Trending...
- Omnitronics launches Ecosystem Health Dashboard to enable proactive monitoring across dispatch environments
- Colonial Nissan Helps Multiple Generations of the Community Find Their Next Vehicle
- Nola Blue Records Announces New Album from Sherman Holmes
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
- Silicon Box Ships 500M Units at High Yield, Expands Production Capacity for Panel-Level Packaging
- Bethany Nikitenko Appointed to Philadelphia Trial Lawyers Association Board of Directors
- Why Baton Rouge's Humid Climate Can Contribute to Carpenter Ant Damage — J&J Exterminating Explains How to Protect Your Home
- Meals on Wheels of the Greater Lehigh Valley Awarded $50,000 Grant from Harry C. Trexler Trust
- RPR Promotes Emily Line to Chief Strategy Officer and Janine Sieja to Chief Product Officer
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
- Kellyn Hosts Fourth Lehigh Valley Lifestyle Medicine Symposium
- Expanding Beyond Space as New Drone Market Opportunities Accelerate Growth: Ascent Solar Technologies (N A S D A Q: ASTI)
- Lauren Merrell, Dale Sorensen Real Estate, announces price improvement for an extraordinary island retreat
- Portalz Publishes FES World First Architecture Introducing a New Cryptographic Platform
- Racquet Club of Philadelphia appoints Michael J. Sofia as new General Manager
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
0 Comments
Latest on The PennZone
- Minus K Technology launches it Educational Giveaway for Universities and Colleges in the USA
- UK Financial Ltd Verifies Maya Preferred PRA Circulating Supply, Proving Its Eight-Year Promise of Under 1M Tokens After Chainlink Labs Agreement
- Anamorphic 3D Only Works on Fixed Screens. Loud! OOH Put It on a Moving Ad Van for Flood Re
- From DJ Booths to Disney: Orlando Author Ryan Tiffin Launches "Chasing Magic"
- Nola Blue Records Announces New Album from Sherman Holmes
- FDA Food Recall Notices After Outbreak Linked to 98 Hospitalizations: Practical Tips for Safer Grocery Shopping
- The 'Tax Squeeze': Betsson's Record Quarter Previews the Economics of Finland's 2027 Casino Market
- Colonial Nissan Helps Multiple Generations of the Community Find Their Next Vehicle
- ImagineX Acquires Payteros to Strengthen Digital Transformation Capabilities
- From Pizza to Playlists: Marty The Pizza Guy Delivers Three Delicious New Songs
- CAPO Supply Launches New Website Serving Western Pennsylvania and Eastern Ohio
- Meals on Wheels of the Greater Lehigh Valley Receives $15,000 PPL Foundation Grant to Expand Access
- Salestrics Introduces PraiseEngine: The AI-Native Review Engine Built to Fix Social Proof
- BTAQ Unveils Easier Photo Upload Capabilities
- K2 Integrity Names Michael Kallabat Global Head of Investigations and Disputes
- WebDrafter Highlights How AI Search Is Reshaping Online Visibility
- Socialhose Eyes Southeast Asia and Rejects the Copy-Paste Expansion Playbook
- $40 Billion Global Market Value by 2030 Projected in Unmanned Aerial Vehicle or Other Drone Technology Sector, Growing at 9.2% Compound Annual Growth
- A.M. Logging Returns to Ag Progress Days for Eighth Year
- $620 Million in Recent Government Contract Awards with More Than $1.2 Billion in Annualized Revenue: Circle8 Group (N A S D A Q: CIRC)