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Expensify, Inc. (EXFY) is a cloud-based software company that specializes in expense management solutions for small and medium-sized businesses (SMBs). The company provides a platform that simplifies expense reporting, receipt tracking, and financial integrations, helping businesses streamline their financial operations. Expensify generates revenue primarily through subscription fees and offers additional features like a cashback rewards program tied to its Expensify Card.
- Expense Management Platform - Offers a cloud-based platform with tools for receipt scanning, expense categorization, and integration with accounting software, enabling businesses to manage expenses efficiently.
- Subscription Services - Provides subscription-based access to the platform, with pricing determined by the number of active members and service levels, available through month-to-month or annual contracts.
- Expensify Card - Includes a cashback rewards program based on transaction volume and subscription tier, incentivizing usage while integrating seamlessly with the expense management platform.
- Customer Support Services - Delivers ongoing customer support as part of its performance obligations, ensuring users can maximize the platform's features and functionality.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Anuradha Muralidharan ExecutiveBoard | Chief Operating Officer (COO) | Anuradha Muralidharan is the Chief Operating Officer (COO) and a Director at Expensify, serving since January 2021. Previously, she served as Director of Product Operations from January 2018 to January 2021 and as Head of Payment Operations from August 2015 to January 2018. With over 7.5 years at Expensify and a strong background in payments from prior roles at Citibank, Marqeta Inc., and Oracle, she has played a key role in driving operational efficiency and strategic growth. | ||
Daniel Vidal ExecutiveBoard | Chief Strategy Officer | Daniel Vidal is the Chief Strategy Officer at Expensify since May 2021 and has been a board member since the company’s IPO. He previously served as Director of Corporate Development & Strategy (Feb 2019 - May 2021) and Head of Business Development (Aug 2013 - Feb 2019). | View Report → | |
David Barrett ExecutiveBoard | Chief Executive Officer | David Barrett is the Chief Executive Officer and Director of Expensify, Inc. since 2009; he founded the company and has provided strategic leadership and technological expertise. | View Report → | |
Jason Mills ExecutiveBoard | Chief Product Officer | Jason Mills is the Chief Product Officer at Expensify since May 2021, having previously served as the Director of Product and Customers from January 2013 to May 2021. He has been a key executive driving product strategy and innovation at the company and has also served as a Director on the board since Expensify's IPO. | ||
Ryan Schaffer ExecutiveBoard | Chief Financial Officer | Ryan Schaffer has been serving as the Chief Financial Officer at Expensify since 2017, and he has led board meetings since 2019. He previously held the role of Director of Marketing and Strategy from 2013 to 2017. | ||
Ellen Pao Board | Director | CEO of Project Include | Ellen Pao has served as a board director at Expensify since its IPO, and she is widely recognized for her commitment to diversity and inclusion. She has also led Project Include as CEO and served as interim CEO at Reddit, showcasing her extensive leadership experience in technology and advocacy. | |
Timothy Christen Board | Director | Chairman of the Audit Committee, Mayville Engineering Company since June 2016; Director, CPA.com since February 2018; Trustee, Financial Accounting Foundation since January 2021 | Timothy Christen serves as a Director at Expensify since the effectiveness of its IPO registration statement. He has an extensive background in accounting and corporate governance, having held leadership roles such as Chairman and CEO at Baker Tilly US, LLP, and serving on various boards. | |
Ying (Vivian) Liu Board | Director | COO and CFO at ContextLogic, Inc. (Wish) | Ying (Vivian) Liu serves as a Director on the board of Expensify, Inc. since its IPO. She has an extensive background in finance, having served as COO and CFO at ContextLogic, Inc. (Wish) since November 2021 and held senior financial roles at Shutterfly, Lexmark, Huawei, and Cisco. |
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Despite launching new products like Expensify Travel and seeing a 62% year-over-year growth in interchange revenue to $17.2 million from the Expensify Card , your average paid members remained flat at 687,000 , and revenue growth was only 5% year-over-year ; what strategies do you have in place to accelerate user growth and address this stagnation?
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You've discussed significant investments in AI capabilities, including replacing human tasks with AI for SmartScan, resulting in faster and more accurate processing, and for Concierge, leading to 80% fewer human interventions ; can you provide specifics on how these AI initiatives will tangibly impact revenue growth and when you expect these benefits to materialize?
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With the sponsorship of Apple's F1 movie releasing in the summer of 2025 , and given that the marketing expenses for this have already impacted free cash flow but not yet been recognized in operating expenses , how do you anticipate this will affect your operating expenses and profitability when these expenses are eventually recorded?
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While the Expensify Card's interchange revenue grew by 54% to $17.2 million in fiscal year 2024 , your paid members remained relatively flat ; how sustainable is the card's growth without corresponding growth in your user base, and what are you doing to drive wider adoption among existing and new users?
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After paying down $22.7 million in debt and becoming debt-free , and acknowledging an internal debate about capital allocation priorities , can you elaborate on your plans for capital allocation between investments in growth initiatives, potential share buybacks, or other uses of cash?
Recent press releases and 8-K filings for EXFY.
- Revenue reached $36.1MM in Q1 2025 (8% y/y increase) with a net loss of $(3.2MM), supported by operating cash flow of $4.8MM and free cash flow of $9.1MM.
- The business reported a 43% y/y increase in Expensify Card interchange (reaching $5.1MM) and a 166% q/q surge in travel bookings, showcasing robust platform activity.
- Updated FY 2025 guidance raised full-year free cash flow expectations to $17.0MM - $21.0MM.
- Highlighted strategic initiatives, including a major F1 event sponsorship to boost global exposure.