India, Feb. 27 -- Expensify, Inc. (EXFY), a payments superapp facilitating financial management for individuals and businesses, has announced a new share repurchase program approved by its Board of Directors. This initiative authorizes the company to repurchase up to $50 million worth of its Class A common stock, replacing the previous program set to expire in March 2025.
According to CFO Ryan Schaffer, the company's successful cost-cutting measures over the past year have significantly increased free cash flow, creating a favorable opportunity for stock buybacks. Having become debt-free in the previous year, Expensify views share repurchases as a strategic use of free cash flow to enhance shareholder value.
The program aims to offset dil...