Currently at all-time peak NRR of 88%.
Expensify is above the Finance Tech Public median by +0pp (cell median: 88%)
Expensify (EXFY) is a finance tech company at the public stage. As of its most recent disclosure (FY-2025), Expensify reported a Net Revenue Retention rate of 88% - a below-average result for B2B SaaS at this segment.
Expensify is currently at or near its all-time NRR peak.
Within its peer set (finance tech companies at public stage in the under $5k acv band), Expensify's NRR is roughly in line with the cell median of 88%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
Revenue, ARR, and team-size denominators for the productivity ratios.
Support tiers: Concierge (AI-first) · First Responder (Automated) · Second Responder (Human Escalation)
CS team segments: Classic · New Expensify
CSM model: hybrid
Education programs: ExpensifyApproved! Partner Program
Top customer exec: Cole Eason - Chief Compliance Officer
Computed from the data above. Shows where value comes from and where leakage hides.
Named CS initiatives across recent disclosures (newest first).
Strategic partnership program for accountants.
"leadership developing our Strategic Partnership program and ExpensifyApproved! Accountants program."
New card program launched in February 2024 with Bancorp and Visa to capture more interchange and spend.
"the Expensify Card substantially consisted of a single card program that launched in February 2024"
Increased adoption and spend captured from members using the Expensify Card.
"increased adoption and spend captured from members using the Expensify Card"
Open-source financial group chat optimized for financial conversations.
"we have been migrating users onto New Expensify, our open-source financial group chat"
Travel platform that simplifies business travel by integrating booking, approvals, and payments.
"In 2024, we launched our travel platform, Expensify Travel"
Migration of existing customers to the New Expensify platform, reaching 63% of Classic customers.
"We've now rolled it out to 63% of Classic customers. The way we do this is what we call nudging."
A new free plan for all members to drive grassroots adoption within organizations.
"We're launching a new Submit plan. It's free for all members... to create grassroots collective pressure to adopt."
Building a singular multimodal AI agent for support and financial tasks across chat, email, and SMS.
"we've built a singular AI that can operate in a multimodal fashion... same AI can do all of these different functions."
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Risk of delisting if share price remains below $1.00.
"ability to remain listed on Nasdaq would be significantly and negatively affected if this Proposal 4 is not approved"
Decrease in pay-per-use billable activity which has a higher average fee per member.
"decrease in billable activity across our user base, including a decrease in pay-per-use billable activity"
Agreement-in-principle to settle securities class action for $9.5 million.
"parties reached an agreement-in-principle to settle all claims in the Putative Class Action for $9.5 million"
The risk of AI generating semi-functional expense apps that could replace simple horizontal workflow tools.
"vibe coding, sort of the ability to generate an app, is going to wipe out huge classes of applications."
Existing long-term customers have different feedback and reactions to the new platform compared to new users.
"Someone switching from who's used Classic for maybe five years... they have a different reaction."
July is typically a soft month due to summer vacations impacting paid member counts.
"July payment members were 641,000. July is usually a pretty soft month... We saw that seasonality this quarter."
Curated quotes about customer outcomes, retention, renewals.
"Retain and expand our Classic customers by migrating the last of them onto New Expensify, where they can benefit from a dramatically improved experience"
"New Expensify is really about trying to help streamline the collaboration elements between humans and also bring in AI agents to do the works that historically humans had to do."
"We never want to migrate over a customer that we're not confident is gonna have a great experience."
"I think it's about 60%, I would say. The main thing. Migration's going well."
"Concierge is our primary sort of AI-first experience built throughout the entire product because I think we've learned early on that the UI of the future is a chat-centric UI."
"We put a lot of effort into account management, and I think that's really had good effects as well."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Expensify appears on 1 of our retention leaderboards.
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| Period | NRR | GRR | Source type | Filing |
|---|---|---|---|---|
| FY-2025 | 88% | 81% | 10-K | source ↗ |
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