Expensify (NASDAQ:EXFY – Get Free Report) issued its quarterly earnings data on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01, reports. The firm had revenue of $33.02 million during the quarter, compared to analysts’ expectations of $33.87 million. Expensify had a negative net margin of 12.23% and a negative return on equity of 12.30%.
Here are the key takeaways from Expensify’s conference call:
- Q3 revenue was $33 million, with 630,000 average paid members, as management acknowledged continued top-line pressure from the declining Classic customer base.
- Free cash flow rose 170% year over year to $3.3 million, and Expensify raised its 2026 free-cash-flow guidance to $13.5 million–$15.5 million. The company also reported $6.1 million in adjusted EBITDA.
- New Expensify revenue from customers who have never used Classic topped $13 million in ARR, up 30% from Q2 and 212% year over year. Management said the new platform could offset Classic’s decline next year if current trends hold, though the timing remains uncertain.
- Expensify Travel bookings increased 40% year over year to a record quarter, while Card interchange revenue rose 8% to $5.8 million. Executives said travel is helping reduce churn and is making Expensify more competitive for customers seeking combined travel-and-expense tools.
- Expensify expanded its AI integrations, including its inclusion in Anthropic’s Claude for Small Business bundle, and said its agent handles more than 96% of user requests. Management described the partnership as promising but said its eventual effect on customer acquisition and retention is not yet clear.
Expensify Stock Down 8.1%
NASDAQ:EXFY traded down $0.18 during trading hours on Friday, hitting $2.05. 534,224 shares of the company traded hands, compared to its average volume of 390,136. The company has a market cap of $161.83 million, a PE ratio of -11.39 and a beta of 1.72. The firm’s 50-day simple moving average is $2.36 and its 200-day simple moving average is $1.63. Expensify has a one year low of $0.69 and a one year high of $2.81.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on EXFY shares. Wall Street Zen upgraded shares of Expensify from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Expensify in a research note on Monday, September 28th. Citizens Jmp raised Expensify from a “market perform” rating to an “outperform” rating and set a $3.00 price objective for the company in a report on Friday, August 7th. Finally, Citigroup raised Expensify from a “market outperform” rating to an “outperform” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.00.
Check Out Our Latest Analysis on Expensify
Expensify Company Profile
Expensify, Inc develops cloud-based software for expense management and business payments. Its platform is designed to help individuals and organizations capture receipts, create and submit expense reports, manage reimbursements, and automate accounting-related workflows.
The company’s products and services include receipt scanning, expense tracking, corporate cards, bill payment, invoicing, travel-related expense management, and integrations with accounting and enterprise software. Expensify serves businesses of various sizes, as well as self-employed professionals and individuals who need tools for managing work-related spending.
Expensify was founded in 2008 and is headquartered in San Francisco, California.
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