Expensify (EXFY) Gross Margin (2020 - 2026)
Expensify's (EXFY) quarterly Gross Margin came in at 47.61% in Q1 2026, down 296.0% year-on-year from 24.29% in Q1 2025, and down 3.2% quarter-over-quarter from 49.18% in Q4 2025.
Expensify (EXFY) Gross Margin (2020 - 2026) Analysis & Trends
Expensify has disclosed Gross Margin across 7 years of filings, most recently posting 47.61% for Q1 2026.
- Gross Margin for Q1 2026 came in at 47.61%, down 296.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 49.61% (down 278.0% YoY), and the FY2025 annual result was 50.34%, down 353.0% from the prior year.
- Gross Margin came in at 47.61% for Q1 2026 at Expensify, down from 49.18% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 64.99% in Q1 2022 to a low of 47.61% in Q1 2026.
- The 5-year median for Gross Margin is 53.11% (2023), against an average of 55.22%.
- Peak annual rise in Gross Margin reached 1231 bps in 2022, while the deepest fall reached 1431 bps in 2022.
- Expensify's Gross Margin stood at 62.95% in 2022, then retreated by 16 bps to 53.11% in 2023, then fell by 4 bps to 50.96% in 2024, then retreated by 3 bps to 49.18% in 2025, then fell by 3 bps to 47.61% in 2026.
- The last three Gross Margin figures came in at 47.61% (Q1 2026), 49.18% (Q4 2025), and 49.62% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | Expensify | 118.55 Mn | 52.03 Mn | 16.17 Mn | 47.61% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 47.61% |
| Dec 31, 2025 | 49.18% |
| Sep 30, 2025 | 49.62% |
| Jun 30, 2025 | 51.94% |
| Mar 31, 2025 | 50.57% |
| Dec 31, 2024 | 50.96% |
| Sep 30, 2024 | 51.58% |
| Jun 30, 2024 | 56.85% |
| Mar 31, 2024 | 56.51% |
| Dec 31, 2023 | 53.11% |
| Sep 30, 2023 | 51.55% |
| Jun 30, 2023 | 56.47% |
| Mar 31, 2023 | 60.66% |
| Dec 31, 2022 | 62.95% |
| Sep 30, 2022 | 61.04% |
| Jun 30, 2022 | 63.22% |
| Mar 31, 2022 | 64.99% |
| Dec 31, 2021 | 50.64% |
| Sep 30, 2021 | 51.41% |
| Jun 30, 2021 | 77.53% |