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Sep 30, 2024
Flywire Q3 2024 Earnings Report
Flywire's Q3 2024 performance was marked by revenue growth, increased payment volumes, and net income profitability.
Key Takeaways
Flywire reported a 27.2% increase in revenue to $156.8 million, a 24.2% increase in total payment volume to $11.0 billion, and a net income of $38.9 million for the third quarter of 2024. The company signed over 200 new clients and repurchased 1.3 million shares.
Revenue increased by 27.2% year-over-year, reaching $156.8 million.
Total Payment Volume grew by 24.2% year-over-year, totaling $11.0 billion.
Net income significantly increased to $38.9 million, compared to $10.6 million in the previous year.
The company signed more than 200 new clients across all verticals.
Forward Guidance
Flywire anticipates revenue between $121 to $129 million and Adjusted EBITDA between $15 to $19 million for the fourth quarter of 2024. For the full year 2024, they expect revenue between $495 to $503 million and Adjusted EBITDA between $76 to $80 million.
Positive Outlook
- Revenue is projected to be between $121 million and $129 million for Q4 2024.
- Adjusted EBITDA is expected to be between $15 million and $19 million for Q4 2024.
- Full year revenue is forecasted to be between $495 million and $503 million.
- Full year Adjusted EBITDA is projected to be between $76 million and $80 million.
- Company expects to continue to be a Rule of 40 company with strong Free Cash Flow and GAAP net income profitability trajectory.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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