Expensify, Inc. announced its financial results for the first quarter of 2026 on Thursday, highlighting growth in its corporate card revenue.
The results demonstrate the company's ability to scale its fintech offerings beyond traditional software subscriptions. By increasing the adoption of the Expensify Card, the company is diversifying its income streams through payment processing fees.
According to the company's report, interchange revenue derived from the Expensify Card reached $5.5 million [1]. This figure represents a 10% increase [1] when compared to the same period last year.
Founder and CEO David Barrett oversaw the reporting for the period, which concluded on March 31, 2026 [2]. The company is headquartered in San Francisco, California [1].
“Interchange revenue derived from the Expensify Card grew to $5.5 million, an increase of 10% as compared to the same period last year,” Expensify said [1].
The company's strategy focuses on integrating spending and reporting into a single ecosystem. By capturing the transaction at the point of sale via its own card, Expensify reduces the friction of manual expense reporting, while generating a new revenue layer from the banks and merchants involved in the transaction.
“Interchange revenue derived from the Expensify Card grew to $5.5 million”
The growth in interchange revenue indicates that Expensify is successfully transitioning from a pure software-as-a-service (SaaS) model to a fintech hybrid. By leveraging the Expensify Card, the company can generate passive income from every transaction made by its users, reducing its total reliance on monthly subscription fees for long-term growth.
