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Sep 30, 2023
Flywire Q3 2023 Earnings Report
Flywire achieved its highest quarter of revenue and adjusted EBITDA, driven by go-to-market strategy optimization and new client wins.
Key Takeaways
Flywire reported a strong third quarter with revenue increasing by 29.5% year-over-year to $123.3 million and net income of $10.6 million. The company also raised its full-year outlook before FX impacts.
Revenue increased by 29.5% to $123.3 million compared to Q3 2022.
Net income reached $10.6 million, a significant improvement from the $(4.3) million loss in Q3 2022.
Total Payment Volume increased by 26% to $8.9 billion.
Company signed more than 185 new clients.
Forward Guidance
For the fourth quarter of 2023, Flywire anticipates revenue between $91.5 to $96.5 million and Revenue Less Ancillary Services between $86.5 to $90.5 million. Adjusted EBITDA is projected to be between $1.0 to $4.0 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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