Expensify (EXFY) Research & Development (2020 - 2026)
Expensify (EXFY) posted Research & Development of $4.98 million for Q2 2026, down 3.4% from $5.16 million a year earlier and down 5.4% from the prior quarter.
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Analysis
Expensify (EXFY) Research & Development (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Research & Development at Expensify was $20.42 million, down 10.6% year-over-year; for FY2025, it came in at $20.68 million, down 16.1% from FY2024.
- Annual Research & Development shows a five-year compound annual growth rate of 25.2% (FY2020 to FY2025).
- In prior years, Expensify's Research & Development was $24.64 million in FY2024 (+5.4%), $23.37 million in FY2023 (+70.7%), $13.69 million in FY2022 (+24.6%) and $10.99 million in FY2021 (+63.3%).
- Quarterly Research & Development has run from a low of $2.17 million in Q3 2021 to a high of $6.7 million in Q4 2024 over five years.
- On a year-over-year basis, Research & Development has declined in each of the last six quarters, with an average decline of 9.5% over the last eight quarters.
- The strongest year-over-year quarter for Research & Development in the past five years was Q1 2022, with growth of 237.4%; the weakest was Q2 2022, with a decline of 26.5%.
- According to Business Quant data, Research & Development for the three prior quarters was $5.27 million (Q1 2026), $5.26 million (Q4 2025) and $4.91 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 450.50 Bn | 419.56 Bn | 1.64 Bn | 192.51 Mn |
| 2 | Oracle | 401.01 Bn | 273.57 Bn | - | 2.40 Bn |
| 3 | Sap Se | 257.03 Bn | 178.11 Bn | 8.40 Bn | -2.14 Bn |
| 4 | Salesforce | 187.04 Bn | 142.92 Bn | 8.70 Bn | 1.69 Bn |
| 5 | ServiceNow | 135.91 Bn | 114.37 Bn | 2.82 Bn | 915.00 Mn |
| 6 | Automatic Data Processing | 104.14 Bn | 86.27 Bn | 2.51 Bn | 265.90 Mn |
| 7 | Intuit | 72.30 Bn | 51.65 Bn | 3.44 Bn | 857.00 Mn |
| 8 | Relx | 60.17 Bn | 57.14 Bn | - | - |
| 9 | Strategy | 55.31 Bn | 48.30 Bn | 81.55 Mn | 23.10 Mn |
| 10 | Expensify | 197.58 Mn | -59.24 Mn | 16.33 Mn | 4.98 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.98 Mn |
| Mar 31, 2026 | 5.27 Mn |
| Dec 31, 2025 | 5.26 Mn |
| Sep 30, 2025 | 4.91 Mn |
| Jun 30, 2025 | 5.16 Mn |
| Mar 31, 2025 | 5.36 Mn |
| Dec 31, 2024 | 6.70 Mn |
| Sep 30, 2024 | 5.62 Mn |
| Jun 30, 2024 | 6.39 Mn |
| Mar 31, 2024 | 5.93 Mn |
| Dec 31, 2023 | 6.25 Mn |
| Sep 30, 2023 | 6.61 Mn |
| Jun 30, 2023 | 5.09 Mn |
| Mar 31, 2023 | 5.42 Mn |
| Dec 31, 2022 | 2.99 Mn |
| Sep 30, 2022 | 3.42 Mn |
| Jun 30, 2022 | 3.58 Mn |
| Mar 31, 2022 | 3.70 Mn |
| Dec 31, 2021 | 2.85 Mn |
| Sep 30, 2021 | 2.17 Mn |
API Access
Expensify Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=EXFY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "EXFY", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=EXFY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();