Expensify, Inc.
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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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.
FY2025 · Filed Feb 26, 2026
EXFY$1.85-9.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| As of December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Cash and cash equivalents | $63,080 | $48,772 |
| Accounts receivable, net | 12,617 | 12,701 |
| Settlement assets, net | 45,378 | 42,406 |
| Prepaid expenses | 5,588 | 12,089 |
| Other current assets | 26,344 | 20,908 |
| Total current assets | 153,007 | 136,876 |
| Capitalized software, net | 13,596 | 16,232 |
| Property and equipment, net | 13,016 | 13,621 |
| Lease right-of-use assets | 4,730 | 5,441 |
| Deferred tax assets, net | 494 | 499 |
| Other assets | 1,146 | 1,011 |
| Total assets | $185,989 | $173,680 |
| Liabilities and stockholders' equity | ||
| Accounts payable | $289 | $196 |
| Accrued expenses and other liabilities | 17,893 | 8,240 |
| Lease liabilities, current | 678 | 729 |
| Settlement liabilities | 27,545 | 28,845 |
| Total current liabilities | 46,405 | 38,010 |
| Lease liabilities, non-current | 5,061 | 5,738 |
| Other liabilities | 1,778 | 1,689 |
| Total liabilities | 53,244 | 45,437 |
| Commitments and contingencies (Note 12) | ||
| Stockholders' equity: | ||
| Preferred stock, par value $0.0001; 10,000,000 shares of preferred stock authorized; no shares of preferred stock issued and outstanding as of December 31, 2025 and 2024 | — | — |
| Common stock, par value $0.0001;Class A common stock; 1,000,000,000 shares authorized; 80,767,385 and 79,471,414 shares issued and outstanding as of December 31, 2025 and 2024, respectivelyLT10 common stock; 21,871,197 shares authorized; 4,209,827 shares issued and outstanding as of December 31, 2025 and 2024LT50 common stock; 24,967,114 shares authorized; 8,083,690 and 7,695,524 shares issued and outstanding as of December 31, 2025 and 2024, respectively | 9 | 9 |
| Additional paid-in capital | 304,953 | 279,062 |
| Accumulated deficit | (172,217) | (150,828) |
| Total stockholders' equity | 132,745 | 128,243 |
| Total liabilities and stockholders' equity | $185,989 | $173,680 |
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.