---
schema_version: "secwatch.filing_event.v1"
accession: "0001476840-23-000070"
form_type: "8-K"
ticker: "EXFY"
cik: "0001476840"
company_name: "Expensify, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:49:22.005111+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001476840-23-000070
- form_type: 8-K
- ticker: EXFY
- cik: 0001476840
- company_name: Expensify, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1476840/000147684023000070/0001476840-23-000070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1476840/000147684023000070/exfy-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001476840-23-000070
- JSON: https://secwatch.observer/filing/0001476840-23-000070.json
- Plain text: https://secwatch.observer/filing/0001476840-23-000070.txt

## Key facts
- Earnings Releases
  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
  source text: • 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1476840/000147684023000070/0001476840-23-000070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.