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Expensify , Inc. (NASDAQ:EXFY), a software services company currently valued at $206 million, announced the results of its Annual Meeting of Stockholders held on June 13, 2025. According to InvestingPro data, while the company isn’t currently profitable, analysts expect positive earnings this year. The stockholders elected eight members to the company’s board of directors and ratified the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
The elected board members, who will serve until the 2026 annual meeting, are David Barrett, Ryan Schaffer, Anuradha Muralidharan, Jason Mills, Daniel Vidal, Timothy L. Christen, Ying (Vivian) Liu, and Ellen Pao. The voting results for the election of directors showed significant support for each nominee, with all receiving a substantial number of votes for their election compared to the number of votes withheld and broker non-votes. This leadership team will oversee a company that InvestingPro analysis shows maintains strong liquidity with a current ratio of 3.25 and holds more cash than debt on its balance sheet.
In addition to the election of directors, stockholders approved, on an advisory basis, the compensation of the company’s named executive officers. The proposal received a majority of votes in favor, with 454,429,843 votes for, 3,546,036 against, and 95,624 abstentions. The number of broker non-votes was 27,578,656.
The ratification of KPMG LLP as the company’s independent auditor passed with an overwhelming majority. The proposal received 485,592,553 votes for, 53,248 against, and 4,358 abstentions.
No other matters were submitted for stockholder action at the meeting. The results indicate a strong endorsement of the company’s current leadership and financial oversight practices by its shareholders. With an expected revenue growth of 6% for FY2025 and a projected EPS of $0.22, InvestingPro analysis suggests the company is currently undervalued, with 12 additional exclusive insights available to subscribers.
This press release statement is based on information contained in the SEC filing by Expensify, Inc.
In other recent news, Expensify Inc. reported its Q1 2025 earnings, missing both earnings per share (EPS) and revenue forecasts. The company recorded an EPS of -$0.03, which was below the expected $0.07, and revenue of $36.1 million, slightly under the forecast of $36.36 million. Despite these misses, Expensify’s revenue showed an 8% year-over-year increase, and free cash flow rose significantly by 75% year-over-year, reaching $9.1 million. The company also increased its annual free cash flow guidance to a range of $17–21 million. Additionally, Expensify is optimistic about its AI-driven product innovations and expects a positive impact from its Formula 1 movie marketing strategy in the upcoming quarters. The company reported a decrease in the average number of paid members by 5% compared to the previous year. Analysts from Citi and Citizens GMP raised questions about the company’s resilience in the current economic climate and the potential impact of tariffs on its customer base. Expensify’s executives expressed confidence in their diversified revenue streams and ongoing innovations to navigate the challenging market environment.
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