Expense management software firm Expensify Q3 revenue misses estimates

Reuters11-07
Expense management software firm <a href="https://laohu8.com/S/EXFY">Expensify</a> Q3 revenue misses estimates

Overview

  • Expensify Q3 revenue fell 1% yr/yr, missing analyst expectations

  • Interchange revenue from Expensify Card grew 18% yr/yr

  • Company repurchased 1.58 mln shares, totaling $3.0 mln

Outlook

  • Expensify estimates FY25 free cash flow between $19.0 mln and $23.0 mln

Result Drivers

  • INTERCHANGE REVENUE - Expensify Card interchange revenue grew 18% yr/yr, contributing positively to financial results

  • TRAVEL BOOKINGS - Expensify Travel saw a 36% increase in quarterly travel bookings, with a 95% increase since Q1

  • CONCIERGE AI LAUNCH - Launch of upgraded Concierge AI expected to improve customer experience and operational efficiency

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Miss

$35.07 mln

$35.80 mln (4 Analysts)

Q3 EPS

-$0.03

Q3 Net Income

-$2.32 mln

Q3 Income from Operations

-$2.26 mln

Q3 Operating Expenses

$19.66 mln

Q3 Pretax Profit

-$2.16 mln

Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the software peer group is "buy"

  • Wall Street's median 12-month price target for Expensify Inc is $2.50, about 35.2% above its November 5 closing price of $1.62

  • The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release: ID:nBw9xmZZda

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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