Flywire Corp

Listed Company

FLYWCIK 0001580560NasdaqLarge AcceleratedServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$623.02M

Net Income

$13.50M

Total Assets

$1.25B

Equity

$835.17M

Shares Out

120.09M

Op. Cash Flow

$100.17M

Business

Flywire Corp is a global payments enablement and software company that delivers complex domestic and cross-border payment solutions and automates accounts receivable for enterprise clients. It offers a next‑gen payments platform, a proprietary global payment network, vertical-specific SaaS portals, invoicing and settlement tools, and flexible payment options. Flywire serves education, healthcare, travel and B2B customers through industry-specific software, deep integrations and channel partnerships. It supports payments in over 240 countries and 140 currencies and reaches clients via direct sales, partners, ERP integrations and multilingual support.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	623	492	403	289	201
Payment processing services costs	240	177	147	108	70
Technology and development	70	67	62	50	31
Selling and marketing	157	129	108	78	51
General and administrative	135	126	108	83	62
Restructuring	9	0	0	—	—
Total costs and operating expenses	612	499	425	320	214
Income (loss) from operations	11	−7	−22	−30	−13
Interest expense	−4	−538,000	−372,000	−1	—
Interest income	6	21	13	3	0
Gain (loss) from remeasurement of foreign currency	8	−12	4	−9	109,000
Gain on available-for-sale debt securities	166,000	0	0	—	—
Total other income (expense), net	10	9	17	−7	−13
Income (loss) before income taxes	21	2	−4	−37	−26
Provision for (benefit from) income taxes	8	−1	4	2	2
Net income (loss)	13	3	−9	−39	−28
Foreign currency translation adjustment	5	−4	3	−2	−185,000
Unrealized (losses) gains on available-for-sale debt securities, net of taxes	−153,000	208,000	0	0	—
Total other comprehensive income (loss)	5	−3	3	−2	—
Comprehensive income (loss)	18	−486,000	−5	−41	−28
Net income (loss) attributable to common stockholders - basic	13	3	−9	−39	−28
Net income (loss) attributable to common stockholders - diluted	13	3	−9	−39	−28
Net income (loss) per share attributable to common stockholders - basic	0.11	0.02	−0.07	−0.36	−0.39
Net income (loss) per share attributable to common stockholders - diluted	0.11	0.02	−0.07	−0.36	−0.39
Weighted average common shares outstanding - basic	122	124	115	108	71
Weighted average common shares outstanding - diluted	128	129	115	108	71

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	330	495	655	349	385
Short-term investments	25	116	0	—	—
Accounts receivable, net of allowance of $834 and $410, respectively	35	24	18	14	13
Unbilled receivables, net of allowance of $45 and $36, respectively	21	15	11	—	—
Funds receivable from payment partners	155	90	114	63	—
Prepaid expenses and other current assets	37	23	18	18	10
Total current assets	602	763	816	451	444
Long-term investments	0	50	0	—	—
Property and equipment, net	22	17	15	13	9
Intangible assets, net	189	119	108	98	94
Goodwill	407	150	122	98	86
Other assets	33	24	19	15	7
Total assets	1,253	1,122	1,080	674	640
Accounts payable	15	15	13	13	10
Funds payable to clients	311	218	211	124	—
Accrued expenses and other current liabilities	56	49	43	34	23
Deferred revenue	20	7	7	5	5
Total current liabilities	402	290	274	177	117
Deferred tax liabilities	13	13	15	12	8
Other liabilities	3	5	4	3	2
Total liabilities	418	308	294	192	158
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred stock, $0.0001 par value; 10,000,000 shares authorized, none issued and outstanding as of December 31, 2025 and December 31, 2024	0	0	0	0	0
Voting common stock, $0.0001 par value; 2,000,000,000 shares authorized, 130,335,519 shares issued and 120,086,090 shares outstanding as of December 31, 2025; 126,853,852 shares issued and 122,182,878 shares outstanding as of December 31, 2024	13,000	13,000	11,000	10,000	10,000
Non-voting common stock, $0.0001 par value; 10,000,000 shares authorized, 1,873,320 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	0	0	1,000	1,000	1,000
Treasury voting common stock, at cost; 10,249,429 and 4,670,974 shares as of December 31, 2025 and December 31, 2024, respectively	−119	−46	−747,000	−748,000	−748,000
Additional paid-in capital	1,109	1,034	959	650	609
Accumulated other comprehensive income (loss)	2	−2	1	−2	−399,000
Accumulated deficit	−157	−171	−174	−165	−126
Total stockholders' equity	835	815	786	482	482
Total liabilities and stockholders' equity	1,253	1,122	1,080	674	640

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Unrealized (gain) loss on remeasurement of foreign currency	−12	12	2	—	—
Depreciation and amortization	26	17	16	12	9
Stock-based compensation expense	72	65	44	30	19
Amortization of deferred contract costs	2	972,000	2	2	245,000
Change in fair value of contingent consideration	−2	−978,000	380,000	−3	2
Deferred tax (benefit) provision	−1	−9	72,000	−2	146,000
Change in provision for uncollectible accounts	2	−83,000	326,000	152,000	165,000
Non-cash interest income	0	−1	0	0	—
Amortization of debt issuance costs	300,000	200,000	300,000	—	—
Net accretion of discounts and amortization of premiums on investments	−607,000	−2	0	—	—
Accounts receivable	−7	−5	−2	−323,000	−587,000
Unbilled receivables	−4	−5	−5	−2	−2
Funds receivable from payment partners	−64	23	−53	−31	−6
Prepaid expenses, other current assets and other assets	−18	−5	−5	−11	−8
Funds payable to clients	92	7	82	49	11
Accounts payable, accrued expenses and other current liabilities	5	168,000	5	7	11
Contingent consideration	−475,000	−93,000	−467,000	−5	−3
Other liabilities	−676,000	−1	170,000	−2	174,000
Deferred revenue	−2	−391,000	−1	−400,000	−159,000
Net cash provided by operating activities	100	99	76	5	17
Acquisitions of businesses, net of cash acquired	−325	−45	−33	−17	−56
Purchase of short-term and long-term investments	−16	−192	0	0	—
Proceeds from the maturity and sale of short-term and long-term investments	157	30	0	0	—
Capitalization of internally developed software	−9	−5	−5	−6	−6
Purchases of property and equipment	−1	−924,000	−1	−1	−1
Net cash used in investing activities	−194	−214	−39	−25	−63
Proceeds from issuance of revolving credit facility	125	0	0	0	26
Payment of revolving credit facility	−125	0	0	−26	−25
Proceeds from issuance of common stock under public offering, net of underwriting discount and commissions	0	0	261	0	0
Payments of costs related to public offering	0	0	−1	0	0
Payment of debt issuance costs	−758,000	−783,000	0	0	−418,000
Contingent consideration paid for acquisitions	−4	−1	−1	−4	−4
Payments of tax withholdings for net settled equity awards	−4	−797,000	−8	−3	0
Common stock repurchased	−74	−44	0	0	—
Proceeds from the issuance of stock under Employee Stock Purchase Plan	3	3	3	1	—
Proceeds from exercise of stock options	2	6	10	7	7
Deferred acquisition payment	−1	0	0	—	—
Net cash (used in) provided by financing activities	−78	−38	263	−24	328
Effect of exchange rates changes on cash and cash equivalents	8	−6	2	5	−1
Net change in cash and cash equivalents	−165	−159	303	−38	280
Purchase of property and equipment in accounts payable	10,000	16,000	14,000	36,000	0
Accrued excise tax related to common stock repurchase	349,000	451,000	0	0	—
Capitalized stock-based compensation expense	2	2	0	0	—
Cash paid for interest	3	0	0	770,000	2

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro