Welcome to our dedicated page for Flywire Corporation news (Ticker: $FLYW), a resource for investors and traders seeking the latest updates and insights on Flywire Corporation stock.
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Flywire (Nasdaq: FLYW) has expanded the availability of its third-party invoicing solution to improve efficiency and cash flow for higher education institutions. The solution streamlines payments from third-party sponsors such as corporate employers and government agencies, reducing administrative burdens and accelerating revenue collection. With a global payment network supporting over 140 currencies, Flywire's system allows institutions to issue, track, and manage invoices more effectively. Key benefits include a 20% reduction in A/R collection times and a 70% increase in timely tuition payments. This expansion aims to support continuous enrollment and administrative efficiency for institutions worldwide.
Flywire (Nasdaq: FLYW) will be attending several investor conferences in May and June 2024, including J.P. Morgan Technology, William Blair Growth, Morgan Stanley US Financials, and RBC FinTech conferences. The Company's management team will participate in fireside chat discussions at these events, which will be webcast live and available for replay on Flywire's investor relations website.
Flywire (Nasdaq: FLYW) reported a 21% increase in revenue in the first quarter of 2024, reaching $114.1 million. Net loss was $6.2 million, up from $3.7 million in the same period in 2023. Total Payment Volume rose by 23% to $7.0 billion. The Company signed over 200 new clients, strengthened its management team, and expanded partnerships with key entities. Flywire projects revenue of $491 to $519 million for Fiscal-Year 2024.
