Expensify Posts Loss In Q4; Shares Down 17%

(RTTNews) - Shares of Expensify, Inc. (EXFY) slipped over 17% in extended trading session on Wednesday after the company posted a loss for the fourth quarter compared to a profit last year.

Net loss for the fourth quarter was $21.9 million or $0.82 per share, compared to net income of $1.7 million or breakeven per share last year.

Adjusted net income for the quarter was $4.4 million compared to $6.6 million last year.

Revenue was $40.4 million, an increase of 56.0% from $25.7 million reported in the same period last year.

Analysts polled by Thomson Reuters expected earnings of $0.08 per share on revenues of $38.89 million.

Looking forward to the first quarter, Expensify expects revenues between $38.6 million and $39.6 million and average monthly paid members between 684 thousand and 702 thousand. Analysts currently estimate revenue of $40.34 million for the quarter.

EXFY closed Wednesday's trading at $18.66, down $1.06 or 5.38%, on the Nasdaq. The stock further slipped $3.26 or 17.47% in the after-hours trading.