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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 Corporation (Nasdaq: FLYW) announced its first quarter 2023 financial results will be released on May 9, 2023, after market close. The company will host a conference call at 5:00 PM ET the same day, featuring CEO Mike Massaro, President and COO Rob Orgel, and CFO Mike Ellis. Interested parties can access the live webcast on Flywire’s investor relations website, where a replay will also be available. Flywire is a global payments enablement and software company that integrates its services across various sectors including education, healthcare, and travel, supporting over 3,100 clients with diverse payment methods in more than 140 currencies globally.
Flywire (Nasdaq: FLYW) has been named 2022 Ellucian Partner of the Year for Integration Excellence. This recognition highlights Flywire's advanced payment solutions for the higher education sector, enhancing student payment experiences and operational efficiencies for institutions. The integration with Ellucian’s systems allows universities to automate transactions from application fees to tuition payments. The partnership has expanded globally, responding to increased student mobility. Research indicates that 81% of IT leaders find integration with systems crucial for managing ERP challenges.
Flywire Corporation (Nasdaq: FLYW) announced its participation in several key investor conferences. The events include:
- March 6, 2023: Raymond James 44th Annual Institutional Investors Conference in Orlando, FL.
- March 13, 2023: Loop Capital Markets Conference in New York, NY.
- March 14, 2023: Wolfe Research FinTech Forum in New York, NY, featuring a fireside chat at 1:10 pm ET.
- March 21, 2023: Virtual Bank of America Securities 2023 Electronic Payments Symposium, with a fireside chat at 10:15 am ET.
These discussions will be webcast live and available for replay for 90 days on Flywire’s investor relations website.
Flywire Corporation reported robust financial growth in its fourth quarter and fiscal year 2022. Revenue increased by 42% year-over-year to $73.1 million, while gross profit rose by 35% to $41.5 million. Net loss narrowed to $1.1 million from $11.2 million in the prior year. For fiscal year 2022, total revenue surged 44% to $289.4 million. The company anticipates first quarter 2023 revenue between $85 million and $91 million, and fiscal-year 2023 revenue between $373 million and $392 million, reflecting strong demand across various sectors.
Flywire has announced a partnership with FranConnect to enhance the payment experience for franchisors, facilitating both domestic and international transactions. This integration will allow franchisors to efficiently collect royalties and fees in various currencies through Flywire’s B2B payments platform. The partnership aims to streamline payment processes, reduce costs, and improve cash flow for franchise businesses. In the context of a growing franchise industry that contributes significantly to the U.S. economy, this collaboration positions Flywire as a vital player in supporting franchisors looking to expand globally.
Flywire Corporation (Nasdaq: FLYW) will release its fourth quarter and full year 2022 financial results on February 28, 2023, after market close. A conference call is scheduled for 5:00 PM ET that same day, featuring CEO Mike Massaro, President Rob Orgel, and CFO Mike Ellis.
The call will be accessible via a live webcast on Flywire’s investor relations website, with a replay available afterward. Flywire specializes in global payments enablement and software, serving over 3,000 clients across various sectors like education, healthcare, and travel, utilizing a proprietary global payments network.
Flywire has announced the appointment of Diane Offereins to its Board of Directors, effective immediately, while Yvonne Hao and Jo Natauri have stepped down. Offereins, currently EVP and President at Discover Financial Services, brings extensive experience in payments and financial services, having led Discover's payments business, which handled over $500 billion in transactions in 2021. CEO Mike Massaro noted her potential to drive Flywire's growth, highlighting the board's evolution following Natauri and Hao's contributions.
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