10-K · February 24, 2026
Flywire presents a clear verticalized payments strategy (education, healthcare, travel, B2B) built on a next‑gen platform, proprietary global payment network and vertical software. Financially, revenue accelerated to…
Earnings analysis · 10-Q
FLYW earnings analysis
Filed May 5, 2026 · Our reading of the company's report
The latest report
Flywire's Q1 2026 results show impressive revenue growth of 41.0% YoY to $188.1 million, despite missing EPS estimates at $0.10 versus $0.15 expected. Gross margins contracted to 56.8% from 60.3% YoY as costs rose, but…
Read full summary
Flywire's Q1 2026 results show impressive revenue growth of 41.0% YoY to $188.1 million, despite missing EPS estimates at $0.10 versus $0.15 expected. Gross margins contracted to 56.8% from 60.3% YoY as costs rose, but operational efficiency is improving, evidenced by a return to profitability with $12.5 million net income compared to a loss in the previous year. Management remains optimistic, raising FY 2026 growth guidance amid a favorable market backdrop.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.1
What stood out
-
Strong Revenue Growth
Revenue increased by 41.0% YoY to $188.1 million, exceeding estimates of $169.96 million.
-
Net Income Turnaround
Net income of $12.5 million versus a net loss of $4.2 million in Q1 2025.
-
Operational Improvements
Operating expenses increased at a slower rate than revenue, showing improved operational efficiency.
-
Segment Growth
Total payment volume surged by 36.5% YoY to $11.4 billion.
-
Cash Position Strength
Cash and cash equivalents stood at $311.9 million, providing strong liquidity.
-
Management's Positive Outlook
Management raised full-year revenue growth guidance to 18-24% YoY, up 300 basis points.
What to watch
-
Declining Gross Margin
Gross margin decreased to 56.8% from 60.3% YoY due to rising costs.
-
Currency Fluctuations Impact
Exposure to foreign currency risks remains pronounced, potentially affecting revenue.
-
Regulatory Compliance Risks
New compliance risks related to AML and sanctions could impact operations.
Management's outlook
Management raised FY 2026 growth guidance for FX-Neutral Revenue Less Ancillary Services Growth to 18-24% YoY.
Earlier filings 4
10-Q · August 6, 2025
Flywire reported Q2 revenue of $131,891,000 (up from $103,676,000 in Q2 2024) and delivered a GAAP net loss of $12,007,000 (EPS -$0.10). Revenue grew materially year-over-year, but the company remains unprofitable and…
10-Q · November 7, 2024
Flywire reported Q3 revenue of $156.8M (up $33.5M or ~27% YoY) and GAAP diluted EPS of $0.30, both beating consensus. The company delivered operating income of $20.3M (12.9% margin) and stronger operating cash…
10-Q · May 10, 2023
Flywire reported Q1 2023 revenue of $94,357,000, up from $64,553,000 in Q1 2022, with operating loss narrowing to $(6,568,000) and GAAP EPS improving to $(0.03). Cash and liquidity remain sizable with cash and cash…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.