Expensify Q2 Revenue Up, Net Loss Widens Amid Increased Expenses

Expensify, Inc. reported Q2 revenue of $35.8 million, up from $33.3 million last year, but also a net loss of $8.8 million, up from $2.8 million last year. The increase in operating expenses, particularly in sales and marketing, contributed to the widened loss. Despite the financial challenges, Expensify's management remains focused on expanding its market presence and enhancing its platform capabilities.

Expensify, Inc. (Nasdaq: EXFY) reported its second quarter 2025 financial results, showing mixed performance with revenue growth and significant financial challenges. The company reported Q2 revenue of $35.8 million, a 7% increase from $33.3 million in the same period last year. However, the company also reported a net loss of $8.8 million, up from $2.8 million last year, driven primarily by increased operating expenses, particularly in sales and marketing.

The company's interchange derived from the Expensify Card grew to $5.3 million, an increase of 31% compared to the same period last year. This growth was driven by the company's continued focus on expanding its market presence and enhancing its platform capabilities.

Expensify's management remains focused on expanding its market presence and enhancing its platform capabilities. The company announced plans to launch the Expensify Card in the UK and most of the EU this month, and Canada is on the way. This expansion will provide over 30 million more businesses in 18 new countries access to the Expensify Card for the first time. Additionally, the company added support for third-party card feeds from over 10,000 additional banks worldwide and launched Euro-based billing.

Despite the financial challenges, Expensify's management remains optimistic about the company's future prospects. The company expects to achieve financial AI supremacy in the third quarter of this year and continues to invest in its platform capabilities to drive growth and profitability.

Expensify will host a video call to discuss the financial results and business highlights at 2:00 p.m. Pacific Time today. An investor presentation and the video call information is available on Expensify's Investor Relations website.

References:

[1] https://www.businesswire.com/news/home/20250807423670/en/Expensify-Announces-Q2-2025-Results