Short answer
Expensify, Inc. (EXFY) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $35M (down 1.0% year over year) with net income of −$2M.
Q3 2025 key financials · XBRL
- Revenue
- $35M
- −1.0% YoY · −2.0% QoQ
- Net income
- −$2M
- −5.3% YoY · +73.7% QoQ
- Operating margin
- -6.4%
- Gross margin
- 49.6%
- EPS (diluted)
- −$0.02
- +0.0% YoY · +80.0% QoQ
Source: XBRL data from the Expensify, Inc. (EXFY) Q3 2025 10-Q on SEC EDGAR. USD.
Expensify, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Risk Factors
- New legal risk: Increase in legal fees and net settlement losses in Q3 2025 due to ongoing disputes, raising general and administrative expenses by $0.7 million (8%)
- Most material update: Sales and marketing expenses surged 51% in Q3 2025 driven by F1® The Movie title sponsorship and heightened advertising spend
- Regulatory tax risk: Enactment of H.R.1 in July 2025 changed R&D expensing, bonus depreciation, and raised foreign earnings tax rate from 10.5% to 12.6%
- Operational risk: Shift from Legacy to Updated Card Program alters interchange revenue recognition and increases cashback liabilities affecting near-term margins; Q3 gross margin dropped to 50% from 52%
- Financial risk: Liquidity strong with $61.5 million cash, no debt, $7.5 million letter of credit for Updated Card Program collateral as of September 30, 2025
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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