Expensify reported first-quarter revenue increased 8 percent year over year to $36.1 million in the as the payments and expense app is seeing rapid growth in adoption of its Expensify Travel offering.
Travel bookings in Expensify increased 166 percent in the quarter compared with the fourth quarter of 2024, the company said. Expensify launched the capability to book travel within the app last year, with servicing capabilities provided by the Spotnana platform, and the company in February broadened its availability to its entire user base. CFO Ryan Schaffer in an earnings call noted that adoption of the travel offering is happening at twice the rate of its Expensify Card product at its launch.
For Expensify Card, interchange in the first quarter was $5.1 million, up 43 percent year over year.
Expensify reported a 5 percent decline year over year in paid members for the first quarter, with 657,000 paid members on the platform. The company had a net loss of $3.2 million for the first quarter, an improvement from the $3.8 million loss in the first quarter of 2024.
Expensify Q4 results
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