EU and US could reach trade deal this weekend - Reuters
Director Daniel Vidal of Expensify , Inc. (NASDAQ:EXFY), a $207 million market cap company currently trading at $2.23, sold 3,354 shares of Class A Common Stock on June 17 at a price of $2.28, totaling $7,647. According to InvestingPro analysis, the stock appears undervalued despite falling 37% over the past six months.
According to a Form 4 filing with the Securities and Exchange Commission, the sales were executed at a weighted average price between $2.23 and $2.32. The sale covered taxes for shares awarded under the Expensify, Inc. 2021 Stock Purchase and Matching Plan (SPMP) for certain employees of the Issuer. Following the transaction, Vidal directly owns 295,817 shares of Expensify Class A Common Stock. InvestingPro data shows the company maintains strong liquidity with a current ratio of 3.25, while analysts expect profitability this year.
On June 13, Vidal acquired 22,316 shares and 12,315 shares of Class A Common Stock for a total value of $51,103. The price range was between $0.0 and $2.29.
Additionally, on June 15, Vidal converted 2,826 Restricted Stock Units and 2,826 LT50 Common Stock into Class A Common Stock, and 2,826 LT50 Common Stock into Class A Common Stock. The price for these transactions was $0.
In other recent news, Expensify reported its Q1 2025 earnings, revealing a miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of -$0.03, falling short of the expected $0.07, and revenue came in at $36.1 million, slightly below the forecast of $36.36 million. Despite these misses, Expensify’s revenue showed an 8% year-over-year increase, and its free cash flow rose significantly by 75% year-over-year to $9.1 million. Expensify has also raised its annual free cash flow guidance to a range of $17–21 million, indicating confidence in its cash-generating capabilities.
In other developments, Expensify shareholders recently approved the election of eight board members and ratified KPMG LLP as the independent auditor for the fiscal year ending December 31, 2025. The board members, including David Barrett and Ellen Pao, received significant support from the stockholders. Additionally, the company has introduced simplified pricing for its Collect plan and expanded its product offerings with full Spanish support. These efforts aim to enhance customer adoption and streamline pricing communication.
Expensify is also investing in AI-driven product innovations and expects a positive impact from its Formula 1 movie marketing strategy in the coming quarters. The company has noted early signs of increased visibility and user engagement due to its promotional activities, though the full impact is anticipated to be more pronounced in Q3 2025. As Expensify navigates a challenging market environment, it continues to focus on diversifying its revenue streams beyond just paid memberships.
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