Expensify Q1 revenue down 16% to $33.5M; free cash flow improves to $5.2M

Expensify, Inc.

2024-Q1 EPS reported -$0.04 revenue$33,535,000

Revenue $33.5M (-16% YoY); net loss $3.8M (improved from $5.9M in Q1 2023).
Adjusted EBITDA $7.1M; non-GAAP net income $3.7M; operating cash flow $3.5M.
Expensify Card interchange grew 57% to $3.5M, with new card program boosting per-transaction revenue.
Paid members fell 8% to 688K; cost cuts improved free cash flow 242% sequentially to $5.2M.
Launched corporate travel service (Expensify Travel) and New Expensify with invoicing and expense splitting.

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, 2024 results: revenue $33.5 million, net income Net loss was $3.8 million. Guidance raised.

Period: the quarter ended March 31, 2024
Revenue: $33.5 million
Net income: Net loss was $3.8 million
Guidance: raised
Result: reported results

Exact text from the filing

wait to show you on the earnings call (or visit exfy.com/roadmap to see it yourself)! -david Founder and CEO of Expensify First Quarter 2024 Highlights Financial: • Revenue was $33.5 million, a decrease of 16% compared to the same period last year. • Generated $3.5 million cash from operating activities. • Free cash flow was $5.2 million. • Net loss was $3.8 million,

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Source: SEC EDGAR

accession 0001476840-24-000068

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