Flywire Corporation ( (FLYW) ) has released its Q4 earnings. Here is a breakdown of the information Flywire Corporation presented to its investors.
Flywire Corporation is a global payments enablement and software company that specializes in complex, large-value payment processing across various verticals, including education, healthcare, and travel. The company recently reported its fourth-quarter and fiscal-year 2024 financial results, highlighting a 17% year-over-year increase in revenue for the fourth quarter. Despite a net loss of $15.9 million in the same period, Flywire demonstrated strong growth in key metrics such as total payment volume and client acquisition.
In the fourth quarter of 2024, Flywire’s revenue reached $117.6 million, with a gross profit of $74.3 million and a gross margin of 63.2%. The company added over 180 new clients, contributing to a 27.6% increase in total payment volume to $6.9 billion. Additionally, Flywire’s adjusted EBITDA rose to $16.7 million, reflecting a significant improvement in operational efficiency.
Strategically, Flywire announced a restructuring plan affecting 10% of its workforce to enhance productivity and optimize investments. The company also acquired Sertifi, aiming to expand its travel vertical by integrating hotel property management systems and broadening its reach to over 20,000 hotel locations worldwide.
Looking ahead, Flywire projects revenue growth of 10-14% for fiscal-year 2025, excluding contributions from the Sertifi acquisition. The company remains focused on leveraging its core strengths and expanding its travel and B2B verticals, anticipating these areas to exceed historical growth rates. Flywire’s management is optimistic about navigating macroeconomic challenges while continuing to drive growth and efficiency.