| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 6/6 |
| Past Performance | 0/6 |
| Financial Health | 5/6 |
| Dividends | 0/6 |
EXFY Stock Overview
Expensify, Inc. provides a cloud-based expense management software platform to individuals, small businesses, and corporations in the United States and internationally.
Rewards
Risk Analysis
No risks detected for EXFY from our risk checks.
Expensify Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$21.46 |
| 52 Week High | US$51.06 |
| 52 Week Low | US$13.58 |
| Beta | 0 |
| 1 Month Change | 22.63% |
| 3 Month Change | 7.25% |
| 1 Year Change | n/a |
| 3 Year Change | n/a |
| 5 Year Change | n/a |
| Change since IPO | -47.74% |
Recent News & Updates
Expensify GAAP EPS of -$0.10 misses by $0.02, revenue of $43.16M misses by $0.49M
Expensify press release (NASDAQ:EXFY): Q2 GAAP EPS of -$0.10 misses by $0.02. Revenue of $43.16M (+22.3% Y/Y) misses by $0.49M. The company experienced its strongest quarter for paid member growth to date, generated year-over-year interchange growth from the Expensify Card of 142% and saw positive operating cash flow of $27.2 million for the quarter. Non-GAAP net income was $6.1 million. Adjusted EBITDA was $11.7 million, with an Adjusted EBITDA margin of 27%. Shares -16.67%.
Are Investors Undervaluing Expensify, Inc. (NASDAQ:EXFY) By 44%?
In this article we are going to estimate the intrinsic value of Expensify, Inc. ( NASDAQ:EXFY ) by estimating the...
Shareholder Returns
| EXFY | US Software | US Market | |
|---|---|---|---|
| 7D | 2.4% | 0.7% | 3.2% |
| 1Y | n/a | -15.5% | -10.2% |
Return vs Industry: Insufficient data to determine how EXFY performed against the US Software industry.
Return vs Market: Insufficient data to determine how EXFY performed against the US Market.
Price Volatility
| EXFY volatility | |
|---|---|
| EXFY Average Weekly Movement | 10.3% |
| Software Industry Average Movement | 10.2% |
| Market Average Movement | 7.7% |
| 10% most volatile stocks in US Market | 16.9% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: EXFY is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 10% a week.
Volatility Over Time: EXFY's weekly volatility (10%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 2008 | 144 | David Barrett | https://www.expensify.com |
Expensify, Inc. provides a cloud-based expense management software platform to individuals, small businesses, and corporations in the United States and internationally. The company’s platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel. It also offers track and submit plans for individuals.
Expensify Fundamentals Summary
| EXFY fundamental statistics | |
|---|---|
| Market Cap | US$1.76b |
| Earnings (TTM) | -US$34.18m |
| Revenue (TTM) | US$161.34m |
10.9x
P/S Ratio-51.4x
P/E RatioIs EXFY overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| EXFY income statement (TTM) | |
|---|---|
| Revenue | US$161.34m |
| Cost of Revenue | US$68.13m |
| Gross Profit | US$93.21m |
| Other Expenses | US$127.39m |
| Earnings | -US$34.18m |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.42 |
| Gross Margin | 57.77% |
| Net Profit Margin | -21.18% |
| Debt/Equity Ratio | 72.6% |
How did EXFY perform over the long term?
See historical performance and comparisonValuation
Is EXFY undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
3/6Valuation Score 3/6
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
Analyst Forecast
Key Valuation Metric
Which metric is best to use when looking at relative valuation for EXFY?
Other financial metrics that can be useful for relative valuation.
| What is EXFY's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$1.76b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 10.7x |
| Enterprise Value/EBITDA | -48.7x |
| PEG Ratio | n/a |
Price to Sales Ratio vs Peers
How does EXFY's PS Ratio compare to its peers?
| EXFY PS Ratio vs Peers |
|---|
| Company | PS | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 8.2x | ||
MTTR Matterport | 15.4x | 31.3% | US$1.7b |
ENFN Enfusion | 7.5x | 26.0% | US$1.7b |
IDCC InterDigital | 3.5x | -3.5% | US$1.7b |
DCT Duck Creek Technologies | 6.4x | 10.3% | US$1.9b |
EXFY Expensify | 10.9x | 20.8% | US$1.8b |
Price-To-Sales vs Peers: EXFY is expensive based on its Price-To-Sales Ratio (10.9x) compared to the peer average (8.2x).
Price to Earnings Ratio vs Industry
How does EXFY's PE Ratio compare vs other companies in the US Software Industry?
Price-To-Sales vs Industry: EXFY is expensive based on its Price-To-Sales Ratio (10.9x) compared to the US Software industry average (5.6x)
Price to Sales Ratio vs Fair Ratio
What is EXFY's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PS Ratio | 10.9x |
| Fair PS Ratio | 5.3x |
Price-To-Sales vs Fair Ratio: EXFY is expensive based on its Price-To-Sales Ratio (10.9x) compared to the estimated Fair Price-To-Sales Ratio (5.3x).
Share Price vs Fair Value
What is the Fair Price of EXFY when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: EXFY ($21.46) is trading below our estimate of fair value ($33.34)
Significantly Below Fair Value: EXFY is trading below fair value by more than 20%.
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.
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Future Growth
How is Expensify forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Future Growth Score
6/6Future Growth Score 6/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
113.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: EXFY is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).
Earnings vs Market: EXFY is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: EXFY is expected to become profitable in the next 3 years.
Revenue vs Market: EXFY's revenue (20.8% per year) is forecast to grow faster than the US market (7.9% per year).
High Growth Revenue: EXFY's revenue (20.8% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: EXFY's Return on Equity is forecast to be high in 3 years time (37.4%)
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Past Performance
How has Expensify performed over the past 5 years?
Past Performance Score
0/6Past Performance Score 0/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
-65,823.1%
Last years earnings growth
Earnings and Revenue History
Quality Earnings: EXFY is currently unprofitable.
Growing Profit Margin: EXFY is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: Insufficient data to determine if EXFY's year-on-year earnings growth rate was positive over the past 5 years.
Accelerating Growth: Unable to compare EXFY's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: EXFY is unprofitable, making it difficult to compare its past year earnings growth to the Software industry (18.7%).
Return on Equity
High ROE: EXFY has a negative Return on Equity (-47.04%), as it is currently unprofitable.
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Financial Health
How is Expensify's financial position?
Financial Health Score
5/6Financial Health Score 5/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway
Financial Position Analysis
Short Term Liabilities: EXFY's short term assets ($191.5M) exceed its short term liabilities ($69.8M).
Long Term Liabilities: EXFY's short term assets ($191.5M) exceed its long term liabilities ($52.9M).
Debt to Equity History and Analysis
Debt Level: EXFY has more cash than its total debt.
Reducing Debt: Insufficient data to determine if EXFY's debt to equity ratio has reduced over the past 5 years.
Balance Sheet
Cash Runway Analysis
For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.
Stable Cash Runway: Whilst unprofitable EXFY has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.
Forecast Cash Runway: EXFY is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 15.9% per year.
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Dividend
What is Expensify current dividend yield, its reliability and sustainability?
Dividend Score
0/6Dividend Score 0/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Cash Flow Coverage
Dividend Yield vs Market
Notable Dividend: Unable to evaluate EXFY's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate EXFY's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if EXFY's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if EXFY's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as EXFY has not reported any payouts.
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Management
How experienced are the management team and are they aligned to shareholders interests?
1.6yrs
Average management tenure
CEO
David Barrett (45 yo)
14.58yrs
Tenure
US$3,341,880
Compensation
Mr. David Barrett Founded Expensify, LLC in 2008 and serves as its Chief Executive Officer & Director since 2009 & serves as its President. Prior to Expensify, Mr. Barrett led engineering for Red Swoosh...
CEO Compensation Analysis
Compensation vs Market: David's total compensation ($USD3.34M) is below average for companies of similar size in the US market ($USD5.40M).
Compensation vs Earnings: David's compensation has increased whilst the company is unprofitable.
Leadership Team
Experienced Management: EXFY's management team is not considered experienced ( 1.6 years average tenure), which suggests a new team.
Board Members
Experienced Board: EXFY's board of directors are not considered experienced ( 0.8 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: EXFY only recently listed within the past 12 months.
Top Shareholders
Company Information
Expensify, Inc.'s employee growth, exchange listings and data sources
Key Information
- Name: Expensify, Inc.
- Ticker: EXFY
- Exchange: NasdaqGS
- Founded: 2008
- Industry: Application Software
- Sector: Software
- Implied Market Cap: US$1.756b
- Shares outstanding: 81.82m
- Website: https://www.expensify.com
Number of Employees
Location
- Expensify, Inc.
- 401 SW 5th Avenue
- Portland
- Oregon
- 97204
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/08/14 00:00 |
| End of Day Share Price | 2022/08/12 00:00 |
| Earnings | 2022/06/30 |
| Annual Earnings | 2021/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.