Brex vs Expensify

Disney names first CTO as tech push expands

Walt Disney has appointed Karandeep Anand as its first-ever chief technology officer, effective October 2, 2026. Anand, previously CEO of AI chatbot company Character.AI, will report directly to new Disney CEO Josh D'Amaro. The hiring is notable because Disney sent Character.AI a cease-and-desist letter in September 2025 for alleged copyright infringement of its characters. Anand's background includes roles at Facebook and Microsoft, and his appointment signals a strategic push to integrate AI and modernize technology across Disney's operations, including potential expansion of Disney+ with a free ad-supported tier and integration of streaming, shopping, parks, and gaming. Disney is also hiring members of Character.AI's technical team.

• Disney appointed Karandeep Anand as its first-ever chief technology officer, effective Oct 2, 2026.
• Anand will report directly to Disney CEO Josh D'Amaro.
• Anand previously served as CEO of Character.AI, an AI startup.

Inside Rain: Stablecoin-Based Payment Infrastructure

An interview with Farooq Malik, co-founder and CEO of Rain, discusses the company's stablecoin-based financial infrastructure, including card issuance and payments. The conversation covers early challenges, cross-border frictions, trust-building with partners, and future AI agent readiness. Additionally, Rain has filed an application with the OCC to establish Rain National Trust Bank (RNTB), a proposed national trust bank in New York. If approved, RNTB will offer fiduciary custody, reserve management, and stablecoin issuance/redemption for institutional clients, without deposits or commercial loans. Brandon Soto is the proposed President and CEO. The application is subject to OCC review.

• Farooq Malik is co-founder and CEO of Rain, a stablecoin-based financial infrastructure company.
• Rain filed an application with the OCC to establish Rain National Trust Bank (RNTB).
• RNTB will provide fiduciary custody, reserve management, and stablecoin issuance/redemption for institutional clients, but no deposits or loans.

10-Q Financial Filing Analysis for Expensify (2026-08-06)

Expensify, Inc. reported its second-quarter 2026 financial results, showing net revenue of $33.87 million, down 5.3% year-over-year from $35.76 million in Q2 2025. The decline was primarily driven by lower billable user activity and higher contra-revenue cashback incentives on the Expensify Card, partially offset by increased interchange fee income. Operating losses narrowed significantly to $2.92 million from $10.34 million in the prior-year period, largely due to a 67% reduction in sales and marketing expenses following elevated promotional spending for 'F1 The Movie' in Q2 2025. Net loss for the quarter stood at $3.85 million ($0.04 per share), compared to $8.79 million ($0.10 per share) in Q2 2025. Operationally, average paid members decreased slightly to 640,000 from 652,000 year-over-year. During the quarter, Expensify settled its putative securities class action for $9.5 million ($2.6 million paid directly and $6.9 million funded by insurance), completed a modified Dutch auction tender offer repurchasing 6.05 million Class A shares for $8.0 million, and regained compliance with the Nasdaq minimum bid price requirement.

• Q2 2026 net revenue reached $33.87 million, down 5.3% YoY, with net loss decreasing to $3.85 million compared to $8.79 million in Q2 2025.
• The company concluded a modified Dutch auction tender offer on June 10, 2026, repurchasing 6,053,023 shares at $1.20 per share for a total cost of $8.0 million.
• A final settlement was approved on June 30, 2026, for the IPO putative class action requiring a $9.5 million escrow deposit ($2.6 million funded by Expensify and $6.9 million by insurance).

September 2026 Expensify product update: Expensify joins Claude for Small Business, plus new ERP integrations and simpler rules

September’s updates put Expensify inside more of the tools you already use, from Claude to your general ledger, and make it easier to set up the rules that keep spend in line. Here's what's new.

8-K Financial Filing Analysis for Expensify (2026-08-06)

On August 6, 2026, Expensify, Inc. filed a Form 8-K to furnish its financial results for the fiscal quarter ended June 30, 2026, pursuant to Item 2.02 (Results of Operations and Financial Condition). In parallel, under Item 7.01 (Regulation FD Disclosure), the company made available an updated investor presentation on its investor relations website and furnished both the press release and presentation as Exhibits 99.1 and 99.2, respectively. The filing provides the formal regulatory disclosure framework for the company's quarterly performance updates to public market investors and analysts.

• Expensify furnished its financial results for the fiscal quarter ended June 30, 2026, via press release filed as Exhibit 99.1 under Item 2.02.
• The company updated its corporate investor presentation, furnished as Exhibit 99.2 under Item 7.01 and posted to its IR website on August 6, 2026.