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

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

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 Stock Down 7.7%

NASDAQ EXFY traded down $0.09 on Friday, hitting $1.03. The stock had a trading volume of 551,370 shares, compared to its average volume of 563,350. Expensify has a one year low of $0.69 and a one year high of $2.83. The stock has a market cap of $90.86 million, a price-to-earnings ratio of -4.46 and a beta of 1.75. The company’s 50-day moving average is $0.91 and its two-hundred day moving average is $1.28.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Expensify from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Expensify in a research report on Friday, May 1st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $2.50.

Insider Activity

In other news, major shareholder Steven J. Mclaughlin bought 500,000 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average price of $0.97 per share, for a total transaction of $485,000.00. Following the transaction, the insider owned 10,439,949 shares in the company, valued at approximately $10,126,750.53. This trade represents a 5.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Divo Carlos Eduardo Alvarez sold 30,728 shares of the company’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $1.01, for a total transaction of $31,035.28. Following the completion of the transaction, the director owned 254,780 shares of the company’s stock, valued at approximately $257,327.80. This trade represents a 10.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders acquired 2,263,444 shares of company stock valued at $2,132,976. 11.65% of the stock is owned by insiders.

Institutional Trading of Expensify

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Expensify by 7.2% in the 4th quarter. Barclays PLC now owns 134,689 shares of the company’s stock worth $203,000 after acquiring an additional 9,080 shares during the period. XTX Topco Ltd lifted its stake in shares of Expensify by 5.6% in the 4th quarter. XTX Topco Ltd now owns 191,397 shares of the company’s stock worth $289,000 after acquiring an additional 10,150 shares during the period. Prelude Capital Management LLC lifted its stake in shares of Expensify by 68.5% in the 3rd quarter. Prelude Capital Management LLC now owns 36,400 shares of the company’s stock worth $67,000 after acquiring an additional 14,800 shares during the period. Abel Hall LLC acquired a new stake in shares of Expensify in the 4th quarter worth approximately $25,000. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Expensify by 126.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 31,615 shares of the company’s stock worth $48,000 after acquiring an additional 17,634 shares during the period. 68.42% of the stock is owned by institutional investors and hedge funds.

About Expensify

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.