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Dec 31, 2023
Flywire Q4 2023 Earnings Report
Flywire's Q4 2023 financial results were reported, showing substantial year-over-year revenue growth.
Key Takeaways
Flywire reported a strong fourth quarter with a 37.5% increase in revenue compared to the previous year, reaching $100.5 million. The company's net income turned positive, and Total Payment Volume increased by 33.2%.
Revenue increased by 37.5% year-over-year to $100.5 million.
Gross Profit increased to $61.8 million, with a Gross Margin of 61.5%.
Net income was $1.3 million, a significant improvement from the previous year's net loss of $1.1 million.
Total Payment Volume increased by 33.2% to $5.4 billion.
Revenue by Segment
Forward Guidance
Flywire anticipates revenue less ancillary services to grow 30% for fiscal year 2024, with an expected improvement in adjusted EBITDA as a percentage of revenue less ancillary services.
Positive Outlook
- Revenue for fiscal-year 2024 is projected to be between $501 million and $535 million.
- Revenue less ancillary services for fiscal-year 2024 is expected to be between $483 million and $509 million.
- Adjusted EBITDA for fiscal-year 2024 is forecasted to be between $65 million and $76 million.
- Revenue for the first quarter of 2024 is expected to be between $110 million and $117 million.
- Adjusted EBITDA for the first quarter of 2024 is projected to be between $9 million and $11 million.
Challenges Ahead
- First quarter results are expected to be impacted by Canadian regulatory changes.
- Canadian regulatory changes are expected to reduce international study permit applications.
- Some Canadian applications may be delayed until later in the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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