Flywire Corporation (FLYW) is a global payments enablement and software company that specializes in providing secure and efficient payment solutions tailored to specific industries. The company facilitates cross-border and domestic transactions, catering to sectors such as education, healthcare, travel, and business-to-business (B2B). Flywire's offerings include payment processing services and platform-based solutions designed to meet the unique needs of its clients and their customers.
- Transaction Revenue - Generates revenue from payment transactions, including cross-border and domestic payments, across industries such as education, healthcare, travel, and B2B.
- Platform and Other Revenues - Includes revenue from platform usage, interest earned on funds held for customers, and other ancillary services.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Michael Massaro ExecutiveBoard | Chief Executive Officer (CEO) | None | CEO since 2013, joined Flywire in 2012 as VP of Sales and Business Development. Led Flywire's growth to over $24B in payment volume and $403.1M in revenue in 2023. | View Report → |
Cosmin Pitigoi Executive | Chief Financial Officer (CFO) | None | CFO since 2024. Previously SVP Finance at PayPal, with expertise in scaling businesses and operational finance. | |
David King Executive | Chief Technology Officer (CTO) | Owner of AmagiSoft, LLC | CTO since 2019. Co-founded OnPlan Holdings (acquired by Flywire). Leads Flywire's technology and solutions development. | |
Peter Butterfield Executive | General Counsel & Chief Compliance Officer | None | Joined in 2015. Oversees legal, compliance, and risk management. Holds a JD from Columbia University. | |
Robert Orgel Executive | President & Chief Operating Officer (COO) | None | Joined in 2019. Leads global payment network, operations, finance, legal, compliance, and strategy. Previously led Apple Pay's global expansion and Apple Card launch. | |
Alex Finkelstein Board | Board Member | General Partner at Spark Capital | Board member since 2011. General Partner at Spark Capital, focusing on technology and start-ups. | |
Carleigh Jaques Board | Board Member | Advisory Board Member at Wharton AI & Analytics Initiative | Joined in 2024. Former SVP at Visa, led global fraud detection and merchant solutions. Founder of Visa's Corporate Development and Venture Function. | |
Diane Offereins Board | Board Member | Board Member at Brighthouse Financial; Board Member at Children’s Home & Aid | Joined in 2023. Former EVP at Discover Financial Services, overseeing $500B in transaction volume. Named one of the 2022 Most Powerful Women in Finance. | |
Edwin Santos Board | Board Member | Board Member at Providence Mutual, Washington Trust Bancorp, Fidelity Institutional Asset Management; Trustee at Bryant University | Board member since 2021. Former EVP at Citizens Financial Group. Expertise in risk management and corporate governance. | |
Gretchen Howard Board | Board Member | Board Member at AllTrails; Trustee at Williams College | Joined in 2023. Former COO at Robinhood, led the company through its IPO in 2021. Partner at CapitalG from 2014 to 2019. | |
Matthew Harris Board | Board Member | Partner at Bain Capital Ventures; Board Member at AvidXchange | Board member since 2015. Partner at Bain Capital Ventures, focusing on financial services and payments. | |
Phillip Riese Board | Chairman of the Board | Board Member at Remitly, Betterment, Cross River Bank, MPOWER Financing; Founder of Riese & Others | Chairman since 2013. Former President of Consumer Card Group at American Express. Extensive experience in payments and financial services. |
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Given the expected decline of over 30% in revenue from Canada and Australia, which together represent about 15% of your revenue, how confident are you in achieving the 10% to 14% FX-neutral growth guidance for 2025, and what specific measures are you implementing to offset these significant headwinds?
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With the recent restructuring affecting approximately 10% of your workforce, how will this reduction impact your ability to drive growth and execute on strategic initiatives across your verticals and geographies?
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The acquisition of Sertifi is expected to add $35 million to $40 million in revenue but comes with lower EBITDA margins than the company average. Can you elaborate on how this acquisition will impact your overall profitability and the steps you're taking to integrate Sertifi and improve its margins?
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Considering the significant headwinds in the education vertical due to visa policy changes, particularly in Canada and Australia, what is your strategy to mitigate these challenges, and can growth in other verticals like travel and B2B sustainably compensate for the declines in education?
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You've mentioned conducting a comprehensive strategic review of your products, geographies, and verticals. Are you considering exiting any underperforming segments or pursuing divestitures, and what are the criteria guiding these potential decisions?
Research analysts who have asked questions during Flywire earnings calls.
Cristopher Kennedy
William Blair & Company
3 questions for FLYW
John Davis
Raymond James Financial
3 questions for FLYW
Tien-tsin Huang
JPMorgan Chase & Co.
3 questions for FLYW
Timothy Chiodo
UBS Group AG
3 questions for FLYW
Andrew Bauch
Wells Fargo & Company
2 questions for FLYW
Andrew Schmidt
Citigroup Inc.
2 questions for FLYW
Darrin Peller
Wolfe Research, LLC
2 questions for FLYW
Nate Svensson
Deutsche Bank
2 questions for FLYW
Charles Nabhan
Stephens Inc.
1 question for FLYW
Christopher Svensson
Deutsche Bank AG
1 question for FLYW
Daniel Perlin
RBC Capital Markets
1 question for FLYW
Dan Perlin
RBC Capital Markets
1 question for FLYW
James Faucette
Morgan Stanley
1 question for FLYW
Jeff Cantwell
Seaport Research Partners
1 question for FLYW
Kenneth Suchoski
Autonomous Research
1 question for FLYW
Michael Infante
Morgan Stanley
1 question for FLYW
Patrick Ennis
Credit Suisse
1 question for FLYW
Tyler DuPont
Bank of America
1 question for FLYW
William Nance
The Goldman Sachs Group, Inc.
1 question for FLYW
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Sertifi | 2025 | Acquisition completed on February 24, 2025 with an upfront cash payment of $330 million, subject to post‐closing adjustments and a contingent consideration of up to $10 million; the deal also included restricted stock units worth $10 million and was partly financed using a $125 million draw from Flywire’s Revolving Credit Facility, aiming to expand Flywire’s digital payment solutions in hospitality with expected incremental revenue of $3-4 million in Q1 and $30-40 million for fiscal 2025. |
Invoiced | 2024 | Acquired on August 2, 2024 for an estimated total of $52.3 million, comprising $47.8 million in cash and up to $7.5 million in contingent consideration tied to various performance milestones; the U.S.-based SaaS platform specializing in accounts receivable automation was acquired to accelerate Flywire’s global expansion in its B2B vertical, with plans to reinvest significant adjusted EBITDA to grow the combined business. |
StudyLink | 2023 | Acquired on November 3, 2023 for an estimated total of $38.8 million (consisting of $34.9 million in cash plus up to $3.9 million in contingent consideration), StudyLink is an Australian SaaS provider for education that streamlines international student admissions; the strategic acquisition is expected to add $1 million in revenue in Q4 and between $6-7 million annually, further enabling Flywire to monetize nearly $1 billion in unmonetized deposit volume and expand its education vertical globally. |
Cohort Go | 2022 | Acquired on July 13, 2022 with a total purchase consideration of $32.8 million (or $22.9 million net of cash acquired), comprising cash, common stock, and up to $1.7 million in contingent payments based on milestone achievements; as an Australian education payments provider that simplifies student recruitment, Cohort Go’s acquisition bolstered Flywire’s agent-related revenue, expanded its Asia-Pacific footprint, and contributed significant transaction and platform revenues while integrating over 50 employees into Flywire’s global team. |
Recent press releases and 8-K filings for FLYW.
- Flywire's U.K. market has surpassed the U.S. in size and is projected to grow higher than the company average. Both U.S. and U.K. performance is meeting or exceeding expectations, while Canada remains a demand headwind.
- The Travel vertical, which grew over 50% in 2024, continues strong growth and, with the Sertifi acquisition, is expected to approach a quarter of Flywire's business next year. Sertifi itself is growing above 35% and offers significant synergies from payment monetization, international expansion, and cross-sell.
- Flywire's domestic Student Financial Services (SFS) product is gaining traction with 9 new U.S. school signings year-to-date, offering a 3 to 5x revenue multiplier. The B2B and Healthcare verticals are also experiencing multiples faster growth and high single-digit growth respectively, driven by strategic acquisitions and client wins.
- The company maintains a disciplined financial approach, expecting margins to continue to increase. Flywire has executed approximately $100 million of its $150 million share buyback program and is focused on integrating two recent acquisitions.
- Pomerantz LLP has filed a class action lawsuit against Flywire Corporation and certain officers, on behalf of investors who purchased securities between February 28, 2024, and February 25, 2025.
- The lawsuit alleges that defendants made materially false and misleading statements, overstating the strength and sustainability of revenue growth and understating the negative impact of permit- and visa-related restrictions.
- On February 25, 2025, Flywire reported a Q4 2024 loss per share of $0.12 and revenue of $117.6 million, both missing consensus estimates.
- The company also projected FY 2025 FX-neutral RLAS growth of 10-14%, a significant reduction from the previously stated low 20% range, and announced a restructuring impacting approximately 10% of its workforce.
- Following these disclosures and analyst downgrades, Flywire's stock price fell $6.59 per share, or 37.36%, to close at $11.05 per share on February 26, 2025.
- Faruqi & Faruqi, LLP is investigating potential claims against Flywire Corporation (FLYW) regarding a federal securities class action.
- The complaint alleges that Flywire made false and/or misleading statements about its revenue growth and understated the negative impact of permit- and visa-related restrictions.
- Investors who suffered losses exceeding $50,000 between February 28, 2024, and February 25, 2025, are encouraged to contact the firm, with a lead plaintiff deadline of September 23, 2025.
- This investigation follows Flywire's February 25, 2025, announcement of Q4 2024 results, which included a $15.9 million net loss, lowered 2025 guidance, and a 10% workforce reduction, leading to a 37.4% stock price drop on February 26, 2025.
- A class action lawsuit has been filed against Flywire Corporation (FLYW) on behalf of investors who purchased securities between February 28, 2024 and February 25, 2025, with a lead plaintiff motion deadline of September 23, 2025.
- The lawsuit alleges that the company made materially false and/or misleading statements, specifically overstating revenue growth and understating the negative impact of permit- and visa-related restrictions on its business.
- This legal action follows Flywire's announcement on February 25, 2025, of missed Q4 2024 estimates, citing a complex macro environment and significant deterioration in its education sector due to visa headwinds.
- In response to these challenges, the company announced a 10% workforce reduction and reduced its 2025 guidance.
- Flywire's stock price subsequently fell $6.59, or 37.4%, to $11.05 per share on February 26, 2025, after the news.
- A class action lawsuit has been filed against Flywire Corporation and certain officers, alleging materially false and misleading statements regarding the sustainability of revenue growth and the understated negative impact of permit- and visa-related restrictions on the company's business.
- The lawsuit, filed in the United States District Court for the Eastern District of New York, covers a class period from February 28, 2024, to February 25, 2025, with investors having until September 23, 2025, to seek lead plaintiff appointment.
- On February 25, 2025, Flywire reported a Q4 2024 loss per share of $0.12 and revenue of $117.6 million, both missing consensus estimates.
- The company also announced a restructuring impacting approximately 10% of its workforce and projected FY 2025 revenue less ancillary services (RLAS) growth of 10-14% (FX-neutral), a significant reduction from previous guidance.
- Following these disclosures, Flywire's stock price fell $6.59 per share, or 37.36%, to close at $11.05 per share on February 26, 2025.
- A class action lawsuit has been filed against Flywire Corporation and certain officers for alleged violations of federal securities laws during the Class Period of February 28, 2024, to February 25, 2025.
- The complaint alleges that the company overstated its revenue growth and understated the negative impact of permit- and visa-related restrictions, particularly in the education sector.
- On February 25, 2025, Flywire announced Q4 2024 results, reporting a loss per share of $0.12 and revenue of $117.6 million, both missing consensus estimates.
- For FY 2025, the company projected FX-neutral RLAS growth of 10-14%, significantly lower than previous guidance, and announced a restructuring impacting approximately 10% of its workforce.
- Following these disclosures, Flywire's stock price fell $6.59 per share, or 37.36%, to close at $11.05 per share on February 26, 2025.
- Pomerantz LLP has filed a class action lawsuit against Flywire Corporation and certain officers, alleging violations of federal securities laws.
- The lawsuit covers a Class Period from February 28, 2024, to February 25, 2025, claiming defendants made materially false and misleading statements regarding the company's revenue growth and understated the negative impact of permit- and visa-related restrictions.
- On February 25, 2025, Flywire reported a Q4 2024 loss per share of $0.12 and revenue of $117.6 million, both missing consensus estimates. The company also announced a restructuring affecting approximately 10% of its workforce and projected FY 2025 FX-neutral RLAS growth of 10-14%, significantly lower than previous guidance.
- Following these disclosures, Flywire's stock price fell $6.59 per share, or 37.36%, closing at $11.05 per share on February 26, 2025.
- Flywire Corporation reported Q2 2025 revenue of $131.9 million, a 27.2% year-over-year increase, despite a $12 million net loss.
- The company reaffirmed its 2025 full-year sales guidance and raised its margin guidance, projecting next quarter's revenue to be around $183.5 million.
- Flywire achieved an impressive 31% compounded annual growth rate in sales over the last three years and signed nearly 200 new clients in Q2 2025.
- Sell-side analysts forecast a revenue growth deceleration to about 16.8% over the next 12 months.
- A securities fraud class action lawsuit has been filed against Flywire Corporation (FLYW), with a lead plaintiff motion deadline of September 23, 2025.
- The lawsuit covers investors who purchased securities between February 28, 2024, and February 25, 2025, alleging that the company's statements regarding revenue growth and the impact of visa restrictions were materially misleading.
- This action follows Flywire's February 25, 2025, announcement of Q4 2024 results missing estimates, citing significant headwinds, reduced 2025 guidance, and a 10% workforce reduction, which led to a 37.4% stock price drop.
- Revenue & Client Growth: Flywire reported $133.5M in revenue (or $128.7M in revenue less ancillary services) with a 17% YoY increase and a 60.3% gross margin, bolstered by the addition of over 200 new clients [0,7].
- Adjusted EBITDA: The company achieved an adjusted EBITDA of $21.6M, reflecting robust performance and margin expansion [0,5].
- GAAP Financials: GAAP net loss was $4.2M, impacted by restructuring costs ($7.3M), acquisition expenses, and a $3.6M FX gain [0,4].
- Operational Enhancements: Flywire streamlined its management layers, accelerated its digital transformation, and secured key wins in education, travel, and B2B segments [1,2].
- Guidance & Outlook: The company maintained its FX-neutral revenue growth guidance of 10%–14% and expects further margin expansion [3,10].
- Capital Allocation: Ongoing share repurchases include buying 3.6M shares for ~$49M with $57M still available in the buyback program [3,5,8,9].
- Strategic Investments: Continued focus on technology integration and international expansion supports long-term growth .