Quarterly ResultMay 7, 2026, 04:08 PM
Expensify Q1 Revenue $34.0M (-6%); Net Loss $2.3M; FCF $2.5M
AI Summary
Expensify, Inc. announced its financial results for the first quarter ended March 31, 2026, reporting a 6% decrease in net revenue to $34.0 million and a net loss of $2.3 million. Despite the revenue decline, the company achieved positive non-GAAP net income of $3.6 million and generated $2.5 million in free cash flow, which included a one-time $2.6 million payment for a shareholder class action lawsuit. Expensify also highlighted strategic advancements, including expanding distribution partnerships, strengthening its product ecosystem with over 30 improvements, and providing a Free Cash Flow outlook of $6.0 million to $9.0 million for fiscal year 2026.
Key Highlights
- Revenue, net was $34.0 million, a decrease of 6% compared to the same period last year.
- Net loss was $2.3 million, an improvement from $3.2 million last year.
- Non-GAAP net income was $3.6 million and Adjusted EBITDA was $6.2 million.
- Interchange revenue from the Expensify Card grew 10% to $5.5 million.
- Free cash flow was $2.5 million, including a $2.6 million lawsuit settlement payment.
- Paid members decreased 4% year-over-year to 632,000.
- Launched integrations with Campfire ERP, Rillet ERP, and American Airlines; partnered with Xero, ANZ Bank, Kiwibank.
- Provided Free Cash Flow guidance of $6.0 million - $9.0 million for fiscal year ending December 31, 2026.