Expensify Q3 revenue falls 14% YoY to $36.5M; net loss widens to $17M

Expensify, Inc.

2023-Q3 EPS reported -$0.42 revenue$115,479,000

Revenue $36.5M, down 14% YoY; paid members 719K, down 6%.
Net loss $17.0M vs $8.2M loss a year ago; adjusted EBITDA -$3.5M.
Interchange from Expensify Card grew 65% to $3.1M; card program manager role to boost revenue.
Post-quarter, repaid $36M term loan in full, cutting projected Q4 interest by $0.9M.
Targeting ~$15M expense reductions in 2024 to achieve positive cash flow.

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