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Jun 30, 2023
Flywire Q2 2023 Earnings Report
Flywire's Q2 2023 financial performance was characterized by substantial revenue growth and strategic business developments.
Key Takeaways
Flywire reported a 50.3% increase in revenue to $84.9 million for Q2 2023, driven by a 43% increase in total payment volume. The company signed more than 165 new clients, one of the highest in company history. Flywire also raised its fiscal year 2023 outlook.
Revenue increased by 50.3% year-over-year, reaching $84.9 million.
Total Payment Volume increased by 43% year-over-year, reaching $4.1 billion.
Signed more than 165 new clients, one of the highest in company history.
Company raised its fiscal year 2023 outlook.
Forward Guidance
Flywire anticipates revenue between $121 to $128 million and Adjusted EBITDA between $24 to $28 million for the third quarter of 2023. For the full fiscal year 2023, the company projects revenue between $392 to $408 million and Adjusted EBITDA between $33 to $39 million.
Positive Outlook
- Revenue is projected to be between $121 million and $128 million for Q3 2023.
- Revenue Less Ancillary Services is expected to be between $116 million and $122 million for Q3 2023.
- Adjusted EBITDA is forecasted to be between $24 million and $28 million for Q3 2023.
- Full year revenue is projected to be between $392 million and $408 million.
- Full year Adjusted EBITDA is projected to be between $33 million and $39 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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