Expensify, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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.
Sep 30, 2026 · Filed Nov 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(unaudited, in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities: | ||
| Net loss | $(9,523) | $(14,272) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 6,943 | 6,179 |
| Reduction of operating lease right-of-use assets | 446 | 427 |
| Loss on impairment, receivables and sale or disposal of equipment | 907 | 448 |
| Stock-based compensation expense | 19,636 | 21,580 |
| Amortization of debt issuance costs | 112 | 79 |
| Deferred income taxes | 73 | 2 |
| Changes in assets and liabilities: | ||
| Accounts receivable, net | 629 | 50 |
| Settlement assets, net | (4,479) | (5,658) |
| Prepaid expenses | 325 | 7,915 |
| Other current assets | 6,207 | (2,564) |
| Other assets | (267) | 6 |
| Accounts payable | 640 | 451 |
| Accrued expenses and other liabilities | (10,463) | (350) |
| Operating lease liabilities | (483) | (435) |
| Settlement liabilities | 1,575 | 1,318 |
| Other liabilities | 288 | (116) |
| Net cash provided by operating activities | 12,566 | 15,060 |
| Cash flows from investing activities: | ||
| Purchase of property and equipment and other assets | (227) | (17) |
| Software development costs | (3,030) | (2,740) |
| Net cash used in investing activities | (3,257) | (2,757) |
| Cash flows from financing activities: | ||
| Change in customer funds, net | 5,654 | 2,827 |
| Principal payments of finance leases | (100) | (104) |
| Payments for debt issuance costs | (114) | (88) |
| Proceeds from common stock purchased under the Matching Plan | 4,210 | 4,351 |
| Proceeds from issuance of common stock upon exercise of stock options | 66 | 315 |
| Payments for employee taxes withheld from stock-based awards | (133) | — |
| Repurchase and retirement of common stock | (10,477) | (6,057) |
| Net cash (used in) provided by financing activities | (894) | 1,244 |
| Net increase in cash and cash equivalents and restricted cash | 8,415 | 13,547 |
| Cash and cash equivalents and restricted cash at beginning of period | 104,624 | 90,834 |
| Cash and cash equivalents and restricted cash at end of period | $113,039 | $104,381 |
| Noncash investing and financing items: | ||
| Stock-based compensation capitalized as software development costs | $935 | $1,359 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
Condensed Consolidated Statements of Cash Flows
(unaudited, in thousands)
| Repurchases and retirement of common stock in accounts payable and accrued expenses | $13 | $— |
|---|---|---|
| Purchases of property and equipment and other assets and capitalized software in accounts payable and accrued expenses | $62 | $78 |
| Fair value of common stock issued to settle liability-classified restricted stock units | $1,031 | $792 |
| Right-of-use assets acquired with operating lease liabilities | $1,123 | $— |
| Reconciliation of cash and cash equivalents and restricted cash to the Condensed Consolidated Balance Sheets: | ||
| Cash and cash equivalents | $63,747 | $61,453 |
| Restricted cash included in other current assets | 20,163 | 17,875 |
| Restricted cash included in settlement assets, net | 29,129 | 25,053 |
| Total cash and cash equivalents and restricted cash | $113,039 | $104,381 |
The accompanying notes are an integral part of these condensed consolidated financial statements.
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