Expensify Inc

Expensify raised its full-year 2026 free cash flow guidance to $12 million to $14 million, up from a prior range of $6 million to $9 million. The company reported second-quarter revenue of $33.9 million, with average paid members of 640,000, and operating cash flow of $8.4 million and free cash flow of $6.4 million. It also completed a modified Dutch auction tender offer and open-market purchases totaling approximately 6.8 million shares, reducing shares outstanding by roughly 7%. Net new revenue from New Expensify grew more than 250% year-on-year to over $10 million in annual recurring revenue, and 56% of users are now on the new platform.

Expensify has expanded its collaboration with Marqeta to bring its corporate card offering to the UK and EU. Building on their long-term relationship in the US, Expensify leveraged Marqeta's card issuing platform to deliver physical, virtual, and tokenized cards with real-time spend controls and data-rich insights to European businesses. The move addresses significant demand for modern expense solutions in the region and enables Expensify customers to access the same spend management capabilities that drove rapid growth in the US. Marqeta's multinational card issuing capabilities allow customers to scale their card programs with a single integration.