Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $80.5M | $88.1M | $143M | $169M | $151M | $139M | $142M |
| Revenue growth | — | 9.5% | 62.2% | 18.7% | -11.1% | -7.6% | 2.1% |
| Gross profit | $48.5M | $55.7M | $89.1M | $107M | $83.8M | $75.0M | $71.5M |
| Gross margin | 60.2% | 63.2% | 62.4% | 63.0% | 55.6% | 53.9% | 50.3% |
| Operating income | $1.25M | $5.67M | -$10.3M | -$15.2M | -$33.1M | -$820K | -$18.0M |
| Operating margin | 1.5% | 6.4% | -7.2% | -9.0% | -22.0% | -0.6% | -12.7% |
| Net income | $1.24M | -$1.71M | -$13.6M | -$27.0M | -$41.5M | -$10.1M | -$21.4M |
| Net margin | 1.5% | -1.9% | -9.5% | -15.9% | -27.5% | -7.2% | -15.1% |
| EPS (diluted) | $0.00 | -$0.06 | -$0.36 | -$0.33 | -$0.50 | -$0.12 | -$0.23 |
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $12.4M | $7.58M | $5.49M | $32.9M | $1.56M | $23.9M | $20.1M |
| Capital expenditures | $3.23M | $2.49M | $2.71M | $585K | $1.38M | $0.00 | $17.0K |
| Free cash flow | $9.20M | $5.10M | $2.78M | $32.3M | $175K | $23.9M | $20.1M |
| Share buybacks | $14.0K | $0.00 | $0.00 | $6.00M | $3.00M | $1.51M | $9.10M |
| Fiscal year | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $9.99M | $34.4M | $98.4M | $104M | $47.5M | $48.8M | $63.1M |
| Total assets | — | $87.7M | $183M | $210M | $177M | $174M | $186M |
| Total liabilities | — | $73.7M | $107M | $113M | $76.0M | $45.4M | $53.2M |
| Long-term debt | — | $30.3M | $52.1M | $51.4M | $0.00 | — | — |
| Shareholders' equity | -$48.5M | -$31.0M | $76.6M | $97.2M | $101M | $128M | $133M |
| Retained earnings | — | -$52.3M | -$65.9M | -$97.6M | -$141M | -$151M | -$172M |
| Shares (wtd avg diluted) | 25.9M | 27.4M | 38.0M | 80.8M | 82.5M | 87.4M | 92.3M |
Every figure is extracted from Expensify, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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