Trending...
- RAS AP Consulting Advances to RFP Stage in Heidelberg Materials' SAP Vendor & Customer Master Data Modernization Initiative
- Expert E-Bike Safety Advocate Issues Urgent Warning Following Recent Southern California Fatalities
- Sidow Sobrino, the One and Only World's No.1 Superstar®, Launches Dangerous Joy
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
- Edwards & Virginia Business Systems Announces Leadership Appointments
- $29.8 Million Record Setting Q1 with Boosted Annual Guidance to $160 Million for Expanding Pre-Owned Boat Dealer: Off The Hook YS, Inc. N Y S E: OTH
- All About Technology Celebrates 25 Years of Bridging Detroit's Digital Divide
- iatroX surpasses 500,000 clinical queries and expands specialist exam coverage
- Inside-Out Hollywood: The Relentless Rise of Joseph Nybyk (AKA Joseph Neibich)
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
- SRK Collective Media Group Launches with a Modern Approach to Media, Authority Building, and Cultural Visibility
- MSBG Corporation Acquires GridWatch US Telemetry Automation System
- TAYP Expands Athlete Exposure Platform Beyond Georgia With New Push Into Virginia and the 757
- KT Medical Staffing Expands Concierge Nursing and Private Duty Nursing Services in Orange County
- The Millennium Alliance Achieves Great Place To Work® Certification™ Amid Continued Growth
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
- Ed, Edd n Eddy, Resident Evil, Anime Voice Actors Augment FAN EXPO Philadelphia Lineup
- American Mensa and Davidson Institute Join Forces To Strengthen Support for Profoundly Gifted Youth
- SpeedyIndex Rolls Out Automated API for Mass URL Verification, Solving the Backlink Blind Spot for SEO Agencies
- KLEKT Announces Appointment of Jay Kimpton to Board of Directors
- Michigan Attorney General Closed FGM Licensing Investigations Months Before Federal Case Ended, Records Show
- Client 1st Financial and Keystone Financial Management Donate 550+ Pounds of Food to New Bethany Inc
- Mensa Foundation Event Reframes Brain Health for Every Age
- DLT Resolution, Inc. (Stock Symbol: DLTI) Expands Into the $224 Billion Life Settlements Market While Accelerating Telecom Growth Across Canada
- Pollock Begg Partner Joseph R. Williams Featured on 'CEOs You Should Know' Podcast
- Ashley Wineland's 'Love + Heartbreak' Tour Brings her Emotional and Empowering Album 'Wineland' to Nationwide Audiences
- People & Stories/Gente y Cuentos Welcomes Two New Trustees as Organization Enters 54th Year and Expands Community Reach
- With a Dream and a Team, Monalisa Okojie Is Empowering the Next Generation Through EXPOSE NGO
- Best Companies Group Launches Best Places to Work in PA Program
- American Properties Realty, Inc. Celebrates 2026 FAME Awards - Community of the Year - Heritage at South Brunswick
- Mel Blackwell to Keynote 2026 NSSF Marketing and Leadership Summit
- SmartCone and Samsung Launch RoadDefender™ to Enhance Real-Time Safety for Roadside Workers
- The Personal Development Industry Has a Blind Spot Says Global Personal Success Guru Omar L. Harris
- Kevin "Mr. Wonderful" O'Leary Begins New Universal Coin & Bullion Promotion of Gold and Silver
- Flamingo Compliance Launches Schengen Area Trip Planning Tools as New Digital Border Controls Take Effect
- HHS Announces Major Push to Address Psychiatric Drug Risks: CCHR Applauds Focus on Informed Consent and Safe Tapering