Expensify(US:EXFY)2026-02-26 23:02Financial Data and Key Metrics Changes - Q4 revenue was $35.2 million, with a fiscal year 2025 revenue of $142.1 million, reflecting growth [3][4] - Average paid members remained stable at 650,000 for both Q4 and fiscal year 2025 [3][4] - Total interchange increased to $21.3 million in fiscal year 2025, up from $5.5 million in Q4 [3][4] - Q4 operating cash flow was $2.2 million, while fiscal year 2025 operating cash flow reached $20.1 million [3][4] - Free cash flow for fiscal year 2025 was $19.9 million, exceeding initial guidance [4][5] - Net loss for fiscal year 2025 was $21.4 million, primarily due to stock-based compensation and expenses related to the F1 movie [4] Business Line Data and Key Metrics Changes - Expensify Travel bookings in Q4 increased by 434% compared to Q4 of 2024, indicating strong customer adoption [7] - The Expensify Card saw a 24% year-over-year increase in interchange revenue [8] Market Data and Key Metrics Changes - The company entered a multi-year integration partnership with Uber for Business, enhancing its market position in corporate travel and expense workflows [6] 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] - The strategy includes leveraging AI to enhance user experience and operational efficiency, with a focus on product-led growth [12][17] - The introduction of a new free Submit plan aims to increase grassroots adoption among employees [13] Management's Comments on Operating Environment and Future Outlook - Management expressed a conservative outlook for fiscal year 2026, anticipating lower free cash flow guidance of $6 million to $9 million due to increased investments in sales, marketing, and AI [5] - The management believes that AI presents more opportunities than risks for Expensify, positioning the company to thrive amid AI advancements [25][26] Other Important Information - 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 business prospects [8] Q&A Session Summary Question: What is Expensify's place in an AI world? - Management acknowledged that while AI poses challenges, Expensify's collaborative nature and access to regulated financial networks provide significant competitive advantages [21][23] Question: What contributed to the increase in paid members in Q4 2025? - Management attributed the increase primarily to seasonal trends, with migration to the new product also playing a role in customer retention [30]