Expensify, Inc. earnings

Expensify's fiscal 2026 second quarter showed a top line that is still contracting while losses narrowed sharply. Revenue, net was $33.9 million for the quarter, down 5.3% from $35.76 million in the prior-year quarter. Gross profit fell 12.1% to $16.33 million, and gross margin slipped to 48.2% from 51.9%.

Expensify's fiscal 2026 first quarter showed a business still shrinking at the top line while cutting costs hard enough to narrow its losses. Revenue, net fell 6% to $34.0 million for the quarter ended March 31, 2026, from $36.07 million in the prior-year quarter.

Expensify closed fiscal 2025 with a fourth quarter that snapped a year of modest growth. Revenue for the quarter ended December 31, 2025 was $35.2 million, down 5% from $37.0 million in the prior year quarter. Full year revenue was $142.1 million, up 2% from $139.2 million.

Expensify's fiscal 2025 third quarter arrived with mixed top-line trends. Revenue was $35.1 million, down 1.0% from the prior-year quarter. Year-to-date revenue was $106.9 million, up 4.6%. Gross profit was $17.4 million in the quarter, down 4.7%, and gross margin was 49.6%, down 2.0 percentage points.

Expensify's second quarter of fiscal 2025 showed a split picture. Revenue rose 7% to $35.8 million, helped by interchange from the Expensify Card, which grew 31% to $5.3 million. Paid members fell 5% to 652,000. The company served an average of 42,800 companies and over 200 countries and territories.

Expensify started fiscal 2025 with steady top-line growth but weaker gross profit. Revenue rose 7.6% year over year to $36.1 million in the first quarter. Gross profit slipped 3.7% to $18.2 million. Gross margin was 50.6%, down 5.9 percentage points.

Expensify finished fiscal 2024 with a fourth quarter that was stronger than the prior-year quarter on the top line and much stronger on profit. Revenue for the quarter ended December 31, 2024 was $37.0 million, up 5.1% from the prior-year quarter.

Expensify's fiscal 2024 third quarter showed a business still shrinking at the top line and increasingly profitable underneath. Revenue was $35.4 million, down 3% from $36.5 million in the prior-year quarter. Year to date, revenue of $102.2 million was down 11.5% from $115.5 million.

Expensify's fiscal 2024 second quarter showed a business still shrinking at the top line while costs fell faster. Revenue was $33.3 million for the quarter, down 14.4% from $38.9 million in the prior-year quarter. Gross profit fell 13.8% to $18.9 million, but gross margin edged up to 56.9% from 56.5%.

Expensify's first quarter of fiscal 2024 split cleanly in two directions. Reported revenue keeps contracting, yet aggressive cost cuts are pushing the profitability measures the other way. Revenue for the quarter ended March 31, 2024 was $33.5 million, down 16% from $40.1 million in the prior-year quarter.

Expensify ended fiscal 2023 with fourth quarter revenue of $35.2 million, down 19% from the prior-year quarter. Gross profit fell 31.7% to $18.7 million, and gross margin slid to 53.1% from 63.0%.

Expensify's fiscal 2023 third quarter paired a double-digit revenue decline with a much wider loss. Revenue came in at $36.5 million, down 14.1% from the prior-year quarter, and for the first nine months of the fiscal year revenue was $115.5 million, down 8.4%. Gross profit fell 27.5% to $18.8 million.

Expensify's fiscal 2023 second quarter showed a company spending heavily to rebuild its platform while its current subscription business contracted. Revenue was $38.9 million, down 10% from $43.2 million in the prior-year quarter. Year to date, revenue was $79.0 million, down 5% from $83.5 million.

Expensify's quarter ended March 31, 2023 arrived with a flat top line and a founder willing to say so. Revenue was $40.1 million, down 0.7% from $40.4 million in the prior-year quarter. Paid members grew 6% to 747,000, spread across 47,800 companies and over 200 countries and territories.

Expensify closed fiscal 2022 with fourth-quarter revenue of $43.47 million, up 7.7% from the prior-year quarter. Full-year revenue was $169.50 million, up 18.7%. Gross profit rose 33.9% to $27.36 million in the quarter and 19.8% to $106.83 million for the year.

Expensify's fiscal 2022 third quarter revenue rose 13.5% year over year to $42.5 million, and revenue for the nine months ended September 30, 2022 reached $126.0 million, up 23.0%.

Expensify reported $43.16 million in revenue for the second quarter of fiscal 2022, up 22.3% from the prior-year quarter. Year-to-date revenue reached $83.53 million, up 28.5%.

Expensify closed the March quarter with revenue of $40.4 million, up 35.8% from the prior-year quarter. Gross profit rose 18.8% to $26.2 million. Gross margin fell to 65.0% from 74.3%, a decline of 9.3 percentage points.

Expensify closed fiscal 2021 with fourth-quarter revenue of $40.36 million, up 56.8% from the prior-year quarter. Full-year revenue was $142.84 million, up 62.2% from 2020. Gross profit rose 18.8% to $20.44 million in the quarter and 60.2% to $89.14 million for the year, but margins narrowed sharply.

Expensify reported revenue of $37.45 million for the quarter ended September 30, 2021, up 72.6% from $21.69 million in the prior-year quarter. Year-to-date revenue was $102.47 million, up 64.4%.