Financial Data and Key Metrics Changes - Revenue for Q2 2023 was $38.9 million, with a decrease in average paid members to 742,000 compared to the prior period [41] - Gross interchange increased by 56% year-over-year to $2.7 million [41] - Operating cash flow was negative $0.4 million, while free cash flow was $1.1 million [42] - GAAP net loss was $11.3 million, and non-GAAP net loss was $1 million, with adjusted EBITDA at a positive $2.2 million [43] Business Line Data and Key Metrics Changes - The company is focusing on acquiring new businesses to manage their spend on Expensify, which contributes to growth [14] - Existing businesses are expanding their usage of Expensify for different use cases, which is a significant growth driver [16] - The adoption of the Expensify card is a key feature that generates cash and enhances customer retention [17] Market Data and Key Metrics Changes - The company is experiencing downward pressure on margins due to heavy investments in engineering and sales and marketing [45] - The macroeconomic environment is challenging, with many companies struggling for funding, impacting growth drivers [78] Company Strategy and Development Direction - The long-term growth strategy includes a unique customer acquisition model that allows employees to adopt the product without company permission [10] - The company aims to expand its global payment capabilities to support larger businesses with international entities [22] - Investments are being made in SEO, SEM, and outbound sales to increase qualified leads and improve conversion rates [32][35] Management's Comments on Operating Environment and Future Outlook - Management acknowledges being in a rebuilding phase, transitioning from the old platform to a new one, with expectations for improved margins in the future [46] - The current economic conditions are uncertain, and the company has removed long-term revenue growth guidance until stability is achieved [80][84] - Management is optimistic about the early reception of the new Expensify platform and its potential to drive future growth [51] Other Important Information - The company has become the preferred partner for the California Society of CPAs and the Texas Society of CPAs, enhancing its brand recognition in the accounting channel [27] - A focus on providing dedicated account managers for companies with 10 or more employees aims to improve customer loyalty and retention [35] Q&A Session Summary Question: How do you balance investments in SDRs versus outsourced sales channels? - The onboarding specialists and SDRs work together to increase leads and close them effectively, with ongoing optimization of the onboarding program [52][54] Question: What new opportunities does AI unlock for the company? - The company has been investing in AI technologies to enhance customer interactions and streamline processes, recognizing the shift towards agent-based experiences [60][62] Question: What is the current retention situation? - Retention rates have remained stable, but existing customer expansion has slowed due to the macroeconomic environment [94][98] Question: How is the transition to the new platform progressing? - The transition will be gradual, focusing on promoting specific use cases to existing customers to encourage adoption of the new platform [102][106] Question: What is the logistics of co-branding cards? - Co-branding involves customizing existing card designs without significant cost increases, allowing for quick implementation [109][111]

Q2 2023 Earnings | --- ...

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 June 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. ___________________ ...

Expensify, Inc. (NASDAQ:EXFY) Q1 2023 Results Conference Call May 9, 2023 5:00 PM ET Company Participants Anu Muralidharan - COO Ryan Schaffer - CFO Conference Call Participants Daniel Jester - BMO Mark Schappel - Loop Capital Mauro Molina - Piper Sandler Steven Enders - Citi Ryan Schaffer Welcome to the Q1 2023 Expensify Earnings Call. And today, you have myself, Ryan Schaffer and new Anu Muralidharan. Our CEO, David Barrett, is laser-focused right now on working with the team to get everything ready for E ...

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 March 31, 2023 Expensify, Inc. ___________________________________ OR (Exact name of registrant as specified in its charter) o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ____ ...

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, 2022 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 ...

Expensify, Inc. (NASDAQ:EXFY) Q4 2022 Earnings Conference Call February 23, 2023 5:00 PM ET Company Participants Anuradha Muralidharan - COO & Director Ryan Schaffer - CFO & Director Conference Call Participants Koji Ikeda - Bank of America Merrill Lynch Mauro Molina - Piper Sandler & Co. Daniel Jester - BMO Capital Markets Eric Martinuzzi - Lake Street Capital Markets Ryan Schaffer Hello, everyone. Welcome to the Q4 and Fiscal Year 2022 Expensify Earnings Call. Our CEO, David Barrett, couldn't be here toda ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ ___________________________________ Title of each class Trading Symbol(s) Name of each exchange on which registered Class A Common Stock, par value $0.0001 per share EXFY The Nasdaq Stock Market LLC 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, 2022 OR o TRA ...

Expensify, Inc. (NASDAQ:EXFY) Q3 2022 Earnings Conference Call November 10, 2022 5:00 PM ET Company Participants David Barrett - Founder, President & Chief Executive Officer Anuradha Muralidharan - Chief Operating Officer Ryan Schaffer - Chief Financial Officer Conference Call Participants Koji Ikeda - Bank of America Brent Bracelin - Piper Sandler Daniel Jester - BMO David Barrett Welcome to the Q3 2022 Earnings Call for Expensify. We’re excited here, we have our new Chief Operating Officer, Ryan, Chief Fi ...

Expensify, Inc. (NASDAQ:EXFY) Q2 2022 Earnings Conference Call August 11, 2022 5:00 PM ET Company Participants David Barrett - Founder, President & Chief Executive Officer Anuradha Muralidharan - Chief Operating Officer Ryan Schaffer - Chief Financial Officer Conference Call Participants Daniel Jester - BMO Capital Markets Koji Ikeda - Bank of America Patrick Walravens - JMP Securities David Barrett Well, hello, everyone. Welcome to the Q2 2022 Earnings Call for Expensify. We’re very excited to be here, bro ...