Expensify vs Lucas GC
Expensify and Lucas GC are similar in size: $142m and $145m of revenue in their latest fiscal years. Expensify grew faster (2.1% against -1.9%). Lucas GC kept more of each dollar of sales as profit: a net margin of 0.9% against -15.1%. Expensify carries less debt relative to equity (0.0% against 30.5%).
| Latest fiscal year | ExpensifyEXFY, 2025 | Lucas GCLGCL, 2025 |
|---|---|---|
| Revenue | $142m | $145m |
| Revenue growth | 2.1% | -1.9% |
| Net income | −$21.4m | $1.4m |
| Operating margin | -12.7% | 1.9% |
| Net margin | -15.1% | 0.9% |
| Return on equity | -16.4% | 3.4% |
| Free cash flow | $20.1m | −$6.6m |
| Cash | $63.1m | $4.3m |
| Total debt | $0 | $13.6m |
| Debt to equity | 0.0% | 30.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $9.1m | — |
| Employees | 117 | — |
| Market value | $219m | $3.1m |
| Price vs our value range | — | — |
| Moat score | 32 (Weak) | — |
| Insider trades, 12 months | 6 buys, 34 sales | 0 buys, 1 sales |