v3.26.1
CERTAIN BALANCE SHEET COMPONENTS
 6 Months Ended
Jun. 30, 2026
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,
20262025
Expensify Card posted collateral for funds held for customers$11,764 $10,530 
Expensify.org restricted cash6,277 6,181 
Earned interchange restricted cash1,843 1,654 
Deferred contract acquisition costs637 508 
Income tax receivable544 495 
Other restricted cash190 179 
Expected insurance recoveries— 6,710 
Other125 87 
Other current assets$21,380 $26,344 
Capitalized Software, Net
Capitalized software, net consisted of the following (in thousands):
As of June 30,As of December 31,
20262025
Capitalized software development costs$39,420 $36,393 
Less: accumulated amortization(27,019)(22,797)
Capitalized software, net$12,401 $13,596 
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 $2.2 million and $1.9 million for the three months ended June 30, 2026 and 2025, respectively. Amortization expense was $4.2 million and $3.7 million for the six months ended June 30, 2026 and 2025, respectively.
Property and Equipment, Net
Property and equipment, net consisted of the following (in thousands):
As of June 30,As of December 31,
20262025
Computers and equipment$151 $165 
Furniture and fixtures1,869 1,889 
Leasehold improvements7,784 7,791 
Commercial building9,209 9,209 
Land4,151 4,151 
Total property and equipment23,164 23,205 
Less: accumulated depreciation(10,457)(10,189)
Property and equipment, net$12,707 $13,016 
Depreciation expense related to property and equipment is recorded in General and administrative, Sales and marketing, and Other income, net on the Condensed Consolidated Statements of Operations. Depreciation expense related to property and equipment was $0.2 million and $0.1 million for the three months ended June 30, 2026 and 2025, respectively. Depreciation expense was $0.3 million for each of the six months ended June 30, 2026 and 2025.
Accrued Expenses and Other Liabilities
Accrued expenses and other liabilities consisted of the following (in thousands):
As of June 30,As of December 31,
20262025
Professional fees$2,189 $1,787 
Partner payouts and advertising fees1,689 1,559 
Sales, payroll and other taxes payable1,350 1,484 
Cashback rewards616 562 
Credit card processing fees530 477 
Matching Plan payroll liability309 672 
Income taxes payable152 284 
Estimated putative class action liability— 9,500 
Other1,229 1,568 
Accrued expenses and other liabilities$8,064 $17,893