][132] Question: What is the timeline for the transition to the new Expensify card program? - The transition is expected to start in Q4 2023 and be completed by the end of 2024, with a phased approach to avoid disrupting customers [57][142] Question: How is the company addressing churn? - The company is focusing on retaining customers by improving the onboarding experience and introducing new use cases to increase engagement [167][170] Question: What is the strategy for sunsetting the old Expensify platform? - The company will allow customers to switch between the old and new platforms, gathering feedback to improve the new product before fully sunsetting the old one [151][163]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ___________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number 001-41043 ___________________________________ Expensify, Inc. ______________ ...