Expensify, Inc. (EXFY) FY2025 10-K Annual Report
Expensify, Inc. (EXFY) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Expensify, Inc. FY2025 10-K Analysis
Business Overview
- • Core business: cloud-based, employee-focused expense management platform simplifying financial workflows for SMBs and enterprises globally
- • New emphasis on expanding platform features beyond expense reports: bill payment, invoicing, and travel booking within one integrated app
Management Discussion & Analysis
- • Revenue $142.1M, up 2% YoY from $139.2M in 2024, driven by increased interchange revenue from updated card program
- • Gross margin 50% vs 54% in 2024, decreased due to higher cost of revenue ($70.6M, +10% YoY) and reduced legacy card program consideration
Risk Factors
- • Regulatory risk from SEC enforcement and reporting compliance requirements impacting disclosure accuracy and timeliness
- • Macroeconomic exposure to demand volatility across platform features affecting revenue and cash flow stability
Expensify, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$142M
▲ +2.1% YoY
Net Income
-$21M
▼ -112.7% YoY
Gross Margin
50.3%
▼ -353bp YoY
Operating Margin
-12.7%
▼ -1209bp YoY
Net Margin
-15.1%
▼ -783bp YoY
ROE
-16.1%
▼ -827bp YoY
Total Assets
$186M
▲ +7.1% YoY
EPS (Diluted)
$-0.23
▼ -91.7% YoY
Operating Cash Flow
$20M
▼ -15.9% YoY
Source: XBRL data from Expensify, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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