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Jun 30, 2023
Expensify Q2 2023 Earnings Report
Expensify's Q2 2023 results were announced, revealing a mix of financial outcomes and strategic advancements.
Key Takeaways
Expensify reported a revenue of $38.9 million, a 10% decrease compared to the same period last year. The company experienced a net loss of $11.3 million, and a non-GAAP net loss of $1.0 million. Despite these losses, Expensify saw growth in Expensify Card interchange and a reduction in outstanding debt.
Revenue decreased by 10% year-over-year, reaching $38.9 million.
Net loss amounted to $11.3 million, compared to $8.0 million in the same period last year.
Expensify Card interchange grew by 56% compared to the previous year, reaching $2.7 million.
The company reduced its outstanding debt by $8.2 million and repurchased $3.9 million in common shares.
Forward Guidance
Expensify provided estimates for stock-based compensation for the next four fiscal quarters, with total estimates ranging from $9.2 million to $12.4 million per quarter.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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