Expensify, Inc. (NASDAQ:EXFY) Q2 2022 Earnings Conference Call August 11, 2022 5:00 PM ET

Company Participants

David Barrett - Founder, President & Chief Executive Officer

Anuradha Muralidharan - Chief Operating Officer

Ryan Schaffer - Chief Financial Officer

Conference Call Participants

Daniel Jester - BMO Capital Markets

Koji Ikeda - Bank of America

Patrick Walravens - JMP Securities

David Barrett

Well, hello, everyone. Welcome to the Q2 2022 Earnings Call for Expensify. We’re very excited to be here, broadcasting live from the Bank of Expensify here in Portland. And so on this call, we have me, I’m David Barrett, the Founder and I of Expensify. We have Ryan, our I; we have Trent from Technical Accounting. Also on the line is Anu, who is our Chief Operating Officer. And so let’s get started.

Let’s in you could start. Here, we get cool. And so I believe that the new is going to kick us off with a fascinating tail of legalese. So Anu, are you here? And can you just go through this

Anuradha Muralidharan

Yes, can do. 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 forward-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. Please 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 the reconciliation of these non-GAAP financial measures to the most comparable GAAP measures.

And that’s it back to you, David.

David Barrett

Great. That was fascinating. Thank you so much. All right. So let's get started. As always, we always start with just a review of what makes Expensify special. And so as you might recall or for anyone who's new to the call, there are basically 3 pillars of our success. The first is that we have enormous untapped markets. And so the way that we view it is the management space has been largely untouched. Of these, you add up all of the competition's customers, it adds up to maybe a couple of hundred thousand companies in the world. But there's hundreds of millions of businesses in the world and virtually none of them do anything. And so the way that we view it is the market is almost entirely untapped and is enormous.