Expensify, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 06:32 am EST
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Expensify, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 36.49 million compared to USD 42.49 million a year ago. Net loss was USD 17 million compared to USD 8.24 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to USD 0.1 a year ago.
For the nine months, sales was USD 115.48 million compared to USD 126.03 million a year ago. Net loss was USD 34.25 million compared to USD 23.61 million a year ago. Basic loss per share from continuing operations was USD 0.42 compared to USD 0.29 a year ago.
Expensify, Inc. (Expensify) is engaged in offering a cloud-based expense management software platform that helps businesses to simplify the way they manage money. Its platform is used by people in organizations around the world use Expensify to scan and reimburse receipts from flights, hotels, coffee shops, office supplies and ride shares. It improves the experience of the actual end users of expense management software. It designs Expensify to be easy to set up, integrate, configure, and use from any device, which has enabled it to serve employees of all types and organizations of all sizes, industries, and geographies. It offers simple, transparent, and flexible subscription plans for both individuals and businesses that are completely self-service and payable by credit card. The Company has designed its platform to be used by everyone in an organization, from employees to managers to the finance department. Its individual subscriptions include its track and submit plans.