Expensify, Inc.
For the period ended Mar 31, 2026. Filed May 7, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
(unaudited, in thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(2,337) | $(3,169) |
| Adjustments to reconcile net loss to cash provided by operating activities: | ||
| Depreciation and amortization | 2,256 | 1,983 |
| Reduction of operating lease right-of-use assets | 137 | 138 |
| Loss on impairment, receivables and sale or disposal of equipment | 544 | 156 |
| Stock-based compensation | 5,977 | 7,990 |
| Amortization of debt issuance costs | 52 | 11 |
| Deferred tax assets | 8 | (6) |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | (28) | 53 |
| Settlement assets, net | (4,481) | (5,555) |
| Prepaid expenses | 796 | 590 |
| Other current assets | 6,261 | 150 |
| Other assets | (55) | (26) |
| Accounts payable | 547 | 330 |
| Accrued expenses and other liabilities | (10,189) | 1,462 |
| Operating lease liabilities | (144) | (137) |
| Settlement liabilities | 730 | 3,809 |
| Other liabilities | 44 | 77 |
| Net cash provided by operating activities | 118 | 7,856 |
| Cash flows from investing activities: | ||
| Software development costs | (1,412) | (498) |
| Net cash used in investing activities | (1,412) | (498) |
| Cash flows from financing activities: | ||
| Change in customer funds, net | 4,437 | (3,051) |
| Principal payments of finance leases | (37) | (34) |
| Proceeds from common stock purchased under Matching Plan | 1,828 | 1,151 |
| Proceeds from issuance of common stock on exercise of stock options | 39 | 91 |
| Net cash provided by (used in) financing activities | 6,267 | (1,843) |
| Net increase in cash and cash equivalents and restricted cash | 4,973 | 5,515 |
| Cash and cash equivalents and restricted cash, beginning of period | 104,624 | 90,834 |
| Cash and cash equivalents and restricted cash, end of period | $109,597 | $96,349 |
| Noncash investing and financing items: | ||
| Stock-based compensation capitalized as software development costs | $271 | $239 |
| Purchases of property and equipment and capitalized software in accounts payable and accrued expenses | $182 | $174 |
| Fair value of common stock issued to settle liability-classified restricted stock units | $376 | $— |
The accompanying notes are an integral part of these condensed consolidated financial statements.
Condensed Consolidated Statements of Cash Flows
(unaudited, in thousands)
| Reconciliation of cash and cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets: | ||
|---|---|---|
| Cash and cash equivalents | $66,528 | $59,627 |
| Restricted cash included in other current assets | 19,718 | 19,225 |
| Restricted cash included in settlement assets, net | 23,351 | 17,497 |
| Total cash and cash equivalents and restricted cash | $109,597 | $96,349 |
The accompanying notes are an integral part of these condensed 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.