secwatch.observer — SEC 8-K summary
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Issuer:     Expensify, Inc. (EXFY)
CIK:        0001476840
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0001476840-24-000013
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 1.01, 2.02, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Expensify FY2023 revenue falls 11% to $150.7M, net loss widens to $41.7M; amends credit facility
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1476840/000147684024000013/0001476840-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1476840/000147684024000013/exfy-20240221.htm
  HTML page:      https://secwatch.observer/filing/0001476840-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer