secwatch.observer — SEC 8-K summary
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Issuer:     Expensify, Inc. (EXFY)
CIK:        0001476840
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001476840-24-000068
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1476840/000147684024000068/0001476840-24-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1476840/000147684024000068/exfy-20240509.htm
  HTML page:      https://secwatch.observer/filing/0001476840-24-000068

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