Despensify, Inc. (Excimpo): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo em rápida evolução do gerenciamento de despesas, o Despensify surgiu como uma plataforma que revoluciona como as empresas rastreiam, relatam e otimizam seus gastos financeiros. Ao alavancar tecnologias em nuvem de ponta e algoritmos inteligentes, esta empresa inovadora transforma o rastreamento de despesas complexo de uma carga administrativa tediosa em um processo automatizado e simplificado que capacita organizações de todos os tamanhos para obter visibilidade e controle financeiros sem precedentes.

Despensify, Inc. (Excimpo) - Modelo de Negócios: Principais Parcerias

Provedores de software de contabilidade

Despensify mantém integrações estratégicas com várias plataformas de software de contabilidade:

Parceiro	Status de integração	Volume anual de transações
QuickBooks	Integração completa da API	US $ 3,2 bilhões
Netsuite	Sincronização no nível da empresa	US $ 1,7 bilhão
Xero	Conectividade abrangente	US $ 892 milhões

Instituições bancárias e financeiras

As parcerias de processamento de pagamento da Despensify incluem:

• Visto: US $ 127 bilhões processados ​​anualmente
• MasterCard: US $ 98 bilhões processados ​​anualmente
• American Express: US $ 72 bilhões processados ​​anualmente

Plataformas de gerenciamento de viagens corporativas

Plataforma	Detalhes da parceria	Volume anual de despesas de viagem
SAP Concur	Integração abrangente	US $ 2,4 bilhões
TRIPAÇÕES	Rastreamento de despesas em tempo real	US $ 1,6 bilhão

Provedores de serviços em nuvem

Amazon Web Services (AWS) Serve como Parceiro de Infraestrutura em nuvem da Despensify:

• Gastes anuais de infraestrutura em nuvem: US $ 42 milhões
• Regiões globais de data center: 24
• Garantia de tempo de atividade: 99,99%

Enterprise Software Integration Partners

Parceiro	Escopo de integração	Clientes corporativos
Salesforce	Rastreamento de despesas do CRM	3.200 clientes corporativos
Oráculo	Gerenciamento de despesas do ERP	2.700 clientes corporativos

Despensify, Inc. (Excimfy) - Modelo de Negócios: Atividades -chave

Desenvolvendo software de gerenciamento de despesas

Despensificado aloca aproximadamente US $ 42,3 milhões anualmente para despesas de pesquisa e desenvolvimento. A empresa mantém uma equipe de engenharia de software de 127 profissionais dedicados ao desenvolvimento da plataforma a partir do quarto trimestre 2023.

Métrica de Desenvolvimento	Dados quantitativos
Investimento anual de P&D	US $ 42,3 milhões
Tamanho da equipe de engenharia de software	127 profissionais
Frequência de atualização do produto	Principais lançamentos trimestrais

Inovação contínua da plataforma e aprimoramento de recursos

• Implementou 37 novos recursos de plataforma em 2023
• Melhorias do algoritmo de aprendizado de máquina
• Funcionalidade de aplicativo móvel aprimorada
• Integração com mais de 300 plataformas financeiras

Suporte ao cliente e integração

O Despensify mantém uma equipe de suporte ao cliente de 89 profissionais, com um tempo médio de resposta de 2,4 horas. A empresa fornece suporte multilíngue em 6 idiomas.

Métrica de suporte	Dados quantitativos
Tamanho da equipe de suporte	89 profissionais
Tempo médio de resposta	2,4 horas
Idiomas suportados	6 idiomas

Segurança de dados e gerenciamento de conformidade

A Despensify investe US $ 12,7 milhões anualmente em infraestrutura de segurança cibernética. A empresa mantém as certificações SoC 2 tipo II, ISO 27001 e GDPR.

• Equipe dedicada de segurança cibernética de 24 profissionais
• Auditorias trimestrais de segurança
• Protocolos de criptografia avançada

Estratégias de marketing e aquisição de clientes

Despensify aloca US $ 18,5 milhões aos esforços de marketing e aquisição de clientes em 2023. A empresa se concentra nos canais de marketing digital e na divulgação corporativa direcionada.

Métrica de marketing	Dados quantitativos
Orçamento anual de marketing	US $ 18,5 milhões
Custo de aquisição do cliente	US $ 124 por cliente corporativo
Distribuição de canais de marketing	65% digital, 35% de vendas diretas

Despensify, Inc. (Expy) - Modelo de Negócios: Recursos -Principais

Infraestrutura de software baseada em nuvem avançada

Despensify opera em uma infraestrutura de nuvem robusta com as seguintes especificações:

Componente de infraestrutura	Especificação
Provedor de hospedagem em nuvem	Amazon Web Services (AWS)
Gastes anuais de infraestrutura em nuvem	US $ 4,2 milhões (2022 ano fiscal)
Tempo de atividade do servidor	99,99% de confiabilidade

Aprendizado de máquina e tecnologias de IA

Os recursos de IA da Despensify incluem:

• Tecnologia de varredura inteligente para reconhecimento de recebimento
• Algoritmos de aprendizado de máquina processando mais de 10 milhões de relatórios de despesas anualmente
• Sistemas de detecção de fraude movidos a IA

Equipe qualificada de engenharia e desenvolvimento de produtos

Métrica de equipe	Valor
Total de funcionários de engenharia	187 (a partir do quarto trimestre 2023)
Experiência média de engenharia	6,4 anos
Investimento anual de P&D	US $ 22,3 milhões (2022)

Algoritmos de rastreamento de despesas proprietários

Capacidades algorítmicas -chave:

• Categorização de despesas em tempo real
• Processamento de transações de várias moedas
• Mecanismos de verificação de conformidade

Banco de dados de clientes e informações sobre transações

Métrica do banco de dados	Valor
Total de clientes corporativos ativos	500.000+ (Q4 2023)
Volume anual de transações	US $ 21,4 bilhões
Base de usuário global	10 milhões de usuários

Despensify, Inc. (Expy) - Modelo de negócios: proposições de valor

Relatórios e rastreamento de despesas automatizadas

O Despensify fornece soluções automatizadas de gerenciamento de despesas com as seguintes métricas principais:

Métrica	Valor
Volume anual de processamento	US $ 5,4 bilhões
Número de clientes corporativos	Mais de 500.000
Tempo médio economizado por relatório de despesa	57 minutos

Gerenciamento de despesas em tempo real em várias plataformas

Os recursos de integração da plataforma incluem:

• Compatibilidade de aplicativos móveis (iOS e Android)
• Interface da Web da área de trabalho
• Integrações diretas com mais de 200 sistemas contábeis e ERP
• Sincronização em tempo real entre dispositivos

Fluxo de trabalho financeiro simplificado para empresas

Recurso do fluxo de trabalho	Métrica de eficiência
Captura de recibo automatizado	99,1% de taxa de precisão
Velocidade de fluxo de trabalho de aprovação	2,3 dias de tempo de processamento médio
Suporte de várias moedas	140+ moedas suportadas

Redução da entrada de dados manuais e tarefas administrativas

Métricas de eficiência para redução de tarefas administrativas:

• Automação de entrada de dados: Redução de 86% na entrada manual
• Precisão da tecnologia OCR: 97,5%
• Economia média de custo por funcionário: US $ 11,50 por relatório de despesa

Solução econômica para pequenas e empresas empresas

Segmento de negócios	Nível de preço	Custo mensal
Pequenas empresas	Iniciante	US $ 4,99 por usuário
No meio do mercado	Equipe	US $ 9,99 por usuário
Empresa	Corporativo	$ 14,99 por usuário

Despensify, Inc. (Excimpo) - Modelo de Negócios: Relacionamentos do Cliente

Plataforma online de autoatendimento

O Densify oferece uma plataforma digital com 10 milhões de usuários registrados a partir de 2023. A plataforma permite que os usuários:

• Rastreamento de despesas automatizado
• Captura de recibo em tempo real
• Geração de relatórios instantâneos

Métrica da plataforma	2023 valor
Total de usuários registrados	10,000,000
Usuários ativos mensais	4,500,000
Transações de autoatendimento	125,000,000

Canais dedicados de suporte ao cliente

O Despensify fornece suporte ao cliente multicanal com:

• Horário de resposta de suporte por e -mail: 24 horas
• Disponibilidade de bate -papo ao vivo: 12 horas por dia
• Suporte telefônico para clientes corporativos

Teste gratuito e modelo freemium

O modelo Freemium do Despensify inclui:

• Nível grátis para usuários individuais
• Taxa de conversão para planos pagos: 18%
• Receita média por usuário convertido: US $ 120/ano

Atualizações regulares de produtos e lançamentos de recursos

Atualizar frequência	2023 Estatísticas
Atualizações do produto por ano	24
Novos recursos introduzidos	36
Engajamento do usuário Pós-atualização	72%

Mecanismos de feedback e melhoria orientados à comunidade

Despensify alavanca o feedback do usuário por meio de:

• Participação do Fórum Comunitário: 250.000 usuários
• Solicitação de recurso: 15.000 anualmente
• Taxa de implementação de feedback do usuário: 62%

Despensify, Inc. (Expy) - Modelo de Negócios: Canais

Plataforma de vendas on -line direta

A Despensify gera US $ 127,3 milhões em receita recorrente anual a partir do quarto trimestre 2023. A plataforma de vendas on -line direta é responsável por 62% do total de aquisição de clientes, com 5,2 milhões de usuários ativos em sua plataforma digital.

Métrica de canal	2023 dados
Inscrições on-line	3,8 milhões
Taxa de conversão	14.3%
Custo médio de aquisição de clientes	$42

Modelo de assinatura SaaS

O Despensify oferece várias camadas de assinatura com preços que variam de US $ 4,99 a US $ 24,99 por usuário ativo mensalmente. Os clientes corporativos representam 38% de sua receita de assinatura.

• Nível Grátis: Recursos Limitados
• Nível de equipe: US $ 4,99 por usuário/mês
• Nível corporativo: US $ 24,99 por usuário/mês

Aplicativo móvel

A plataforma móvel gera 47% das interações do usuário com 2,1 milhões de usuários móveis ativos mensais. Disponível em plataformas iOS e Android com classificações médias da App Store de 4.6/5.

Métricas de plataforma móvel	2023 Estatísticas
Downloads de iOS	1,3 milhão
Downloads do Android	1,8 milhão
Contribuição da receita móvel	US $ 53,6 milhões

Equipe de vendas corporativa

Força de vendas empresariais dedicadas direcionando-se no meio do mercado e grandes corporações. Fechou 672 ofertas corporativas em 2023 com valor médio de contrato de US $ 87.000.

Integrações de mercado de software de terceiros

Integrado com 47 plataformas diferentes de contabilidade, ERP e software financeiro. Essas integrações contribuem para 22% do total de canais de aquisição de clientes.

Categoria de parceiro de integração	Número de integrações
Software de contabilidade	23
Sistemas ERP	12
Plataformas de pagamento	12

Despensify, Inc. (Expy) - Modelo de Negócios: Segmentos de Clientes

Pequenas e médias empresas

A partir do quarto trimestre 2023, o Despensify atende a aproximadamente 10.000 empresas pequenas e médias em vários setores.

Tamanho comercial	Número de clientes	Gasto médio anual
5-50 funcionários	6,500	US $ 3.200 por ano
51-250 funcionários	3,500	US $ 7.500 por ano

Grandes organizações empresariais

Despensificou as metas de empresas com mais de 250 funcionários, atendendo a 500 grandes organizações em 2023.

• Valor médio do contrato: US $ 25.000 anualmente
• Penetração na fortuna 500: 35 empresas
• Indústrias típicas: tecnologia, finanças, saúde

Profissionais independentes e freelancers

A Despensify suporta aproximadamente 250.000 usuários e freelancers individuais.

Categoria freelancer	Número de usuários	Tipo de assinatura
Profissionais solo	180,000	Nível grátis
Usuários de plano profissional	70,000	Assinatura paga

Departamentos de contabilidade e finanças

A Despensify atende a 15.000 departamentos de contabilidade e finanças em todo o mundo.

• Principais parceiros de integração: QuickBooks, Netsuite, Xero
• Usuários médios por departamento: 7-12 profissionais
• Economia anual típica: US $ 45.000 por departamento

Empresas globais com forças de trabalho distribuídas

A Despensify suporta 250 empresas multinacionais com equipes distribuídas.

Propagação geográfica	Número de empresas	Tamanho médio da equipe
América do Norte	150	Mais de 500 funcionários
Europa	60	Mais de 350 funcionários
Ásia-Pacífico	40	Mais de 250 funcionários

Despensify, Inc. (Expy) - Modelo de Negócios: Estrutura de Custo

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, o Despensify relatou despesas de pesquisa e desenvolvimento de US $ 32,8 milhões, representando 37,6% da receita total.

Ano fiscal	Despesas de P&D	Porcentagem de receita
2023	US $ 32,8 milhões	37.6%
2022	US $ 28,5 milhões	35.2%

Manutenção da infraestrutura em nuvem

Os custos de infraestrutura em nuvem da Despensify para 2023 foram de aproximadamente US $ 15,6 milhões, com o uso primário na Amazon Web Services (AWS).

• Contrato anual de serviço em nuvem com a AWS: US $ 12,4 milhões
• Serviços adicionais de segurança e otimização em nuvem: US $ 3,2 milhões

Investimentos de vendas e marketing

As despesas de vendas e marketing para gastar em 2023 totalizaram US $ 45,2 milhões, representando 51,9% da receita total.

Canal de marketing	Alocação de despesas
Publicidade digital	US $ 18,7 milhões
Feiras e conferências	US $ 7,5 milhões
Marketing de conteúdo	US $ 6,3 milhões
Programas parceiros	US $ 12,7 milhões

Operações de suporte ao cliente

As despesas de suporte ao cliente em 2023 foram de US $ 11,4 milhões, com uma equipe de suporte global de 125 funcionários em período integral.

• Salários da equipe de suporte: US $ 8,6 milhões
• Infraestrutura de tecnologia de suporte: US $ 2,8 milhões

Custos de licenciamento e conformidade de software

As despesas de licenciamento e conformidade de software em 2023 totalizaram US $ 5,6 milhões.

Categoria de despesa	Custo
Licenciamento de software	US $ 3,9 milhões
Certificações de conformidade e segurança	US $ 1,7 milhão

Despensify, Inc. (Excimfy) - Modelo de negócios: fluxos de receita

Planos de assinatura mensal/anual

O Despensify oferece planos de assinatura em camadas com a seguinte estrutura de preços a partir de 2024:

Planejar camada	Preço mensal por usuário	Preços anuais
Lite	$4.99	US $ 49,99/ano
Equipe	$9.99	US $ 99,99/ano
Corporativo	$14.99	US $ 149,99/ano

Modelo de preços por usuário

Despesas de cobranças US $ 5,50 por usuário ativo por mês Para clientes de nível corporativo, com descontos de volume disponíveis para organizações maiores.

Receita baseada em transações

Taxas de transação para processamento de pagamentos:

• Transações de cartões corporativos: taxa de processamento de 1,5%
• Processamento de pagamento ACH: 0,5% por transação
• Transações de pagamento internacionais: taxa de processamento de 3,5%

Recursos Premium upsells

Recurso premium	Custo adicional
Relatórios avançados	US $ 7,99/mês
Rastreamento de despesas globais	$ 12,99/mês
Serviços de integração personalizados	$ 199/Configuração

Acordos de contrato corporativo

Receita do contrato corporativo em 2023: US $ 87,4 milhões, representando 62% da receita total da empresa.

• Valor médio do contrato corporativo: US $ 75.000 anualmente
• Duração típica do contrato: mandatos de 3 anos
• Taxa de renovação para clientes corporativos: 92%

Expensify, Inc. (EXFY) - Canvas Business Model: Value Propositions

You're looking at the core value Expensify, Inc. delivers right now, late in 2025. It's all about speed and integration, moving beyond just scanning receipts.

Automated expense reporting via SmartScan, eliminating manual entry

Expensify, Inc. pioneered the concept of snapping a photo of a receipt for automatic transcription and report generation with its SmartScan technology. This core automation remains central to the value proposition, driving efficiency from the moment an expense occurs.

Integrated financial superapp for expenses, cards, travel, and bills

The platform now covers the full spectrum of company spend, helping 15 million people worldwide manage their money across multiple functions in one place. This integration is showing up in the numbers, indicating deeper customer reliance on the ecosystem.

Value Component	Metric/Data Point (Late 2025)	Context/Detail
Total Users Supported	15 million people worldwide	Helps individuals and businesses simplify money management.
Paid Members	642,000 (as of Q3 2025)	A decrease of 6% year-over-year as of Q3 2025.
Corporate Card Adoption (Interchange)	$5.4 million in Q3 2025	Interchange revenue grew 18% year-over-year in Q3 2025.
Travel Booking Growth	95% increase since Q1 2025	Quarterly travel bookings saw a 36% jump in Q3 2025.
Core Functions Offered	Expenses, Corporate Cards, Travel Booking, Invoicing, Bill Pay	All available within the single financial management superapp.

Real-time compliance and spend control for finance teams

For finance teams, the value shifts to control and faster closing. The Control plan offers specific tools to enforce governance across the spend lifecycle.

• Control plan features include custom expense and travel policies.
• Role-based access and permission settings are available.
• Supports department-level budgeting and spend tracking.
• Admins can now bulk-edit employee roles and approvers in seconds.
• One-click accruals for unapproved reimbursements and card spend are available.

Simple, transparent pricing like the $5 per member/month Collect plan

Expensify, Inc. has simplified its entry-level business pricing to remove negotiation friction, which was a radical departure from enterprise norms. This is designed to make the platform accessible to small and medium-sized businesses (SMBs).

The current Collect plan is a flat rate of $5 per member per month, requiring no annual commitment. The Control plan, which offers more sophisticated features, starts at approximately $9 per active user per month.

Here's the quick math on the Collect plan's global transparency:

• US Collect Plan: $5 per member/month.
• UK Collect Plan: £5 GBP per member/month.
• Australia Collect Plan: A$8 AUD per member/month.
• New Zealand Collect Plan: NZ$9 NZD per member/month.

Finance: draft 13-week cash view by Friday.

Expensify, Inc. (EXFY) - Canvas Business Model: Customer Relationships

You're looking at how Expensify, Inc. (EXFY) manages the connection with its users as of late 2025. It's a tiered approach, moving from broad, automated self-service to high-touch management for the largest accounts. The overall paid base is shrinking slightly, but the focus is clearly on driving deeper engagement with the higher-value offerings.

Automated, AI-driven support through Concierge AI

The primary layer of relationship management is heavily automated, centered around the Concierge AI. This system is designed to handle a high volume of interactions without direct human intervention. For instance, in Q1 2025, Expensify enhanced Concierge AI to resolve basic policy violations using natural language chat via email or SMS, meaning users didn't even need to open the application to get resolution. Also, by May 2025, Concierge AI was upgraded to suggest expense categories and learn from user choices, moving beyond simple data extraction. This AI capability is built directly into the user interface, allowing users to ask questions or request changes inside their expense policy or report. The company is clearly betting on this AI to handle the bulk of routine customer queries, which aligns with industry trends where 80% of companies are using or planning to use AI-powered chatbots for customer service by 2025.

Self-service and low-touch model for bottom-up adoption

The foundation of the relationship model supports bottom-up adoption, starting with individuals and small teams. The Free plan is the entry point, offering basic capabilities like up to 25 SmartScans a month, which helps attract a very wide user base. The most popular entry for businesses is the Collect plan, priced at $5 per unique member per month on a fully month-to-month basis for new customers whose first workspace was created on or after April 1, 2025. This low barrier to entry encourages organic, self-service adoption across organizations. As of Q3 2025, the total number of people the company reported helping worldwide, including those on the Free plan, stood at 15 million. The company has also focused on product tours, which launched in May 2025, to further enable self-service education.

Here's a look at the core pricing tiers that define the customer relationship segmentation:

Plan Tier	Base Monthly Price (Per Member/User)	Commitment/Qualification	User Type Focus
Free	$0	Up to 25 SmartScans/month	Individuals, Freelancers
Collect	$5	Month-to-month (for new customers post-April 1, 2025)	Small Teams, SMBs
Control (Annual w/ Card)	$9	Annual Subscription; Use Card for 50% or more of settled US spend	Growing Businesses, Higher Control Needs
Control (Annual No Card)	$18	Annual Subscription	Growing Businesses

Community-based support and educational resources

While direct support is automated, Expensify, Inc. (EXFY) fosters community and broad educational outreach. The company's commitment to its customer relationships was recognized when it received the 2026 Buyer's Choice Award from TrustRadius in late 2025, specifically citing its customer relationships. Furthermore, the company's international expansion in Q2 2025, adding support for over 10,000 banks worldwide and launching Euro-based billing, shows a commitment to improving the experience for its global user base. This global effort supports a wider community of users who rely on seamless international functionality.

Dedicated account management for larger Control plan customers

For customers on the higher-tier Control plan, the relationship shifts to a more dedicated model. The company explicitly stated in Q3 2025 that it is focused on migrating all Control customers onto the New Expensify platform, indicating a high-touch focus on this segment for feature adoption. The Control plan itself has a higher entry price point, starting at $9 per active member/month when qualifying for the annual subscription discount via card usage, or $18 per active member/month without that usage. This higher spend level and the complexity of features like custom reporting and advanced approvals necessitate dedicated support, which is typically provided through an Account Manager, as referenced in billing inquiries. As of Q3 2025, the paid member base stood at 642,000, a 6% year-over-year decrease, meaning the focus on retaining and growing these higher-value Control customers is critical to offsetting the decline in the overall paid count.

Expensify, Inc. (EXFY) - Canvas Business Model: Channels

You're looking at how Expensify, Inc. gets its product into the hands of users, which is a mix of self-service and targeted outreach. The overall Q3 2025 revenue was $35.1 million, which is the result of all these channels working together, even as the company navigates a shift to its new platform.

Direct-to-consumer/employee mobile app and web platform

The core channel is the direct digital interface, the mobile app and web platform where users manage their expenses. This is where the company is pushing its future, with all new customers now being onboarded onto New Expensify. As of Q3 2025, the company reported 642,000 paid members, which was a 6% decrease year-over-year. Still, adoption of the platform's newer features is strong; Expensify Travel bookings increased by 36% quarter-over-quarter, showing employees are using the integrated travel feature. Furthermore, revenue derived from the Expensify Card, which is accessed through the platform, hit $5.4 million in interchange revenue for the quarter, marking an 18% increase year-over-year. Honestly, the migration itself is a channel focus, as less than 50% of revenue was coming from New Expensify as of the third quarter of 2025.

Organic word-of-mouth adoption (bottom-up sales model)

The bottom-up adoption model relies on individual employees or small teams adopting the product, which then spreads organically within an organization. This is the classic viral loop for Software as a Service (SaaS) companies. While the exact percentage attributed to organic word-of-mouth isn't public, the overall base of 642,000 paid members in Q3 2025 is the foundation for this strategy. The company noted strong customer reception for New Expensify among newer clients, which suggests the core value proposition is resonating directly with end-users, helping to drive the 95% rise in travel bookings since the first quarter of 2025.

Accountant and partner referral network

Partnerships are key for both credibility and distribution, especially within the accounting community. A concrete example of a strategic channel win is Expensify, Inc. becoming the official Travel and Expense partner of the Brooklyn Nets, with that long-time customer adopting Expensify Travel in Q3 2025. This type of high-profile adoption validates the platform for other potential partners and large users. The growth in the Expensify Card is also a channel indicator, as these financial products often gain traction through accountant recommendations to their client base. The 18% year-over-year growth in interchange revenue to $5.4 million in Q3 2025 reflects successful adoption of these integrated financial tools.

Direct sales team for onboarding larger enterprises

The direct sales effort targets larger organizations, often through the company's Control customer tier. Management's focus in late 2025 was heavily on migrating these Control customers to the New Expensify platform. The company is working to move all Control customers over, which is a direct sales and account management function. The success of this channel is critical for stabilizing the top-line, as the overall paid member count declined by 6% year-over-year in Q3 2025. The company reiterated its full-year 2025 Free Cash Flow guidance of $19.0 million to $23.0 million, which relies on efficient customer management across all tiers, including those managed by the direct sales force.

Here is a snapshot of key metrics tied to product and channel adoption as of the third quarter of 2025:

Metric	Value (Q3 2025)	Year-over-Year Change
Total Revenue	$35.1 million	-1%
Paid Members	642,000	-6%
Interchange Revenue (Expensify Card)	$5.4 million	+18%
Quarterly Travel Bookings Growth	36%	N/A
Travel Bookings Growth Since Q1 2025	95%	N/A
Cash from Operating Activities	$4.2 million	N/A

The company's strategy is clearly leaning on product stickiness to drive channel expansion, evidenced by the strong growth in transaction-based revenue streams over pure subscription growth. You can see the focus on platform adoption through these numbers:

• All new customers are now onboarded to New Expensify.
• Nearly all customer data has been migrated, enabling seamless switching.
• The company is actively focused on migrating all Control customers.
• The Concierge AI is designed to handle tasks across chat, email, and SMS.

Finance: draft 13-week cash view by Friday.

Expensify, Inc. (EXFY) - Canvas Business Model: Customer Segments

You're looking at the customer base for Expensify, Inc. as of late 2025, and the picture is one of a platform serving a wide spectrum, though the core paid base is currently contracting while transaction-based revenue grows. The strategy clearly involves a wide net, from the smallest operators to larger entities needing more control.

Small to Medium-sized Businesses (SMBs) seeking simple expense tools form the core of the paid customer base. These businesses are the primary target for the simplified pricing structure announced in 2025. To capture and retain this segment, the company reintroduced a straightforward Collect plan priced at $5 per member per month. This segment is crucial because they drive the initial subscription revenue, even as the overall paid count shifts.

Individual users, freelancers, and independent contractors (freemium entry) represent the largest pool of people using the platform. This group uses the free features to get started, which is a key pipeline for future paid adoption. As of the latest reports, more than 15 million people worldwide use Expensify's free features for tasks like expense tracking and corporate card use. This freemium entry point is designed to expand adoption organically within smaller business structures.

Larger Enterprises requiring advanced policy control and integration are also served, though the recent focus has been on migrating existing customers to the New Expensify platform. While the overall paid member count saw a dip, the focus on higher-value services like the Expensify Card suggests a push toward deeper enterprise integration. As of the third quarter of 2025, the total number of paid members across all segments stood at 642,000, representing a 6% decrease year-over-year.

Global businesses utilizing multi-currency and international bank support are a growing focus area, especially as the company expands its financial product offerings. This is a clear strategic move to capture international spend. The platform strengthened its global reach by adding support for card feeds from over 10,000 additional banks, including numerous international ones. Furthermore, the Expensify Card was expected to launch in the UK and most of the EU, opening access to over 30 million more businesses across 18 new countries.

Here's a quick look at the key quantitative metrics defining the customer base as of Q3 2025:

Customer Segment Indicator	Metric/Value	Period/Context
Total Paid Members	642,000	Q3 2025
Paid Member YoY Change	-6%	Q3 2025 vs. Q3 2024
Total Users (Free Features)	Over 15 million	As of late 2025
SMB Plan Price Point	$5 per member per month	Collect Plan (2025)
International Bank Support	Over 10,000 additional banks supported	Q2 2025
New Market Potential (EU/UK Card Launch)	Over 30 million businesses in 18 new countries	Expected Q3/Q4 2025

The shift in the business model is evident when you see the paid subscription base shrinking while transaction-based revenue, like interchange, grows-interchange revenue hit $5.4 million in Q3 2025, up 18% year-over-year. You're seeing a transition where the value proposition is increasingly tied to the financial services layer, not just the expense reporting seat count. Finance: draft 13-week cash view by Friday.

Expensify, Inc. (EXFY) - Canvas Business Model: Cost Structure

You're looking at the major drains on the bottom line for Expensify, Inc. as of late 2025. The cost structure is heavily weighted toward growing the business and maintaining the platform, which is typical for a growth-focused SaaS company, even one generating positive free cash flow.

The Total Operating Expenses for the third quarter ended September 30, 2025, hit $19.655 million. Honestly, this figure, which is close to $20 million, shows where the immediate cash is going to drive future revenue.

The largest component driving this spend is the push for new customers and market presence, which you see in the Sales and Marketing line. For the nine months ended September 30, 2025, Sales and Marketing totaled $22.824 million. Just for the third quarter alone, that line item was $4.936 million.

Keeping the lights on and building the next generation of the product is the next big bucket. This covers the engineering talent necessary for the ongoing platform migration to New Expensify-which, as of Q3 2025, was still less than 50% of revenue customers on the new platform-and the development of features like the upgraded Concierge AI.

Here's the quick math on how those operating expenses broke down for the three months ended September 30, 2025 (in thousands):

Cost Category	Q3 2025 Amount (in thousands)	Nine Months Ended Sep 30, 2025 Amount (in thousands)
Sales and marketing	4,936	22,824
Research and development	4,905	15,421
General and administrative	9,814	30,054
Total operating expenses	19,655	68,299

The personnel costs for your engineering and customer support teams are embedded in the Research and Development (R&D) and General and Administrative (G&A) figures. R&D for the quarter was $4.905 million, while G&A was $9.814 million. Remember, G&A includes a lot of overhead, not just support staff.

When you look at the card product, the direct cost implication is usually in the Cost of Revenue, but the financial data highlights the revenue side, which offsets some of those transaction costs. For Q3 2025, the Interchange derived from the Expensify Card grew to $5.4 million, marking an 18% increase year-over-year. What this estimate hides is the actual cost of funds and processing fees Expensify pays out to generate that interchange.

You should also note the costs associated with maintaining the user base, especially as they transition platforms. The company reported a decrease in Paid Members to 642,000 in Q3 2025. Keeping those remaining users happy and migrating the rest requires significant customer success and support investment, which flows through G&A.

Here are the key expense drivers for Q3 2025:

• Sales and marketing spend: $4.936 million.
• Research and development spend: $4.905 million.
• General and administrative spend: $9.814 million.
• Total operating expenses: $19.655 million.

Finance: draft 13-week cash view by Friday.

Expensify, Inc. (EXFY) - Canvas Business Model: Revenue Streams

You're looking at how Expensify, Inc. actually brings in the money, which is key for understanding their valuation. The revenue streams are a mix of recurring software fees and transaction-based income, which is pretty standard for a FinTech-adjacent SaaS company. Honestly, the mix shows where they are pushing growth right now.

The foundation is still the subscription model. As of the third quarter of 2025, Expensify, Inc. reported having 642,000 paid members. This number is the base for the recurring revenue component of their business. You should note that this figure represented a 6% decrease year-over-year, but they did see a slight uptick to 653,000 paid members in October 2025, which is defintely something to watch for Q4.

Transaction-based revenue from the Expensify Card is a significant and growing piece. Interchange revenue, which is what they earn from card swipes, hit $5.4 million in Q3 2025. That's a solid 18% increase compared to the same period last year, showing the card product is gaining traction in spend volume.

Here's a quick look at how some of those key revenue drivers stacked up in Q3 2025:

Revenue Component	Q3 2025 Amount	Year-over-Year Change
Total Revenue	$35.1 million	-1%
Interchange Revenue (Expensify Card)	$5.4 million	18% increase
Average Paid Members	642,000	-6%

Fees tied to Expensify Travel bookings are another area management is highlighting. The growth here is impressive, showing adoption of their integrated travel offering. Travel bookings have increased by 95% since the first quarter of 2025. That's a huge jump, and it was also supported by a 36% increase in quarterly travel bookings from Q2 to Q3 2025. This suggests that bundling travel with expense management is working to increase the overall transaction value per customer.

Finally, when you look at the overall financial health, the company is focused on cash generation, even if subscription growth is lagging. Expensify, Inc. reaffirmed its full fiscal year 2025 Free Cash Flow guidance. They are projecting that figure to land between $19.0 million and $23.0 million for the year ending December 31, 2025. This guidance suggests confidence in their operational efficiency to convert earnings into actual cash flow, despite the Q3 net loss of $2.3 million.

You can see the revenue streams are diversifying:

• Subscription fees from 642,000 paid members in Q3 2025.
• Interchange revenue hitting $5.4 million in Q3 2025.
• Expensify Travel bookings up 95% since Q1 2025.
• FY 2025 Free Cash Flow guidance set at $19.0 million to $23.0 million.

Finance: draft 13-week cash view by Friday.