EXFYNasdaqServices-Prepackaged SoftwareFiscal year ends December 31
Expensify, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$2.47+0.05 (+2.07%)
Close on Oct 19, 2026
- Market cap
- $235.74M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
50.3%−12.9 pts over 5 years
Operating margin
-12.7%−19.1 pts over 5 years
Net margin
-15.1%−13.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.1% | -5.7% | +10.0% | – | |
| Gross profit | -4.6% | -12.5% | +5.1% | – | |
| Free cash flow | -15.9% | -14.7% | +31.5% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 4.3% | -16.4% | |
| Return on assets | – | – | -11.9% | |
| Current ratio | – | 1.62 | 3.30 | |
| Debt to equity | – | -1.06 | – | |
| Net debt to EBITDA | – | -1.58× | – | |
| Interest coverage | – | 2.0× | -180.2× | |
| Capex to revenue | – | 2.8% | 0.0% | |
| Diluted shares | – | 27M | 92M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Expensify generated $83.89M from operations and spent $24.30M on capital expenditure, dividends and share buybacks. 19% of that went back into the business.
Generated
$83.89M
Used
$24.30M
Capital expenditure$4.69M19%Dividends$00%Share buybacks$19.61M81%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-15.1%
×Asset turnover0.79×
×Equity multiplier1.38×
=Return on equity, FY2025-16.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -15.1% | 0.79× | 1.38× | -16.4% |
| FY2024 | -7.2% | 0.79× | 1.53× | -8.8% |
| FY2023 | -27.5% | 0.78× | 1.95× | -41.9% |
| FY2022 | -15.9% | 0.86× | 2.26× | -31.1% |
| FY2021 | -9.5% | 1.05× | 5.94× | -59.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$21.39M
- Cash generatingOperating cash flow above zero$20.09M
- Return on assets improvedROA up on the prior year-5.7% → -12.3%
- Earnings backed by cashOperating cash flow above net income$20.09M vs -$21.39M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.60 → 3.30
- No dilutionShare count did not rise87M → 92M
- Gross margin improvedGross margin up on the prior year53.86% → 50.34%
- More efficientAsset turnover rose0.79 → 0.82