Expensify Q1 revenue down 1% to $40.1M; free cash flow $10.2M

Expensify, Inc.

2023-Q1 EPS reported -$0.07 revenue$40,101,000

Revenue $40.1M (-1% YoY); net loss $5.9M vs $7.4M loss prior year.
Free cash flow $10.2M, operating cash flow $7.6M; adjusted EBITDA $8.7M.
Paid members 747k (+6% YoY); Expensify Card interchange $2.3M (+85%).
Plans $3.0M share repurchases starting May 10 and $8.0M to reduce debt.
CEO cites lower average activity per customer; card cashback hurts revenue.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Expensify, Inc. reported the quarter ended March 31, 2023 results: revenue $40.1 million, net income Net loss was $5.9 million.

Period: the quarter ended March 31, 2023
Revenue: $40.1 million
Net income: Net loss was $5.9 million
Result: reported results

Exact text from the filing

• Revenue was $40.1 million, a decrease of 1% compared to the same period last year. • Generated $7.6 million cash provided by operating activities and $10.2 million of free cash flow. • Net loss was $5.9 million, compared to $7.4 million for the same period last year.

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Expensify, Inc. filing history →

Source: SEC EDGAR

accession 0001476840-23-000070

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