Expensify, Inc. (NASDAQ:EXFY) Q1 2023 Results Conference Call May 9, 2023 5:00 PM ET

Company Participants

Anu Muralidharan - COO

Ryan Schaffer - CFO

Conference Call Participants

Daniel Jester - BMO

Mark Schappel - Loop Capital

Mauro Molina - Piper Sandler

Steven Enders - Citi

Ryan Schaffer

Welcome to the Q1 2023 Expensify Earnings Call. And today, you have myself, Ryan Schaffer and new Anu Muralidharan. Our CEO, David Barrett, is laser-focused right now on working with the team to get everything ready for ExpensiCon, our conference next week, and we'll be doing a number of important product announcements there, and he is working side-by-side with the team heads down to make sure everything is ready.

So today, Any and I are going to take you through the slides. And without further ado, let me turn it over to Any to read the legalese and take us through the business section.

Anu Muralidharan

Thanks, Ryan. Good afternoon, everyone. So first, the boring stuff. Before we begin, please note that all the information presented on today's call is unaudited. And during the course of this call, management may make forward-looking statements within the meaning of the federal securities laws.

These statements are based on management's current expectations and beliefs, and involve risks and uncertainties that could cause actual results to differ materially from those described in these looking statements. Forward-looking statements in the earnings release that we issued today, along with the comments on this call, are made only as of today and will not be updated as actual events unfold.

Please refer to today's press release and our filings with the SEC for a detailed discussion of the risks that could cause actual results to differ materially from those expressed or implied in any forward-looking statements made today.

We also note that on today's call, management will refer to certain non-GAAP financial measures. While we believe these non-GAAP financial measures provide useful information for investors, the presentation of this information is not intended to be considered in isolation or as a substitute for the financial information presented in accordance with GAAP. Please refer to today's press release or the investor presentation for a reconciliation of these non-GAAP financial measures to the most comparable GAAP measures.

So on that note, next slide, let's begin. I want to remind you and walk you through our long-term strategy in brief. So let's start off with the 3 secrets to Expensify's long-term success. First of all, the market is enormous. And we remind you of this every time, but almost no 1 in the market is actually using any software product, which means the primary competition is really just excel and paper.