How did Expensify's revenue and expenses trend in Q4 2024?

Expensify's revenue and expenses in Q4 2024 showed a decline in revenue and a decrease in certain expenses compared to the previous year's fourth quarter.

1. **Revenue Trend**: The company's revenue decreased to $35.4 million in Q4 2024, which is a 3.0% decrease from the $35.4 million reported in Q3 2023. This decline in revenue was partly due to a decrease in billable activity and an increase in cashback payments, as indicated in the 10-Q filing.
2. **Expense Trend**: Expensify's net loss for the quarter was $2.2 million, which is a significant improvement from the $17.0 million net loss in the same quarter of the previous year. This improvement was due to decreased employee-related expenses, settlement losses, and insurance costs, which led to a decrease in general and administrative expenses. Additionally, research and development expenses decreased, and sales and marketing expenses were reduced, primarily due to decreased advertising and outsourcing costs.

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|EXFY|EXFY.O|Expensify|2024 Q1|36.40033641715728|-3781000|185|
|EXFY|EXFY.O|Expensify|2024 Q2|75.54847841472045|-2764000|185|
|EXFY|EXFY.O|Expensify|2024 Q3|87.07286949361878|-2198000|185|
|EXFY|EXFY.O|Expensify|2024 Q4|81.78789561354803|-1312000|185|

|code|Ticker|Name|Date|R&D Expenses|Operating Expenses|Advertising and Marketing Expenses|market_code|
|---|---|---|---|---|---|---|---|
|EXFY|EXFY.O|Expensify|2024 Q1|5929000|||185|
|EXFY|EXFY.O|Expensify|2024 Q2|6389000|||185|
|EXFY|EXFY.O|Expensify|2024 Q3|5618000|||185|
|EXFY|EXFY.O|Expensify|2024 Q4|6702000|||185|

In summary, Expensify experienced a decline in revenue but a significant reduction in net losses in Q4 2024, primarily driven by decreased expenses such as employee-related costs, advertising, and outsourcing expenses.