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 Corporation (FLYW) has partnered with HDFC Bank to streamline international education payments for Indian students. This fully digital checkout process simplifies compliance with the Liberalised Remittance Scheme (LRS), allowing students to pay tuition fees directly in Indian rupees. The integration provides education institutions with timely payments and full transaction transparency. As Indian students increasingly seek higher education abroad, this partnership addresses their need for simplified, fast payment solutions, promising to enhance their overall educational experience.
Flywire Corporation (Nasdaq: FLYW) recently announced its participation in several upcoming investor conferences. The management team will host a fireside chat at the Citi 2022 Global FinTech Conference on November 14, 2022, at 2:15 PM ET, followed by the Credit Suisse 26th Annual Technology Conference on November 29, 2022, at 4:20 PM ET, and the Wells Fargo 6th Annual TMT Summit on November 30, 2022, at 1:40 PM ET. These events will be webcast live, with replays available for 90 days on the company's investor relations website.
Flywire Corporation (Nasdaq: FLYW) reported robust financial results for Q3 2022, showcasing a 40% year-over-year revenue increase to $95.2 million. Adjusted gross profit reached $61.3 million, with a gross margin of 64.4%. However, the company posted a net loss of $4.3 million, a decline from a net income of $10 million in Q3 2021. Total payment volume grew 33% to $7.0 billion. For Q4 2022, Flywire anticipates revenue ranging from $69.3 million to $72.6 million.
Flywire Corporation (Nasdaq: FLYW) will release its third quarter 2022 financial results on November 8, 2022, after market close. A conference call will follow at 5:00 PM ET, featuring CEO Mike Massaro, President Rob Orgel, and CFO Mike Ellis. Investors can access the call via Flywire's investor relations website. Flywire provides a global payments enablement platform, serving over 2,800 clients in more than 240 countries. The company focuses on industries such as education, healthcare, and travel, facilitating complex payment processes through its proprietary technology.
Flywire has integrated its payment solutions with Universitas XXI, enhancing the payment experience for students and universities in Spain and Latin America. This partnership supports international and domestic payment flows and allows students to pay in their local currency. Flywire's digital platform addresses challenges related to managing diverse payment systems, enabling universities to streamline operations while offering customizable payment plans. The collaboration aims to meet the increasing demand for efficient payment solutions as Spain and Latin America become more popular educational destinations.
Flywire Corporation (Nasdaq: FLYW), a leader in global payments enablement, announced participation in two upcoming investor conferences. The first is a fireside chat at the Goldman Sachs Communacopia + Technology Conference in San Francisco on September 12, 2022, starting at 7:30 PM ET. The second is a virtual fireside chat at the Autonomous Future of Commerce Symposium on September 15, 2022, at 10:00 AM ET. Both events will be webcast live via Flywire’s investor relations website, with replays available for 90 days.
Flywire reported a robust second quarter for 2022, achieving a 53% revenue increase year-over-year, totaling $56.5 million. Revenue less ancillary services surged 56% to $51.5 million. Total payment volume also grew 49% to $2.9 billion. Despite this growth, net loss widened to $(23.8) million from $(18.1) million in 2021. Adjusted EBITDA remained negative at $(6.1) million. Looking ahead, Flywire expects third-quarter revenue between $94 million and $98 million and fiscal-year revenue between $283 million and $294 million.
Flywire Corporation has acquired Cohort Go, enhancing its position in the international education payments sector. This strategic move aims to expand Flywire’s agent focus and accelerate product innovation for international students. With Cohort Go's network of over 1,000 agents in nearly 40 geographies, Flywire seeks to leverage new growth opportunities in the Asia-Pacific region. The acquisition is anticipated to modestly boost both revenue and adjusted EBITDA, as Flywire continues to address challenges in the education ecosystem.
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