Expensify
Expense management for small businesses and individuals, listed on Nasdaq, with 640,000 paid members and a company-wide rebuild onto New Expensify, whose revenue is growing 250% a year while the legacy product declines.
| Founded | 2008, San Francisco; now Portland, Oregon |
|---|---|
| Founders | David Barrett (CEO) |
| Ownership | Listed on Nasdaq (EXFY) |
| Revenue | US$33.9m in the second quarter of 2026, down year on year; New Expensify above US$10m in annual recurring revenue, up more than 250%; free cash flow guidance US$12m to US$14m for 2026 |
| Customers | 640,000 paid members; more than 56% of users now on New Expensify |
| What it does | Receipt scanning, expense reports, corporate card with interchange revenue, invoicing, bill pay and travel, sold bottom-up to employees and through accountants |
| Recent moves | Migration to New Expensify, an open source chat-based platform; card interchange up 12%; cost cuts to protect free cash flow |
| Pricing | Free for individuals; Collect from about US$5 per member per month; Control from about US$9 with the Expensify Card |
| Markets | US, UK, Australia |
| Peers | Ramp, Brex, Navan, Emburse, Rydoo |
Why it matters
Expensify is the public-market cautionary tale of spend management: the pioneer of bottom-up expense software, now shrinking overall while it bets the company on a rebuilt product. New Expensify’s 250% growth is the number that decides whether it recovers or gets bought.
Updated September 2026.
Part of Accountio’s accounting technology coverage.
