Flywire Corp Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Flywire Corp has an operating margin of -1.5%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -5.3% the prior year.
Flywire Corp's revenue surged 22.1% year-over-year to $492.1M, reflecting rapid business expansion. This strong growth earns a score of 92/100.
Flywire Corp carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.63, Flywire Corp holds $2.63 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 85/100.
Flywire Corp converts 18.4% of revenue into free cash flow ($90.5M). This strong cash generation earns a score of 92/100.
Flywire Corp generates a 0.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 1/100.
Flywire Corp passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Flywire Corp generates $31.54 in operating cash flow ($91.5M OCF vs $2.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Flywire Corp earns $-13.5 in operating income for every $1 of interest expense (-$7.3M vs $538K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Flywire Corp (FLYW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Flywire Corp generated $492.1M in revenue in fiscal year 2024. This represents an increase of 22.1% from the prior year.
Flywire Corp's EBITDA was $10.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 275.7% from the prior year.
Flywire Corp generated $90.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 13.7% from the prior year.
Flywire Corp reported $2.9M in net income in fiscal year 2024. This represents an increase of 133.9% from the prior year.
Flywire Corp earned $0.02 per diluted share (EPS) in fiscal year 2024. This represents an increase of 128.6% from the prior year.
Flywire Corp held $495.2M in cash against $0 in long-term debt as of fiscal year 2024.
Flywire Corp had 122M shares outstanding in fiscal year 2024. This represents an increase of 1.2% from the prior year.
Flywire Corp's operating margin was -1.5% in fiscal year 2024, reflecting core business profitability. This is up 3.9 percentage points from the prior year.
Flywire Corp's net profit margin was 0.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 2.7 percentage points from the prior year.
Flywire Corp's ROE was 0.4% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.
Flywire Corp invested $66.6M in research and development in fiscal year 2024. This represents an increase of 7.4% from the prior year.
Flywire Corp invested $924K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 8.4% from the prior year.
FLYW Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $200.1M+51.7% | $131.9M-1.2% | $133.5M+13.5% | $117.5M+13.4% | $103.7M-9.1% | $114.1M+13.5% | $100.5M-18.5% | $123.3M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $17.6M+3.2% | $17.1M+1.2% | $16.9M-2.6% | $17.4M+9.7% | $15.8M-5.4% | $16.7M-1.0% | $16.9M+15.8% | $14.6M |
| SG&A Expenses | $36.0M+19.3% | $30.2M-8.7% | $33.1M+5.9% | $31.2M-2.3% | $32.0M+1.1% | $31.6M+12.6% | $28.1M+4.5% | $26.9M |
| Operating Income | $32.3M+458.2% | -$9.0M+18.0% | -$11.0M-90.3% | -$5.8M+63.4% | -$15.8M-164.7% | -$6.0M+40.5% | -$10.0M-184.4% | $11.9M |
| Interest Expense | $1.1M+3.3% | $1.1M+47.1% | $724K+344.2% | $163K+22.6% | $133K-6.3% | $142K+56.0% | $91K-9.0% | $100K |
| Income Tax | $1.6M-77.5% | $7.0M+889.7% | -$884K-188.8% | $995K-78.7% | $4.7M+189.6% | $1.6M-16.7% | $1.9M+157.7% | $752K |
| Net Income | $29.6M+346.8% | -$12.0M-188.6% | -$4.2M+73.8% | -$15.9M-14.5% | -$13.9M-123.3% | -$6.2M-583.1% | $1.3M-87.9% | $10.6M |
| EPS (Diluted) | $0.23+330.0% | $-0.10-233.3% | $-0.03+75.0% | $-0.12-9.1% | $-0.11-120.0% | $-0.05-266.7% | $0.03-62.5% | $0.08 |
FLYW Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B+13.1% | $1.1B+5.1% | $1.1B-5.5% | $1.1B+12.4% | $998.7M0.0% | $998.7M-7.5% | $1.1B+9.9% | $982.4M |
| Current Assets | $606.1M+35.1% | $448.8M+13.2% | $396.5M-48.0% | $762.9M+7.3% | $710.9M-3.8% | $739.1M-9.4% | $815.7M+7.0% | $762.4M |
| Cash & Equivalents | $354.9M+42.1% | $249.7M+31.1% | $190.5M-61.5% | $495.2M-8.2% | $539.3M-12.9% | $619.0M-5.4% | $654.6M+2.6% | $638.2M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $40.4M+35.9% | $29.7M-11.6% | $33.6M+41.7% | $23.7M+16.9% | $20.3M+3.0% | $19.7M+8.1% | $18.2M+0.4% | $18.2M |
| Goodwill | $406.1M-0.1% | $406.4M+0.9% | $402.7M+169.3% | $149.6M+24.0% | $120.7M+0.8% | $119.7M-1.6% | $121.6M+25.2% | $97.2M |
| Total Liabilities | $430.7M+33.8% | $321.9M+16.6% | $276.1M-10.3% | $307.7M+56.9% | $196.2M-89.1% | $1.8B+511.6% | $293.6M+41.8% | $207.1M |
| Current Liabilities | $395.9M+64.8% | $240.2M+22.6% | $195.9M-32.4% | $289.8M+63.3% | $177.4M-2.8% | $182.5M-33.3% | $273.8M+42.5% | $192.1M |
| Long-Term Debt | $15.0M-75.0% | $60.0M0.0% | $60.0M | $0 | N/A | N/A | N/A | N/A |
| Total Equity | $829.1M+4.6% | $792.4M+1.0% | $784.3M-3.7% | $814.8M+1.5% | $802.6M+200.7% | -$797.0M-201.4% | $786.1M+1.4% | $775.3M |
| Retained Earnings | -$157.4M+15.8% | -$187.0M-6.9% | -$175.0M-2.4% | -$170.9M+11.9% | -$193.9M-7.7% | -$180.0M-3.6% | -$173.8M+0.7% | -$175.1M |
FLYW Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $150.1M+523.4% | $24.1M+130.5% | -$78.9M-120.7% | -$35.8M-85.0% | -$19.3M+49.3% | -$38.1M-163.8% | $59.7M+28.4% | $46.5M |
| Capital Expenditures | $226K-58.7% | $547K+192.5% | $187K+85.1% | $101K-71.1% | $349K+36.9% | $255K+286.4% | $66K-75.7% | $272K |
| Free Cash Flow | $149.9M+536.9% | $23.5M+129.8% | -$79.1M-120.6% | -$35.9M-82.3% | -$19.7M+48.7% | -$38.3M-164.3% | $59.7M+29.0% | $46.3M |
| Investing Cash Flow | $5.3M-87.3% | $41.4M+117.4% | -$237.9M-2020.4% | -$11.2M+81.5% | -$60.7M-3910.6% | -$1.5M+95.5% | -$33.7M-1994.9% | -$1.6M |
| Financing Cash Flow | -$57.5M-616.8% | -$8.0M-168.9% | $11.6M+155.3% | -$21.0M-1406.1% | $1.6M-28.4% | $2.2M+131.0% | -$7.3M-102.7% | $265.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $10.0M+100.3% | $5.0M-89.9% | $49.3M+115.5% | $22.9M | $0 | $0 | N/A | N/A |
FLYW Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 16.1%+22.9pp | -6.8%+1.4pp | -8.2%-3.3pp | -4.9%+10.3pp | -15.2%-10.0pp | -5.2%+4.7pp | -10.0%-19.6pp | 9.6% |
| Net Margin | 14.8%+23.9pp | -9.1%-6.0pp | -3.1%+10.4pp | -13.5%-0.1pp | -13.4%-7.9pp | -5.5%-6.7pp | 1.3%-7.3pp | 8.6% |
| Return on Equity | 3.6% | N/A | N/A | 4.6% | N/A | N/A | 0.2%-1.2pp | 1.4% |
| Return on Assets | 2.4%+3.4pp | -1.1%-0.7pp | -0.4%+1.0pp | -1.4%-0.0pp | -1.4%-0.8pp | -0.6%-0.7pp | 0.1%-1.0pp | 1.1% |
| Current Ratio | 1.53-0.3 | 1.87-0.2 | 2.02-0.6 | 2.63-1.4 | 4.01-0.0 | 4.05+1.1 | 2.98-1.0 | 3.97 |
| Debt-to-Equity | 0.02-0.1 | 0.080.0 | 0.08+0.1 | 0.00-0.2 | 0.24+2.5 | -2.25-2.6 | 0.37+0.1 | 0.27 |
| FCF Margin | 74.9%+57.0pp | 17.8%+77.1pp | -59.3%-28.8pp | -30.5%-11.5pp | -19.0%+14.6pp | -33.6%-93.0pp | 59.4%+21.9pp | 37.5% |
Similar Companies
Frequently Asked Questions
What is Flywire Corp's annual revenue?
Flywire Corp (FLYW) reported $492.1M in total revenue for fiscal year 2024. This represents a 22.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Flywire Corp's revenue growing?
Flywire Corp (FLYW) revenue grew by 22.1% year-over-year, from $403.1M to $492.1M in fiscal year 2024.
Is Flywire Corp profitable?
Yes, Flywire Corp (FLYW) reported a net income of $2.9M in fiscal year 2024, with a net profit margin of 0.6%.
What is Flywire Corp's earnings per share (EPS)?
Flywire Corp (FLYW) reported diluted earnings per share of $0.02 for fiscal year 2024. This represents a 128.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Flywire Corp's EBITDA?
Flywire Corp (FLYW) had EBITDA of $10.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Flywire Corp have?
As of fiscal year 2024, Flywire Corp (FLYW) had $495.2M in cash and equivalents against $0 in long-term debt.
What is Flywire Corp's operating margin?
Flywire Corp (FLYW) had an operating margin of -1.5% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Flywire Corp's net profit margin?
Flywire Corp (FLYW) had a net profit margin of 0.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Flywire Corp's return on equity (ROE)?
Flywire Corp (FLYW) has a return on equity of 0.4% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Flywire Corp's free cash flow?
Flywire Corp (FLYW) generated $90.5M in free cash flow during fiscal year 2024. This represents a 13.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Flywire Corp's operating cash flow?
Flywire Corp (FLYW) generated $91.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Flywire Corp's total assets?
Flywire Corp (FLYW) had $1.1B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Flywire Corp's capital expenditures?
Flywire Corp (FLYW) invested $924K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Flywire Corp spend on research and development?
Flywire Corp (FLYW) invested $66.6M in research and development during fiscal year 2024.
How many shares does Flywire Corp have outstanding?
Flywire Corp (FLYW) had 122M shares outstanding as of fiscal year 2024.
What is Flywire Corp's current ratio?
Flywire Corp (FLYW) had a current ratio of 2.63 as of fiscal year 2024, which is generally considered healthy.
What is Flywire Corp's debt-to-equity ratio?
Flywire Corp (FLYW) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Flywire Corp's return on assets (ROA)?
Flywire Corp (FLYW) had a return on assets of 0.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Flywire Corp's Piotroski F-Score?
Flywire Corp (FLYW) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Flywire Corp's earnings high quality?
Flywire Corp (FLYW) has an earnings quality ratio of 31.54x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Flywire Corp cover its interest payments?
Flywire Corp (FLYW) has an interest coverage ratio of -13.5x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Flywire Corp?
Flywire Corp (FLYW) scores 62 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.