# Flywire Corporation (FLYW)

> Source: Nexqual · https://nexqual.com/FLYW · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Flywire Corporation (FLYW), nexqual.com/FLYW" · informational, not investment advice.

**Price:** USD 19.15 (+2.79% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 18.63 · day 18.64–19.18 · 52w 10.55–19.73 · market cap $2.37B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $714M, net income $34.0M (4.8% margin), free cash flow $165M (SEC filings).
- Valuation: P/E 69.5x (avg 526.8x at the last 2 fiscal year-ends).
- 1 of 80 tracked superinvestors hold FLYW (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Total return with dividends: 1Y +43.9% vs S&P 500 +14.9%; 5Y -60.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-03, EPS estimate USD 0.49, revenue estimate $232M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $201M | $289M | $403M | $492M | $623M | $714M |
| Operating income | -$13.3M | -$30.2M | -$21.5M | -$7.3M | $11.3M | $39.3M |
| Net income | -$28.1M | -$39.3M | -$8.6M | $2.9M | $13.5M | $34.0M |
| EPS (diluted) | -$0.39 | -$0.36 | -$0.07 | $0.02 | $0.11 | — |
| Free cash flow | $16.1M | $4.1M | $75.3M | $97.7M | $98.8M | $165M |
| Operating margin | -6.6% | -10.4% | -5.3% | -1.5% | 1.8% | 5.5% |
| Net margin | -14.0% | -13.6% | -2.1% | 0.6% | 2.2% | 4.8% |
| Revenue growth | +52.6% | +43.9% | +39.3% | +22.1% | +26.6% | — |
| Cash + short-term investments | $385M | $349M | $655M | $611M | $355M | — |
| Total debt | $25.9M | $0K | — | $0K | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 69.5x · P/S 3.3x · P/FCF 14.3x · P/B 2.9x · FCF yield 6.99% · Earnings yield 1.44%
P/E at fiscal year-ends: Dec 2025 134.0x, Dec 2024 919.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold FLYW. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $20.3M | Added +44.0% |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-30 | RBC Capital | Reiterated | Outperform | $25 |
| 2026-08-31 | RBC Capital | Target raised | Outperform | $20 → $25 |
| 2026-08-25 | Wolfe Research | Target raised | Outperform | $22 → $23 |
| 2026-08-14 | Truist Securities | Target raised | Hold | $17 → $19 |
| 2026-08-05 | UBS | Target raised | Neutral | $18 → $19 |
| 2026-08-05 | B. Riley Securities | Target raised | Buy | $22 → $24 |
| 2026-07-24 | Truist Securities | Downgrade | Buy → Hold | $18 → $17 |
| 2026-07-21 | BTIG | Reiterated | Buy | $20 |
| 2026-07-09 | Goldman Sachs | Target raised | Neutral | $17 → $20 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +43.9% | -60.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +44.1% | -16.7% |
| Volatility (annualized) | 46.1% | 57.0% |
| Max drawdown | -28.2% (Dec 2025→Feb 2026) | -82.2% (Oct 2021→Apr 2025) |

## Peers (Software - Infrastructure)
WIX (Wix.com Ltd.) USD 82.55 +4.84% · DLO (DLocal Limited) USD 14.84 -2.05% · TENB (Tenable Holdings, Inc.) USD 42 +3.27% · BLSH (Bullish) USD 29.19 -1.95% · CORZ (Core Scientific, Inc.) USD 13.2 -7.37% · RELY (Remitly Global, Inc.) USD 25.32 -0.39%

## More
Full page: https://nexqual.com/FLYW · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.49 | $0.47 | +5.4% | $232.4M | 7 |
| Next quarter (ends 2026-12-31) | $0.21 | $0.19 | +9.1% | $178.3M | 7 |
| Current fiscal year (ends 2026-12-31) | $1.08 | $1.03 | +4.8% | $760.8M | 7 |
| Next fiscal year (ends 2027-12-31) | $1.36 | $1.25 | +8.6% | $877.7M | 7 |