Flywire (FLYW)
NASDAQ:FLYW
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Flywire
(NASDAQ:FLYW)
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Rating:66Neutral
Price Target:
$13.00
▲(9.70% Upside)
Action:ReiteratedDate:03/27/26
The score is driven primarily by improving fundamentals (strong growth and margins, low leverage, and strengthening free cash flow) and generally positive forward guidance with margin expansion and buybacks. It is held back by weak current price momentum, an expensive P/E with no dividend support, and near-term gross margin pressure plus macro uncertainty in education.
Positive Factors
High gross margins & revenue scale
Flywire has sustained high gross margins (~63–65%) while scaling revenue multi-year. Durable margins indicate pricing power and efficient payment economics in core verticals, supporting long-term gross profit growth even if mix shifts temporarily compress percentage margins.
Negative Factors
Near-term gross margin pressure
Large customer payment‑processing ramps and B2B program economics are expected to compress gross margins in 2026 by ~200–300 bps. Even if temporary, sustained execution risk on ramp economics or slower normalization would pressure profitability and cash conversion over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins & revenue scale
Flywire has sustained high gross margins (~63–65%) while scaling revenue multi-year. Durable margins indicate pricing power and efficient payment economics in core verticals, supporting long-term gross profit growth even if mix shifts temporarily compress percentage margins.
Read all positive factors
Flywire (FLYW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.40B
Dividend YieldN/A
Average Volume (3M)1.57M
Price to Earnings (P/E)128.4
Beta (1Y)0.89
Revenue Growth22.71%
EPS Growth-111.24%
CountryUS
Employees1,250
SectorTechnology
Sector Strength88
IndustryInformation Technology Services
Share Statistics
EPS (TTM)0.00
Shares Outstanding119,330,980
10 Day Avg. Volume1,014,505
30 Day Avg. Volume1,565,357
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)2.07
Price to Sales (P/S)2.78
P/FCF Ratio17.53
Enterprise Value/Market Cap0.77
Enterprise Value/Revenue1.74
Enterprise Value/Gross Profit3.08
Enterprise Value/Ebitda4.54
Forecast
1Y Price Target
$15.44Price Target Upside30.30% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)0.35
Revenue Forecast (FY)$723.20M
Flywire Business Overview & Revenue Model
Company Description
Flywire Corporation, together with its subsidiaries, operates as a payment enablement and software company in the United States, Canada, and the United Kingdom, and internationally. Its payment platform and network, and vertical-specific software ...
How the Company Makes Money
Flywire primarily makes money by facilitating payment transactions for its customers and charging fees tied to those transactions. Key revenue streams include: (1) Transaction/payment processing revenue: Flywire earns fees when it processes paymen...
Flywire Key Performance Indicators (KPIs)
Any
Revenue by Segment
Analyzes revenue from different business units or product lines, highlighting which areas drive growth and which might need strategic adjustments.
Analyzes revenue from different business units or product lines, highlighting which areas drive growth and which might need strategic adjustments.
Data provided by:
The Fly
The FlyFlywire Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call presented multiple strong operating and financial highlights: robust top-line growth (Q4 revenue +32.6% FX‑neutral), healthy transaction volume growth (+42%), expanded adjusted EBITDA margin and sustained free cash flow generation. The company signed significant new clients, showed strong SFS and pipeline momentum, and has a solid balance sheet with active buybacks. Notable near-term challenges include expected gross margin pressure in 2026 from payment-processing ramps, mix and FX effects, and conservative education assumptions tied to visa uncertainty. Management characterizes the margin pressure as temporary and provided multi-year targets that suggest margin recovery and continued profitability expansion. Overall, positives (strong growth, profitability, cash generation, and pipeline) outweigh the disclosed short-term operational and macro headwinds.Positive Updates
Strong Q4 Revenue Growth
Q4 revenue of $152.7M, up 32.6% FX-neutral year-over-year; FX provided a ~270 basis point reported tailwind. Organic FX-neutral growth excluding Sertifi was 20%.
Negative Updates
Near-Term Gross Margin Pressure from Payment Processing Ramps
Company expects adjusted gross profit margin to decline ~200–300 basis points in 2026 due to early-stage ramp economics from large payment-processing programs (e.g., Cleveland Clinic) and B2B invoiced cross-sell; margin headwind is expected to be largely temporary and normalize by 2027.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Q4 Revenue Growth
Q4 revenue of $152.7M, up 32.6% FX-neutral year-over-year; FX provided a ~270 basis point reported tailwind. Organic FX-neutral growth excluding Sertifi was 20%.
Read all positive updates
Company Guidance
Flywire guided 2026 FX‑neutral revenue growth of roughly 15%–21% (including ~2 points from B2B/Cleveland Clinic ramps and ~1 point inorganic from the Sertifi acquisition), with Q1 midpoint growth of ≈28% FX‑neutral (including a ~7‑point lift from lapping Sertifi, ~3–4 points from payment‑processing ramps and a 4–5 point FX tailwind). They expect adjusted gross profit margin to decline ~200–300 bps year‑over‑year (excluding ramp activity nearer the lower end at ~200 bps) while gross profit dollars should grow in the mid‑teens (Q1 gross profit dollar growth ~20%–22% at spot, ~7 points from Sertifi); the payment‑processing mix pressure is described as temporary and largely complete by end of 2026, with normalization toward a 100–200 bps annual mix shift thereafter. Adjusted EBITDA margin is expected to expand ~150–350 bps to ~22.5% at the midpoint (with 2027 ambition of 24%–25%), adjusted EBITDA should convert to free cash flow at ~70%–75% in 2026, GAAP net income is forecast to grow ~3–4x vs. 2025, and capital allocation priorities include continued disciplined buybacks ($118M deployed, ≈$180M remaining authorization) alongside a ~$200M net cash position, a target of ~10% of revenue for equity compensation in 2026 and a net dilution goal of about 3% over time.Flywire Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
83
Very Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 623.02M | 492.14M | 403.09M | 289.38M | 201.15M |
| Gross Profit | 382.67M | 314.65M | 255.75M | 181.44M | 130.96M |
| EBITDA | 3.57B | 19.76M | 11.78M | -23.84M | -14.91M |
| Net Income | 13.50M | 2.90M | -8.57M | -39.35M | -28.09M |
Balance Sheet | |||||
| Total Assets | 1.25B | 1.12B | 1.08B | 674.29M | 639.85M |
| Cash, Cash Equivalents and Short-Term Investments | 355.00M | 611.09M | 654.61M | 349.18M | 385.36M |
| Total Debt | 0.00 | 1.72M | 1.47M | 1.81M | 25.94M |
| Total Liabilities | 418.14M | 307.68M | 293.61M | 192.38M | 157.64M |
| Stockholders Equity | 835.17M | 814.77M | 786.12M | 481.90M | 482.20M |
Cash Flow | |||||
| Free Cash Flow | 98.83M | 90.54M | 74.61M | -2.21M | 10.45M |
| Operating Cash Flow | 100.17M | 91.47M | 80.63M | 4.88M | 17.13M |
| Investing Cash Flow | -194.23M | -215.80M | -38.78M | -24.68M | -62.91M |
| Financing Cash Flow | -78.40M | -37.63M | 263.42M | -23.97M | 327.51M |
Flywire Technical Analysis
Negative
11.85
Price Trends
11.93
Negative
12.96
Negative
12.79
Negative
Market Momentum
-0.17
Positive
47.66
Neutral
47.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLYW, the sentiment is Negative. The current price of 11.85 is below the 20-day moving average (MA) of 11.93, below the 50-day MA of 11.93, and below the 200-day MA of 12.79, indicating a bearish trend. The MACD of -0.17 indicates Positive momentum. The RSI at 47.66 is Neutral, neither overbought nor oversold. The STOCH value of 47.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FLYW.
Flywire Risk Analysis
Flywire disclosed 73 risk factors in its most recent earnings report. Flywire reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Flywire Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $3.06B | 61.03 | 12.67% | ― | 44.34% | 45.96% | |
67 Neutral | $802.08M | -2,802.95 | 21.85% | ― | 12.94% | 356.32% | |
66 Neutral | $1.40B | 128.39 | 1.67% | ― | 22.71% | -111.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | $313.74M | 42.13 | 12.82% | 2.41% | 0.68% | -67.84% | |
50 Neutral | $293.60M | -2.58 | -24.06% | ― | -0.95% | -456.64% | |
48 Neutral | $1.20B | -2.86 | -55.55% | ― | 1.84% | -27.74% |
* Technology Sector Average
FLYW
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11.85
3.24
37.63%
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Flywire Corporate Events
Business Operations and StrategyExecutive/Board Changes
Flywire Adds Veteran Banker Christine Katziff to Board
Positive
Mar 26, 2026
On March 25, 2026, Flywire’s board of directors appointed former Bank of America chief audit executive Christine Katziff as a Class I director, expanding the board from eight to nine members and assigning her to the audit committee. The comp...
Business Operations and StrategyExecutive/Board ChangesStock BuybackFinancial Disclosures
Flywire Updates Investor Presentation Highlighting Growth Momentum
Positive
Feb 24, 2026
On February 23, 2026, Flywire appointed former Visa and PayPal executive Patrick Blanc as Chief Technology Officer, succeeding David King, who has fully transitioned to Chief Product Officer and Co‑President of Global Education. On February ...
Business Operations and StrategyExecutive/Board Changes
Flywire Restructures Leadership, Elevates CTO to Co-President
Neutral
Jan 14, 2026
On January 13, 2026, Flywire Corporation announced changes to its leadership structure, appointing long-time Chief Technology Officer David King as Chief Product Officer Co-President of Global Education to reflect the growing importance of produc...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.