← Flywire Corp
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Net Income (Loss) Attributable to Parent | ($20.1m) |
($11.1m)
+44.79%
|
($28.1m)
-152.86%
|
($39.3m)
-40.10%
|
($8.6m)
+78.23%
|
$2.9m
+133.85%
|
$13.5m
+365.41%
|
|
| Net Income (Loss) Available to Common Stockholders, Basic | ($20.1m) |
($11.1m)
+44.79%
|
($28.1m)
-152.86%
|
($39.3m)
-40.10%
|
($8.6m)
+78.23%
|
$2.9m
+133.85%
|
$13.5m
+365.41%
|
|
| Depreciation, Depletion and Amortization | $3.7m | $6.8m | $9.0m | $12.3m | $15.8m | $17.4m | $26.1m | |
| Amortization of Debt Issuance Costs | — | — | — | $1.5m | $298k | $230k | $271k | |
| Amortization of Debt Issuance Costs and Discounts | — | $200k | $300k | $300k | $300k | $200k | $271k | |
| Amortization of Intangible Assets | — | $4.9m | $6.7m | $9.1m | $11.5m | $12.3m | $20.1m | |
| Capitalized Computer Software, Amortization | — | $100k | $800k | $1.6m | $2.9m | $3.6m | $4.8m | |
| Amortization of deferred contract costs | — | $414k | $245k | $1.8m | $1.8m | $972k | $1.7m | |
| Net accretion of discounts and amortization of premiums on investments | — | — | — | — | $0 | ($1.8m) | ($607k) | |
| Depreciation, Amortization and Accretion, Net | $3.7m | $1.9m | $2.3m | $3.2m | $4.2m | $5.1m | $6.0m | |
| Deferred Income Tax Expense (Benefit) | — | ($8.5m) | $146k | ($1.7m) | ($72k) | ($8.8m) | ($1.4m) | |
| Deferred tax (benefit) provision | ($11k) | ($8.5m) | $146k | ($1.7m) | $72k | ($8.8m) | ($1.4m) | |
| Share-based Payment Arrangement, Noncash Expense | — | $3.8m | $18.9m | $30.3m | $43.7m | $64.9m | $71.8m | |
| Share-based Payment Arrangement, Expense | — | $3.8m | $18.9m | $30.3m | $43.7m | — | — | |
| Stock-based compensation expense | $2.9m | $3.8m | $18.9m | $30.3m | $43.7m | $64.9m | $71.8m | |
| Capitalized stock-based compensation expense | — | — | — | $0 | $0 | $1.5m | $2.0m | |
| Goodwill, Impairment Loss | — | — | — | — | — | — | $0 | |
| Nonoperating Income (Expense) | — | ($2.5m) | ($12.7m) | ($7.1m) | $17.2m | $9.1m | $10.1m | |
| Other Nonoperating Income (Expense) | — | $697k | $109k | ($5.9m) | — | — | — | |
| Changes in operating assets and liabilities: | ||||||||
| Increase (Decrease) in Accounts Receivable | — | $1.6m | $587k | $323k | $2.1m | $5.3m | $6.8m | |
| Accounts Receivable, Credit Loss Expense (Reversal) | — | $237k | $165k | $152k | $326k | ($83k) | $2.4m | |
| Accounts receivable | ($431k) | ($1.6m) | ($587k) | ($323k) | ($2.1m) | ($5.3m) | ($6.8m) | |
| Unbilled receivables | ($1.1m) | ($401k) | ($1.6m) | ($1.9m) | ($5.4m) | ($4.8m) | ($4.5m) | |
| Accounts payable, accrued expenses and other current liabilities | $2.2m | $5.7m | $11.2m | $6.8m | $5.5m | $3.3m | $4.7m | |
| Deferred revenue | $838k | ($73k) | ($159k) | ($400k) | ($871k) | ($630k) | ($2.3m) | |
| Accrued excise tax related to common stock repurchase | — | — | — | $0 | $0 | $451k | $349k | |
| Increase (Decrease) in Other Operating Liabilities | — | $83k | $174k | ($1.9m) | ($1.3m) | ($1.5m) | ($676k) | |
| Prepaid expenses, other current assets and other assets | ($410k) | ($3.8m) | ($7.9m) | ($11.3m) | ($4.3m) | ($5.3m) | ($17.7m) | |
| Other liabilities | $444k | $83k | $174k | ($1.9m) | ($1.3m) | ($1.5m) | ($676k) | |
| Net Cash Provided by (Used in) Operating Activities | $4.1m |
($14.2m)
-449.20%
|
$17.1m
+220.45%
|
$5.4m
-68.32%
|
$80.6m
+1385.63%
|
$91.5m
+13.45%
|
$100.2m
+9.52%
|
|
| Cash flows from investing activities: | ||||||||
| Payments to Acquire Property, Plant, and Equipment | ($3.7m) | $2.1m | $6.7m | $7.1m | $1.0m | $924k | $1.4m | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | — | — | — | — | — | $100k | |
| Purchase of short-term and long-term investments | — | — | — | $0 | $0 | ($193.9m) | ($16.1m) | |
| Proceeds from the maturity and sale of short-term and long-term investments | — | — | — | $0 | $0 | $29.6m | $156.6m | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $79.4m | $56.1m | $17.1m | $32.8m | $45.2m | $324.9m | |
| Acquisitions of businesses, net of cash acquired | $0 | ($79.4m) | ($56.1m) | ($17.1m) | ($32.8m) | ($45.2m) | ($324.9m) | |
| Contingent consideration paid for acquisitions | ($12.4m) | ($1.3m) | ($3.8m) | ($3.7m) | ($1.2m) | ($1.0m) | ($3.7m) | |
| Net Cash Provided by (Used in) Investing Activities | ($3.7m) | ($81.5m) | ($62.9m) | ($24.7m) | ($38.8m) | ($215.8m) | ($194.2m) | |
| Cash flows from financing activities: | ||||||||
| Repayments of Long-term Debt | — | $4.2m | $25.0m | $25.9m | $0 | $0 | $125.0m | |
| Proceeds from Issuance of Long-term Debt | — | $4.2m | $25.9m | $0 | $0 | — | $125.0m | |
| Payment of debt issuance costs | $0 | ($172k) | ($418k) | $0 | $0 | ($783k) | ($758k) | |
| Payments for Repurchase of Common Stock | — | $0 | $0 | — | — | — | — | |
| Proceeds from Issuance of Common Stock | — | — | — | $1.3m | $2.7m | — | — | |
| Proceeds from issuance of common stock under public offering, net of underwriting discount and commissions | — | — | $0 | $0 | $261.1m | $0 | $0 | |
| Common stock repurchased | — | — | — | $0 | $0 | ($43.7m) | ($74.3m) | |
| Issuance of common stock for retention bonus, Value | — | — | $0 | $0 | $1.2m | $324k | $0 | |
| Net cash (used in) provided by financing activities | ($3.9m) |
$119.0m
+3140.84%
|
$327.5m
+175.11%
|
($24.0m)
-107.32%
|
$263.4m
+1198.95%
|
($37.6m)
-114.29%
|
($78.4m)
-108.34%
|
|
| Net Cash Provided by (Used in) Financing Activities | — | $119.0m |
$327.5m
+175.11%
|
($24.0m)
-107.32%
|
$263.4m
+1198.95%
|
($37.6m)
-114.29%
|
($78.4m)
-108.34%
|
|
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | $23.0m | $280.3m | ($38.2m) | $303.4m | ($159.4m) | ($164.9m) | |
| Cash and cash equivalents, beginning of period | $86.0m | $109.1m | $389.4m | $351.2m | $654.6m | $495.2m | $330.3m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | $109.1m | $389.4m | $351.2m | $654.6m | $495.2m | $330.3m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | — | $5.0m | ($1.8m) | $2.6m | $7.5m | |
| Effect of exchange rates changes on cash and cash equivalents | $15k | ($259k) | ($1.4m) | $5.0m | ($1.8m) | $2.6m | $7.5m | |
| Additional Supplementary Disclosures | ||||||||
| Additional Supplementary Disclosures | ||||||||
| Additional Supplementary Disclosures | ||||||||
| Proceeds from Stock Options Exercised | — | $773k | $6.9m | $7.0m | $10.4m | $5.6m | $2.3m | |
| Supplemental disclosure of cash flow information: | ||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | ($1.9m) | $2.1m | $1.6m | $770k | $0 | $0 | $2.6m | |
| Income Taxes Paid, Net | — | — | — | — | — | — | $11.1m | |
| Additional Financial Items | ||||||||
| Foreign Currency Transaction Gain (Loss), before Tax | — | — | — | — | $4.2m | ($11.8m) | $7.9m | |
| Foreign Currency Transaction Gain (Loss), Unrealized | — | — | — | — | — | — | $11.9m | |
| General and Administrative Expense | — | $42.7m | $61.6m | $82.9m | $107.6m | $125.8m | $135.5m | |
| Goodwill | — | $44.6m | $85.8m | $97.8m | $121.6m | $149.6m | $406.5m | |
| Income Tax Expense (Benefit) | — | ($7.2m) | $2.2m | $2.0m | $4.2m | ($1.0m) | $7.9m | |
| Interest Expense Nonoperating | — | — | — | — | — | $538k | $3.5m | |
| Operating Expenses | — | $147.6m | $214.4m | $319.6m | $424.6m | $499.4m | $611.7m | |
| Realized Investment Gains (Losses) | — | — | — | — | — | $0 | $200k | |
| Unrealized (gain) loss on remeasurement of foreign currency | — | — | — | — | $2.3m | $11.6m | ($11.9m) | |
| Change in fair value of contingent consideration | $660k | $5.4m | $2.3m | ($2.8m) | $380k | ($978k) | ($1.9m) | |
| Change in provision for uncollectible accounts | $253k | $237k | $165k | $152k | $326k | ($83k) | $2.4m | |
| Non-cash interest income | — | — | — | $0 | $0 | ($1.4m) | $0 | |
| Funds receivable from payment partners | $1.2m | ($6.0m) | ($5.8m) | ($30.9m) | $51.0m | $23.8m | ($63.7m) | |
| Funds payable to clients | $13.3m | ($5.3m) | $11.3m | $48.9m | $86.6m | $6.9m | $91.8m | |
| Contingent consideration | $0 | ($693k) | ($3.2m) | ($4.5m) | ($467k) | ($93k) | ($475k) | |
| Capitalization of internally developed software | — | — | ($5.6m) | ($5.7m) | ($5.0m) | ($5.3m) | ($8.5m) | |
| Proceeds from issuance of revolving credit facility | $10.0m | $4.2m | $25.9m | $0 | $0 | $0 | $125.0m | |
| Payment of revolving credit facility | $0 | ($4.2m) | ($25.0m) | ($25.9m) | $0 | $0 | ($125.0m) | |
| Payments of costs related to public offering | — | — | $0 | $0 | ($1.1m) | $0 | $0 | |
| Payments of tax withholdings for net settled equity awards | — | $0 | $0 | ($2.6m) | ($8.5m) | ($797k) | ($4.2m) | |
| Proceeds from the issuance of stock under Employee Stock Purchase Plan | — | $0 | $0 | $1.3m | $2.7m | $3.1m | $3.3m | |
| Proceeds from exercise of stock options | $453k | $773k | $6.9m | $7.0m | $10.4m | $5.6m | $2.3m | |
| Deferred acquisition payment | — | — | — | — | $0 | $0 | ($1.0m) | |
| Net change in cash and cash equivalents | ($3.6m) | $23.0m | $280.3m | ($38.2m) | $303.4m | ($159.4m) | ($164.9m) |