Expensify(US:EXFY)2024-02-24 22:58Financial Performance & Guidance - FY23 revenue reached $150.7 million, with 732,000 average paid members and $11.1 million in net interchange[4] - Q4 2023 revenue was $35.2 million, with 719,000 average paid members and $3.1 million in net interchange[19] - FY23 Operating Cash Flow was $1.6 million[9] - The company projects FY24 Free Cash Flow to be between $10.0 million and $12.0 million[10] - Q4 2023 saw a Net Loss of $(41.7) million, a Non-GAAP Net Loss of $(0.5) million, and an Adjusted EBITDA of $13.2 million[17] Impact of Cost Cutting Measures - Operating Cash Flow improved by $4.9 million, a 90.2% increase[8] - Net Loss improved by $9.5 million, a 55.9% increase[8] - Adjusted EBITDA improved by $9.4 million, a 268.6% increase[8] Business Highlights & Strategy - Interchange derived from the Expensify Card grew 63% year-over-year to $11.1 million[12] - The company is transitioning to a new card program expected to be completed by the end of 2024, which will increase interchange fees by 20%[27, 41] - The company is targeting the untapped VSB/SMB market, which has 1.3 billion users[37, 50]