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Sep 30, 2022
Expensify Q3 2022 Earnings Report
Announced Q3 2022 results, demonstrating strong business fundamentals and a plan for additional share repurchases.
Key Takeaways
Expensify reported Q3 2022 results with a revenue of $42.5 million, a 13% increase year-over-year. Despite economic headwinds, the company continues to generate positive cash flow. The company repurchased $4 million in shares in Q3 and plans to repurchase an additional $6 million.
Revenue was $42.5 million, up 13% compared to the same period last year.
Free cash flow was $4.7 million, after removing customer funds.
Net loss was $8.2 million, primarily driven by stock-based compensation expenses of $13.4 million.
Adjusted EBITDA was $9.0 million, with an Adjusted EBITDA margin of 21%.
Forward Guidance
Expensify reaffirmed its long-term guidance of 25-35% revenue growth over a multi-year period, assuming an eventual return to normalcy of the world economy.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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