Expensify Valuation Multiples

Expensify Overview

About Expensify

Expensify Inc is a cloud-based expense management software platform that helps various businesses simplify the way to manage money. It is used to scan and reimburse receipts from flights, hotels, coffee shops, office supplies and ride shares. People use Expensify's free features, which include corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay and travel booking in one app.

Founded

2009

HQ

Employees

115

Website

expensify.com

Sectors

Financial Management SoftwareB2B SaaSFinTechHorizontal SaaS

Financials (LTM)

Revenue: $140M

EBITDA: $18M

EV

$33M

Valuation Multiples

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Expensify Financials

Expensify reported last 12-month revenue of $140M and EBITDA of $18M.

In the same LTM period, Expensify generated $72M in gross profit, $18M in EBITDA, and had net loss of ($18M).

Expensify P&L

In the most recent fiscal year, Expensify reported revenue of $142M and EBITDA of $17M.

Expensify expects next 12-month revenue of XXX and NTM EBITDA of XXX

Expensify Stock Performance

Expensify has current market cap of $90M, and enterprise value of $33M.

Expensify's stock price is $0.89.

Expensify Valuation Multiples

Expensify trades at 0.2x EV/Revenue multiple, and 1.8x EV/EBITDA.

Expensify Financial Valuation Multiples

As of April 20, 2026, Expensify has market cap of $90M and EV of $33M.

Equity research analysts estimate Expensify's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Expensify has a P/E ratio of (5.1x).

Expensify Margins & Growth Rates

Expensify's revenue in the last 12 month declined by (4%).

Expensify's revenue per employee in the last FY averaged $1.2M, while opex per employee averaged $0.8M for the same period.

Expensify's rule of 40 is 12% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Expensify's rule of X is 5% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Expensify Public Comps

See public comps and valuation multiples for other Financial Management Software comps.

Expensify M&A Activity

Expensify acquired XXX companies to date.

Last acquisition by Expensify was on XXXXXXXX, XXXXX. Expensify acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Expensify Investment Activity

Expensify invested in XXX companies to date.

Expensify made its latest investment on XXXXXXXX, XXXXX. Expensify invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).