Filing Flows › Expensify (EXFY) › Q3 2025
Expensify (EXFY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Expensify (EXFY) reported revenue of $35.1M for the third quarter 2025 (Q3 2025), -1% from a year earlier and -2% from the quarter before. Operating margin was -6.4%, net loss $2.3M (6.6% of revenue).
Expensify, Q3 2025: revenue $35.1M (-1% year over year), operating margin -6.4%, net loss $2.3M, operating cash flow $4.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $35.1M | -2% | -1% |
| Operating profit | −$2.3M | — | — |
| Net earnings | −$2.3M | — | — |
| Operating cash flow | $4.2M | -53% | +13% |
What changed
Revenue was $35.1M in Q3 2025, down 1% year over year and down 2% from the previous quarter.
Gross margin was 49.6%, down 2.0 points from a year earlier. Operating costs exceeded revenue by $2.3M, an operating margin of -6.4%. Operating expenses grew 9% against a revenue fall of 1%. The fastest-growing cost line was Sales & marketing (+51%). The quarter ended with a net loss of $2.3M, narrower than the previous quarter's $8.8M loss.
Operating cash flow was $4.2M (up 13% year over year). Non-cash charges added back $2.1M of depreciation and amortization and $6.7M of share-based compensation. Working capital and other items used $2.3M.
Questions
What was Expensify's revenue in the third quarter 2025?
Expensify (EXFY) reported revenue of $35.1M for the third quarter 2025 (Q3 2025), -1% from a year earlier and -2% from the quarter before.
Was Expensify profitable in the third quarter 2025?
Operating loss was $2.3M (-6.4% of revenue) and net loss $2.3M.
Source: Expensify 10-Q on SEC EDGAR.