Slide 1: Q1 2025 Earnings
Q1 2025 Earnings May 8th, 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: Q1 25 Financials
Expensify Q125 Financials
Slide 4: Q1 2025 Revenue, Average Paid Members, Total Interchange
Q1 2025 Revenue Average Paid Members Total Interchange $36.1MM 657,000 $5.1MM
Slide 5: Q1 2025 Cash Flow, Net Loss and Adj. EBITDA
Q1 2025 1 Operating Cash Flow Free Cash Flow Includes timing of customer funds) Excludes timing of customer funds) $4.8MM $9.1MM 2 3 Net Loss Non-GAAP Net Income Adj. EBITDA $(3.2MM) $4.8MM $8.4MM 1 We define Free cash flow as net cash (used in) provided by operating activities excluding changes i
Slide 6: Free Cash Flow
Free Cash Flow 1 2 ● Q1 FCF was $9.1MM, a 75% increase y/y and an increase of 45% q/q . ● With Q4 Results, we initiated FY 2025 FCF guidance of $16.0MM $20.0MM ○ We are increasing our FY 2025 FCF guidance to $17.0MM $21.0MM . 3 1 We define Free cash flow as net cash (used in) provided by operat
Slide 7: Monthly Paid Members
Q1 2025 Monthly Paid Members April Paid Members 655,000 Denotes April 2025 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 Business Highlights
Expensify QI Business Highlights
Slide 9: Q1 Business Highlights
Q1 Business Highlights: ● The Expensify Card ○ Total Interchange derived from the Expensify Card grew to $5.1MM, an increase of 43% y/y. ● Expensify Travel ○ Expensify Travel continues to grow quickly. Travel saw a 166% q/q increase in quarterly travel bookings in Q1. ● Spanish Support ○ Full suppor
Slide 10: Simplified pricing for Collect
Simplified pricing for Collect: ● Legacy: $520 per active member, per month ○ 50% discount for annual commitment ○ 50% discount for Expensify Card adoption ○ No cost if there's no activity ● New Customers: $5 per any member, per month ○ No annual commitment or card required ○ But billed whether or n
Slide 11: Concierge AI Highlights
Expensify Concierge AI Highlights
Slide 12: Conversational corrections
Conversational corrections Tap, pick, answer, or describe how to fix anything. ED ISH FIN
Slide 13: Prohibited expenses
Prohibited expenses Detect alcohol, gambling, tobacco, and more from deep receipt analysis IED EN D
Slide 14: Suspicious travel bookings
Suspicious travel bookings ED Real-time risk scoring analysis of fraudulent travel bookings ELL ANC C
Slide 15: Next up: Virtual CFO
Next up: Virtual CFO ● Workflow suggestions ○ "I saw you manually cut 84 checks last month to 15 employees. Can I help you set up free online reimbursement? It'd save you about 4.4 hours/mo, and get your employees paid next day." ● Financial analysis on demand ○ Who are my top spenders, and who spen
Slide 16: F1 activity is heating up
Expensify Fl activity is heating up
Slide 17: Don Toliver - Lose My Mind (feat. Doja Cat) Music Video
Don Toliver - Lose My Mind (feat. Doja Cat) Music Video
Slide 18: Damson Idris at the Met Gala on Monday
Damson Idris at the Met Gala on Monday
Slide 19: Users are noticing...
Expensify Users are noticing...
Slide 20: Real customer feedback
Real customer feedback Customers are experiencing the chat-first advantage!
Slide 21: Slide 21
Slide 22: Expensify
Expensify
Slide 23: Appendix
Appendix
Slide 24: 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, 2025 March 31, 2024 (unaudited, in thousands) (unaudited, in thousands) Net loss $ 3,169 $ 3,781 Add: Stock-based compensation expense 7,990 7,524 1 Non-GAAP Net Income $ 4,821 $ 3,743 1 We defin
Slide 25: GAAP to Non-GAAP Reconciliation: Adjusted EBITDA
GAAP to Non-GAAP Reconciliation: Adjusted EBITDA Three months ended Three months ended March 31, 2025 March 31, 2024 (unaudited, in thousands) (unaudited, in thousands) Net loss $ 3,169 $ 3,781 Provision for income taxes 2,006 1,034 Other (income) expenses, net 324 954 Depreciation and amortiz
Slide 26: GAAP to Non-GAAP Reconciliation: Free Cash Flow
GAAP to Non-GAAP Reconciliation: Free Cash Flow Three months ended Three months ended Three months ended March 31, 2025 December 31, 2024 March 31, 2024 (unaudited, in thousands) (unaudited, in thousands) (unaudited, in thousands) Net cash provided by operating activities $ 4,805 $ 7,402 $ 3,471 In
Slide 27: Estimated Stock-Based Compensation - Next 4 Quarters
Estimated Stock-Based Compensation (Millions) - Next 4 Quarters Q2 2025 Q3 2025 Q4 2025 Q1 2026 Low High Low High Low High Low High Cost of revenue, net $ 2.2 $ 3.0 $ 2.1 $ 2.9 $ 2.0 $ 2.8 $ 1.9 $ 2.7 Research and development 1.8 2.4 1.7 2.3 1.6 2.2 1.5 2.1 General and administrative 1.2 1.6 1.1 1.5
Slide 28: Expensify
Expensify