Flywire (FLYW) AI Stock Analysis

• Market Cap: $1.37B
• Dividend Yield: N/A
• Average Volume (3M): 1.34M
• Price to Earnings (P/E): 125.2
• Beta (1Y): 0.97
• Revenue Growth: 22.71%
• EPS Growth: -111.24%
• Country: US
• Employees: 1,250
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): 0.00
• Shares Outstanding: 120,253,610
• 10 Day Avg. Volume: 1,562,037
• 30 Day Avg. Volume: 1,344,132
• PEG Ratio: 0.35
• Price to Book (P/B): 2.07
• Price to Sales (P/S): 2.78
• P/FCF Ratio: 17.53
• Enterprise Value/Market Cap: 0.86
• Enterprise Value/Revenue: 1.89
• Enterprise Value/Gross Profit: 3.34
• Enterprise Value/Ebitda: 22.90
• 1Y Price Target: $16.44
• Price Target Upside: 31.31% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 12
• EPS Forecast (FY): 0.29
• Revenue Forecast (FY): $691.95M

• Rating: 65 Neutral
• Price Target: $13.50 ▲(7.83% Upside)
• Action: Reiterated Date: 02/26/26
• Date: Action: Reiterated 02/26/26

The score is driven primarily by solid financial progress (strong gross margins, improving profitability, low leverage, and better cash generation) and constructive earnings-call outlook for growth and margin expansion. These positives are tempered by weak-to-mixed technical signals and a stretched valuation (high P/E), alongside near-term guided gross margin pressure and some macro/execution risk.

Positive Factors

Durable High Gross Margins

Sustained gross margins near the mid-60s% indicate a scalable, high-value payments and software platform with pricing power. High margins provide durable cash flow cushion as volumes grow, enabling reinvestment in product, client integrations and margin-expanding operating leverage over the next several quarters.

Strengthening Cash Generation & Low Leverage

Consistent operating cash flow and returning-to-positive free cash flow demonstrate improving cash conversion and earnings quality. Combined with a conservatively financed balance sheet and net cash position, this supports capital allocation flexibility (buybacks, M&A, product investment) and lowers financial risk over the medium term.

Enterprise Client Wins, Low Churn & Pipeline

Strong net new client additions, very low churn and accelerating signed ARR indicate sticky, enterprise-grade product adoption. High enterprise penetration and deeper integrations create switching costs and cross-sell potential, supporting durable revenue growth and higher lifetime customer value across verticals.

Negative Factors

Gross Margin Pressure from Large Ramps

Ramping payment-processing contracts with thin early economics can structurally compress reported margins until scale and pricing normalization occur. Even if temporary, these programs increase margin volatility, delay margin expansion targets, and require sustained execution to convert lower-percentage mix into higher gross profit dollars over time.

Education Demand & Visa Uncertainty

Significant assumed visa declines directly affect cross-border student payments, a core revenue stream. Education sensitivity to macro/regulatory visa trends adds structural growth risk and increases reliance on non-education vertical expansion to sustain company-wide growth over the coming 2–6 months.

Volatile Operating Profitability & Trend Confidence

Fluctuating operating margins and an inconsistent reported 2025 revenue figure reduce clarity on sustainable operating leverage. This makes forecasting and achieving multi-year margin targets more execution-sensitive and elevates the risk that near-term investments or mix shifts will delay consistent, durable profitability improvements.

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 help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options; and provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly. It serves education, healthcare, travel, and business to business organizations. Flywire Corporation was formerly known as peerTransfer Corporation and changed its name to Flywire Corporation in December 2016. Flywire Corporation was incorporated in 2009 and is headquartered in Boston, Massachusetts.

How the Company Makes Money

Flywire generates revenue primarily through transaction fees charged on payments processed through its platform. The company earns a percentage of each transaction, which varies based on the volume and value of the payments, as well as the specific services utilized by its clients. Additionally, Flywire may charge setup fees, subscription fees for its software services, and other ancillary fees associated with its payment processing solutions. Key partnerships with educational institutions, healthcare providers, and travel companies further enhance its revenue streams by providing a steady flow of transactions and expanding its customer base, while the growing demand for seamless international payments continues to drive the company's growth.

Flywire Financial Statement Overview

Summary

Financials show strong multi-year revenue scaling with durable gross margins (~63–65%), improving profitability (near breakeven in 2024 and positive net income in 2025 data), a low-debt balance sheet, and strengthening operating/free cash flow (FCF positive in 2021 and 2023–2024). The main offsets are thin/volatile operating profitability and reduced confidence from an inconsistent 2025 annual revenue figure.

Income Statement

Revenue has scaled rapidly from 2020–2024 with consistently strong gross margins (~63–65%), showing a solid underlying business model. Profitability has improved meaningfully (net losses in 2020–2022, near-breakeven in 2024, and positive net income in 2025 annual data), but operating profitability has been volatile (EBIT negative in 2022–2023 and still low in 2024). The 2025 annual revenue figure appears inconsistent versus prior years, which reduces confidence in trend quality for that period.

Balance Sheet

The balance sheet looks conservatively financed with very low debt relative to equity across 2021–2024, providing flexibility and lowering financial risk. Equity and assets have generally grown over time, supporting expansion. Returns on equity have improved from negative levels in 2021–2023 to slightly positive in 2024–2025, though overall returns remain modest; 2020 shows negative equity, indicating the company previously carried a weaker capitalization profile.

Cash Flow

Cash generation has strengthened materially: operating cash flow is positive from 2021 onward and free cash flow is positive in 2021 and 2023–2024, indicating improving cash discipline as the business scales. Free cash flow is also broadly in line with reported earnings in recent years, which supports earnings quality. The main weak spot is earlier volatility (negative operating and free cash flow in 2020 and negative free cash flow in 2022), suggesting cash performance can fluctuate through investment cycles.

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	46.04M	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

• Technical Analysis Sentiment: Neutral
• Last Price: 12.52
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLYW, the sentiment is Neutral. The current price of 12.52 is above the 20-day moving average (MA) of 11.50, below the 50-day MA of 13.15, and below the 200-day MA of 12.57, indicating a neutral trend. The MACD of -0.50 indicates Negative momentum. The RSI at 56.21 is Neutral, neither overbought nor oversold. The STOCH value of 59.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FLYW.

Flywire Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PAY	71 Outperform	$2.93B	46.64	12.80%	―	44.34%	45.96%
CTLP	67 Neutral	$759.32M	14.31	24.55%	―	12.94%	356.32%
HCKT	65 Neutral	$356.77M	28.59	10.27%	2.41%	0.68%	-67.84%
FLYW	65 Neutral	$1.37B	125.20	-0.29%	―	22.71%	-111.24%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
AI	47 Neutral	$1.42B	-3.64	-46.77%	―	1.84%	-27.74%
PSFE	47 Neutral	$345.35M	-2.98	-15.59%	―	-0.95%	-456.64%

Flywire Corporate Events

Flywire Updates Investor Presentation Highlighting Growth Momentum

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 24, 2026, the company also made a new investor presentation available on its website, highlighting strategic priorities and financial performance.

Flywire reported strong results for the fourth quarter and full year 2025, with Q4 revenue up 34% year on year to $157.5 million and total payment volume up 35.6% to $9.3 billion, supported in part by the Sertifi acquisition. The company neared break-even net income, expanded adjusted EBITDA to $25.4 million with higher margins, repurchased $10 million of stock, fully repaid Sertifi-related debt, and underscored commercial momentum through robust ARR growth, low churn, and deeper integrations in education and global payments.

The most recent analyst rating on (FLYW) stock is a Hold with a $15.00 price target. To see the full list of analyst forecasts on Flywire stock, see the FLYW Stock Forecast page.

Flywire Restructures Leadership, Elevates CTO to Co-President

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 product strategy, software innovation and AI-driven workflows across its verticals. King, whose background in education software has been central to building Flywire’s product suite, will oversee software product strategy company-wide while taking on expanded business and client responsibilities in the Education vertical, as the company launches a search for a new CTO focused on operating global, large-scale payments and software platforms. The CTO role will continue to report to the CEO and concentrate on executing the software roadmap and maintaining platform reliability, scalability and security, with King remaining CTO until a successor is appointed to ensure a smooth transition. In connection with these changes, Flywire and King executed an amendment to his August 1, 2025 employment agreement on January 13, 2026, updating his title and responsibilities without altering his compensation arrangements.

The most recent analyst rating on (FLYW) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Flywire stock, see the FLYW Stock Forecast page.