Trending...
- Author Releases 7-Day Screen Time Reset for Families as Teachers Worldwide Report Children "Struggling to Grasp Basic Concepts"
- AdvisorVault Adds Social Media Archiving to its Consolidated D3P Service
- Blueshirt Media Launches HIPAA-Compliant AI Call Answering for Addiction Treatment Centers
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Expensify, Inc. ("Expensify" or the "Company") (NASDAQ: EXFY) investors concerning the Company's possible violations of federal securities laws.
On or around November 11, 2021, Expensify conducted its initial public offering ("IPO"), selling 9.73 million shares at $27 per share.
On June 12, 2023, Morgan Stanley downgraded Expensify from Equal-weight to Underweight, citing structural headwinds and the Company's risk-reward profile. On this news, Expensify's stock price fell $0.45, or 6.3%, to close at $6.72 per share on June 12, 2023, thereby injuring investors.
More on The PennZone
Then, on August 8, 2023, Expensify released its second quarter 2023 financial results, reporting GAAP EPS of -$0.14, missing consensus estimate of -$0.07, and revenue of $38.9 million, missing consensus estimate of $41.5 million. Additionally, the Company withdrew its previously issued revenue growth guidance. On this news, Expensify's stock price fell $1.69, or 28.6%, to close at $4.23 per share on August 9, 2023.
Then, on November 7, 2023, after the market closed, Expensify released its third quarter 2023 financial results, again missing consensus estimates, reporting a GAAP loss of $0.21 per share and a 14.1% year-over-year revenue decline. On this news, Expensify's stock price fell $1.07, or 36.9%, to close at $1.83 per share on November 8, 2023, thereby injuring investors further.
If you purchased Expensify securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
More on The PennZone
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
On or around November 11, 2021, Expensify conducted its initial public offering ("IPO"), selling 9.73 million shares at $27 per share.
On June 12, 2023, Morgan Stanley downgraded Expensify from Equal-weight to Underweight, citing structural headwinds and the Company's risk-reward profile. On this news, Expensify's stock price fell $0.45, or 6.3%, to close at $6.72 per share on June 12, 2023, thereby injuring investors.
More on The PennZone
- American Ethiopian Public Affairs Committee (AEPAC) Applauds Pennsylvania House Recognition of Adwa VictoryDay
- A Foundational Claim in Human Secrecy Goes Public
- Agape Leadership Academy Opens Nationwide Enrollment — State ESA Scholarships Cover Full Tuition for Families in 7 States
- Fourth Annual Free Training Day Mid-Atlantic Returns Sept. 19, 2026
- Las Vegas Headliner Don Barnhart Brings National Touring Comedy Show to Comedy Cabana
Then, on August 8, 2023, Expensify released its second quarter 2023 financial results, reporting GAAP EPS of -$0.14, missing consensus estimate of -$0.07, and revenue of $38.9 million, missing consensus estimate of $41.5 million. Additionally, the Company withdrew its previously issued revenue growth guidance. On this news, Expensify's stock price fell $1.69, or 28.6%, to close at $4.23 per share on August 9, 2023.
Then, on November 7, 2023, after the market closed, Expensify released its third quarter 2023 financial results, again missing consensus estimates, reporting a GAAP loss of $0.21 per share and a 14.1% year-over-year revenue decline. On this news, Expensify's stock price fell $1.07, or 36.9%, to close at $1.83 per share on November 8, 2023, thereby injuring investors further.
If you purchased Expensify securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
More on The PennZone
- Nevada Boxing Hall of Fame Announces 14th Annual Induction Gala Weekend Honoring Classes of 2025 and 2026
- Brosix Celebrates 20 Years of Private Team Messaging for Small and Mid-Sized Businesses
- Top 15 Mosquito-Infested Cities in Louisiana and East Texas Ranked for 2026 Mosquito Season
- Colonial Nissan Enhances Ownership Experience with Hall of Fame Package
- From Broken to Soaring Week 40
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
Filed Under: Business
0 Comments
Latest on The PennZone
- Heritage at South Brunswick Unveils Luxury Resort-Style Amenities Designed for Every Generation
- CAPHRA warns push for ASEAN vape ban ignores science
- Your Mortgage Toolbox Launches Free Mortgage Calculators That Show the Real Monthly Payment and Cash Needed to Close
- ENTOUCH Recognized on Inc.'s 2026 Best Workplaces List for the Third Year Running
- P-Wave Classics Opens Pre-Orders for Volume II of Robert Bage's Hermsprong
- Cabinetworks Group announces recipient of 2025 Plant of the Year
- Honesdale Painters Launch Season With Act of Community Kindness
- Tuckwell Machinery Launches New Range of Woodworking Machinery
- A Brave Little Hero with Four Paws
- Pittsburgh-Area Author Erica L. Day Releases HER, a Christian Second-Chance Romance and Its Own Comp
- Revenue Optics Expands Its Private Equity Practice as Sponsors Move Inside Sales to the Center of Distribution Value Creation
- Ecuador Freedom Launches First Scheduled Motorcycle Tour of Northern Peru's Lost Kingdoms
- Lineus Medical Completes Financial Restructuring with KMF Investments- Launching a New Era for SafeBreak
- Neuro Recovery Institute Showcases Emerging Immersive Neuro-Rehabilitation Technology at Clinical Innovation Open House
- Community, Conservation & Waterwise Inspiration Bloom on June 6
- Industrial and systems engineers celebrate key leaders in the field at IISE Annual Conference
- Cosanostra Miami Rises as the Best Latin Nightclub in Miami in Under Two Years From its Opening
- CCHR Leader's 50-Year Fight for Psychiatric Drug Victims Gains National Momentum
- Endless Mountain Music Festival Celebrates 21st Season with America250-Inspired Lineup
- Author Releases 7-Day Screen Time Reset for Families as Teachers Worldwide Report Children "Struggling to Grasp Basic Concepts"