Welcome to our dedicated page for Flywire Corporation Voting news (Ticker: FLYW), a resource for investors and traders seeking the latest updates and insights on Flywire Corporation Voting stock.
Flywire Corporation (symbol: FLYW) is a global leader in providing high-ticket cross-border payment solutions. The company, which was formerly known as peerTransfer, offers a scalable and secure payment platform that connects institutions on six continents with consumers worldwide. Founded to assist international students with paying their tuition fees, Flywire now serves over 800 educational institutions, processing payments from students in more than 200 countries and territories in over 100 local currencies.
Flywire's platform is designed to be convenient, fast, and secure, accepting bank transfers, online banking, and credit & debit cards. The platform also offers currency conversion at competitive exchange rates, resulting in significant savings compared to traditional banks and credit card providers. The end-to-end customer experience is enhanced through multilingual support available via phone, email, and chat, alongside 24/7 online payment tracking.
Headquartered in Boston, MA, Flywire's reach extends globally through additional offices around the world. The company's solutions are built on three core elements: a payments platform, a proprietary global payment network, and vertical-specific software backed by deep industry expertise. The bulk of Flywire's revenue comes from the Americas.
Flywire leverages its vertical-specific software and technology to integrate seamlessly with existing accounts receivable workflows for clients across education, healthcare, and travel verticals, as well as key B2B industries. The company also integrates with leading ERP systems like NetSuite, optimizing the payment experience and eliminating operational challenges.
In recent news, Flywire continues to expand its client base and global presence, supporting over 3,800 clients with diverse payment methods in more than 140 currencies across 240 countries and territories. The company has also recently signed over 200 new clients in the first quarter of 2024, reflecting its strong market penetration and growth potential.
Flywire's commitment to innovation and customer satisfaction is demonstrated through its strategic partnerships and community initiatives. Notably, Flywire is the title sponsor for Major League Table Tennis' championship weekend, highlighting its involvement in promoting burgeoning sports leagues.
For more information, visit www.flywire.com and follow Flywire on social media platforms like X (formerly known as Twitter), LinkedIn, and Facebook.
Flywire (NASDAQ: FLYW) has announced a strategic partnership with Blackbaud (NASDAQ: BLKB) to streamline international tuition payments for K-12 schools in the United States. The integration will serve over 1,000 U.S. independent schools, enabling seamless payment processing for international students through Blackbaud's Tuition Management platform. The partnership addresses the challenges of international tuition payments, which can range from $4,200 to over $29,000 annually, by eliminating complexity and high fees associated with traditional international wires and credit cards. The solution offers real-time payment processing, multilingual support, and improved payment visibility for both schools and families.
Flywire (FLYW) has appointed Carleigh Jaques to its Board of Directors and Audit Committee. Jaques brings extensive fintech and payments experience from her 15-year career at Visa, where she most recently served as SVP, Global Head of Risk & Identity Solutions. Her notable achievements include accelerating Visa's global fraud detection business, leading the Cybersource gateway expansion, and founding the Corporate Development and Venture function, where she managed Visa's $23 billion acquisition of Visa Europe. Jaques is an Advisory Board Member at the Wharton AI & Analytics Initiative and has been recognized among the Most Influential Women in Payments.
Flywire (FLYW), a global payments enablement and software company, has announced its participation in three upcoming investor conferences in November and December 2024. The company will attend the Stephens Annual Investment Conference in Nashville on November 19, participating in a fireside chat at 12:00pm CT. On November 20, they will join the FT Partners FinTech Conference in New York for investor meetings. Finally, on December 3, they will participate in a fireside chat at 9:35am MT during the UBS Global Technology and AI Conference in Scottsdale. The fireside discussions will be webcast live on Flywire's investor relations website, with replays available for 90 days.
Flywire (Nasdaq: FLYW) reported strong financial results for Q3 2024, with revenue growing 27.2% YoY to $156.8 million and net income reaching $38.9 million, up from $10.6 million in Q3 2023.
Key metrics include a 24.2% increase in Total Payment Volume to $11.0 billion and a 29.6% rise in Revenue Less Ancillary Services to $151.4 million. Gross Profit improved to $100.3 million, with a Gross Margin of 64.0%.
Adjusted EBITDA surged to $42.2 million, reflecting a 27.9% margin. The company signed over 200 new clients and repurchased 1.3 million shares for $23 million. Flywire raised its FY 2024 revenue guidance to $495-$503 million and Adjusted EBITDA to $76-$80 million.
Flywire (FLYW) has released a healthcare payment survey revealing significant patient demands for flexible payment solutions. 80% of respondents want installment payment options for medical bills, while 60% cannot afford unexpected medical expenses in one lump sum. The study highlights that 75% find medical bills too complicated, up from 65% in 2021.
Key findings show that 93% want easier ways to pay medical bills over time, and 85% desire buy-now, pay-later options. Security concerns are prevalent, with 67% worried about healthcare payment data breaches. Flywire's solutions have helped healthcare organizations increase revenue by 29% and reduce bad debt from 5.5% to 4%.
Flywire (Nasdaq: FLYW), a global payments enablement and software company, has announced that it will release its third quarter 2024 financial results after market close on Thursday, November 7, 2024. The company will host a conference call to discuss these results at 5:00pm ET on the same day.
The call will be led by Mike Massaro (CEO), Rob Orgel (President and COO), and Cosmin Pitigoi (CFO). Investors and interested parties can access the live webcast of the conference call through Flywire's investor relations website at https://ir.flywire.com/. A replay of the call will also be available on the same website following the event.
Flywire (Nasdaq: FLYW) showcased its strength in the U.S. higher education sector at its inaugural Flywire Fusion conference in Phoenix, Arizona. The event highlighted Flywire's momentum in solving cross-border and domestic payment challenges for over 100 U.S. institutions. Key highlights include:
- 100+ U.S. institutions use Flywire's Student Financial Software (SFS) platform
- 620,000+ payment plans activated to improve education affordability
- $276+ million collected in past-due tuition
- $55+ million achieved in pre-collection savings
Flywire unveiled new product enhancements, including a third-party invoicing solution, international recruitment platform, and StudyLink solution to maximize application conversion rates. The company emphasized its commitment to supporting the entire student financial journey, from enrollment to endowment, addressing challenges such as the looming enrollment cliff and resource constraints faced by institutions.
Flywire (Nasdaq: FLYW), a global payments enablement and software company, has announced its participation in two upcoming investor conferences. On September 11, 2024, Flywire will attend the Goldman Sachs Communacopia + Technology Conference in San Francisco, participating in a fireside chat at 3:05pm PT. On September 13, 2024, the company will join the Autonomous Future of Commerce Symposium, held virtually, for another fireside chat at 10:30am ET.
Both discussions will be webcast live on Flywire's investor relations website at https://ir.flywire.com/. Replays of the webcasts will remain available on the website for 90 days following the events, providing investors with extended access to the company's insights and updates.
Balderton Capital, a leading European VC firm, has announced $1.3 billion in new funds to support Europe's top entrepreneurs. This includes a $615 million Early Stage Fund IX and a $685 million Growth Fund II, aimed at backing ambitious startups from seed stage through IPO. The funds attracted a diverse mix of global investors, including a prominent US state pension and British Patient Capital.
Balderton's portfolio includes successful companies like Revolut, Dream Games, and GoCardless. The firm offers comprehensive support to founders, including a platform team, Executives in Residence, and a strong community network. Balderton also provides unique founder wellbeing initiatives, demonstrating its commitment to holistic entrepreneur support.
Flywire (NASDAQ: FLYW) reported strong Q2 2024 financial results, with revenue increasing 22% year-over-year to $103.7 million and revenue less ancillary services up 26% to $99.9 million. The company signed over 200 new clients across all verticals and announced the acquisition of Invoiced, an accounts receivable SaaS platform. Key highlights include:
- Total Payment Volume increased 19% to $4.9 billion
- Gross Profit rose to $61.9 million with a 59.7% margin
- Adjusted EBITDA improved to $5.8 million
- Board authorized a $150 million share repurchase program
Despite strong performance, Flywire lowered its FY2024 revenue outlook due to headwinds in the Canadian education business but raised its Adjusted EBITDA guidance, reflecting confidence in long-term potential.
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