Monday, March 10, 2025
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Posted by: Sierra Lindemann
Expensify closed 2024 with a 76% reduction in net loss and a 199% year-over-year increase in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), reaching $39.4 million. The company reported a 44% rise in Expensify Card spend and fully paid off $22.7 million in debt. AI-powered automation played a key role in streamlining operations, reducing customer support escalations by 80% and cutting SmartScan processing costs by 75%.