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Dec 31, 2022
Flywire Q4 2022 Earnings Report
Flywire's Q4 2022 financial results were reported, highlighting revenue growth and strategic advancements.
Key Takeaways
Flywire reported a 42% increase in revenue, reaching $73.1 million for Q4 2022. The company's gross profit also increased to $41.5 million, with a net loss of $1.1 million, significantly improved from the previous year. Total Payment Volume grew by 29% to $4.1 billion.
Revenue increased by 42% year-over-year, reaching $73.1 million.
Gross Profit increased to $41.5 million, with a Gross Margin of 56.8%.
Net loss significantly improved to $1.1 million, compared to $11.2 million in the previous year.
Total Payment Volume increased by 29% to $4.1 billion.
Forward Guidance
Flywire provided its outlook for Q1 and Fiscal Year 2023.
Positive Outlook
- Q1 2023 Revenue is projected to be $85 to $91 million.
- Q1 2023 Revenue Less Ancillary Services is expected to be $81 to $85 million.
- Q1 2023 Adjusted EBITDA is forecasted at $3 to $5 million.
- Fiscal Year 2023 Revenue is anticipated to be $373 to $392 million.
- Fiscal Year 2023 Adjusted EBITDA is projected at $28 to $34 million.
Challenges Ahead
- Fiscal year 2023 expectations reflect the Company’s organic revenue expectations and annualization of the Cohort Go business.
- The Company has assumed Foreign exchange rates prevailing as of December 31, 2022.
- Flywire has relied upon the exception in item 10(e)(1)(i)(B) of Regulation S-K and has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes within this earnings release because Flywire is unable, without making unreasonable efforts, to calculate certain reconciling items with confidence.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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