Expensify Inc. Class A Common Stock Q3 2026 Earnings Recap

Expensify’s shares fell 8.1% after earnings, likely reflecting continued pressure on the core top line: management said it persists, while average paid members were 630,000 in Q3. Growth in New Expensify and improved cash generation were positives, but the call did not provide a clear near-term timeline for a return to sustainable growth.

Key Takeaways

• Q3 revenue was $33 million, with 630,000 average paid members; management acknowledged ongoing top-line pressure.
• New Expensify revenue exceeded $13 million in ARR, up 30% from Q2 and 212% year over year, excluding Classic customers who migrated.
• Free cash flow was $3.3 million, up 170% year over year; Expensify raised full-year 2026 free cash flow guidance to $13.5 million–$15.5 million from $12 million–$14 million.
• Expensify Card interchange revenue was $5.8 million, up 8% year over year; Travel bookings rose 40% year over year and 13% from Q2.
• Q3 GAAP net loss was $3.3 million, while non-GAAP net income was $3.1 million and adjusted EBITDA was $6.1 million.