Pomerantz Law Firm Announces the Filing of a Class Action Against Flywire Corporation and Certain Officers

Core Viewpoint - A class action lawsuit has been filed against Flywire Corporation and certain officers for alleged violations of federal securities laws during the Class Period from February 28, 2024, to February 25, 2025, seeking damages for misleading statements regarding the company's revenue growth and business operations [1][8]. Company Overview - Flywire operates as a payments-enablement and software company, facilitating payments across various industries, with a significant focus on the education sector [4]. - The company's financial performance is particularly reliant on international enrollments and student preferences, especially in the Americas and Asia-Pacific regions [5]. Market Challenges - The Canadian government imposed intake caps on international student permit applications starting January 2024, leading to a decrease in international students and negatively impacting Flywire's payment flows [6]. - Australia has also tightened international student visa rules, further adversely affecting Flywire's business [6]. Misleading Statements - Throughout the Class Period, Flywire's executives allegedly overstated the sustainability of revenue growth and downplayed the negative impacts of permit and visa-related restrictions on the business [7][8]. - In November 2024, executives claimed Flywire would maintain strong revenue growth, projecting FX neutral RLAS growth in the low 20% range for FY 2025, despite emerging challenges [7]. Financial Performance - On February 25, 2025, Flywire reported a Q4 2024 loss per share of $0.12 and revenue of $117.6 million, both missing consensus estimates [9]. - The company announced a projected RLAS growth of only 10-14% for 2025, significantly lower than previous expectations [10]. Analyst Reactions - Following the disappointing Q4 results and revised forecasts, multiple analysts downgraded their recommendations and cut price targets for Flywire's stock [12]. - The stock price fell by $6.59, or 37.36%, closing at $11.05 per share on February 26, 2025, reflecting market reaction to the negative disclosures [13].