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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) announced the repurchase of 681,079 shares, approximately 1% of its total common shares, totaling $12.1 million in 2022. This includes $6.1 million from net share settlements of vested equity incentive awards. The new share buyback program, authorized for up to $50 million, aims to enhance shareholder value and mitigate dilution from stock issuances. CEO David Barrett emphasized the company's commitment to generating positive cash flow and returning excess cash to investors.
Expensify (NASDAQ: EXFY) reported that employees purchased 130,291 shares of Class A common stock during Q4 2022, with executives acquiring 37,242 shares. The total value of these shares amounted to $1,239,067, based on a share price of $9.51. In 2022, employee purchases totaled 272,909 shares at an average price of $13.45. CEO David Barrett is fully invested in the company, contributing his entire salary to the Stock Purchase Matching Plan, indicating strong internal confidence in the company’s future.
Expensify (Nasdaq: EXFY) announced the purchase of 599,080 common shares following their Q3 earnings call on November 10, 2022, bringing the total spent on share repurchases to $10 million year-to-date. The company has a share repurchase program approved for up to $50 million, aimed at enhancing shareholder value by offsetting dilution and reducing share count over time. This strategic move reflects confidence in the company's future growth potential and market position.
Expensify, Inc. (Nasdaq: EXFY) announced Q3 2022 results, showing a revenue of $42.5 million, up 13% year-over-year. Despite economic challenges, user growth continued with 761,000 paid members, a 14% increase. The company plans an additional $6 million share repurchase, totaling $10 million for FY22. CFO Ryan Schaffer noted positive cash flow, though net loss increased to $8.2 million, primarily due to stock compensation. Adjusted EBITDA reached $9 million, and interchange revenue surged 115% year-over-year. Expensify is optimistic about upcoming payroll services.
Expensify, a payments superapp, will release its Q3 financial results after market close on November 10, 2022. A live video call to discuss the results will occur at 2pm PT / 5pm ET on the same day, accessible via the company's Investor Relations website.
Post-call, a recording, investor deck, and press release summarizing financial results will be made available. Expensify aims to simplify financial management for over 12 million users with its free features including expense tracking and corporate cards.
Expensify, Inc. (Nasdaq: EXFY) announced that during the 2nd quarter of 2022, employees purchased a total of 67,466 shares via its Stock Purchase and Matching Plan, with executives accounting for 17,101 shares. The total value of the shares purchased reached $1,175,258 for employees and $297,899 for executives at a market price of $17.42 per share.
This move reflects an investment in the company's growth and confidence from its workforce.
Expensify (Nasdaq: EXFY) reported a strong Q2 2022, achieving a record growth of paid members, reaching 754,000, up from 706,000 in Q1. The company generated revenue of $43.2 million, a 22% year-over-year increase, and experienced a 142% rise in interchange from the Expensify Card. Positive operating cash flow was noted at $27.2 million, despite a net loss of $8.0 million, largely due to stock-based compensation. Expensify is enhancing accounting partnerships and plans to host ExpensiCon in May 2023.
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