1. Expensify (EXFY) presents value as an undervalued small-cap stock with strong cash flow metrics, trading at 5.7x EV/FY25 FCF, far below large-cap tech peers; 2. The company is streamlining pricing and enhancing AI features to reverse membership declines and drive growth, supported by a 50% brand awareness boost from its F1 movie sponsorship; 3. Despite execution risks and recent user base challenges, the author reiterates a 'Buy' rating, viewing current share price weakness as an opportunity.