diff --git a/src/components/MenuItem.tsx b/src/components/MenuItem.tsx
index 110256ba166b..46a0766c1057 100644
--- a/src/components/MenuItem.tsx
+++ b/src/components/MenuItem.tsx
@@ -1,7 +1,7 @@
 import ExpensiMark from 'expensify-common/lib/ExpensiMark';
 import type {ImageContentFit} from 'expo-image';
 import type {ForwardedRef, ReactNode} from 'react';
-import React, {forwardRef, useContext, useEffect, useMemo, useRef, useState} from 'react';
+import React, {forwardRef, useContext, useMemo} from 'react';
 import type {GestureResponderEvent, StyleProp, TextStyle, ViewStyle} from 'react-native';
 import {View} from 'react-native';
 import type {AnimatedStyle} from 'react-native-reanimated';
@@ -325,8 +325,6 @@ function MenuItem(
     const StyleUtils = useStyleUtils();
     const combinedStyle = [style, styles.popoverMenuItem];
     const {isSmallScreenWidth} = useWindowDimensions();
-    const [html, setHtml] = useState('');
-    const titleRef = useRef('');
     const {isExecuting, singleExecution, waitForNavigate} = useContext(MenuItemGroupContext) ?? {};
 
     const isDeleted = style && Array.isArray(style) ? style.includes(styles.offlineFeedback.deleted) : false;
@@ -354,26 +352,25 @@ function MenuItem(
         isDeleted ? styles.offlineFeedback.deleted : {},
     ]);
 
-    useEffect(() => {
-        if (!title || (titleRef.current.length && titleRef.current === title) || !shouldParseTitle) {
-            return;
+    const html = useMemo(() => {
+        if (!title || !shouldParseTitle) {
+            return '';
         }
         const parser = new ExpensiMark();
-        setHtml(parser.replace(title));
-        titleRef.current = title;
+        return parser.replace(title);
     }, [title, shouldParseTitle]);
 
-    const getProcessedTitle = useMemo(() => {
-        let processedTitle = '';
+    const processedTitle = useMemo(() => {
+        let titleToWrap = '';
         if (shouldRenderAsHTML) {
-            processedTitle = title ? convertToLTR(title) : '';
+            titleToWrap = title ? convertToLTR(title) : '';
         }
 
         if (shouldParseTitle) {
-            processedTitle = html;
+            titleToWrap = html;
         }
 
-        return processedTitle ? `<comment>${processedTitle}</comment>` : '';
+        return titleToWrap ? `<comment>${titleToWrap}</comment>` : '';
     }, [title, shouldRenderAsHTML, shouldParseTitle, html]);
 
     const hasPressableRightComponent = iconRight || (shouldShowRightComponent && rightComponent);
@@ -536,7 +533,7 @@ function MenuItem(
                                             <View style={[styles.flexRow, styles.alignItemsCenter]}>
                                                 {!!title && (shouldRenderAsHTML || (shouldParseTitle && !!html.length)) && (
                                                     <View style={styles.renderHTMLTitle}>
-                                                        <RenderHTML html={getProcessedTitle} />
+                                                        <RenderHTML html={processedTitle} />
                                                     </View>
                                                 )}
                                                 {!shouldRenderAsHTML && !shouldParseTitle && !!title && (
diff --git a/src/components/ReportActionItem/ReportPreview.tsx b/src/components/ReportActionItem/ReportPreview.tsx
index 2581359b4543..efe0b71b1012 100644
--- a/src/components/ReportActionItem/ReportPreview.tsx
+++ b/src/components/ReportActionItem/ReportPreview.tsx
@@ -1,3 +1,4 @@
+import ExpensiMark from 'expensify-common/lib/ExpensiMark';
 import React, {useMemo} from 'react';
 import type {StyleProp, ViewStyle} from 'react-native';
 import {View} from 'react-native';
@@ -8,6 +9,7 @@ import Icon from '@components/Icon';
 import * as Expensicons from '@components/Icon/Expensicons';
 import OfflineWithFeedback from '@components/OfflineWithFeedback';
 import PressableWithoutFeedback from '@components/Pressable/PressableWithoutFeedback';
+import RenderHTML from '@components/RenderHTML';
 import SettlementButton from '@components/SettlementButton';
 import {showContextMenuForReport} from '@components/ShowContextMenuContext';
 import Text from '@components/Text';
@@ -145,15 +147,6 @@ function ReportPreview({
     if (TransactionUtils.isPartialMerchant(formattedMerchant ?? '')) {
         formattedMerchant = null;
     }
-    const previewSubtitle =
-        // Formatted merchant can be an empty string
-        // eslint-disable-next-line @typescript-eslint/prefer-nullish-coalescing
-        (formattedMerchant ?? formattedDescription) ||
-        translate('iou.requestCount', {
-            count: numberOfRequests - numberOfScanningReceipts - numberOfPendingRequests,
-            scanningReceipts: numberOfScanningReceipts,
-            pendingReceipts: numberOfPendingRequests,
-        });
 
     const shouldShowSubmitButton = isOpenExpenseReport && reimbursableSpend !== 0;
     const shouldDisableSubmitButton = shouldShowSubmitButton && !ReportUtils.isAllowedToSubmitDraftExpenseReport(iouReport);
@@ -234,6 +227,24 @@ function ReportPreview({
         numberOfRequests === 1 && (!!formattedMerchant || !!formattedDescription) && !(hasOnlyTransactionsWithPendingRoutes && !totalDisplaySpend);
     const shouldShowSubtitle = !isScanning && (shouldShowSingleRequestMerchantOrDescription || numberOfRequests > 1);
 
+    const {isSupportTextHtml, supportText} = useMemo(() => {
+        if (formattedMerchant) {
+            return {isSupportTextHtml: false, supportText: formattedMerchant};
+        }
+        if (formattedDescription ?? moneyRequestComment) {
+            const parsedSubtitle = new ExpensiMark().replace(formattedDescription ?? moneyRequestComment);
+            return {isSupportTextHtml: !!parsedSubtitle, supportText: parsedSubtitle ? `<muted-text>${parsedSubtitle}</muted-text>` : ''};
+        }
+        return {
+            isSupportTextHtml: false,
+            supportText: translate('iou.requestCount', {
+                count: numberOfRequests - numberOfScanningReceipts - numberOfPendingRequests,
+                scanningReceipts: numberOfScanningReceipts,
+                pendingReceipts: numberOfPendingRequests,
+            }),
+        };
+    }, [formattedMerchant, formattedDescription, moneyRequestComment, translate, numberOfRequests, numberOfScanningReceipts, numberOfPendingRequests]);
+
     return (
         <OfflineWithFeedback
             pendingAction={iouReport?.pendingFields?.preview}
@@ -296,10 +307,14 @@ function ReportPreview({
                                                 )}
                                             </View>
                                         </View>
-                                        {shouldShowSubtitle && (
+                                        {shouldShowSubtitle && supportText && (
                                             <View style={styles.flexRow}>
                                                 <View style={[styles.flex1, styles.flexRow, styles.alignItemsCenter]}>
-                                                    <Text style={[styles.textLabelSupporting, styles.textNormal, styles.lh20]}>{previewSubtitle || moneyRequestComment}</Text>
+                                                    {isSupportTextHtml ? (
+                                                        <RenderHTML html={supportText} />
+                                                    ) : (
+                                                        <Text style={[styles.textLabelSupporting, styles.textNormal, styles.lh20]}>{supportText}</Text>
+                                                    )}
                                                 </View>
                                             </View>
                                         )}