Financial Performance - Revenue for Q3 2024 was $35.4 million, a decrease of 3% year-over-year[8] - Total revenue for the three months ended September 30, 2024, was $35,409 thousand, a decrease of 2.97% from $36,494 thousand for the same period in 2023[28] - Non-GAAP net income for Q3 was $5.4 million[9] - Adjusted EBITDA for Q3 was $9.7 million[9] - Net loss for the three months ended September 30, 2024, was $(2,198) thousand, significantly improved from a net loss of $(17,003) thousand for the same period in 2023[28] - Net loss for the nine months ended September 30, 2024, was $8,743,000, a significant improvement from a loss of $34,252,000 in the same period of 2023[30] - Adjusted EBITDA for the three months ended September 30, 2024, was $9,676,000, compared to a loss of $3,549,000 in the same period of 2023, resulting in an adjusted EBITDA margin of 27%[31] - Non-GAAP net income for the three months ended September 30, 2024, was $5,432,000, with a non-GAAP net income margin of 15%, compared to a loss of $6,736,000 and a margin of -18% in the same period of 2023[32] Cash Flow and Liquidity - Free cash flow guidance for FY 2024 has been raised to $19.0 - $20.0 million, an increase of 27% from previous guidance[4] - Net cash provided by operating activities for the three months ended September 30, 2024, was $3,687,000, an improvement from a cash outflow of $5,106,000 in the same period of 2023[32] - Free cash flow for the three months ended September 30, 2024, was $6,679,000, compared to a negative free cash flow of $7,113,000 in the same period of 2023, resulting in a free cash flow margin of 19%[32] - Cash and cash equivalents as of September 30, 2024, were $39,172 thousand, down from $47,510 thousand as of December 31, 2023[26] - Cash and cash equivalents at the end of the period were $85,254,000, down from $134,608,000 at the end of September 30, 2023[30] - The company experienced a net decrease in cash and cash equivalents of $11,404,000 for the nine months ended September 30, 2024, compared to a decrease of $13,102,000 in the same period of 2023[30] Expenses and Cost Management - Total operating expenses for the three months ended September 30, 2024, were $17,976 thousand, down 46.73% from $33,712 thousand for the same period in 2023[28] - Research and development expenses for the three months ended September 30, 2024, were $5,618 thousand, down from $6,607 thousand for the same period in 2023[28] - Stock-based compensation expense decreased to $23,535,000 for the nine months ended September 30, 2024, from $30,612,000 in the same period of 2023[30] User Engagement and Growth - Interchange derived from the Expensify Card grew to $4.6 million, an increase of 48% compared to the same period last year[1] - Paid members decreased by 5% year-over-year to 684,000[10] - The number of users utilizing Expensify's free features exceeds 12 million, indicating strong user engagement and market presence[25] - New Expensify generated 61% more leads at Suiteworld 2024 compared to the previous year[6] - Expensify Travel began generating new revenue for the first time during Q3[7] Balance Sheet and Financial Position - Total current assets increased slightly to $138,536 thousand as of September 30, 2024, compared to $137,232 thousand as of December 31, 2023[26] - Total liabilities decreased to $56,312 thousand as of September 30, 2024, from $76,040 thousand as of December 31, 2023[27] - Stockholders' equity increased to $119,934 thousand as of September 30, 2024, compared to $100,744 thousand as of December 31, 2023[27]

Group 1 - Expensify, Inc. (EXFY) has recently reached a key level of support, indicated by its 50-day simple moving average crossing above its 200-day simple moving average, known as a "golden cross" [1][2] - A golden cross is a bullish technical chart pattern that suggests a potential breakout, typically involving the 50-day and 200-day moving averages [2] - The successful golden cross event consists of three stages: a price decline bottoming out, the shorter moving average crossing above the longer one, and maintaining upward momentum [3] Group 2 - Shares of EXFY have increased by 18.9% over the past four weeks, and the company holds a 2 (Buy) rating on the Zacks Rank, indicating potential for further gains [4] - The positive earnings outlook for EXFY is supported by one upward revision in earnings estimates over the past 60 days, with no downward revisions, leading to an increase in the Zacks Consensus Estimate [4] - The combination of earnings estimate revisions and the technical breakout suggests that investors should monitor EXFY for potential gains in the near future [4]

Core Insights - Expensify, Inc. (EXFY) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates [1][2] Estimate Revisions - Current-quarter earnings are projected at $0.10 per share, reflecting a year-over-year increase of +211.11%, with a 100% increase in the Zacks Consensus Estimate over the last 30 days due to one upward revision [4] - For the full year, earnings are expected to reach $0.32 per share, indicating a year-over-year change of +3300%, with a 41.67% increase in the consensus estimate over the past month [5] Zacks Rank - Expensify currently holds a Zacks Rank 2 (Buy), indicating promising estimate revisions that suggest potential for significant outperformance compared to the S&P 500 [6] Stock Performance - The stock has risen by 16.8% over the past four weeks due to strong estimate revisions, suggesting further upside potential [7]

Core Viewpoint - Expensify, Inc. (NASDAQ:EXFY) has shown strong financial performance in Q2 2024, with significant EBITDA and EPS beats, leading to a bullish outlook for the stock [1][2][8]. Financial Performance - In Q2 2024, Expensify's non-GAAP adjusted EBITDA increased by 373% year-over-year to $10.2 million, while normalized EPS improved from a loss of $0.01 in Q2 2023 to a profit of $0.06 in Q2 2024 [2]. - The company's Q2 2024 normalized EBITDA and non-GAAP adjusted EPS exceeded Wall Street's consensus forecasts by 60% and 62%, respectively [2]. - Full-year free cash flow guidance for fiscal 2024 was raised by 29% from $12.0 million to $15.5 million, attributed to effective cost management [2]. Revenue Performance - Expensify's revenue for Q2 2024 declined by 14% year-over-year to $33.3 million, missing analysts' expectations by 3% [4]. - Despite the revenue decline, the company noted a marginal sequential contraction of 0.7% quarter-over-quarter, indicating stabilization [4]. - Future revenue growth is anticipated from the launch of the New Expensify superapp and Expensify Travel, expected to generate new revenue streams starting in Q3 2024 [3][4][6]. Growth Drivers - The New Expensify superapp aims to cater to both personal and business financial needs, targeting very small businesses (VSBs) and small-to-medium-sized businesses (SMBs) [5]. - Expensify Travel is positioned as a corporate travel booking and management platform, which is expected to attract new customers who previously found the lack of travel services a dealbreaker [6]. - Analysts project a narrowing of revenue contraction from -14% in Q2 2024 to -4% in Q3 2024, with a return to positive growth of 3% in Q4 2024 [6]. Valuation - Expensify's stock is currently trading at a Price-to-Earnings Growth (PEG) multiple of 0.61, based on a normalized P/E ratio of 10.1 times and an estimated EPS CAGR of 16.6% for FY 2024-2026 [9].

Expensify, Inc. (EXFY) came out with quarterly earnings of $0.07 per share, in line with the Zacks Consensus Estimate. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.08 per share when it actually produced earnings of $0.05, delivering a surprise of -37.50%. Over the last four quarters, the company has surpassed consensus EPS estimates just once. Expensify, which belongs to the ...

During an interview with Brad Pitt for the upcoming F1 movie, Cramer mentioned that Expensify is a sponsor of the in-movie fictional F1 racing team. He told viewers if they were going to remember one stock from the interview, it should be Expensify. Following this rally, Cramer put out another statement concerning EXFY stock. Here's what he said, according to Seeking Alpha. There are plenty of other stock market stories traders are going to want to read about below! "Guys I am being facetious about a compan ...

In addition to EXFY, there are several other stocks that currently pass through our 'Fast-Paced Momentum at a Bargain' screen. You may consider investing in them and start looking for the newest stocks that fit these criteria. Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more ...

Expensify, Inc. (EXFY) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Earnings Estim ...

Expensify has added unlimited virtual cards to its spend management platform. With the new Expensify Visa Commercial Card, businesses can manage all their expenses across employees and merchants, including both one-time and recurring expenses, the company said in a Monday (May 13) press release. "Managing costs is front and center for every business right now, so being able to manage both one-time and ongoing expenses such as subscriptions and memberships is crucial," David Barrett, founder and CEO of Expen ...

Expensify, Inc. (EXFY) came out with quarterly earnings of $0.05 per share, missing the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -37.50%. A quarter ago, it was expected that this company would post a loss of $0.03 per share when it actually produced earnings of $0.04, delivering a surprise of 233.33%.Over the last four quarters, the company ...