Expensify, Inc. · NASDAQ:EXFY
Expensify — Q1 2026 Earnings Presentation
19 slides from Expensify's earnings presentation, May 7, 2026
Slide 1: Q1 2026 Earnings
Q1 2026 Earnings May 7th, 2026
Slide 2: Disclaimer
Disclaimer All information included in this presentation is unaudited. FORWARDLOOKING STATEMENTS Forward-looking statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1955. These statemen
Slide 3: Q1 2026 Financials
Expensify Q12026 Financials
Slide 4: Q1 2026 Revenue, Paid Members, Interchange
Q1 2026 Revenue Average Paid Members Total Interchange $34.0MM 632,000 $5.5MM
Slide 5: Q1 2026 Cash Flow, Net Loss and Adjusted EBITDA
Q1 2026 Operating Cash Flow Free Cash Flow1 $0.1MM $2.5MM Net Loss Non-GAAP Net Income2 Adj. EBITDA3 $(2.3)MM $3.6MM $6.2MM 1 We define free cash flow as net cash provided by operating activities excluding changes in settlement assets, net and settlement liabilities, reduced by the purchases of prop
Slide 6: Free Cash Flow
Free Cash Flow 1 ● Q1 FCF was $2.5MM2, a decrease of 73% from the same period last year. ○ Q1 had a one time $2.6MM payment related to settling the class action lawsuit. Q1 FCF would have been $5MM absent that one time payment. ● We reiterate our FY26 FCF guidance of $6.0MM $9.0MM3. 1 We define f
Slide 7: Q2 2026 Flash
Q2 2026 Flash Monthly Paid Members April Paid Members 641,000 Denotes April 2026 and April activity from previous years Note: There can be no assurances that the trends of previous second quarters are representative of future trends.
Slide 8: Q1 Highlights
Expensify Ol Highlights
Slide 9: Q1 Business Highlights
Q1 Business Highlights ● BYOC strategy accelerated – Expensify continued expanding its Bring Your Own Card strategy through bank integrations and partnerships with 10,000+ banks. ● New strategic partnerships – Added partnerships with the Institute of Commercial Payments and Kiwibank, and renewed the
Slide 10: Q1 Product Highlights
Q1 Product Highlights ● January updates – Top spender reports, receipt rotation, automatic approval routing, bulk card assignment, bank account sharing, new Expensify Card status labels, and Uber for Business discounts. ● February updates – New Home tab, upgraded Insights, Concierge anywhere, mercha
Slide 11: Summary
Summary ● The Expensify Card continues to grow: Interchange revenue derived from the Expensify Card grew to $5.5MM, an increase of 10% as compared to the same period last year. ● We continue to produce Free Cash Flow1: The company produced $0.1MM of operating cash flow and $2.5MM2 in free cash flow
Slide 12: Q&A
Q&A
Slide 13: Expensify
Expensify
Slide 14: Appendix
Expensify Appendix
Slide 15: GAAP to Non-GAAP Reconciliation: Non-GAAP Net Income
GAAP to Non-GAAP Reconciliation: Non-GAAP Net Income Three months ended Three months ended March 31, 2026 March 31, 2025 (unaudited, in thousands) (unaudited, in thousands) Net loss $ 2,337 $ 3,169 Add: Stock-based compensation expense 5,977 7,990 Non-GAAP net income1 $ 3,640 $ 4,821 1 We define
Slide 16: GAAP to Non-GAAP Reconciliation: Adjusted EBITDA
GAAP to Non-GAAP Reconciliation: Adjusted EBITDA Three months ended Three months ended March 31, 2026 March 31, 2025 (unaudited, in thousands) (unaudited, in thousands) Net loss $ 2,337 $ 3,169 Provision for income taxes 536 2,006 Other income, net 171 324 Depreciation and amortization 2,215
Slide 17: GAAP to Non-GAAP Reconciliation: Free Cash Flow
GAAP to Non-GAAP Reconciliation: Free Cash Flow Three months ended Three months ended March 31, 2026 March 31, 2025 (unaudited, in thousands) (unaudited, in thousands) Net cash provided by operating activities $ 118 $ 7,856 Changes in settlement assets and liabilities Settlement assets, net 4,481 5,
Slide 18: Estimated Stock-Based Compensation - Next 4 Quarters
Estimated Stock-Based Compensation (Millions) - Next 4 Quarters Q2 2026 Q3 2026 Q4 2026 Q1 2027 Low High Low High Low High Low High Cost of revenue, net $ 1.8 $ 2.6 $ 1.7 $ 2.5 $ 1.7 $ 2.5 $ 1.7 $ 2.5 Research and development 1.5 2.1 1.4 2.0 1.4 2.0 1.3 1.9 General and administrative 0.8 1.2 0.8 1.2
Slide 19: Expensify
Expensify