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Expensify, Inc.

EXFY Technology Software Application

Expensify, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $142.1 million, up 2.06% from fiscal 2024. In the quarter to June 2026, revenue fell 5.31%, EPS grew 60.0% and free cash flow grew 4.91%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

2.42 0.11 −4.35%
Market cap
$230.3M
P/E
0.0×
Fwd P/E
−4.3×
Dividend yield
—
F-score
3/9
Altman Z
1.41
Beneish M
−3.69
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 2.19
Total sells 0.49
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy 1 — — — 1 — — — — — — —
Sell 2 11 — 1 6 2 2 2 — — — —
Insider Ownership 42.87%

Capital & Financial Ratios $m

Market Cap 230.25
Revenue 138.10
Net Income (15.62)
Free Cash Flow 8.23
Net Debt (65.76)
Current Ratio 3.50 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (4.26) (negative: loss-making)
P/S ratio 1.67
P/B ratio 1.72
Past 5Y EPS Growth —
This Y EPS Growth 106.89% (at or above 15%: strong)
Next Y EPS Growth (16.67%) (below 0%: weak)
Next Y revenue growth (4.36%) (below 0%: weak)
Next 5Y EPS Growth 27.42% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.6×, against a ten-year median of 1.6×; over the ten years it ranged from 0.5× in 2026 to 12.1× in 2021.
P/S against its own 10 years 51.13%
10-year low 10-year high
P/B against its own 10 years 43.14%
10-year low 10-year high
EV/Sales against its own 10 years 50.89%
10-year low 10-year high
EV/FCF against its own 10 years 65.47%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 48 49 63 66
Receivables 14 13 13 11
Inventory — — — —
Other 70 63 72 73
137 137 153 154
2023 2024 2025 Q'26
Payables 1 0 0 1
ST’ Debt 23 — — —
Other 34 29 28 34
68 38 46 44

Compound Annual Growth %

10y 5y 3y
Sales — 10.04% (5.71%)
Cash Flow — 21.51% (15.14%)
Earnings — 0.00% 0.00%
Book Value — 56.66% 10.93%

Revenue $m

Mar Jun Sep Dec Year
’26 34 34 — — —
’25 36 36 35 35 142
’24 34 33 35 37 139
’23 40 39 36 35 151
’22 40 43 42 43 169
’21 30 35 37 40 143
’20 — 19 22 26 88
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 0 8 — — —
’25 8 8 2 2 20
’24 3 9 4 7 24
’23 8 0 (5) (1) 2
’22 11 16 (1) 7 33
’21 10 14 10 (29) 5
’20 — (4) (4) 12 8
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) 7 — — —
’25 7 7 1 1 17
’24 1 7 2 6 16
’23 7 (2) (7) (3) (6)
’22 11 16 (2) 6 31
’21 9 12 7 (30) (2)
’20 — (4) (7) 11 3
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.02) (0.04) — — —
’25 (0.03) (0.10) (0.03) (0.08) (0.23)
’24 (0.04) (0.03) (0.02) (0.01) (0.12)
’23 (0.07) (0.14) (0.21) (0.09) (0.51)
’22 (0.09) (0.10) (0.10) (0.04) (0.33)
’21 0.20 0.16 (0.18) (0.82) (0.36)
’20 — 0.00 (0.25) 0.03 (0.06)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — 32.85 8.08 1.52 1.24 1.33

Analyst estimates 2026–2028

Powerpack
High — — — — — 51.06 44.55 11.65 4.13 4.00
People
People Employees — — — — 133 144 138 133 115 117
Revenue/emp, $m — — — 0.00 0.66 0.99 1.23 1.13 1.21 1.21
Income, $m
Income, $m Revenue — — — 80 88 143 169 151 139 142
Gross margin, % — — — 60.25 63.20 62.41 63.03 55.61 53.86 50.34
EBT — — — (2) 3 (14) (21) (38) (2) (16)
EBT margin, % — — — (1.88) 3.35 (9.61) (12.18) (25.53) (1.72) (11.47)
Net income — 0 — 1 (2) (14) (27) (41) (10) (21)
Depreciation — — — 4 5 6 6 6 7 9
Per share, $
Per share, $ Revenue — — — 3.10 3.21 3.76 2.10 1.83 1.59 1.54
Earnings — — — 0.05 (0.06) (0.36) (0.33) (0.51) (0.12) (0.23)
Cash flow — — — 0.48 0.28 0.14 0.41 0.02 0.27 0.22
Capex — — — (0.19) (0.16) (0.20) (0.03) (0.09) (0.09) (0.04)
Free cash flow — — — 0.29 0.12 (0.06) 0.38 (0.07) 0.19 0.18
Book value — — — (0.13) 0.51 2.01 1.20 1.22 1.47 1.44
Shares, m — — — 26 27 38 81 82 87 92
Valuation, ×
Valuation, × P/E — — — 122.71 122.71 0.00 0.00 0.00 0.00 0.00
P/S — — — 11.05 11.05 11.72 4.09 1.34 2.10 0.98
P/B — — — 0.00 0.00 21.85 7.13 2.01 2.28 1.05
EV/Sales — — — 11.04 11.04 11.50 3.87 1.41 2.17 0.95
EV/FCF — — — 37.38 37.38 (772.06) 21.40 (37.11) 20.32 8.27
Cash, $m
Cash, $m Operating cash flow — — — 12 8 5 33 2 24 20
Capex — — — (5) (4) (8) (2) (7) (8) (4)
Free cash flow — — — 8 3 (2) 31 (6) 16 17
Balance, $m
Balance, $m Working capital — — — 6 24 104 127 69 99 107
Total debt — — — 39 48 68 67 23 — —
Net debt — — — 29 13 (31) (37) (25) (49) (63)
Shareholders’ equity — — — (3) 14 77 97 101 128 133
Returns, %
Returns, % ROA — — — 0.00 (2.08) (10.01) (13.73) (21.42) (5.74) (11.89)
ROIC — — — 2.99 12.91 (13.98) (15.75) (27.30) (0.64) (16.17)
ROE — — — 0.00 4.30 (59.49) (31.07) (41.88) (8.78) (16.39)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Expensify, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ALIT Alight, Inc. $248.4M — (loss-making) — (loss-making) −3.22% (below 0%: shrinking) n/m −17.24% (below 0%: shrinking) 27.79% (7.83%) Compare
XPER Xperi Inc. $243.9M — (loss-making) — (loss-making) +8.08% (above 0%: growing) n/m +42.92% (above 0%: growing) 68.50% 2.54% Compare
IMMR Immersion Corporation $237.1M 19.9× 24.9× +0.81% (above 0%: growing) n/m +27.93% (above 0%: growing) 20.51% (6.79%) Compare
BLND Blend Labs, Inc. $236.5M — (loss-making) — (loss-making) +6.98% (above 0%: growing) n/m +170.31% (above 0%: growing) 73.54% (4.66%) Compare
EXFY Expensify, Inc. $230.3M — (loss-making) — (loss-making) −5.31% (below 0%: shrinking) n/m +4.91% (above 0%: growing) 48.22% (8.63%)
SMRT SmartRent, Inc. $228.0M — (loss-making) — (loss-making) +4.01% (above 0%: growing) n/m +79.52% (above 0%: growing) 40.71% (16.22%) Compare
SVCO Silvaco Group, Inc. $223.0M — (loss-making) — (loss-making) +47.79% (above 0%: growing) n/m +64.65% (above 0%: growing) 85.15% (22.46%) Compare
KLTR Kaltura, Inc. $221.2M — (loss-making) — (loss-making) +5.47% (above 0%: growing) n/m −206.36% (below 0%: shrinking) 73.65% (1.65%) Compare
DHX DHI Group, Inc. $216.7M 162× 19.1× −2.14% (below 0%: shrinking) n/m −7.29% (below 0%: shrinking) 79.90% 12.16% Compare
Median of peers $232.3M — — +4.74% — +35.43% 71.02% (5.72%)

All 237 Software Application stocks →

Expensify, Inc. (EXFY) key facts

  • Strength: Expensify, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $142.1 million, up 2.06% from fiscal 2024.
  • Expensify, Inc. (EXFY) is a Software Application company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, EXFY traded at $2.42, a market capitalization of $230.3 million.
  • Return on equity was −16.4% and debt-to-equity 0.00.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is 1.41 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Expensify, Inc. (EXFY) Latest News

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stockrow.com/EXFY · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com