Expensify (NASDAQ:EXFY) Issues Earnings Results, Beats Expectations By $0.01 EPS

Expensify (NASDAQ:EXFY) announced its quarterly earnings data on Thursday. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01, reports. The firm had revenue of $33.02 million during the quarter, compared to analyst estimates of $33.87 million. Expensify had a negative return on equity of 12.30% and a negative net margin of 12.23%.

Here are the key takeaways from Expensify’s conference call:

• Q3 revenue was $33 million, with 630,000 average paid members, as management acknowledged continued top-line pressure from the declining Classic customer base.
• Free cash flow rose 170% year over year to $3.3 million, and Expensify raised its 2026 free-cash-flow guidance to $13.5 million–$15.5 million. The company also reported $6.1 million in adjusted EBITDA.
• New Expensify revenue from customers who have never used Classic topped $13 million in ARR, up 30% from Q2 and 212% year over year. Management said the new platform could offset Classic’s decline next year if current trends hold, though the timing remains uncertain.
• Expensify Travel bookings increased 40% year over year to a record quarter, while Card interchange revenue rose 8% to $5.8 million. Executives said travel is helping reduce churn and is making Expensify more competitive for customers seeking combined travel-and-expense tools.
• Expensify expanded its AI integrations, including its inclusion in Anthropic’s Claude for Small Business bundle, and said its agent handles more than 96% of user requests. Management described the partnership as promising but said its eventual effect on customer acquisition and retention is not yet clear.

Expensify Stock Down 8.1%

Shares of Expensify stock traded down $0.18 during trading on Friday, reaching $2.05. 534,224 shares of the company were exchanged, compared to its average volume of 390,136. The business has a 50-day moving average price of $2.36 and a 200-day moving average price of $1.63. The firm has a market capitalization of $161.83 million, a price-to-earnings ratio of -11.39 and a beta of 1.72. Expensify has a twelve month low of $0.69 and a twelve month high of $2.81.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EXFY. Citizens Jmp raised shares of Expensify from a “market perform” rating to an “outperform” rating and set a $3.00 target price on the stock in a research note on Friday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Expensify in a research note on Monday, September 28th. Citigroup raised shares of Expensify from a “market outperform” rating to an “outperform” rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Expensify from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.00.

About Expensify

Expensify, Inc develops cloud-based software for expense management and business payments. Its platform is designed to help individuals and organizations capture receipts, create and submit expense reports, manage reimbursements, and automate accounting-related workflows.

The company’s products and services include receipt scanning, expense tracking, corporate cards, bill payment, invoicing, travel-related expense management, and integrations with accounting and enterprise software. Expensify serves businesses of various sizes, as well as self-employed professionals and individuals who need tools for managing work-related spending.

Expensify was founded in 2008 and is headquartered in San Francisco, California.