12 Cash-Rich Penny Stocks To Buy According To Hedge Funds

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7. Expensify, Inc. (NASDAQ:EXFY)

TTM Operating Cash Flow as of December 31, 2024: $23,877,000

Number of Hedge Fund Holders: 23

Share Price as of March 4: $3.5250

Expensify, Inc. (NASDAQ:EXFY) is an Oregon-based cloud-based expense management platform that helps individuals and businesses track spending, manage corporate cards, pay bills, send invoices, and even book travel. It is one of the best cash-rich stocks to buy. On February 27, 2025, the company announced a new $50 million share repurchase program, replacing its previous plan set to expire in March 2025. CFO Ryan Schaffer noted that with Expensify’s strong cash flow and zero debt, stock buybacks are a smart way to give back to shareholders.

Expensify, Inc. (NASDAQ:EXFY) brought in $37 million in revenue for Q4 2024, up 5% from both the previous quarter and last year. Paid membership saw a slight increase to 687,000, while interchange revenue jumped 62% year-over-year to $5.1 million, driven by strong growth in its card business. The company generated $7.4 million in operating cash flow and $6.3 million in free cash flow, narrowing its net loss to $1.3 million and getting closer to profitability.

According to Insider Monkey’s fourth quarter database, 23 hedge funds held stakes in Expensify, Inc. (NASDAQ:EXFY), compared to 14 funds in the prior quarter. D E Shaw was the biggest stakeholder of the company, with 2.4 million shares valued at $8.10 million.

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