Flywire reported strong third-quarter results with significant year-over-year revenue growth across its verticals, driven by new client acquisition and deepening existing relationships. The company also raised its full-year guidance for revenue and Adjusted EBITDA, reflecting better-than-expected operational trends.
Revenue increased 27.6% to $200.1 million, with Sertifi contributing 8 points of growth.
positiveRevenue Less Ancillary Services increased 28.2% to $194.1 million, and 26.3% on an FX-neutral basis.
positiveTotal Payment Volume increased 26.4% to $13.9 billion.
positiveAdjusted EBITDA increased 35.3% to $57.1 million, with Adjusted EBITDA margin increasing by 155 bps to 29.4%.
positiveFull-year 2025 revenue guidance raised by 400 bps at the midpoint, and Adjusted EBITDA margin guidance raised by 75 bps at the midpoint.
positiveGross Margin decreased to 62.3% from 64.0% in the prior year.
attentionAdjusted Gross Margin decreased to 65.7% from 67.3% in the prior year.
attentionNet income decreased to $29.6 million from $38.9 million in the prior year.
negativeCash and cash equivalents decreased from $495.2 million to $354.9 million.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Flywire's third-quarter results demonstrate the strength of our solutions and sustained momentum across all four verticals.
We continued to grow market share, adding more than 200 new clients, deepening existing relationships, and expanding deal size — all while maintaining strong profitability.
Supported by a better than expected macro backdrop, these results highlight the growing demand for Flywire solutions as the increasing number of clients turn to us to modernize complex payment processes and drive efficiency at scale.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.