Flywire Corporation Reports Strong Q3 2024 Growth

Flywire Corporation ( (FLYW) ) has released its Q3 earnings. Here is a breakdown of the information Flywire Corporation presented to its investors.

Flywire Corporation is a global payments enablement and software company, leveraging its proprietary global payments network and industry-specific software to deliver complex payment solutions across education, healthcare, travel, and B2B industries. In the third quarter of 2024, Flywire reported a significant financial upturn with a 27.2% increase in revenue to $156.8 million compared to the previous year, and a notable rise in net income to $38.9 million from $10.6 million. The company also highlighted its strategic growth with over 200 new client signings and enhancements in its U.S. higher education payment solutions. Key financial metrics included a 24.2% increase in total payment volume and a 29.6% rise in revenue less ancillary services, reflecting robust performance across its diversified business lines. Looking ahead, Flywire’s management remains optimistic, raising the lower end of its full-year revenue and adjusted EBITDA guidance, reflecting confidence in the company’s continued profitability and growth trajectory.