We are adding new monetization to the product. We launched a new feature called Consolidated Travel Billing, which is a new way we're monetizing travel. That's very new, but that's an exciting way to pull some more transactional revenue out of our travel product.

Aug 6, 2026 / receipt

Our path forward is the same one we've talked about since the IPO. Keep migrating the remaining classic customers onto new Expensify, where they get a dramatically better experience, and keep accelerating new customer acquisition into a market that's still almost entirely untapped.

Aug 6, 2026 / receipt, needs a key / Ryan Schaffer, CFO | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 9161-9443 | segment 8

This is a great, great startup. and also we have this classic product, which has been around forever, which is producing a tremendous amount of cash that we've used to fund and build this startup. And either of those is actually quite valuable, like having a super fast growing expense management you know, startup combined with a kind of super cash flow positive sort of traditional products. Both of those are actually really, really nice to have.

Aug 6, 2026 / receipt, needs a key / David Barrett, CEO | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 11920-12369 | segment 11

And so the question is, Well, which is going to happen first? Will new Expensify's growth just get to a scale that it can overcome Classics churn? And also, what can we do to reduce and reverse Classics churn by getting those customers onto new Expensify and then cross-selling our new products and so forth?

Aug 6, 2026 / receipt, needs a key / David Barrett, CEO | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 13947-14255 | segment 13

And then we have the new expensive cohort, which is small but growing rapidly. So if you were to line up two charts, one, which is the classic slowly declining, and On top of it, you overlaid new Expensify, rapidly increasing. Eventually those two lines intersect, and then we're just in growth mode again.

Aug 6, 2026 / receipt, needs a key / Ryan Schaffer, CFO | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 15357-15663 | segment 15

We are adding new monetization to the product. We launched a new feature called Consolidated Travel Billing, which is a new way we're monetizing travel. That's very new, but that's an exciting way to pull some more transactional revenue out of our travel product.

Aug 6, 2026 / receipt, needs a key / Ryan Schaffer, CFO | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 19114-19377 | segment 19

As you can see from previous years, July tends to run a bit lower as people take vacations and travel less for business.

Aug 6, 2026 / receipt, needs a key / Ryan Schaffer, CFO | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 2989-3109 | segment 2

This is a marketing message that we have found to be very effective, especially with all the noise. Everyone has a card these days. We have found the message that you can bring your own card and use Expensify.

Aug 6, 2026 / receipt, needs a key / Ryan Schaffer, CFO | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 20592-20801 | segment 20

And then one last one for me on maybe the pipeline in terms of how you're seeing travel. I know that's a little bit of a different sales cycle and I'd love to kind of hear how the ramping process is going there on the sales front.

Aug 6, 2026 / receipt, needs a key / Unknown, other | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 22147-22377 | segment 22

So we just launched, I mentioned earlier, a feature called Consolidated Travel Billing, which is... We'll see you next time. for travel and we have a huge list of customers that are basically waitlisted on it and we are now we have like a contest internally you know big push basically to get everyone onto this new feature that we just launched and it's quite lucrative for us so we are very excited about that and I think travel just continues to be something that brings us large customers and With these kind of larger enterprises. So we're still very excited about travel, and it's one of the pillars of our business.

Aug 6, 2026 / receipt, needs a key / Unknown, other | earnings call 2026-08-06 | transcript 5df3b9d7-9ae1-4679-ad65-55b755e41d37 | chars 22389-23011 | segment 22

In conclusion, we are focusing on maintaining strong fundamentals in the business, investing in long-term growth opportunities, migrating customers to new Expensify, and iterating quickly on their feedback.

May 7, 2026 / receipt, needs a key / Ryan Schaffer, CFO | earnings call 2026-05-07 | transcript 6f7d279a-8be6-4c40-9a77-129b3b125e7f | chars 3214-3420 | segment 3

So our focus remains consistent. Keep improving New Expensify, reduce adoption friction, expand distribution, and turn the product momentum we're seeing into durable growth.

May 7, 2026 / receipt, needs a key / David Barrett, CEO | earnings call 2026-05-07 | transcript 6f7d279a-8be6-4c40-9a77-129b3b125e7f | chars 6503-6676 | segment 6

The whole strategy behind New Expensify is to shift away from kind of a more traditional expense management solution towards a more modern, collaborative, AI-focused solution. And so we knew this was going to be a huge investment.

May 7, 2026 / receipt, needs a key / David Barrett, CEO | earnings call 2026-05-07 | transcript 6f7d279a-8be6-4c40-9a77-129b3b125e7f | chars 7198-7428 | segment 7

Enterprise Account Manager | {"ats": "ashby", "city": null, "state": null, "job_id": "924c1b98-5f5f-4035-ba60-175e1ffbb097", "remote": true, "category": "sales_expansion", "function": "sales", "locati

company_statement / Sep 3, 2026 / receipt

Enterprise Account Manager | {"ats": "ashby", "city": null, "state": null, "job_id": "9f1ae82f-8039-4f8a-a5a0-43ede35a2ba1", "remote": true, "category": "sales_expansion", "function": "sales", "locati

company_statement / Sep 3, 2026 / receipt

Enterprise Account Manager | {"ats": "ashby", "city": null, "state": null, "job_id": "c924b323-207d-46a1-a91b-0ce6b93775d0", "remote": true, "category": "sales_expansion", "function": "sales", "locati

company_statement / Sep 3, 2026 / receipt

Compliance & Risk Generalist | {"ats": "ashby", "city": null, "state": null, "job_id": "78afe894-17b2-4ee2-90dd-eed6526fa0e1", "remote": true, "category": "other", "function": "legal", "location": "US

company_statement / Aug 26, 2026 / receipt