XML 21 R9.htm IDEA: XBRL DOCUMENT v3.25.2
CERTAIN BALANCE SHEET COMPONENTS
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
CERTAIN BALANCE SHEET COMPONENTS CERTAIN BALANCE SHEET COMPONENTS
Other Current Assets
Other current assets consisted of the following (in thousands):
As of June 30,As of December 31,
20252024
Expensify Card posted collateral for funds held for customers$13,280 $12,415 
Expensify.org restricted cash6,030 5,972 
Income tax receivable2,573 429 
Earned interchange restricted cash
1,651 1,442 
Deferred contract acquisition costs443 339 
Other restricted cash
171 151 
Other129 160 
Other current assets$24,277 $20,908 
Capitalized Software, Net
Capitalized software, net consisted of the following (in thousands):
As of June 30,As of December 31,
20252024
Capitalized software development costs$33,630 $32,332 
Less: accumulated amortization (18,764)(16,100)
Capitalized software, net$14,866 $16,232 
Amortization expense related to capitalized software development costs is recorded in Cost of revenue, net on the Condensed Consolidated Statements of Operations. Amortization expense was $1.9 million and $1.4 million for the three months ended June 30, 2025 and 2024, respectively. Amortization expense was $3.7 million and $2.5 million for the six months ended June 30, 2025 and 2024, respectively.
Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
As of June 30,As of December 31,
20252024
Computers and equipment$170 $170 
Furniture and fixtures1,947 1,930 
Leasehold improvements10,507 7,937 
Commercial building6,493 6,493 
Land4,151 4,151 
Construction in progress— 2,570 
Total property and equipment23,268 23,251 
Less: accumulated depreciation(9,905)(9,630)
Property and equipment, net$13,363 $13,621 
Depreciation expense is recorded in General and administrative, Sales and marketing, and Other income (expenses), net on the Condensed Consolidated Statements of Operations. Depreciation expense was $0.1 million and $0.2 million for the three months ended June 30, 2025 and 2024, respectively. Depreciation expense was $0.3 million and $0.5 million for the six months ended June 30, 2025 and 2024, respectively.
Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consisted of the following (in thousands):
As of June 30,As of December 31,
20252024
Sales, payroll and other taxes$2,663 $2,538 
Professional fees1,925 1,336 
Partner payouts and advertising fees1,600 1,194 
Matching Plan payroll liability
598 408 
Credit card processing fees506 411 
Cashback rewards443 489 
Income taxes183 934 
Other1,117 930 
Accrued expenses and other liabilities$9,035 $8,240