Expensify vs Firy
Expensify is the larger business, with $142m of revenue in fiscal 2025 against $104m for Firy (1.4 times as much). Firy grew faster (12.5% against 2.1%). Expensify kept more of each dollar of sales as profit: a net margin of -15.1% against -67.4%.
| Latest fiscal year | ExpensifyEXFY, 2025 | FiryFIRY, 2025 |
|---|---|---|
| Revenue | $142m | $104m |
| Revenue growth | 2.1% | 12.5% |
| Net income | −$21.4m | −$70.4m |
| Operating margin | -12.7% | — |
| Net margin | -15.1% | -67.4% |
| Return on equity | -16.4% | -49.4% |
| Free cash flow | $20.1m | −$70.3m |
| Cash | $63.1m | $195m |
| Total debt | $0 | $130m |
| Debt to equity | 0.0% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $9.1m | $9.3m |
| Employees | 117 | — |
| Market value | $219m | $197m |
| Price vs our value range | — | — |
| Moat score | 32 (Weak) | 21 (Weak) |
| Insider trades, 12 months | 6 buys, 34 sales | 0 buys, 0 sales |