Financial Data and Key Metrics - Revenue less ancillary services was $151.4 million, a 29.6% YoY increase [11] - Adjusted gross profit for the quarter was $101.9 million, up 27.2% YoY [11] - Adjusted EBITDA was $42.2 million, increasing by $14.7 million YoY, with a margin expansion of 429 basis points [11] - Total payment volume reached $11 billion, nearly double the average TPV of the prior two quarters, growing 24% YoY [41] - GAAP net income was $38.9 million, improving by $28.3 million YoY [48] Business Line Data and Key Metrics - Education vertical showed resilience despite headwinds from Canada and Australia, with strong growth in the UK and emerging markets [23][24] - Travel vertical saw new client wins, including luxury travel providers, with momentum moving upmarket [31][32] - Healthcare returned to modest YoY revenue growth, driven by new clients and deeper partner relationships [34] - B2B vertical saw organic revenue growth well above the corporate average, particularly in the insurance subvertical [36] Market Data and Key Metrics - The UK was a major growth market in education, with revenue growth accelerating YoY, driven by both new and existing clients [23][24] - Canada remains a challenging market due to restrictive immigration policies, with 2025 revenue expected to be flat compared to 2024 [28][29] - Australia's education market is smaller but faces potential moderation in growth due to emerging caps and immigration policies [30] Company Strategy and Industry Competition - The company aims to double revenue over the next several years while improving profitability and cash flow generation [6] - Flywire focuses on optimizing go-to-market capabilities, expanding its global payment network, and strengthening its FlyMate community [13][16][19] - The company continues to invest in vertical-specific solutions, such as its full suite student financial services (SFS) platform, to drive growth and market share [26][90] Management Commentary on Operating Environment and Future Outlook - Management highlighted the resilience of the business despite macro headwinds, particularly in the education sector [10] - The company expects to continue being a Rule of 40 company, balancing strong top-line growth with margin expansion and cash flow generation [12][53] - Management remains optimistic about product differentiation, business model diversity, and profitable growth opportunities across all verticals [53] Other Important Information - The company repurchased 1.3 million shares for approximately $23 million and utilized $45 million for the acquisition of Invoiced [49] - Flywire ended the quarter with $721.5 million in cash, cash equivalents, and investments, with no outstanding debt [48] Q&A Session Summary Question: Customer Adds and Vertical Growth - Over 200 net new clients were added, with travel slightly outpacing education in new client wins [56] - B2B showed notable growth, particularly in the insurance subvertical, while healthcare returned to modest growth [59] Question: Regulatory Risks in Canada and Australia - Canada's restrictive immigration policies continue to impact demand, with no expected recovery in 2025 [60][62] - Australia's growth is expected to moderate, but the market remains a growth opportunity [63] Question: Growth Algorithm and Margin Expansion - The company expects to double revenue over the next several years, with mid-20s growth and margin expansion into the 20% range [66][67] - Adjusted EBITDA margin is expected to improve by 300-600 bps annually, with a focus on cost discipline and operational efficiency [69] Question: Capital Allocation and M&A Strategy - Flywire remains focused on organic growth, strategic acquisitions, and opportunistic share buybacks [70][71] - The company prioritizes M&A that accelerates existing industry solutions, expands into new industries, and enhances client relationships [71] Question: Education Business and Emerging Markets - The education business is global, with significant opportunities in Europe, Latin America, and APAC, particularly in Mexico and Japan [84][85] Question: Student Financial Software (SFS) Monetization - SFS offers a revenue multiplier effect, with SaaS-style license revenue, payment plan revenue, and card activity revenue [90] - The company is accelerating SFS adoption through go-to-market efforts and customer events [103] Question: NRR and Retention Metrics - NRR remains strong, driven by adoption, product expansion, and expanding customer profiles, despite headwinds in Canada [95][96] Question: Healthcare Vertical Growth - Healthcare returned to growth due to new client wins and deeper partner relationships, with initiatives like Banner One driving operational benefits [111][112]

Flywire (FLYW) reported $151.4 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 29.6%. EPS of $0.30 for the same period compares to $0.08 a year ago.The reported revenue represents a surprise of +3.39% over the Zacks Consensus Estimate of $146.44 million. With the consensus EPS estimate being $0.14, the EPS surprise was +114.29%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

Financial Performance - Total payment volume increased by approximately 24% year-over-year, from $8.9 billion in Q3 2023 to $11.0 billion in Q3 2024[161] - Revenue for the nine months ended September 30, 2024, was $374.6 million, compared to $302.5 million for the same period in 2023, representing a year-over-year increase of approximately 24%[165] - Revenue for Q3 2024 was $156.8 million, a 27.2% increase from $123.3 million in Q3 2023, representing a change of $33.5 million[209] - Revenue for the three months ended September 30, 2024, was $156.8 million, a 27% increase from $123.3 million in the same period of 2023[250] - Revenue less ancillary services for the nine months ended September 30, 2024, was $361.5 million, representing a 27% growth compared to $285.3 million in 2023[250] - Adjusted EBITDA for the nine months ended September 30, 2024, was $61.2 million, up from $34.3 million in the same period of 2023, indicating a significant improvement in operational performance[234] - Adjusted EBITDA for the nine months ended September 30, 2024, was not explicitly stated but is derived from the adjustments made to GAAP figures[246] Client and Market Expansion - As of September 30, 2024, the company serves over 4,000 clients globally, including more than 2,960 educational institutions and over 100 healthcare systems[164] - The company completed the acquisition of Invoiced for approximately $52.3 million to enhance its B2B vertical and global expansion[171] - The acquisition of StudyLink for approximately $35.5 million aims to accelerate growth in the Australian higher education market[172] - The company expanded its global payments network to over 240 countries and territories, supporting more than 140 currencies[162] Income and Expenses - The company incurred a net income of $18.8 million for the nine months ended September 30, 2024, compared to a net loss of $9.9 million for the same period in 2023[165] - Net income surged to $38.9 million in Q3 2024, up 267.0% from $10.6 million in Q3 2023[209] - Income from operations for Q3 2024 was $20.3 million, a significant increase of 70.6% from $11.9 million in Q3 2023[209] - Payment processing services costs increased to $54.6 million in Q3 2024, up 27.3% from $42.9 million in Q3 2023[209] - Technology and development expenses rose to $16.7 million, a 14.4% increase from $14.6 million in the same quarter last year[209] - Selling and marketing expenses increased by 26.2% to $34.2 million compared to $27.1 million in Q3 2023[209] - General and administrative expenses were $31.1 million, reflecting a 15.6% increase from $26.9 million in Q3 2023[209] Cash Flow and Financing - Cash and cash equivalents as of September 30, 2024, totaled $565.0 million, with an additional $116.1 million in short-term available-for-sale debt securities[254] - The company completed a follow-on public offering resulting in net proceeds of $260.1 million in August and September 2023[257] - Net cash provided by operating activities increased to $132.9 million for the nine months ended September 30, 2024, compared to $20.9 million for the same period in 2023, driven by improved operating performance[263] - The company expects existing cash to support working capital needs for at least the next 12 months, with potential future capital requirements depending on various growth factors[258] - The company may seek additional equity or debt financing in the future, depending on its capital needs and market conditions[258] Tax and Profitability - The effective tax rate was (12.3)% for the nine months ended September 30, 2024, compared to (28.6)% for the same period in 2023, reflecting a non-recurring tax benefit[232] - The gross margin for the nine months ended September 30, 2024, was 62.1%, compared to 61.3% for the same period in 2023, indicating a slight improvement in profitability[234] - Adjusted gross profit for the three months ended September 30, 2024, was $101.9 million, with an adjusted gross margin of 67.3%[248] - The company reported a gross margin of 64.0% for the three months ended September 30, 2024, compared to 63.6% in the same period of 2023[248] Foreign Exchange and Interest Rate Exposure - The company has been leveraging in-house currency hedging algorithms since 2014 to mitigate volatility related to fluctuations in foreign exchange rates[278] - A potential change in foreign exchange rates of 10% from remeasurement would have impacted income (loss) before income taxes by approximately $28.0 million and $19.9 million at September 30, 2024 and December 31, 2023, respectively[282] - The company is exposed to interest rate risk related to cash and cash equivalents and available-for-sale debt securities, primarily consisting of AAA-rated money market funds[274] - An immediate 10% increase or decrease in interest rates would not have a material effect on the company's financial position, results of operations, or cash flows[274] Employee Growth - The company had a 17% increase in full-time employees, growing from 1,123 to 1,314 from September 30, 2023, to September 30, 2024[168]

Exhibit 99.1 Flywire Reports Third Quarter 2024 Financial Results Third Quarter Revenue Increased 27.2% Year-over-Year Third Quarter Revenue Less Ancillary Services Increased 29.6% Year-over-Year Boston, MA – November 7, 2024: Flywire Corporation (Nasdaq: FLYW) ("Flywire" or the "Company") a global payments enablement and software company, today reported financial results for its third quarter ended September 30, 2024. "Our third quarter results highlight our ability to capture higher payment volumes with n ...

The upcoming report from Flyware (FLYW) is expected to reveal quarterly earnings of $0.11 per share, indicating an increase of 37.5% compared to the year-ago period. Analysts forecast revenues of $146.2 million, representing an increase of 25.2% year over year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Ahead of a company's earning ...

Flyware (FLYW) closed the last trading session at $17.44, gaining 6.9% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $23.19 indicates a 33% upside potential.The mean estimate comprises 16 short-term price targets with a standard deviation of $3.23. While the lowest estimate of $18 indicates a 3.2% increase from the current price level, the most optimistic analyst expects the stoc ...

At first-ever Flywire Fusion event, Flywire's momentum in solving cross-border and domestic payments challenges was on full display More than 100 U.S. institutions are powered by the full-suite or solutions of Flywire's Student Financial Software, which is delivering meaningful ROI Product leaders and industry experts share strategies to improve retention, drive recruitment and optimize student financial for domestic and international students success BOSTON and PHOENIX, Sept. 26, 2024 (GLOBE NEWSWIRE) -- F ...

Images By Tang Ming Tung Investment summary My previous investment thought on Flywire Corporation (NASDAQ:FLYW) (published in June 2024) was a buy rating because I was bullish on its growth outlook, supported by its scale advantage, and also a clear path to expand margins. I remain confident in the fundamental outlook of the business as underlying growth metrics remain robust and there are visible growth catalysts to support near-term growth. The recent acquisition also makes FLYW a much better business wit ...

BOSTON, Aug. 26, 2024 (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 following upcoming investor conferences: On Wednesday, September 11, 2024, the Company will attend the Goldman Sachs Communacopia + Technology Conference in San Francisco, CA. They will participate in a fireside chat discussion which will begin at 3:05pm PT. On Friday, September 13, 2024, the Company ...

For the quarter ended June 2024, Flyware (FLYW) reported revenue of $99.9 million, up 25.7% over the same period last year. EPS came in at -$0.11, compared to -$0.15 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $99.59 million, representing a surprise of +0.31%. The company delivered an EPS surprise of -22.22%, with the consensus EPS estimate being -$0.09. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street ...