EXPENSIFY, INC.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Revenue | $142.1M | $139.2M | $150.7M | $169.5M | $142.8M | $88.1M | $80.5M |
| Cost of Revenue | $70.6M | $64.2M | $66.9M | $62.7M | $53.7M | $32.4M | $32.0M |
| Gross Profit | $71.5M | $75.0M | $83.8M | $106.8M | $89.1M | $55.7M | $48.5M |
| Gross Margin | 50.3% | 53.9% | 55.6% | 63.0% | 62.4% | 63.2% | 60.2% |
| Operating Expenses | |||||||
| Research & Development | $20.7M | $24.6M | $23.4M | $13.7M | $11.0M | $6.7M | $4.1M |
| SG&A Expense | $42.1M | $38.4M | $49.2M | $58.5M | $60.7M | $33.4M | $15.9M |
| Operating Income | $-18.0M | $-820.0K | $-33.1M | $-15.2M | $-10.3M | $5.7M | $1.2M |
| Operating Margin | -12.7% | -0.6% | -22.0% | -9.0% | -7.2% | 6.4% | 1.5% |
| Interest Expense | — | — | $5.2M | $4.5M | $3.1M | $2.9M | — |
| Pretax Income | $-16.3M | $-2.4M | $-38.5M | $-20.6M | $-13.7M | $3.0M | $-1.5M |
| Income Tax Expense | $5.1M | $7.7M | $3.0M | $6.4M | $-174.0K | $4.7M | $-2.8M |
| Net Income | $-21.4M | $-10.1M | $-41.5M | $-27.0M | $-13.6M | $-1.7M | $1.2M |
| Net Margin | -15.1% | -7.2% | -27.5% | -15.9% | -9.5% | -1.9% | 1.5% |
| EPS (Basic) | $-0.23 | $-0.12 | $-0.50 | $-0.33 | $-0.18 | $-0.03 | $0.00 |
| EPS (Diluted) | $-0.23 | $-0.12 | $-0.50 | $-0.33 | $-0.18 | $-0.03 | $0.00 |
| Shares Outstanding (Basic) | 92.3M | 87.4M | 82.5M | 80.8M | 76.1M | 54.8M | 51.8M |
| Shares Outstanding (Diluted) | 92.3M | 87.4M | 82.5M | 80.8M | 76.1M | 54.8M | 51.8M |
| Dividends Per Share | — | — | — | — | — | — | — |