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Earnings analysis · 10-Q

EXFY earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Expensify reported Q1 2026 revenue of $33.97 million, down 6% from Q1 2025, with a wider net loss of $2.34 million or $0.02 EPS, matching expectations but underperforming previous metrics. The company generated positive…

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Expensify reported Q1 2026 revenue of $33.97 million, down 6% from Q1 2025, with a wider net loss of $2.34 million or $0.02 EPS, matching expectations but underperforming previous metrics. The company generated positive cash flow and maintained a healthy cash position of $66.5 million, despite ongoing legal settlements impacting operational cash flow.

Read the original on SEC.gov

From revenue to operating profit

Where each $100 of revenue went in this report.

Of every $100 of revenue Cost of sales $52 Operating expenses $54 Left as operating profit $-6

Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.

Reported figures

Earnings per share
$-0.02

What stood out

  • Revenue Decline Year-over-Year

    Revenue decreased by $2.1 million or 6%, from $36.07 million in Q1 2025 to $33.97 million in Q1 2026.

  • Positive Cash Flow Despite Loss

    Net cash provided by operating activities was $0.12 million, down significantly from $7.86 million in the prior year.

  • Decrease in General and Administrative Expenses

    General and administrative expenses were reduced by $1.71 million, from $10.83 million in Q1 2025 to $9.12 million in Q1 2026.

  • Maintenance of Cash Reserves

    As of March 31, 2026, the company held $66.5 million in cash and cash equivalents with no outstanding indebtedness.

  • Cash from Financing Activities

    Net cash provided by financing activities increased to $6.27 million, up from a net use of $1.84 million in Q1 2025.

  • Narrow Improvement in Net Loss

    Net loss improved from $3.17 million in Q1 2025 to $2.34 million in Q1 2026.

What to watch

  • Legal Settlement Costs

    The company deposited $9.5 million into escrow for a proposed settlement regarding a securities class action that could impact liquidity.

  • Declining Paid Membership

    Paid members declined from 657,000 in Q1 2025 to 632,000 in Q1 2026, a reduction of 25,000 members.

  • Nasdaq Minimum Bid Price Compliance Risk

    Received a deficiency letter from Nasdaq due to share price dropping below $1, necessitating action to avoid delisting.

Management's outlook

Guidance for free cash flow for FY 2026 is set between $6.0 million and $9.0 million.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.