Filing Flows › Expensify (EXFY) › Q1 2025
Expensify (EXFY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Expensify (EXFY) reported revenue of $36.1M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -3% from the quarter before. Operating margin was -4.1%, net loss $3.2M (8.8% of revenue).
Expensify, Q1 2025: revenue $36.1M (+8% year over year), operating margin -4.1%, net loss $3.2M, operating cash flow $4.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $36.1M | -3% | +8% |
| Operating profit | −$1.5M | — | — |
| Net earnings | −$3.2M | — | — |
| Operating cash flow | $4.8M | -35% | +38% |
What changed
Revenue was $36.1M in Q1 2025, up 8% year over year and down 3% from the previous quarter.
Gross margin was 50.6%, down 5.9 points from a year earlier. Operating costs exceeded revenue by $1.5M, an operating margin of -4.1%. Operating expenses fell 5% while revenue rose 8%. The quarter ended with a net loss of $3.2M, wider than the previous quarter's $1.3M loss. Non-operating items added $324K, -28% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $4.8M (up 38% year over year). Non-cash charges added back $2.0M of depreciation and amortization and $8.0M of share-based compensation. Working capital and other items used $2.0M.
Questions
What was Expensify's revenue in the first quarter 2025?
Expensify (EXFY) reported revenue of $36.1M for the first quarter 2025 (Q1 2025), +8% from a year earlier and -3% from the quarter before.
Was Expensify profitable in the first quarter 2025?
Operating loss was $1.5M (-4.1% of revenue) and net loss $3.2M.
Source: Expensify 10-Q on SEC EDGAR.