Expensify's Q1 2022 saw revenue increase by 36% year-over-year to $40.4 million. The company generated positive operating cash flows of $11.2 million, with a net loss of $7.4 million driven by stock-based compensation expenses. The free plan grew significantly, and Expensify Card interchange increased by 150% year-over-year.
Revenue increased by 36% year-over-year to $40.4 million.
Free Plan membership grew 183% quarter-over-quarter to over 9,000 customers.
Positive operating cash flows of $11.2 million were generated.
Expensify Card interchange increased by 150% from the same period last year.
Expensify reaffirms its long-term guidance of 25-35% revenue growth over a multi-year period. Stock-based compensation is estimated for the remaining quarters of the fiscal year.
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