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Expensify, Inc. (EXFY) is a leading cloud-based expense management platform that aims to simplify and streamline the expense reporting process for businesses of all sizes. By eliminating the traditional hassles associated with managing expenses, Expensify offers a fast and user-friendly solution that allows users to manage their business expenses effortlessly.
Founded with the mission of providing 'expense reports that don't suck!', Expensify enables users to snap a picture of their receipts using its app, which then employs SmartScan technology to read and input all the necessary information. This eliminates the need for manual data entry and significantly reduces the time spent on expense management. Additionally, Expensify can automatically import expenses directly from bank and credit card accounts and generate IRS-guaranteed e-receipts.
Expensify integrates seamlessly with all major enterprise accounting packages, making it a versatile front-end solution for existing accounting systems. Users can export properly categorized reports directly to their ledger and keep track of all receipts associated with expenses for tax purposes. The platform offers free credit card import, robust mobile apps for logging expenses on the go, and powerful administrative tools that ensure compliance and accuracy.
Expensify's features are extensive, including corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay, and travel booking, all within one comprehensive app. Recent achievements include expanding its user base, enhancing its SmartScan technology, and forming strategic partnerships to further enhance its service offerings. The company's continued growth and innovation underscore its commitment to providing efficient and effective expense management solutions.
For investors and stakeholders, Expensify, Inc. represents a dynamic and forward-thinking company that is poised to capitalize on the growing demand for expense management solutions. Its user-friendly approach and robust technology make it a valuable tool for businesses looking to simplify their financial operations and improve productivity.
Expensify (NASDAQ: EXFY) reported Q3 2024 results with revenue of $35.4 million, down 3% year-over-year. The company's paid members decreased 5% to 684,000, though remaining stable for two quarters. Notable improvements include interchange from Expensify Card growing 48% to $4.6 million and free cash flow of $6.7 million. The company increased its FY'24 free cash flow guidance by 27% to $19.0-$20.0 million. The new card program has achieved 94% transition of spend, and Expensify Travel completed its initial beta phase, generating new revenue. The company reported a net loss of $2.2 million, improved from $17.0 million loss in the same period last year.
Expensify (Nasdaq: EXFY) has announced it will release its Q3 2024 financial results after market close on Thursday, November 7th, 2024. The company will host an earnings call the same day at 2pm PT / 5pm ET to discuss the results. The call link will be available on Expensify's Investor Relations website, where investors can also add the event to their calendars. Following the call, the company will provide access to the recording, investor deck, and press release summarizing the financial results.
Expensify (Nasdaq: EXFY) has made significant financial moves, demonstrating improved business health. The company has paid off all its debts, including a $15 million revolving line of credit and a $7.6 million mortgage on its Portland headquarters. Additionally, Expensify repurchased 645,938 shares of its Class A common stock at an average price of $2.34 per share.
CFO Ryan Schaffer highlighted the company's progress, citing positive cash flows for the past two quarters and the completion of a multi-year product revamp. The share repurchase program aims to offset dilution and reduce share count over time. Expensify retains access to a $24 million revolving credit line if needed, positioning itself for future growth and product development.
Expensify (EXFY) reported Q2 2024 results, showing mixed performance. While revenue decreased 14% year-over-year to $33.3 million, the company saw significant improvements in other areas. Interchange from the Expensify Card grew 48% to $4.0 million. Cash from operating activities surged to $9.3 million, with free cash flow reaching $5.7 million.
The company launched several key initiatives, including the new Expensify Card program, with 34% of spend already migrated to new cards. The 'New Expensify' platform went live, expected to generate revenue in Q3. Expensify also introduced its travel management platform and achieved a critical technical milestone with its hybrid app launch.
Despite a 8% decrease in paid members to 684,000, Expensify remains optimistic about future growth, citing its partnership with Apple for product placement in an upcoming major film release in June 2025.
Expensify (Nasdaq: EXFY), a payments superapp for managing expenses, corporate cards, and bills, has announced its Q2 2024 financial results release and earnings call. The results will be disclosed after market close on Thursday, August 8, 2024, followed by an earnings call at 2pm PT / 5pm ET on the same day.
Investors can access the call link on Expensify's Investor Relations website at investors.expensify.com. After the call, a full recording, investor deck, and press release summarizing financial results will be available on the same platform. Interested parties can add the event to their calendars through the website prior to the call.
Expensify, Inc. (Nasdaq: EXFY) introduces unlimited virtual cards through the Expensify Visa® Commercial Card, offering businesses unparalleled flexibility and control over expenses. Customers can set fixed or monthly spend limits for each card, ideal for managing one-time and recurring expenses. The new feature allows for easy categorization and assignment of virtual cards, providing a clear overview of expenses within the Expensify platform.
Expensify announced its Q1 2024 results, highlighting growth in the Expensify Card interchange to $3.5 million. The company reported operating cash flow of $3.5 million and free cash flow of $5.2 million. Despite a 16% decrease in revenue, Expensify posted positive cash flow and profitability figures, along with plans for new revenue streams like Expensify Travel and New Expensify. The company also revealed cost-cutting measures that significantly improved cash flow compared to the previous quarter.
Expensify, Inc. (Nasdaq: EXFY) is set to launch Expensify Travel, a new travel platform created in partnership with Spotnana. The platform will offer extensive booking and management capabilities, real-time support, customizable rules, and the option to assign virtual travel cards to employees. Expensify Travel aims to provide customers with access to global travel inventory, lower fares, better servicing, and industry-leading self-service capabilities for managing flight changes, cancellations, and unused ticket credits. The platform will be integrated into Expensify's new chat-based super app, New Expensify.
Expensify, Inc. (Nasdaq: EXFY) has launched new expense tracking features targeting self-employed professionals globally. The upgraded platform simplifies expense tracking, including receipts, mileage, and manual amounts, in one place. Users can categorize expenses and share them with accountants for tax purposes. CEO David Barrett aims to empower members to control their finances effortlessly. The platform also assists in organizing and coding expenses for tax deductions, providing a seamless tax prep process by collaborating with accountants within the app. Sign up at new.expensify.com to experience the enhanced features.
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