Expensify(US:EXFY)2026-02-26 23:00Financial Data and Key Metrics Changes - Q4 2025 revenue was $35.2 million, with a net loss of $7.1 million and a non-GAAP net loss of $2.1 million, while adjusted EBITDA was $3.3 million [3][4] - For fiscal year 2025, total revenue reached $142.1 million, with a net loss of $21.4 million primarily due to stock-based compensation and expenses related to the F1 movie [4] - Fiscal year 2025 free cash flow was $19.9 million, exceeding initial guidance of $16 million-$20 million [4][5] - The company is initiating fiscal year 2026 free cash flow guidance of $6 million-$9 million, reflecting a conservative outlook [5] Business Line Data and Key Metrics Changes - Average paid members remained stable at 650,000 for both Q4 2025 and fiscal year 2025 [3][4] - Total interchange revenue for fiscal year 2025 was $21.3 million, a 24% increase year-over-year [4][7] - Expensify Travel bookings in Q4 2025 increased by 434% compared to Q4 2024, indicating strong customer adoption [6] Market Data and Key Metrics Changes - The company reported a total interchange of $5.5 million in Q4 2025, contributing to the overall growth in revenue [3] - The company repurchased over 4.8 million shares of Class A common stock throughout 2025, totaling approximately $9 million, reflecting management's confidence in long-term opportunities [7] Company Strategy and Development Direction - The company is focused on migrating existing customers to the New Expensify platform, achieving full feature parity for 90% of revenue-generating customers [9] - A multi-year integration partnership with Uber for Business was established to automate travel and meal receipts, enhancing policy controls [6] - The company is emphasizing AI integration into its user experience, with a focus on "accountable intelligence" through its Concierge AI feature [14][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's ability to thrive in an AI-driven world, viewing AI as an opportunity rather than a threat [25][26] - The company acknowledged the challenges posed by advances in AI but highlighted its unique collaborative capabilities as a competitive advantage [21][22] - Management noted that the increase in paid members in Q4 2025 was primarily seasonal, with expectations for continued growth as migration progresses [31] Other Important Information - The company received the TrustRadius 2026 Buyer's Choice Award in the expense management category, based on customer reviews [6] - The New Expensify platform is designed to facilitate product-led growth, with a focus on grassroots adoption among employees [12][13] Q&A Session Summary Question: What is Expensify's place in an AI world? - Management acknowledged that while AI could disrupt certain applications, Expensify's focus on collaboration and access to regulated financial networks provides a competitive moat [21][22][23] Question: What contributed to the increase in paid members in Q4 2025? - Management attributed the increase to seasonal trends and the positive impact of the migration to the New Expensify platform [31]