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    Flywire Corp (FLYW)

    Financials

    Updated May 7, 2025, 11:30 PM UTC
    Income Statement - MetricQ2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Revenue (USD, thousands)100,545.00403,094114,103103,676156,815117,550.00492,144133,452
    Payment processing services costs (USD, thousands)36,780.00147,33941,65039,89954,55741,384.00177,49050,563
    Technology and development (USD, thousands)16,898.0062,02816,73715,83416,69517,370.0066,63616,911
    Selling and marketing (USD, thousands)28,830.00107,62130,08331,77134,22833,353.00129,43536,569
    General and administrative (USD, thousands)28,065.00107,62431,59631,95931,06531,218.00125,83833,058
    Restructuring (USD, thousands)-------7,339
    Total costs and operating expenses (USD, thousands)110,573.00424,612120,066119,463136,545123,325.00499,399144,440
    Income (Loss) from operations (USD, thousands)(10,028.00)(21,518)(5,963)(15,787)20,270(5,775.00)(7,255)(10,988)
    Interest expense (USD, thousands)(92.00)(372)(142)(133)(128)(135.00)(538)(724)
    Interest income (USD, thousands)5,638.0013,3495,8795,7194,9704,872.0021,4402,934
    Gain (Loss) from remeasurement of foreign currency (USD, thousands)7,707.004,189(4,376)9985,457(13,866.00)(11,787)3,576
    Total other income (expense), net (USD, thousands)13,253.0017,1661,3616,58410,299(9,129.00)9,1155,944
    Income (Loss) before (benefit from) provision for income taxes (USD, thousands)3,225.00(4,352)(4,602)(9,203)30,569(14,904.00)1,860(5,044)
    (Benefit from) Provision for income taxes (USD, thousands)1,938.004,2141,6154,677(8,327)995.00(1,040)(884)
    Net income (Loss) (USD, thousands)1,287.00(8,566)(6,217)(13,880)38,896(15,899.00)2,900(4,160)
    Foreign currency translation adjustment (Other comprehensive income/Loss) (USD, thousands)3,731.003,232(1,361)1934,904(7,330.00)(3,594)2,677
    Unrealized gains (losses) on available-for-sale debt securities, net of taxes (Other comprehensive income/Loss) (USD, thousands)---(53)702-208(129)
    Total other comprehensive income (Loss) (USD, thousands)3,731.003,232(1,361)1405,606(7,771.00)(3,386)2,548
    Comprehensive income (Loss) (USD, thousands)5,018.00(5,334)(7,578)(13,740)44,502(23,670.00)(486)(1,612)
    Net income (Loss) attributable to common stockholders - basic and diluted (USD, thousands)1,287.00(8,566)(6,217)(13,880)38,896(15,899.00)2,900(4,160)
    Net income (Loss) per share attributable to common stockholders - basic (USD)0.02(0.07)(0.05)(0.11)0.31(0.13)0.02(0.03)
    Net income (Loss) per share attributable to common stockholders - diluted (USD)0.03(0.07)(0.05)(0.11)0.30(0.12)0.02(0.03)
    Weighted average common shares outstanding - basic (Shares)(222,584,446.00)114,828,494123,143,343124,562,015124,887,591(248,323,129.00)124,269,820123,235,263
    Weighted average common shares outstanding - diluted (Shares)(231,572,648.00)114,828,494123,143,343124,562,015129,155,010(247,520,906.00)129,339,462123,235,263
    Balance Sheet - MetricQ2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Cash and cash equivalents (USD, thousands)---539,300565,035495,242495,242190,507
    Accounts receivable, net of allowance (USD, thousands)---20,27527,51023,70323,70333,585
    Unbilled receivables, net of allowance (USD, thousands)---13,05211,65915,45315,45311,431
    Funds receivable from payment partners (USD, thousands)---84,974130,39190,11090,11064,237
    Prepaid expenses and other current assets (USD, thousands)---21,63324,84722,52822,52831,947
    Total current assets (USD, thousands)---710,928875,533762,884762,884396,530
    Property and equipment, net (USD, thousands)---17,07417,68417,16017,16017,391
    Intangible assets, net (USD, thousands)---101,303126,966118,684118,684202,014
    Goodwill (USD, thousands)---120,657156,292149,558149,558402,715
    Other assets (USD, thousands)---22,02923,20024,03524,03523,629
    Total assets (USD, thousands)---998,7121,240,0321,122,4461,122,4461,060,348
    Accounts payable (USD, thousands)---13,50923,18215,35315,35315,069
    Funds payable to clients (USD, thousands)---116,191298,239217,788217,788106,613
    Accrued expenses and other current liabilities (USD, thousands)---43,53646,22749,29749,29753,022
    Deferred revenue (USD, thousands)---4,1837,6927,3377,33721,228
    Total current liabilities (USD, thousands)---177,419375,340289,775289,775195,932
    Deferred tax liabilities (USD, thousands)---14,74415,57312,64312,64313,216
    Long-term debt (USD, thousands)-------60,000
    Other liabilities (USD, thousands)---3,9895,8745,2615,2616,935
    Total liabilities (USD, thousands)---196,152396,787307,679307,679276,083
    Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized; no shares issued and outstanding (USD, thousands)--------
    Voting common stock, $ 0.0001 par value; 2,000,000,000 shares authorized; shares issued and outstanding (USD, thousands)---1113131313
    Non-voting common stock, $ 0.0001 par value; 10,000,000 shares authorized; shares issued and outstanding (USD, thousands)---1----
    Treasury voting common stock, shares held at cost (USD, thousands)---(741)(23,851)(46,268)(46,268)(94,489)
    Additional paid-in capital (USD, thousands)---997,0571,016,3491,033,9581,033,9581,053,289
    Accumulated other comprehensive income (loss) (USD, thousands)---995,705(2,066)(2,066)482
    Accumulated deficit (USD, thousands)---(193,867)(154,971)(170,870)(170,870)(175,030)
    Total stockholders’ equity (USD, thousands)---802,560843,245814,767814,767784,265
    Total liabilities and stockholders’ equity (USD, thousands)---998,7121,240,0321,122,4461,122,4461,060,348
    Cash Flow - MetricQ2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Net loss (USD, thousands)--------
    Depreciation and amortization (USD, thousands)--------
    Stock-based compensation expense (USD, thousands)--------
    Amortization of deferred contract costs (USD, thousands)--------
    Change in fair value of contingent consideration (USD, thousands)--------
    Deferred tax provision (USD, thousands)--------
    Bad debt expense (USD, thousands)--------
    Non-cash interest expense (USD, thousands)--------
    Changes in operating assets and liabilities: Accounts receivable (USD, thousands)--------
    Changes in operating assets and liabilities: Unbilled receivables (USD, thousands)--------
    Changes in operating assets and liabilities: Funds receivable from payment partners (USD, thousands)--------
    Changes in operating assets and liabilities: Prepaid expenses and other current assets (USD, thousands)--------
    Changes in operating assets and liabilities: Funds payable to clients (USD, thousands)--------
    Changes in operating assets and liabilities: Accounts payable, accrued expenses and other current liabilities (USD, thousands)--------
    Changes in operating assets and liabilities: Contingent consideration (USD, thousands)--------
    Changes in operating assets and liabilities: Other liabilities (USD, thousands)--------
    Changes in operating assets and liabilities: Deferred revenue (USD, thousands)--------
    Net cash used in operating activities (USD, thousands)--------
    Cash flows from investing activities: Purchases of property and equipment (USD, thousands)--------
    Net cash used in investing activities (USD, thousands)--------
    Cash flows from financing activities: Contingent consideration paid for acquisitions (USD, thousands)--------
    Cash flows from financing activities: Payments of tax withholdings for net settled option exercises (USD, thousands)--------
    Cash flows from financing activities: Proceeds from exercise of stock options (USD, thousands)--------
    Net cash (used in) provided by financing activities (USD, thousands)--------
    Effect of exchange rates changes on cash and cash equivalents (USD, thousands)--------
    Net (decrease) increase in cash, cash equivalents and restricted cash (USD, thousands)--------
    Supplemental disclosures of cash flow and noncash information: Cash paid during the period for interest (USD, thousands)--------
    Supplemental disclosures of cash flow and noncash information: Purchase of property and equipment in accounts payable (USD, thousands)--------
    Cash, cash equivalents and restricted cash, beginning of period (USD, thousands)--------
    Cash, cash equivalents and restricted cash, end of period (USD, thousands)--------
    Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents (USD, thousands)--------
    Reconciliation of cash, cash equivalents and restricted cash: Restricted cash (USD, thousands)--------
    Reconciliation of cash, cash equivalents and restricted cash: Cash, cash equivalents and restricted cash (USD, thousands)--------
    Revenue by Segment - in Millions of USDQ2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Transaction Revenue82329.795.285.3134.495.3410.2108.5
    - Less Ancillary Services14.654.015.314.8---20.6
    Platform and Other Revenues18.673.418.918.422.422.281.925.0
    Sertifi Revenue Contribution--------
    FX Neutral Revenue Less Ancillary Services-------130.7
    Total Revenue100.5403.1114.1103.7156.8117.5492.1133.5
    Revenue by Geography - in Millions of USDQ2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Americas50.72222.5857.941.9671.5650.18221.663.4
    - United States--------
    - Canada--------
    EMEA30.18120.8436.242.8763.846.03188.947.4
    - United Kingdom--------
    APAC19.7459.6720.118.8421.4621.381.722.6
    Other--------
    Total Revenue100.53403.09114.1103.68156.82117.5492.1133.5
    KPIs - Metric (Unit, Scale)Q2 2021Q3 2021FY 2021Q1 2022Q2 2022Q3 2022Q4 2022FY 2022Q1 2023Q2 2023Q3 2023Q4 2023FY 2023Q1 2024Q2 2024Q3 2024Q4 2024FY 2024Q1 2025
    Transaction payment volume (USD millions)-17,670.37,000.011,800.08,776.1-23,207.6-
    Platform and other revenues payment volume (USD millions)-6362.52000-2234.7-6507.7-
    Total payment volume (USD millions)-24,032.87,00011,80011,010.8-29,715.3-
    Annual net dollar-based retention rate (percentage)-125----114-
    Number of total clients around the world (count)-3800400040004000-4500-
    Number of education institutions (count)-2,8002,8502,9502,960-3,100-
    Number of healthcare systems (count)-909090100-100-
    Number of travel and B2B clients (count)-900100011001200-1300-