What is Expensify, Inc.'s EV / sales?

Expensify, Inc. (EXFY) reported EV / sales of 0.3× in Q4 2025.

How has Expensify, Inc.'s EV / sales changed year-over-year?

Expensify, Inc.'s EV / sales decreased by 82.8% year-over-year, from 1.5× to 0.3×.

What is the long-term trend for Expensify, Inc.'s EV / sales?

Over 4 years (2021 to 2025), Expensify, Inc.'s EV / sales has grown at a -67.9% compound annual growth rate (CAGR), from 24.2× to 0.3×.

What does EV / sales mean?

Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.

Expensify, Inc. EXFY EV / sales

EV / sales at other companies

Navan, Inc. NAVN

5.1×—

BILL HoldingsBILL

1.4×-0.9×

CorpayCPAY

5.8×-1.9×

WEXWEX

3.4×-0.6×

Priority Technology HoldingsPRTH

-0×-0.5×

BlackLineBL

2.8×-1.5×

Other financials

Income statement

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Revenue$34.0M-5.8%

Gross profit$16.2M-11.4%

Operating income-$2.0M-32.6%

Net income-$2.3M+26.3%

EPS (diluted)-$0.02+33.3%

Balance sheet

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Cash & equivalents$109.6M+13.8%

Total debt$678.0K-18.2%

Total equity$138.5M+2.9%

Total assets$190.6M+0.7%

Cash flow

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Operating cash flow$118.0K-98.5%

CapEx$182.0K+4.6%

Free cash flow-$64.0K-101%

Valuation

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Market cap$172.62M-24.4%

P/S1.2×-0.3×

Profitability

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Gross margin49.6%-2.8pp

Operating margin-13.2%—

Net margin-14.7%-86.5pp

FCF margin8.8%-11.0pp

Returns & leverage

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Return on equity-15.1%+177pp

Debt / equity0×0.0×

Current ratio3.5×+0.2×

Where this comes from

Calculated from Expensify, Inc.’s reported figures.

enterprise value/total revenue=0.3×

Based on the most recent quarter.

The official record: Expensify, Inc.’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Expensify, Inc.'s EV / sales?: Expensify, Inc. (EXFY) reported EV / sales of 0.3× in Q4 2025.
How has Expensify, Inc.'s EV / sales changed year-over-year?: Expensify, Inc.'s EV / sales decreased by 82.8% year-over-year, from 1.5× to 0.3×.
What is the long-term trend for Expensify, Inc.'s EV / sales?: Over 4 years (2021 to 2025), Expensify, Inc.'s EV / sales has grown at a -67.9% compound annual growth rate (CAGR), from 24.2× to 0.3×.
What does EV / sales mean?: Enterprise value at the quarter end divided by trailing-twelve-month revenue. A capital-structure-neutral revenue multiple, useful when earnings are negative.