---
schema_version: "secwatch.filing_event.v1"
accession: "0001476840-24-000068"
form_type: "8-K"
ticker: "EXFY"
cik: "0001476840"
company_name: "Expensify, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T05:30:33.352044+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 16% to $33.5M; free cash flow improves to $5.2M

## Summary
- 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.

## SEC filing metadata
- accession: 0001476840-24-000068
- form_type: 8-K
- ticker: EXFY
- cik: 0001476840
- company_name: Expensify, Inc.
- filed_at: 2024-05-09T23:59:59+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/1476840/000147684024000068/0001476840-24-000068-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1476840/000147684024000068/exfy-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001476840-24-000068
- JSON: https://secwatch.observer/filing/0001476840-24-000068.json
- Plain text: https://secwatch.observer/filing/0001476840-24-000068.txt

## Key facts
- Earnings Releases
  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
  source text: 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,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1476840/000147684024000068/0001476840-24-000068-index.htm

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