<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Expensify, a platform offering several business expenses and payout solutions, reported a revenue decline of 19% YoY in Q4 2023 to USD 35.2 million (annual revenue dropped 11% YoY to USD 150.7 million). Meanwhile, the company's paid members dropped 8% YoY to ~719,000.​​
      </p>
    </li>
    <li>
      <p>
        Over the quarter, Expensify launched a new budgeting tool, which works for reimbursable and corporate card expenses to provide admins with more insight into company finances. The company also established a new card program that provides more interchange per transaction. All new customers fall under this card program, and existing customers are expected to be fully migrated by 2024.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://ir.expensify.com/news-releases/news-release-details/expensify-announces-q4-and-full-year-fiscal-2023-results">
      Press release
    </a>
  </p>
  <p>
  </p>
  <p>
  </p>
</div>


Business Expense Management

<div>
 
 <p>Expensify, a business expenses and payout platform, experienced a 19% YoY decline in its Q4 2023 revenue, registering USD 35.2 million, with the annual revenue also down by 11% YoY to USD 150.7 million. The number of paid members also decreased by 8% YoY, standing at approximately 719,000.</p>
 <p>In the same quarter, the company introduced a new budgeting tool for reimbursable and corporate card expenses, aiming to give admins a better understanding of company finances. Moreover, a novel card program was initiated, which offers more interchange per transaction. This program covers all new customers and it is projected that all existing customers will be transitioned to this program by 2024.</p>
 
</div>

Expensify Q4 2023 update: Strategic cost cutting and new solutions introduction amidst loss

DISRUPTOR_PRESENT

<div>
 
 <ul>
  <li><p>Expensify introduced product updates such as messaging, money transfers with receipt scanning, bill splitting with currency conversion, and business chat. These updates are integrated with real-time expense management for small businesses.</p></li>
  <li><p>Despite the updates, the company experienced a 6% YoY decrease in paid members, bringing the total down to 719,000.</p></li>
  <li><p>To strengthen its presence in the accounting channel, Expensify offered Accounting Partners a revenue share for onboarding clients with the Expensify Card. Expensify plans to become the program manager of the Expensify Card, increasing interchange revenue by 20% under the new card program.</p></li>
 </ul>
 
</div>

Expensify Q3 2023 update: Product development milestones and strategic initiatives amidst paid membership decline

PROMINENT_CATEGORY

<div>
<ul>
<li>
<p>Expensify has launched a new feature in its app, allowing users to send and receive money, split expenses, and engage in the chat feature. This move marks the company's expansion into personal finance.</p>
</li>
<li>
<p>The new feature enables financial collaboration for various groups, including roommates, student organizations, church congregations, neighborhood associations, professional societies, and friends.</p>
</li>
<li>Expensify is currently trialling bill splitting in their app at the Money20/20 conference in Las Vegas.</li>
</ul>
</div>

All Updates

Expensify Q4 2023 update: Strategic cost cutting and new solutions introduction amidst loss

Expensify Q3 2023 update: Product development milestones and strategic initiatives amidst paid membership decline

Expensify ventures into personal finance

Expensify Q2 results fall below consensus as revenue drops YoY

Expensify Q1 results fall below consensus as revenue drops YoY

Expensify Q4 EPS beats analysts’ consensus estimates despite revenue missing

Expensify Q3 revenue and EPS miss analyst consensus estimates