{"schema_version":"secwatch.filing_event.v1","accession":"0001476840-24-000013","form_type":"8-K","ticker":"EXFY","cik":"0001476840","company_name":"Expensify, Inc.","filed_at":"2024-02-22T23:59:59+00:00","discovered_at":"2026-05-14T18:03:24.282746+00:00","generated_at":"2026-06-05T19:05:10.259152+00:00","sec_items":["1.01","2.02","2.03","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Expensify FY2023 revenue falls 11% to $150.7M, net loss widens to $41.7M; amends credit facility","bullets":["Revenue $150.7M (down 11% YoY); Q4 revenue $35.2M (down 19% YoY).","FY net loss $41.7M (vs $27.0M prior year); Q4 net loss $7.5M (vs $3.4M prior year).","Adjusted EBITDA $13.2M (FY); Q4 adjusted EBITDA $5.9M, improved 265% QoQ.","Expensify Card interchange grew 63% to $11.1M (FY) and 55% to $3.1M (Q4). Paid members 719k, down 8% YoY.","Amended credit facility extends maturity to Sep 2025, keeps $25M revolver with $15M outstanding."],"urls":{"canonical":"https://secwatch.observer/filing/0001476840-24-000013","json":"https://secwatch.observer/filing/0001476840-24-000013.json","markdown":"https://secwatch.observer/filing/0001476840-24-000013.md","text":"https://secwatch.observer/filing/0001476840-24-000013.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1476840/000147684024000013/0001476840-24-000013-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1476840/000147684024000013/exfy-20240221.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T19:05:10.259152+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3d265ce10d360770cffa603052eb2d868a731cc2","claim":"Expensify, Inc. amended revolving credit of $25.0 million with Canadian Imperial Bank of Commerce at CIBC’s reference rate plus 1.00% maturing September 21, 2025.","evidence_excerpt":"and negative covenants intended to better align with the operations of the Company. The Second Amended and Restated Loan and Security Agreement continues to provide for a $25.0 million revolving credit facility, and interest on borrowings continues to accrue at CIBC’s reference rate plus 1.00% As of February 21, 2024, $15.0 million was outstanding under the","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1476840/000147684024000013/0001476840-24-000013-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"revolving credit"},{"label":"Principal","value":"$25.0 million"},{"label":"Counterparty","value":"Canadian Imperial Bank of Commerce"},{"label":"Rate","value":"CIBC’s reference rate plus 1.00%"},{"label":"Maturity","value":"September 21, 2025"},{"label":"Event","value":"amendment"}],"fact_type":"debt_financing"},{"claim_id":"4ab51027e480a80f78c2b250df911f05ce9c251b","claim":"Expensify, Inc. reported year ended December 31, 2023 results: revenue $150.7 million, net income $(41.7) million.","evidence_excerpt":"Full Year Fiscal 2023 Highlights • Revenue was $150.7 million, a decrease of 11% compared to the prior year. • Generated $1.6 million cash from operating activities. • Free cash flow was $0.6 million. • Net loss was $41.7 million, compared to $27.0 million for the prior year.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1476840/000147684024000013/0001476840-24-000013-index.htm","confidence":0.99,"family_label":"Earnings Releases","details":[{"label":"Period","value":"year ended December 31, 2023"},{"label":"Revenue","value":"$150.7 million"},{"label":"Net income","value":"$(41.7) million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"b4c6efdc4d745447742d00b866263e91be8df98e","claim":"Expensify, Inc. reported quarter ended December 31, 2023 results: revenue $35.2 million, net income $(7.5) million.","evidence_excerpt":"Fourth Quarter 2023 Highlights • Revenue was $35.2 million, a decrease of 19% compared to the same period last year. • Utilized $0.5 million cash in operating activities • Free cash flow was $(3.6) million • Net loss was $7.5 million, compared to $3.4 million for the same period last year.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1476840/000147684024000013/0001476840-24-000013-index.htm","confidence":0.99,"family_label":"Earnings Releases","details":[{"label":"Period","value":"quarter ended December 31, 2023"},{"label":"Revenue","value":"$35.2 million"},{"label":"Net income","value":"$(7.5) million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"2c69b8bc9170e85d152a95f294642de7ee75dcb6","claim":"Expensify, Inc. amended Second Amended and Restated Loan and Security Agreement with Canadian Imperial Bank of Commerce (CIBC) as administrative agent valued at $25.0 million revolving credit facility (effective 2024-02-21).","evidence_excerpt":"On February 21, 2024, Expensify, Inc.(\"Expensify\" or the \"Company\") as borrower, the lenders party thereto and Canadian Imperial Bank of Commerce (\"CIBC\"), as administrative agent, entered into a Second Amended and Restated Loan and Security Agreement (the \"Second Amended and Restated Loan and Security Agreement\").","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1476840/000147684024000013/0001476840-24-000013-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"amendment"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Canadian Imperial Bank of Commerce (CIBC) as administrative agent"},{"label":"Value","value":"$25.0 million revolving credit facility"},{"label":"Effective","value":"2024-02-21"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}