Expensify (EXFY) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Expensify

NasdaqGS•Technology•Software - Application

$2.38-0.05(-0.02%)Market closed

Market Cap

$223.33M

P/S

1.6x

P/B

1.7x

Expensify, Inc. provides a cloud-based expense management software platform in the United States and internationally. The company offers Expensify, a platform that engages in managing corporate cards, paying bills, generating invoices, collecting payments, and booking travel, as well as track and submit plans for individuals. It serves individuals and corporations, small and midsized businesses, and enterprises. The company was founded in 2008 and is based in San Francisco, California.

How this company scores

WeakMetricSide Score: 37/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Growth (6/25).

Profitability8/25

Growth6/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality8/25

Strengths

Long cash runwayInterest easily coveredConsistent free cash flowNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 1.6x5y range 0.6x – 6.5x

Currently near its 17-quarter median.

P/B · 1.7x5y range 0.6x – 21.1x

Currently near its 19-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -1.8x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $223.33M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $138.10M
Q. Revenue: $33.87M
TTM EBITDA: $-2.07M
TTM Op. Income: $-11.09M
Q. Op. Income: $-2.92M
TTM Net Income: $-15.62M
Q. Net Income: $-3.85M
EPS: $-0.04
Shares Out.: $95.44M

$138.10M in TTM revenue declined 4.3% YoY, reaching $33.87M last quarter. TTM EBITDA of $-2.07M and TTM operating income of $-11.09M show growth is flowing through to the bottom line. However, net income is negative at $15.62M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 4 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 48.2%
EBITDA Margin: -1.7%
Op. Margin: -8.6%
Net Margin: -11.4%

Op. margin of -8.6% is up 20.3% YoY — cost efficiency is improving. Net margin at -11.4% and gross margin of 48.2% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 70% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.6x
P/B Ratio: 1.7x

P/S of 1.6x and P/B of 1.7x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $185.41M
Cash: $65.76M
Long-Term Debt: N/A
Book Value: $134.56M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $8.43M
TTM Free Cash Flow: $14.92M
FCF Margin: 10.8%
FCF / Net Income: -1.0

TTM FCF of $14.92M on $8.43M in operating cash flow. The FCF / Net Income ratio of -1.0x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.