Expensify Announces Q3 2026 Results

David Barrett, Founder and CEO of Expensify

“Another strong quarter, both in financial results, as well as product functionality shipped: Cash flow remains strong. Q3 produced $4.0 million in Operating Cash Flow, up 510% from last year, and $3.3 million in Free Cash Flow, up 170% from last year. Some of this was used to repurchase 722,121 shares of Class A common stock, returning approximately $1.3 million to shareholders. Based on this continued strength we've increased FY 2026 FCF guidance by $1.5 million to $13.5 million - $15.5 million. New Expensify continues to grow and improve. Revenue from New Expensify increased 30% from Q2, and is up 212% y/y. This growth comes in part from major feature launches, such as dozens of new GL and HR integrations, as well as quality-of-life crowd pleasers like enhanced admin roles and bulk workspace management. But much of it comes from paying particular attention to micro-optimizations along the conversion pipeline, which has increased cohort conversion by 67% y/y. Expensify Card continues to expand. We now issue in the UK and 12 EU countries for GBP and EUR bank accounts, with enhanced PIN/biometric controls, one-time/date-bound virtual cards, and more real-time spend controls by currency, max amount, and merchant. Expensify Travel economics continue to improve. Our new consolidated travel billing feature enables customers to in effect finance their travel bookings to receive a single monthly debit from their bank account, resulting in substantially more revenue to Expensify from each travel booking. Explosive adoption of AI features. New MCP connections doubled last month, and are still accelerating. This is strong everywhere, but especially in Claude, in part due Expensify to being selected for the Claude for Small Business bundle. Our custom agent beta has been adopted by thousands of customers, and is able to handle over 96% of real world requests received — out of an infinite range of potential requests. As we outlined last quarter, Expensify Classic is a stable cash-flow engine whose customer base naturally declines over time, while New Expensify is our growth engine. That growth engine is taking on a massive, largely untapped market. As we enter the final stretch of 2026, I'm extremely proud of what we accomplished, and cannot wait to reveal what we've got in store for 2027.”