Slide 1: Q2 2025 Earnings
Q2 2025 Earnings August 7th, 2025
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: Q2 2025 Financials
Expensify Q2 2025 Financials
Slide 4: Q2 2025 Revenue, Average Paid Members, Total Interchange
Q2 2025 Revenue Average Paid Members Total Interchange $35.8MM 652,000 $5.3MM
Slide 5: Q2 2025 Cash Flow, Net Loss and Adjusted EBITDA
Q2 2025 1 Operating Cash Flow Free Cash Flow Includes timing of customer funds) Excludes timing of customer funds) $8.9MM $6.3MM 2 3 Net Loss Non-GAAP Net Loss Adj. EBITDA $(8.8)MM $(1.9)MM $(1.4)MM 1 We define Free cash flow as net cash (used in) provided by operating activities excluding changes
Slide 6: Free Cash Flow
Free Cash Flow 1 2 ● Q2 FCF was $6.3MM, a 10% increase from the same period last year . ● With Q1 Results, we updated our FY 2025 FCF guidance to $17.0MM $21.0MM 3 ○ We are increasing our FY 2025 FCF guidance to $19.0MM $23.0MM . 1 We define Free cash flow as net cash (used in) provided by oper
Slide 7: Monthly Paid Members: July Paid Members
Q2 2025 Monthly Paid Members July Paid Members 641,000 Denotes July 2025 and July activity from previous years Note: There can be no assurances that the trends of previous third quarters are representative of future trends.
Slide 8: F1 The Movie
F1 THE MOVIE® 1 ● Expensify was on screen for an estimated total of 35+ minutes . 2 ● We estimate that Expensify was viewed for a combined 1.3 billion minutes . 3 ● We estimate over $100.0MM was spent marketing the movie in which our logo featured heavily. ● The PR/earned media around the movie gene
Slide 9: Expensify dominates brand awareness
Expensify dominates brand awareness ® F1 The Movie has increased awareness of Expensify in our core demographic (ages 1854) by 50%. 1 Unaided Awareness : Ages 1854 1 Unaided awareness is defined as the number of general population respondents that could recall a given brand without any prompts, me
Slide 10: Expensify dominates brand awareness
Expensify dominates brand awareness ® F1 The Movie has increased awareness of Expensify in the next generation of bottom up adopters (ages 1824) by 350%. 1 Unaided Awareness : Ages 1824 1 Unaided awareness is defined as the number of general population respondents that could recall a given brand w
Slide 11: Q2 Business Highlights
Expensify Q2 Business Highlights
Slide 12: Q2 Business Highlights
Q2 Business Highlights ● Global Expansion ○ Global Expansion: Expensify added support for third-party card feeds from 10,000+ banks worldwide and launched Euro-based billing. The Expensify Card beta is expected to be live in the UK and EU in August, with Canada expected in 2026. ● Concierge AI ○ Ext
Slide 13: A Plan to Win
A Plan to Win 1. Rebuild atop a cross platform, realtime stack ○ All core technology elements are complete and in production 2. Migrate all customers from Classic to New Underway) ○ We are actively migrating customers from Classic to New 3. Accelerate with financial AI agent Underway) ○ We are act
Slide 14: Q&A
Slide 15: Expensify
Expensify
Slide 16: Appendix
Appendix
Slide 17: GAAP to Non-GAAP Reconciliation: Non-GAAP Net Income
GAAP to Non-GAAP Reconciliation: Non-GAAP Net Income Three months ended Three months ended June 30, 2025 June 30, 2024 (unaudited, in thousands) (unaudited, in thousands) Net loss $ 8,788 $ 2,764 Add: Stock-based compensation expense 6,927 8,381 1 Non-GAAP Net Loss Income $ 1,861 $ 5,617 1 W
Slide 18: GAAP to Non-GAAP Reconciliation: Adjusted EBITDA
GAAP to Non-GAAP Reconciliation: Adjusted EBITDA Three months ended Three months ended June 30, 2025 June 30, 2024 (unaudited, in thousands) (unaudited, in thousands) Net loss $ 8,788 $ 2,764 Benefit from) provision for 661 2,723 income taxes Other (income) expenses, net 889 260 Depreciatio
Slide 19: GAAP to Non-GAAP Reconciliation: Free Cash Flow
GAAP to Non-GAAP Reconciliation: Free Cash Flow Three months ended Three months ended June 30, 2025 June 30, 2024 (unaudited, in thousands) (unaudited, in thousands) Net cash provided by operating activities $ 8,916 $ 9,317 Increase) decrease in changes in customer assets and liabilities Settlement
Slide 20: Estimated Stock-Based Compensation - Next 4 Quarters
Estimated Stock-Based Compensation (Millions) - Next 4 Quarters Q3 2025 Q4 2025 Q1 2026 Q2 2026 Low High Low High Low High Low High Cost of revenue, net $ 2.4 $ 3.2 $ 2.2 $ 3.0 $ 2.1 $ 2.9 $ 2.1 $ 2.9 Research and development 1.7 2.3 1.6 2.2 1.6 2.2 1.5 2.1 General and administrative 1.0 1.4 1.0 1.4
Slide 21: Expensify
Expensify