Flywire Corp Stock Price, News & Analysis

Flywire (Nasdaq: FLYW), a global payments enablement and software company, has announced its participation in two upcoming investor conferences. On September 11, 2024, Flywire will attend the Goldman Sachs Communacopia + Technology Conference in San Francisco, participating in a fireside chat at 3:05pm PT. On September 13, 2024, the company will join the Autonomous Future of Commerce Symposium, held virtually, for another fireside chat at 10:30am ET.

Both discussions will be webcast live on Flywire's investor relations website at https://ir.flywire.com/. Replays of the webcasts will remain available on the website for 90 days following the events, providing investors with extended access to the company's insights and updates.

Balderton Capital, a leading European VC firm, has announced $1.3 billion in new funds to support Europe's top entrepreneurs. This includes a $615 million Early Stage Fund IX and a $685 million Growth Fund II, aimed at backing ambitious startups from seed stage through IPO. The funds attracted a diverse mix of global investors, including a prominent US state pension and British Patient Capital.

Balderton's portfolio includes successful companies like Revolut, Dream Games, and GoCardless. The firm offers comprehensive support to founders, including a platform team, Executives in Residence, and a strong community network. Balderton also provides unique founder wellbeing initiatives, demonstrating its commitment to holistic entrepreneur support.

Flywire (NASDAQ: FLYW) reported strong Q2 2024 financial results, with revenue increasing 22% year-over-year to $103.7 million and revenue less ancillary services up 26% to $99.9 million. The company signed over 200 new clients across all verticals and announced the acquisition of Invoiced, an accounts receivable SaaS platform. Key highlights include:

- Total Payment Volume increased 19% to $4.9 billion
- Gross Profit rose to $61.9 million with a 59.7% margin
- Adjusted EBITDA improved to $5.8 million
- Board authorized a $150 million share repurchase program

Despite strong performance, Flywire lowered its FY2024 revenue outlook due to headwinds in the Canadian education business but raised its Adjusted EBITDA guidance, reflecting confidence in long-term potential.

Flywire (Nasdaq: FLYW) has acquired Invoiced, a SaaS platform for B2B finance teams to automate the order-to-cash process. This acquisition aims to enhance Flywire's B2B payments business by expanding its software suite for global clients. Invoiced's platform manages invoices, communicates with payers, and reconciles payments to ERP systems, integrating with leading accounting systems like Oracle's NetSuite and Microsoft Business Dynamics.

The combination of Invoiced's A/R automation software with Flywire's global payment network is expected to provide a full-suite software and payments solution for the B2B industry. Flywire estimates its target B2B segment to be responsible for approximately $10 trillion in global payment volume. The acquisition is projected to add about $2M of revenue with software-like gross margins in FY 2024.

One Inc, a leading digital payments network for the insurance industry, has appointed Michael Ellis as its new Chief Financial Officer, effective August 5, 2024. Ellis brings over 30 years of experience in scaling payment technology companies, including his role as CFO at Flywire (NASDAQ: FLYW), where he led the company through its 2021 IPO. In his new position, Ellis will oversee One Inc's financial activities and collaborate with CEO Ian Drysdale to guide the company's future direction.

The appointment comes as One Inc aims to expand its digital payments platform, foster product innovation, and create new opportunities for modern insurers. The company currently handles annual payments of USD 81 billion, serves over 245 insurance industry customers, and has a network of over 760,000 vendors.

One Inc, a leading digital payments network for the insurance industry, has appointed Michael Ellis as its new Chief Financial Officer, effective August 5, 2024. Ellis brings over 30 years of experience in scaling payment technology companies, including his role as CFO at Flywire (NASDAQ: FLYW), where he led the company through its 2021 IPO. In his new position, Ellis will oversee One Inc's financial activities and collaborate with CEO Ian Drysdale to guide the company's future direction.

The appointment comes as One Inc aims to expand its digital payments platform, foster product innovation, and create new opportunities for modern insurers. The company currently handles annual payments of USD 81 billion, serves over 245 insurance industry customers, and has a network of over 760,000 vendors.

Flywire (Nasdaq: FLYW), a global payments enablement and software company, has announced that it will release its second quarter 2024 financial results after market close on Tuesday, August 6, 2024. The company will host a conference call to discuss these results at 5:00pm ET on the same day.

The call will be led by key executives including Mike Massaro (CEO), Rob Orgel (President and COO), and Cosmin Pitigoi (CFO). Investors and interested parties can access the live webcast of the conference call through Flywire's investor relations website at https://ir.flywire.com/. A replay of the call will also be made available on the same website following the event.

Flywire (FLYW) has expanded its capabilities in India to streamline student loan payments for Indian students studying abroad. The company has partnered with HDFC Credila, India's largest independent student loan provider, to enable seamless disbursement of loan payments in Indian Rupees to global higher education institutions.

This partnership aims to simplify the complex process of cross-border education payments, addressing issues like Tax Collected at Source (TCS) calculations and maintaining visibility of fund flows. Flywire estimates the Indian student loan market opportunity at $3+ billion in annual payment volume.

The collaboration comes as student loans in India are experiencing high demand, with NBFCs witnessing over 43% growth in their education loan book in the first half of 2023. Flywire has also established direct integrations with India's three largest banks and expanded its support services to enhance its footprint in the region.

Flywire 's latest survey highlights the importance of improving cross-border B2B payment experiences for business growth. Conducted among 460 B2B payers across Latin America, the Middle East, and Africa, the survey reveals that 94% of respondents would embrace innovations easing cross-border payments. Key findings include that 82% have delayed payments due to foreign exchange (FX) complexities, and 88% have faced delays due to dealing with bills in another currency. Security remains a top concern, with 88% worried about fraud. Moreover, 70% of businesses have stopped dealing with international vendors due to poor payment experiences. Flywire’s B2B solution aims to address these issues by offering a seamless, digital, and localized payment experience.