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FLYW

Flywire Corporation

FLYW

Flywire Corporation • NASDAQ
$13.99 ▲ 1.60% (+0.22)
Market Cap $1.68 B
52w High $23.23
52w Low $8.20
Dividend Yield 0%
P/E -699.5
Volume 487.83K
Outstanding Shares 120.25M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $200.138M ▲ $95.567M ▲ $29.631M ▲ 14.805% ▲ $0.24 ▲ $39.163M ▲
Q2-2025 $131.891M ▼ $87.009M ▲ $-12.007M ▼ -9.104% ▼ $-0.099 ▼ $2.807M ▲
Q1-2025 $133.452M ▲ $63.477M ▼ $-4.16M ▲ -3.117% ▲ $-0.034 ▲ $1.182M ▲
Q4-2024 $117.55M ▼ $81.941M ▼ $-15.899M ▼ -13.525% ▼ $-0.13 ▼ $-10.115M ▼
Q3-2024 $156.815M $81.988M $38.896M 24.804% $0.31 $34.943M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $377.344M ▲ $1.26B ▲ $430.741M ▲ $829.126M ▲
Q2-2025 $274.231M ▲ $1.114B ▲ $321.924M ▲ $792.423M ▲
Q1-2025 $255.33M ▼ $1.06B ▼ $276.083M ▼ $784.265M ▼
Q4-2024 $611.09M ▼ $1.122B ▼ $307.679M ▼ $814.767M ▼
Q3-2024 $681.126M $1.24B $396.787M $843.245M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $29.631M ▲ $150.1M ▲ $5.261M ▼ $-57.499M ▼ $105.228M ▲ $149.874M ▲
Q2-2025 $-12.007M ▼ $24.079M ▲ $41.443M ▲ $-8.022M ▼ $59.179M ▲ $21.45M ▲
Q1-2025 $-4.16M ▲ $-78.89M ▼ $-237.872M ▼ $11.639M ▲ $-304.735M ▼ $-80.387M ▼
Q4-2024 $-15.899M ▼ $-41.459M ▼ $-10.208M ▲ $-21.029M ▲ $-69.793M ▼ $-42.296M ▼
Q3-2024 $38.896M $191.124M $-143.358M $-21.244M $25.735M $190.905M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Transactions
Transactions
 $100.00M ▲$110.00M ▲$100.00M ▼$170.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Flywire’s income statement shows a business that has grown rapidly while steadily moving toward profitability. Revenue has climbed strongly each year, and gross profit has scaled alongside it, which suggests the core business model is economically attractive. Operating results have hovered around break-even, with small losses in earlier years narrowing over time. At the bottom line, the company has recently crossed into roughly break-even to slightly profitable territory, a notable improvement from earlier, more meaningful losses. The main takeaway: strong top-line growth, rising gross margins, and a company that is now operating very close to sustainably profitable levels, but still with limited cushion if growth or costs swing the wrong way.

Balance Sheet

Balance Sheet The balance sheet looks conservative and resilient. Flywire holds a sizable cash position relative to its overall size and carries essentially no financial debt, which gives it flexibility to invest and absorb shocks. Total assets have grown meaningfully over the last several years, and shareholder equity has moved from negative to clearly positive, reflecting accumulated improvements in the business. This combination—solid cash reserves, minimal leverage, and growing equity—suggests a generally healthy financial foundation with room to fund growth and weather volatility in its end markets.

Cash Flow

Cash Flow Cash flow trends are a key positive. Operating cash flow has moved from slightly negative in the early years to consistently positive more recently, indicating that the underlying business is now generating cash rather than consuming it. Free cash flow has followed a similar path, helped by relatively low capital spending needs, which is typical for a software- and network-driven model. In practical terms, Flywire does not appear dependent on continual external financing to fund its current growth plans, though its cash generation is still at an early stage and could be sensitive to shifts in client volumes or margins.

Competitive Edge

Competitive Edge Flywire’s competitive position rests on being a specialist rather than a generalist in payments. Instead of trying to process every type of transaction, it focuses on complex, high-value payments in sectors like education, healthcare, travel, and B2B. In these niches it offers deeply integrated software that handles not just the payment itself but also invoicing, reconciliation, and workflow. This vertical focus, combined with a proprietary global payments network and tight integration into clients’ existing systems, makes the solution “sticky” and harder to replace. The trade-off is concentration: success is closely tied to conditions in its chosen verticals and to its ability to stay ahead of both large payment platforms and emerging niche competitors.

Innovation and R&D

Innovation and R&D Innovation is central to Flywire’s strategy. The company blends software and payments into a single platform tailored to each industry it serves, rather than offering a one-size-fits-all gateway. It uses machine learning to automate reconciliation, speed up settlement, and flag unusual transactions, aiming to reduce manual work and improve security. Recent acquisitions have expanded its capabilities in travel and B2B receivables automation, showing a willingness to buy as well as build. Looking ahead, Flywire is working to broaden use cases within each vertical, deepen integration into client workflows, and explore newer technologies to enhance its network. The main risk is execution: integrating acquisitions, scaling new products, and continuously upgrading technology all demand disciplined investment and strong product leadership.

Summary

Overall, Flywire looks like a fast-growing, vertically focused payments and software business that has transitioned from a loss-making profile to roughly break-even with improving cash generation. Its strengths are a specialized product offering, a global payments network, strong client stickiness, and a balance sheet with ample cash and little debt. Key risks include thin current profitability, reliance on a handful of core verticals like education and travel, competitive pressure from both large payment processors and focused upstarts, and the usual regulatory and fraud risks tied to cross-border payments. If it can keep expanding within its chosen industries, successfully integrate acquisitions, and translate growth into consistently higher margins, Flywire has room to strengthen its financial profile over time—but that path is not guaranteed and depends heavily on execution and market conditions.

NEWS

November 17, 2025 · 2:50 PM UTC

Flywire to Attend Upcoming Investor Conferences

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November 4, 2025 · 4:02 PM UTC

Flywire Reports Third Quarter 2025 Financial Results

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November 3, 2025 · 9:00 AM UTC

Flywire Appoints Nicole James as Chief People Officer

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October 23, 2025 · 4:05 PM UTC

Flywire Showcases Leadership in U.S. Higher Education Sector at its Second-Annual Client Conference

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October 17, 2025 · 11:46 AM UTC

Flywire to Announce Third Quarter 2025 Results on November 4, 2025

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