Group 1 - Flywire Corporation has attracted new investment from Ararat Capital Management, which acquired 774,864 shares valued at approximately $10.5 million, indicating renewed interest after years of stock declines [1][2] - Flywire now represents 5.6% of Ararat's reportable assets under management, although it is not among the top five holdings of the fund [3] - The company's stock price is currently $13.63, reflecting a 38% decline over the past year, contrasting with the S&P 500's 13% increase during the same period [3] Group 2 - Flywire has a market capitalization of $1.7 billion and reported a total revenue of $583 million, with a net income of -$2.4 million [4] - The company specializes in cross-border payment solutions, leveraging a proprietary platform to facilitate global transactions for various sectors, including education, healthcare, travel, and B2B [4][6] - Flywire reported a 27.6% year-over-year revenue growth to $200.1 million, with adjusted EBITDA of $57.1 million and a margin of 29.4%, which is an increase of 155 basis points from the previous year [7] Group 3 - The company added over 200 new clients and raised its full-year revenue and margin guidance due to stronger-than-expected macro conditions [7] - Flywire's growth is characterized by expanding margins and significant operating leverage, making it a potentially compelling long-term investment despite stock volatility [8]

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PresentationUnknown Executive Good afternoon, ladies and gentlemen. Thank you very much for participating in the MS&AD Insurance Group Holdings Fiscal Year 2025 Second Information Meeting today. I am Hayashi from the IR department, and I will serve as a host and moderator. Thank you for your attention. Before we begin, I'd like to provide guidance regarding the audio and materials. The original audio will be in Japanese. [Operator Instructions] Today's materials are available on our official website. Plea ...

Summary of Flywire Conference Call Industry Overview - **Industry**: Cross-border education, domestic education, travel, healthcare, and B2B payments - **Company**: Flywire (NasdaqGS:FLYW) Key Points and Arguments Cross-Border Education Market - **International Student Enrollment**: New international student enrollment in the U.S. decreased by 17% year-over-year, slightly better than Flywire's expectation of a 20% decline [4][5] - **Higher Tuition Programs**: Performance in high-ticket programs (undergraduate) is better than lower-cost programs, contributing to a more favorable outcome in first-year payers [5] - **Retention Rates**: Improved retention rates among existing students are positively impacting overall business performance [5][6] - **Revenue Guidance**: Flywire's U.S. education business is expected to grow in the low single digits due to these dynamics [6] Revenue Growth Headwinds - **Geographical Impact**: Mid-single-digit revenue headwinds are anticipated from Canada, Australia, and the U.S. for 2025, with Canada being the largest contributor to this impact [9][10] - **Revenue Estimates**: The U.S. business generated approximately $80 million last year, with expectations of a more significant negative impact next year if trends do not improve [10][11] U.K. Market Insights - **Visa Trends**: U.K. visas for international students are flat to slightly up, with no significant negative impact from the political climate [14][15] - **Immigration Policy**: The U.K. is taking a balanced approach to immigration, which is beneficial for attracting international students [15] Cross-Border Payments - **WPM Integration**: Flywire is still in the early stages of monetizing the WPM acquisition, with only 12 clients in the U.K. processing 90% of their volume through Flywire [17][18] - **Growth Potential**: There is significant room for growth in cross-border payments, particularly as Flywire aims to integrate more schools into its system [18][20] Domestic Education Market - **Competitive Landscape**: Flywire competes with three incumbents in the U.S. domestic education market, leveraging its cloud-based software and vendor consolidation capabilities [26][27] - **Client Wins**: Winning larger institutions like Stanford and Penn State is expected to catalyze further client migrations [29][30] Travel Segment - **Growth Drivers**: The luxury travel segment is growing, driven by new client acquisitions and operational efficiencies [35][36] - **Market Position**: Flywire's software capabilities are crucial for managing complex travel transactions, enhancing its value proposition [36] Healthcare Vertical - **Cleveland Clinic Partnership**: The partnership with Cleveland Clinic is seen as a lighthouse client that could accelerate growth in the healthcare vertical [41][42] - **Growth Expectations**: Healthcare is expected to grow in the low teens this year, with potential for acceleration next year [42][43] Financial Performance and Profitability - **EBITDA Margin**: Flywire aims for a long-term EBITDA margin of over 25%, with indications of mid-30s incremental margins for the upcoming year [46][47] - **Cost Management**: The company plans to manage operating expenses effectively to ensure profitability [46][47] Student Retention Trends - **Retention Drivers**: Improved student retention is attributed to better user experience and relationships with banks in key markets like India [49][50] B2B Payments - **Invoice Acquisition**: The acquisition of invoice capabilities is expected to open up a $1 billion volume opportunity, enhancing Flywire's B2B offerings [52][53] Additional Important Insights - **Market Dynamics**: The company is observing a shift in international student flows as countries outside the Big Four are becoming more welcoming to international students [21][22] - **Software Integration**: Integrations with student information systems are not gating factors but can accelerate client acquisition [31][32] This summary encapsulates the key insights and data points discussed during the Flywire conference call, providing a comprehensive overview of the company's current market position and future outlook.

Flywire builds on existing partnership with Weixin Pay (also known as WeChat Pay) to improve payment experience for Chinese students studying in South Korea and Malaysia Partnership underscores Flywire’s ongoing product & payment innovation and extends its footprint in growing education markets in Asia BOSTON and SHENZHEN, China, Dec. 03, 2025 (GLOBE NEWSWIRE) --  Flywire Corporation (Flywire) (Nasdaq: FLYW), a global payments enablement and software company, today announced that it has partnered with TenPa ...

Core Viewpoint - Voss Capital's third-quarter 2025 investor letter indicates a significant underperformance of its funds compared to major indices, while expressing strong conviction in Flywire Corporation as a key investment opportunity due to its improving fundamentals and growth potential [1][2][3] Fund Performance - Voss Value Fund, LP and Voss Value Offshore Fund, Ltd returned +5.0% and +4.9% respectively in Q3 2025, underperforming the Russell 2000 Index (+12.4%), Russell 2000 Value Index (+12.6%), and S&P 500 Index (+8.3%) [1] - The Voss Value Master Fund had a total gross exposure of 205.4% and a net long exposure of 95.8% as of September 30, 2025 [1] - The top 10 long positions accounted for 77.8% of the fund, while the top 10 short positions represented -43.5% [1] Flywire Corporation Analysis - Flywire Corporation (NASDAQ:FLYW) is highlighted as a significant investment, representing approximately 10% of Voss Capital's portfolio, making it the largest position [3] - Despite a one-month return of -0.22% and a 39.30% decline over the past 52 weeks, Flywire's fundamentals are improving, with an ~8% revenue beat in the most recent quarter [2][3] - The company is experiencing a divergence between its stock price and fundamentals, presenting a buying opportunity [3] Market and Growth Potential - Concerns regarding international student enrollment caps affecting Flywire's revenue are deemed overstated, with a projected 2% revenue impact from a severe 25% decline in first-year US students [3] - Flywire's UK business is growing at ~40%, countering claims of limited growth potential [3] - New integrations with major ERP systems are expanding the Total Addressable Market (TAM) for Flywire's Student Financial Services platform, enhancing revenue opportunities [3] - The healthcare segment is expected to accelerate significantly in 2026 due to large contract wins, and the emerging B2B business is growing over 70% for the second consecutive year [3]

BOSTON, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Flywire Corporation (Nasdaq: FLYW)("Flywire" or the “Company") a global payments enablement and software company, today announced that the Company will be attending the UBS Global Tech and AI conference in Phoenix, AZ. The fireside chat is scheduled for 7:35 am MST. The fireside chat discussions will be webcast live from Flywire’s investor relations website at https://ir.flywire.com/. A replay of the webcasts will be available on the investor relations website for 9 ...

Flywire FY Conference Summary Company Overview - **Company**: Flywire (NasdaqGS:FLYW) - **Industry**: Payments and Fintech - **Key Verticals**: Education, Healthcare, Travel, B2B Core Insights and Arguments 1. **Strategic Transformation**: Flywire has evolved from a cross-border, education-focused business to a unified platform integrating software and payments, with significant diversification into travel, healthcare, and B2B sectors [2][3][4] 2. **Profitability and Scale**: The company has achieved nearly 20% margins, with expectations to exceed this in the coming year, indicating improved profitability and operational efficiency [4][11] 3. **Software as a Differentiator**: Flywire emphasizes that its software capabilities are foundational to its competitive edge, allowing deeper integration into clients' systems and enhancing long-term relationships [5][7][8] 4. **Operational Leverage**: The company has seen operational leverage gains, particularly in go-to-market strategies and product engineering, leading to improved margins as revenue scales [9][10][11] 5. **Market Dynamics**: The UK has overtaken the US as Flywire's largest market, contributing approximately 25% of revenue, with the US at 23%. The company is also expanding into continental Europe and Asia [12][14][18] 6. **Growth in Education Vertical**: Despite challenges in the US market, Flywire's education segment continues to grow, with non-big four markets growing faster than the company average [21][29][30] 7. **Domestic Business Expansion**: The domestic business in the US is growing rapidly, with a revenue of approximately $30 million last year, driven by modernization and vendor consolidation in universities [49][55] 8. **Student Financial Services (SFS)**: The SFS platform is a significant growth driver, offering schools a consolidated vendor solution that enhances economic efficiency and client stickiness [60][70][72] 9. **Travel Segment Growth**: Travel now represents a quarter of Flywire's revenue, with significant growth attributed to effective sales strategies and product resonance in the luxury travel market [85][91][101] 10. **B2B and Healthcare Verticals**: B2B is still small but growing rapidly at nearly 70%, while healthcare is expected to ramp up significantly with major clients like Cleveland Clinic [113][118][120] Additional Important Insights 1. **M&A Strategy**: Flywire's M&A strategy focuses on acquiring software companies to monetize payments, which has proven effective in driving growth [4][115] 2. **Market Challenges**: The company faces macroeconomic headwinds, particularly in Canada and the US, but maintains a positive outlook for growth in other regions [30][36][42] 3. **Future Outlook**: Flywire anticipates continued margin expansion and revenue growth, with a focus on maintaining operational efficiency and client retention [128][136] 4. **Stablecoin Partnership**: The partnership with BVNK for stablecoin transactions is seen as an incremental opportunity to expand into new markets and offer clients more payment options [144][150] This summary encapsulates the key points discussed during the Flywire FY Conference, highlighting the company's strategic direction, market performance, and future growth opportunities.

Group 1 - The company has been consistently acquiring around 200 clients per quarter, indicating a stable growth trajectory [1] - Client acquisition is diversified across four verticals, with travel and education being the largest contributors, showcasing a balanced portfolio [1] - The company is experiencing an increase in the size and strategic nature of deals, indicating a shift towards more significant and long-term relationships [1]

Flywire FY Conference Summary Company Overview - **Company**: Flywire (NasdaqGS:FLYW) - **Date of Conference**: November 18, 2025 Key Points Industry and Market Dynamics - **Client Acquisition**: Flywire signed over 200 clients in the quarter, maintaining a consistent pipeline across four verticals: travel, education, B2B, and healthcare [2][3] - **Revenue Sources**: The revenue growth is driven by both new client signings and existing clients, with a notable "land and expand" strategy in the education sector [4] - **Geographic Diversification**: The client base is diversified across various geographies, with significant contributions from both domestic and international markets [2][3] Vertical Performance - **Education Sector**: - Remains the largest vertical for Flywire, with strong growth in both traditional markets (U.S., U.K.) and emerging markets [5][10] - The U.S. education business is growing, with domestic revenue around $30 million last year, offsetting international pressures due to visa issues [9][10] - Non-Big Four markets are gaining traction, contributing to low to mid-teens share of overall revenue, growing above company average [20][21] - **Travel Sector**: - Expected to account for nearly a quarter of the business next year, with Certify integration driving growth [23][27] - Certify is growing over 30% year-over-year, with synergies expected to materialize in 2026 [23][27] - **Healthcare Sector**: - Significant growth anticipated with marquee clients like Cleveland Clinic, expected to accelerate revenue beyond low teens growth [28][29] - The healthcare vertical is transitioning from a drag on growth to a significant growth driver [29][30] Financial Performance and Guidance - **Revenue Growth**: Flywire is guiding for about 15% growth in fiscal year 2025, despite mid-single-digit headwinds primarily from Canada [14][15] - **Profitability**: The company expects gross margin pressure but aims for adjusted EBITDA margin expansion and GAAP profitability growth [34][35] - **Capital Allocation**: Focus remains on organic investments, with share buybacks being opportunistic due to stock price dislocation [36] Strategic Initiatives - **AI and Technology**: Flywire is investing in AI capabilities to enhance client services and internal efficiencies, with a focus on unique data applications across various sectors [31][32] - **Real-Time Payments**: The partnership with BVNK aims to leverage stablecoins for entering volatile currency markets, providing clients with more payment options [33] Risks and Considerations - **Visa and Immigration Policies**: Ongoing macro headwinds from visa policies are expected to impact revenue growth, particularly in the U.S. and Canada [14][17] - **Market Trends**: The company is monitoring trends in student applications to non-traditional markets, which may present new growth opportunities [20][21] Conclusion - Flywire is positioned for continued growth across its verticals, with a strong focus on client acquisition, technological innovation, and strategic partnerships. The company is navigating macroeconomic challenges while maintaining a disciplined approach to growth and profitability.