Expensify, Inc.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenue $80.5m $88.1m $142.8m $169.5m $150.7m $139.2m $142.1m
Cost of revenue, net $32.0m $32.4m $53.7m $62.7m $66.9m $64.2m $70.6m
Research and development $4.1m $6.7m $11.0m $13.7m $23.4m $24.6m $20.7m
Total operating expenses $47.2m $50.0m $99.4m $122.1m $116.9m $75.8m $89.5m
Gross margin $48.5m $55.7m $89.1m $106.8m $83.8m $75.0m $71.5m
General and administrative $15.9m $33.4m $60.7m $58.5m $49.2m $38.4m $42.1m
Sales and marketing $27.2m $9.9m $27.7m $49.9m $44.4m $12.8m $26.7m
Loss from operations $1.2m $5.7m ($10.3m) ($15.2m) ($33.1m) ($820k) ($18.0m)
Loss before income taxes ($1.5m) $3.0m ($13.7m) ($20.6m) ($38.5m) ($2.4m) ($16.3m)
Provision for income taxes $2.8m ($4.7m) $174k ($6.4m) ($3.0m) ($7.7m) ($5.1m)
Net loss, basic $0 ($1.7m) ($13.6m) ($27.0m) ($41.5m) ($10.1m) ($21.4m)
Net loss, diluted $0 ($1.7m) ($13.6m) ($27.0m) ($41.5m) ($10.1m) ($21.4m)
Basic (in dollars per share) $0.00 ($0.06) ($0.36) ($0.33) ($0.50) ($0.12) ($0.23)
Diluted (in dollars per share) $0.00 ($0.06) ($0.36) ($0.33) ($0.50) ($0.12) ($0.23)
Other income (expense), net ($1.6m) $1.7m