Net debt and capitalization -- $6.9 million in cash as of June 30, 2025, $6.6 million in debt facilities available as of June 30, 2025, $6.5 million in net debt as of June 30, 2025, and net debt/adjusted EBITDA ratio of 0.7x as of June 30, 2025.

Q2 2025 Earnings Call Transcript August 8, 2025 Ryan Schaffer: Hi. Welcome to the Q2 2025 Expensify Earnings. I’m Expensify’s CFO, Ryan Schaffer. And with me, I have Founder and CEO, David Barrett. And now we’re going to pass it over to Niki for the legalese.

Glucagon injection salesdeclined 25% to $20.6 million in Q2 2025, driven by increased competition and a market shift toward ready-to-use products. Epinephrine salesdecreased 42% to $16.2 million in Q2 2025,