Core Insights - Flywire Corporation is establishing itself as a vital partner for U.K. educational institutions by enhancing operational efficiency and student financial confidence through its Student Financial Software (SFS) [1][2] Group 1: Operational Efficiency - Flywire's SFS is enabling U.K. institutions to automate the entire student financial journey, which leads to high security levels and improved student experiences, ultimately boosting institutional financial stability [1] - The SFS solution integrates with existing receivables systems, providing a unified portal for students to manage their accounts, make payments, and enroll in payment plans, thus reducing manual work for administrators [2] Group 2: Innovation and Development - Flywire is committed to ongoing investment and innovation in SFS, with integrations across various platforms such as Unit4, Ellucian Banner, and Oracle PeopleSoft, and further developments with Oracle Fusion [3] - The incorporation of AI into product development has significantly reduced development time, with issue resolution now taking under 90 minutes and payment processing times decreased by 20% [4] Group 3: Client Success Stories - Flywire recognized several U.K. universities for their innovative use of SFS, including Lancaster University for eStore Excellence and the University of Greenwich for successful implementation, which resulted in 10,000 payment plans completed shortly after launch [5][10] - The University of Kent achieved ongoing PCI DSS compliance and improved payment security by migrating key payments to Flywire and outsourcing to trusted third parties [6] Group 4: Collaboration and Partnerships - Institutions like Kingston University London and the University of Oxford played crucial roles as development partners, contributing to the successful launch of Flywire's Financial Aid Disbursement solution in the U.K. market [10]

Financial Data and Key Metrics Changes - In Q4 2025, revenue reached $152.7 million, growing 32.6% on an FX neutral basis, with FX neutral organic growth of 20% excluding Sertifi [23][24] - Adjusted gross profit was $93.7 million, up nearly 24% year-over-year, with an adjusted gross margin of 61.3% [25] - Adjusted EBITDA margin expanded to 16.6%, increasing 190 basis points year-over-year [25] Business Line Data and Key Metrics Changes - Education revenue is primarily driven by enterprise clients, with revenue churn below 1% [7][17] - Travel revenue is growing significantly, with payment volume nearly doubling year-over-year since the Sertifi acquisition [19] - Healthcare solutions are expanding, with new client wins such as Jackson Health System and Cleveland Clinic [20] Market Data and Key Metrics Changes - Approximately 90% of education revenue and over 70% of travel revenue come from enterprise clients [7] - More than 50% of new education clients in 2025 were signed outside traditional Big Four markets, with revenue from these markets growing over 30% year-over-year [18][22] - The company expects U.S. education revenue to grow low single digits, with cross-border revenue modestly down due to visa assumptions [29] Company Strategy and Development Direction - The company is focused on transforming into a more scalable and efficient organization, emphasizing product and platform innovation [11][12] - A unified modular architecture is being developed to increase development velocity and support margin expansion [12] - The strategy includes targeting larger clients and higher value deals, enhancing sales productivity and lifetime value per client [13][22] Management's Comments on Operating Environment and Future Outlook - Management remains prudent regarding macroeconomic conditions, particularly in the U.S. and Australia, with a focus on maintaining strong execution [39][41] - The company anticipates continued growth in 2026, with revenue growth expected to be approximately 15%-21% on an FX neutral basis [27] - Management expects to achieve 24%-25% adjusted EBITDA margin for 2027, supported by disciplined expense management and capital allocation [32] Other Important Information - The company has a strong balance sheet with a $200 million net cash position and has deployed $118 million towards share buybacks [26] - The focus on AI and automation is expected to enhance operational efficiency and support long-term growth [15][26] Q&A Session Summary Question: Insights on U.S. and Australia macro assumptions - Management emphasized a prudent approach to visa assumptions, noting a 30% expected decline in U.S. first-year visas while observing strong retention and higher tuition payments [39][40] Question: Details on SFS and non-Big Four opportunities - Management reported a threefold increase in ARR from SFS, with strong pipeline opportunities, particularly in the U.S. and U.K. [42][44] Question: Growth in larger deals and ARR per transaction - Management confirmed growth in average deal size across various verticals, targeting larger clients and full suite presentations [47][48] Question: M&A opportunities and capital allocation - Management indicated a focus on disciplined capital deployment, including share buybacks and monitoring potential M&A opportunities that fit their core strategy [50][51] Question: Performance in Canada and overall guidance - Management highlighted strong execution in Canada despite visa declines, with expectations for continued growth driven by client wins [54][56] Question: Travel segment outlook and resource allocation - Management expects travel to grow at or above company average, with significant investments in sales and Sertifi expansion [60] Question: Demand for stablecoin and internal use cases - Management confirmed active testing and processing of stablecoin payments, with hopes for future growth in demand [63] Question: Gross margins and domestic payments impact - Management acknowledged temporary pressure on gross margins due to payment processing ramps but expects normalization in the future [67][70] Question: Healthcare segment growth expectations - Management noted positive signals from recent healthcare wins, particularly with Cleveland Clinic, which is expected to enhance market positioning [74] Question: Education growth outside Big Four markets - Management confirmed significant share gains in non-Big Four markets, with a focus on organizing sales teams to capitalize on these opportunities [77]

Financial Data and Key Metrics Changes - In Q4 2025, revenue reached $152.7 million, growing 32.6% on an FX neutral basis, with FX neutral organic growth of 20% excluding Sertifi [22][23] - Adjusted gross profit was $93.7 million, up nearly 24% year-over-year, with an adjusted gross margin of 61.3% [24] - Adjusted EBITDA margin expanded to 16.6% in Q4, exceeding guidance and reflecting a 190 basis point year-over-year increase [25][26] - Free cash flow generation increased significantly from $5 million in 2021 to $62 million in 2025, demonstrating capital efficiency [9] Business Line Data and Key Metrics Changes - Education revenue is primarily driven by enterprise clients, with over 90% of education revenue coming from clients generating more than $100,000 in the last 12 months [6] - Travel revenue also shows strong performance, with significant growth attributed to enterprise clients and deeper integrations [16] - The healthcare segment is expanding, with notable wins such as Jackson Health System and Cleveland Clinic, indicating strong demand for integrated solutions [19] Market Data and Key Metrics Changes - Revenue from new education clients outside the traditional Big Four markets grew more than 30% year-over-year, with over 50% of new clients signed in 2025 coming from these regions [17][80] - The company expects U.S. education revenue to grow low single digits, while Canadian education revenue is projected to exceed 10% year-over-year growth despite visa headwinds [29] Company Strategy and Development Direction - The company is focused on transforming into a more scalable and efficient organization, emphasizing product and platform innovation, and building a scalable enterprise growth engine [10][11] - The strategy includes deepening integrations into client workflows and expanding the use of AI to enhance productivity and reduce friction [7][10] - The company aims to balance revenue growth with gross profit expansion and disciplined capital allocation, shifting focus from pure revenue to gross profit growth and GAAP profitability [9][10] Management's Comments on Operating Environment and Future Outlook - Management remains prudent regarding macroeconomic conditions, particularly in the U.S. and Australia, while expressing confidence in the company's ability to navigate challenges [38][39] - The outlook for 2026 includes expectations of 15%-21% FX neutral revenue growth, with a focus on expanding gross profit dollars despite anticipated margin pressures from payment processing ramps [27][28] Other Important Information - The company has a strong balance sheet with a $200 million net cash position and has deployed $118 million towards share buybacks [26] - The company is committed to maintaining disciplined capital allocation, focusing on growth and share buybacks, especially given current valuation levels [26][52] Q&A Session Summary Question: Insights on U.S. and Australia macro assumptions - Management emphasized a prudent approach to visa assumptions, particularly in the U.S., where they expect a 30% decline, while noting strong retention and higher tuition payments [38][39] Question: Details on SFS and its impact on 2026 numbers - Management reported a threefold increase in ARR from SFS, with strong pipeline opportunities, particularly in the U.S. and U.K. [43][44] Question: Expectations around healthcare growth following Cleveland Clinic wins - Management highlighted the significance of the Cleveland Clinic deal as a signal to the healthcare market, with positive pipeline expansion expected [75][76] Question: Performance in Canada and overall guidance variables - Management noted strong execution in Canada despite visa declines, attributing growth to client wins and domestic payment expansion [54][56] Question: Travel segment outlook and resource allocation - Management expects travel to grow at or above company average, with investments in the sales team and Sertifi's global expansion [61][62]

4Q 2025 Earnings Supplement February 24, 2026 Disclosures This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this presentation, including statements regarding the outcome of the operational and portfolio reviews, the costs, cash outlays, benefits, timing and financial impacts of the actions that ...

Core Insights - Flywire Corporation reported a strong fourth quarter with a revenue increase of 34.0% year-over-year, reaching $157.5 million, compared to $117.6 million in the same quarter of the previous year [4] - The company achieved a gross profit of $90.7 million, resulting in a gross margin of 57.6%, down from 63.2% in the prior year [4] - Flywire's net income was near break-even in Q4 2025, a significant improvement from a net loss of $15.9 million in Q4 2024 [4] - Total payment volume increased by 35.6% to $9.3 billion, with a notable contribution from the Sertifi acquisition [4] - The company provided guidance for 2026, expecting revenue growth of 15% to 21% on a foreign exchange-neutral basis [7] Financial Performance - Revenue less ancillary services increased by 35.3% to $152.7 million in Q4 2025, compared to $112.8 million in Q4 2024 [4] - Adjusted gross profit rose to $93.7 million, up 23.9% from $75.6 million in the previous year, with an adjusted gross margin of 61.3% [4] - Adjusted EBITDA increased to $25.4 million, with an adjusted EBITDA margin of 16.6%, reflecting a year-over-year increase of approximately 190 basis points [4] Business Highlights - Flywire secured approximately 750 new customer wins across 52 countries, maintaining a sub-1% revenue churn rate in its core Education and Travel verticals [9] - The company optimized its revenue streams, with 80% of Education and 70% of Travel revenue derived from large-scale enterprise institutions [9] - Flywire achieved "Workday Certified" status for its Global Payments and Student Financial Software (SFS), enhancing its market position [9] Strategic Outlook - The company anticipates continued durable demand across its verticals, supported by disciplined cost management and structural operating leverage [7] - Flywire's leadership team has been strengthened with key appointments aimed at driving strategic growth and commercial excellence [9] - The company is integrating with Oracle Fusion to unlock new growth opportunities in the UK education market [9]

Core Insights - Flywire is positioned as a vital partner for U.S. higher education institutions, helping them enhance revenue and student success amid changing federal policies and enrollment pressures [1][2] - The Flywire Student Financial Software (SFS) is delivering significant ROI by automating processes and protecting enrollment revenue, with institutions reporting improved working capital cycles and reduced operational burdens [2][3] Financial Performance and Metrics - Institutions utilizing Flywire's SFS have experienced a drop in default rates from as high as 34% to as low as 1% due to self-service, accurate, and intuitive payment plans [2] - Flywire has activated over 827,000 payment plans since inception, collected over $360 million in past-due tuition, and achieved more than $72 million in pre-collection savings for partner institutions [5] Institutional Adaptation and Innovation - Keynote speakers emphasized the need for institutions to adapt to demographic and market shifts, diversify student populations, and create sustainable revenue streams to remain competitive [4] - Flywire's commitment to innovation is evident in its ability to meet the evolving needs of institutions across the U.S. higher education landscape [3] Client Success Stories - Southern Methodist University processed nearly 25,000 transactions and collected over $1.5 million in past-due debt shortly after implementing SFS [8] - Central Washington University saw its payment plan default rate drop dramatically from 34% to less than 1% after implementing SFS Collection Management [8] - Purdue University recovered over $7 million and resolved more than 70% of accounts since implementing SFS Collection Management [8] Awards and Recognition - Flywire recognized several institutions for their achievements in leveraging innovation to drive efficiency and improve student experiences during the Flywire Fusion event [6][8] - Citi was awarded the inaugural 2025 Partner of the Year for its long-standing partnership with Flywire, supporting its strategic growth [8]

Core Insights - Flywire Corporation has expanded its partnership with Workday, integrating its payment and software platform with Workday Student to enhance the management of student payments for higher education institutions [1][3] Group 1: Integration Benefits - The integration streamlines billing and payment processes for institutions using Workday Student, improving administrative efficiency and reducing manual work [1][2] - Flywire's integration allows institutions to offer a wide range of payment options directly within the Workday Student interface, enhancing the payment experience for students and families [3][4] - Real-time data synchronization ensures that students and families have access to the most current account information, significantly reducing billing inquiries to administrative teams by up to 40% [4][5] Group 2: Enhanced Features - Flywire's solution includes automatic posting of payment updates back to Workday Student, providing administrators with a comprehensive view of student financial activity [5] - The integration supports 529 disbursements, automating payment processing and improving efficiency by eliminating the need for paper checks [5] - Flywire offers around-the-clock multilingual support in over 30 languages, enhancing the service experience for students and institutions [7] Group 3: User Experience Improvements - Customized payment portals capture all relevant student identification data, ensuring accurate identification of payments received [8] - The streamlined student experience allows students to view their account balance and make payments in a single workflow, reducing inquiries [8] - The integration has led to faster reconciliation and fewer manual interventions, improving the overall payment experience for students [9]

Core Insights - Flywire Corporation has enhanced its Student Financial Software (SFS) solution with real-time integration into leading ERP systems Unit4 (Agresso) and Banner, aimed at improving the U.K. higher education sector [1][4] - The new SFS implementations provide real-time student account information and payment capabilities, addressing the unmet needs of U.K. institutions for a unified student portal [2][3] Group 1: SFS Solution Enhancements - Flywire's SFS solution now features real-time account presentment and payment capabilities, allowing U.K. institutions to automate and manage U.S. loan disbursement processes [1][4] - The solution addresses challenges faced by U.K. institutions, such as providing accurate account balances and flexible payment plans, while reducing manual administrative tasks [2][10] Group 2: Client Implementations and Feedback - Kingston University successfully deployed Flywire's SFS solution, enhancing the student payment experience and improving back-office efficiencies [5][6] - The implementation led to increased student satisfaction and allowed staff to focus on more meaningful engagement with students [6][7] Group 3: U.S. Loan Management Solution - Flywire introduced an enhanced solution for managing U.S. loans for students in the U.K., automating complex workflows for inbound loan funds [8][9] - The updated solution provides comprehensive capabilities for institutions to securely receive and reconcile U.S. loan payments, improving efficiency and transparency [11][12]

Core Insights - Flywire Corporation reported a 27.2% year-over-year increase in revenue for the second quarter of 2025, reaching $131.9 million, compared to $103.7 million in the same quarter of 2024 [1][4] - The company reaffirmed its revenue guidance for fiscal year 2025 and raised its adjusted EBITDA margin guidance by 75 basis points at the midpoint [1][5] - The total payment volume increased by 22% to $5.9 billion in the second quarter of 2025, compared to $4.9 billion in the same quarter of 2024 [7] Financial Performance - Revenue less ancillary services increased by 27.7% to $127.5 million in the second quarter of 2025, compared to $99.9 million in the second quarter of 2024 [7] - Adjusted EBITDA rose to $16.6 million in the second quarter of 2025, compared to $5.8 million in the second quarter of 2024, with adjusted EBITDA margins increasing over 700 basis points year-over-year to 13% [7] - The net loss for the second quarter of 2025 was $12.0 million, an improvement from a net loss of $13.9 million in the second quarter of 2024 [4][7] Business Highlights - The company signed nearly 200 new clients across all verticals, excluding the added Sertifi properties and Invoiced software accounts [4] - Flywire was recognized by luxury travel network Virtuoso as a Technology Partner, gaining access to 2,300 preferred suppliers across 100 countries and $35 billion in annual luxury travel sales [4] - The company deepened its partnership with Ellucian, deploying new integrations to streamline implementations for educational institutions globally [4] Strategic Initiatives - Flywire signed a partnership with a leading provider of stablecoin payment infrastructure to integrate stablecoin payment capabilities into its global payment network [5] - The company has increased its revolving credit facility from $125 million to $300 million with improved terms, enhancing its liquidity position [7] - Flywire's share repurchase program has been increased by $150 million, bringing total authorization for future share repurchases to approximately $200 million [7] Guidance and Outlook - For fiscal year 2025, Flywire anticipates FX-neutral revenue less ancillary services growth of 17-23% year-over-year, with adjusted EBITDA margin growth of 200-350 basis points [6] - The company expects third-quarter FX-neutral revenue less ancillary services growth of 13-21% year-over-year [6]

Core Insights - Flywire Corporation has enabled over 100 U.S. colleges and universities to collect more than $320 million in past-due tuition, helping to retain over 161,000 at-risk students [1][2] - The adoption of Flywire's Student Financial Software (SFS) is driven by the need for U.S. higher education institutions to create sustainable revenue streams and improve student affordability through dynamic payment plans [2] - Flywire's Collection Management offering has proven to be cost-effective, helping institutions avoid the average 20% fee associated with sending students to collections [2] Company Solutions - Flywire's SFS includes features such as automated communications and payment plans, which have helped Purdue University recover over $1 million in revenue and save more than 300 students from collections [2][3] - The company has digitized over $2 billion in tuition payments through its 529 disbursement solution, eliminating the manual processing of over 502,000 checks for U.S. institutions [3] - Flywire's third-party invoicing solution enhances the payment experience for sponsors paying student tuition and fees, further streamlining the payment process [3] Partnerships and Integrations - Flywire has partnered with leading education technology providers to enhance its offerings, including tuition insurance through GradGuard and streamlined payment experiences through BlackBaud [5] - The company integrates with major ERP systems like Ellucian and NetSuite, improving operational efficiency for educational institutions [4][8] - Flywire supports over 4,600 clients globally, providing diverse payment methods in more than 140 currencies across over 240 countries [9]