Fact: Expensify, Inc. was founded in 2008 by David Barrett in San Francisco, California (HQ now associated with Portland, OR in some sources). It provides a cloud-based platform for expense management, receipt scanning, corporate cards, bill payment, invoicing, payments collection, and travel booking, serving individuals, small/midsize businesses, and enterprises. The company went public via IPO on November 11, 2021 (ticker EXFY on Nasdaq).
Fact: Key milestones include multiple early VC funding rounds (2009–2015 totaling over $27M) and expansion into AI features and international markets (e.g., Europe card launch in 2026).
Interpretation: The company has pivoted toward an integrated "all-in-one" spend platform with AI automation to differentiate in a competitive SaaS space, though it remains smaller-scale compared to enterprise giants.
Fact: Annual average closing prices have declined sharply post-IPO: 2021 (~$40.71), 2022 (~$17.96), 2023 (~$6.04), 2024 (~$2.06), 2025 (~$2.39), 2026 YTD (~$1.26). All-time high closing price was approximately $48.54 (Nov 2021).
| Period | EXFY Return | S&P 500 Return |
|---|---|---|
| YTD 2026 (as of ~Aug 2026) | ~78.8–82.2% | ~13.1–13.2% |
| 1-Year | ~39.2% | ~22.2% |
| 3-Year | ~53.6% | ~71.4% |
| 5-Year | ~93.2% | ~74.6% |
Interpretation: 2026 YTD outperformance reflects recovery from depressed levels (52-week low ~$0.69), potentially signaling market optimism around new initiatives, though longer-term underperformance vs. benchmarks highlights execution challenges since IPO.
Uncertainty/Limitation: Returns are trailing total returns as reported; exact figures depend on precise end dates. No forward-looking price data or current quotes are included per guidelines. Historical volatility is high due to micro-cap status.
Yahoo Finance Historical Data | Macrotrends Price History
Fact: Trailing twelve months (TTM, ~as of July 31, 2026): Revenue $140M; Net income (loss) to common -$20.56M; Diluted EPS -$0.22; Profit margin -14.68%; ROA (ttm) -6.09%; ROE (ttm) -15.05%. Cash position ~$66.5M; low debt/equity (~4%).
Fact: Annual revenue trend: 2025 $142M; 2024 $139M; 2023 $151M; 2022 $169M; 2021 $143M; 2020 $88M. Recent Q2 2026 revenue reported ~$33.9M (down ~5% YoY in some reports) with net loss improving to ~$3.9M (vs. $8.8M prior year); Q1 2026 revenue $33.97M. Positive operating cash flow and free cash flow in multiple recent quarters. Paid members ~640,000 (slight YoY decline). Interchange revenue from Expensify Card growing.
| Metric | TTM / Recent | Notes |
|---|---|---|
| Revenue (TTM) | $140M | Stable-to-declining annual trend |
| Net Income (TTM) | -$20.56M | Losses narrowing in recent quarters |
| EPS (TTM) | -$0.22 | Recent quarterly beats (e.g., Q2 2026 EPS $0.04 vs. est. $0.02) |
| Free Cash Flow | Positive (e.g., $6.4M in one recent quarter) | Key positive indicator |
Interpretation: Core expense management revenue faces pressure (possibly from competition or macro factors), but card interchange, AI/new platform adoption (New Expensify ARR up >250% YoY), and cost discipline are supporting cash generation and loss reduction.
Uncertainty/Limitation: Exact quarterly YoY comparisons vary slightly across sources; full year 2026 results pending. Data sourced from earnings releases and aggregators—always verify latest SEC filings. Assumptions include standard GAAP reporting.
Yahoo Finance Financials | IR Quarterly Results | Macrotrends Revenue History
Fact: Very limited coverage (typically 2–4 analysts). Consensus ratings range from "Neutral"/"Hold" to "Reduce" depending on the aggregator. Recent notable action: Citizens upgraded to Market Outperform with $3.00 target (Aug 2026). Other price targets vary widely (averages reported between ~$1.12 and $2.50–$2.75; highs/lows e.g. $1.00–$3.00).
| Source/Aggregator | Consensus | Avg. 12-Month PT | # Analysts |
|---|---|---|---|
| MarketBeat | Reduce | $2.50 | 2 |
| Investing.com | Neutral | $1.125 | 2 |
| Yahoo Finance | Mixed (recent upgrade noted) | $1.12 | Limited |
| TipRanks/Others | Varies | $1.13–$2.75 range | 2–4 |
Interpretation: Sparse coverage reflects micro-cap status; recent upgrades may signal improving sentiment tied to product launches and earnings beats, but targets show significant dispersion indicating uncertainty in forecasts.
Uncertainty/Limitation: Ratings and targets change frequently and are based on small samples; not all firms cover EXFY. Data as of early August 2026—check current consensus before use. No "Strong Buy" consensus across major platforms.
Fact: Serves a broad base including SMBs (majority of ~8,900+ reported users), midsize firms, and some enterprises. Publicly referenced or case-study clients include Block (Square), EF Education First, Global Payments, Lyft, Atlassian; smaller examples from case studies: Buffer, Philz Coffee, Roadtrippers, 9Round. Strong focus on accounting/finance teams and SMB compliance needs.
Interpretation: Customer base skews toward smaller organizations valuing ease-of-use and affordability over enterprise complexity; retention and expansion via cards/AI appear key to offsetting any paid-member softness.
Uncertainty/Limitation: Comprehensive customer lists are not fully public; named clients from third-party databases or case studies only—may not represent current active usage. Market share data limited.
Customer Database | Case Studies on Site
Fact: Operates in the competitive expense/spend management and AP automation software market. Direct and adjacent competitors include:
| Competitor | Key Overlaps/Notes |
|---|---|
| Brex | Corporate cards, expense mgmt, bill pay, banking |
| Ramp | Corporate cards + expense automation (often cited as strong alternative) |
| SAP Concur | Enterprise expense/travel management leader |
| Coupa | Broader spend management platform |
| Zoho Expense | Affordable SMB-focused expense tool |
| Navan (fka TripActions) | Travel + expense |
| Airbase, Payhawk, BILL (fka Bill.com), Rippling Spend | AP automation, cards, and integrated finance tools |
Interpretation: Expensify positions itself as simpler/more affordable for SMBs vs. enterprise solutions like Concur, but faces pressure from fintechs (Brex/Ramp) offering cards + automation bundles. Differentiation via chat/AI speed and global card expansion is ongoing.
Uncertainty/Limitation: Competitor lists are subjective and market-defined; no public detailed market share data for EXFY specifically. Landscape evolves with M&A and new entrants.
Brex Competitor Guide | Ramp Alternatives Overview | MarketBeat Peers
Overall Data Limitations & Disclaimers: All information is compiled from publicly available web sources as of approximately August 7, 2026. Financial figures, returns, and ratings are subject to restatement, updates, or revision. No investment advice is provided. Always cross-reference primary sources (SEC filings, company IR, earnings transcripts) and consult professionals. Micro-cap stocks like EXFY carry higher volatility and liquidity risks. Customer/competitor data is partial and interpretive.