Expensify Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 27, 2025
EXFY$1.72-7.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net loss | $(10,055) | $(41,456) | $(27,009) |
| Adjustments to reconcile net loss to cash provided by operating activities: | |||
| Depreciation and amortization | 6,814 | 5,164 | 5,388 |
| Reduction of operating lease right-of-use assets | 547 | 614 | 666 |
| Loss on impairment, receivables and sale or disposal of equipment | 727 | 923 | 881 |
| Stock-based compensation | 33,537 | 41,212 | 52,332 |
| Amortization of original issue discount and debt issuance costs | 54 | 257 | 42 |
| Deferred tax assets | (42) | (113) | 26 |
| Changes in assets and liabilities: | |||
| Accounts receivable, net | 704 | 2,219 | (1,341) |
| Settlement assets, net | (2,469) | (6,398) | (7,796) |
| Prepaid expenses | (1,490) | 3,176 | (1,389) |
| Related party loan receivable | — | — | 14 |
| Other current assets | 2,341 | (561) | 2,875 |
| Other assets | (167) | (5,130) | (81) |
| Accounts payable | (1,091) | 228 | (2,693) |
| Accrued expenses and other liabilities | (404) | 906 | (1,537) |
| Operating lease liabilities | 8 | (200) | (758) |
| Settlement liabilities | (5,145) | 108 | 12,202 |
| Other liabilities | 8 | 610 | 1,054 |
| Net cash provided by operating activities | 23,877 | 1,559 | 32,876 |
| Cash flows from investing activities: | |||
| Purchase of property and equipment | — | (1,384) | (585) |
| Proceeds from sale or disposal of property and equipment | — | — | 5 |
| Software development costs | (7,628) | (5,910) | (1,619) |
| Net cash used in investing activities | (7,628) | (7,294) | (2,199) |
| Cash flows from financing activities: | |||
| Principal payments of finance leases | (129) | (513) | (793) |
| Principal payments of outstanding debt | (22,671) | (44,587) | (595) |
| Repurchases of early exercises of common stock | (35) | (17) | (25) |
| Proceeds from common stock purchased under Matching Plan | 4,091 | 4,255 | 3,672 |
| Proceeds from issuance of common stock on exercise of stock options | 431 | 311 | 795 |
| Payments for debt issuance costs | (71) | — | — |
| Payments for employee taxes withheld from stock-based awards | (2,179) | (1,766) | (5,336) |
| Repurchase and retirement of common stock | (1,510) | (3,000) | (6,000) |
| Net cash used in financing activities | (22,073) | (45,317) | (8,282) |
The accompanying notes are an integral part of these consolidated financial statements.
| Net (decrease) increase in cash and cash equivalents and restricted cash | (5,824) | (51,052) | 22,395 |
|---|---|---|---|
| Cash and cash equivalents and restricted cash, beginning of period | 96,658 | 147,710 | 125,315 |
| Cash and cash equivalents and restricted cash, end of period | $90,834 | $96,658 | $147,710 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $1,362 | $5,936 | $3,912 |
| Cash paid for income taxes | $5,072 | $3,785 | $975 |
| Noncash investing and financing items: | |||
| Stock-based compensation capitalized as software development costs | $2,688 | $3,126 | $1,757 |
| Purchases of property and equipment and capitalized software in accounts payable and accrued expenses | $37 | $390 | $— |
| Right-of-use assets acquired through operating leases | $— | $6,402 | $— |
| Right-of-use assets acquired through finance leases | $— | $409 | $— |
| Cashless exercise of stock options | $335 | $— | $— |
| Reconciliation of cash and cash equivalents and restricted cash to the Consolidated Balance Sheets: | |||
| Cash and cash equivalents | $48,772 | $47,510 | $103,787 |
| Restricted cash included in other current assets | 19,980 | 27,742 | 19,542 |
| Restricted cash included in settlement assets, net | 22,082 | 21,406 | 24,381 |
| Total cash and cash equivalents and restricted cash | $90,834 | $96,658 | $147,710 |
The accompanying notes are an integral part of these consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.