AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Flywire's Q2 FY2026 revenue grew 27.2% YoY to $167.7M on 43.1% transaction payment volume growth, but gross margin compressed to 53.4% from 57.0% as lower-margin payment processing mix expanded.
Biggest Revenue Drivers
Transaction revenue$135.9M+35.1% YoY
Growth in transaction payment volumes from existing and new clients; transaction payment volume rose 43.1% to $7.1B
Platform and other revenues$31.8M+1.7% YoY
Increased utilization in healthcare and SFS platform products, offset by the insurance business
Biggest Revenue Drivers
Total revenue: $167.7M+27.2% YoY
Transaction revenue$135.9M+35.1% YoY
Growth in transaction payment volumes from existing and new clients; transaction payment volume rose 43.1% to $7.1B
Platform and other revenues$31.8M+1.7% YoY
Increased utilization in healthcare and SFS platform products, offset by the insurance business
Largest Expense Items
Payment processing services costs$74.7M+38.6% YoY
Correlated with 43.1% transaction payment volume growth and business mix shifts toward higher-cost payment processing capabilities
Selling and marketing$38.9M+1.3% YoY
Higher stock-based compensation and personnel costs, offset by lower engineering tools and professional fees
General and administrative$38.5M+27.5% YoY
Higher engineering tools, professional fees, net hedging activity losses, and personnel costs
Technology and development$18.4M+7.6% YoY
Higher personnel costs from increased headcount, partially offset by lower stock-based compensation and software tools
Margins: Gross margin fell to 53.4% from 57.0% YoY (Adjusted Gross Margin 56.6% vs 61.1%) as growing domestic transactions, credit card usage, and expansion of lower-margin payment processing capabilities in healthcare, travel and B2B pressured margins, partially offset by payment cost optimization.
Watch Items from the Filing
Payment partner concentration: Partner B represented 47% of funds receivable from payment partners as of June 30, 2026, up from 25% at December 31, 2025.
Securities class action (Hickman v. Flywire) alleges overstated revenue growth and understated visa-policy impacts; company filed a motion to dismiss June 15, 2026 but cannot estimate potential exposure.
Company made voluntary OFAC disclosures after internal review found possible sanctions compliance issues, including payments potentially from sanctioned jurisdictions; management believes any loss would not be material.
Tightening student visa policies in Australia, Canada, the U.K., and new U.S. H-1B fees ($100,000 per petition) are cited as ongoing headwinds to the education vertical and hiring costs.
Total payment volume grew 38.2% YoY to $8.2B and annual net dollar-based retention was approximately 110% for FY2025, indicating strong existing-client expansion.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
6 transactions in FLYW reported by 2 members of Congress under the STOCK Act, most recent trade Apr 17, 2025. Reported transactions, not recommendations.
About Flywire Corp (FLYW): stock profile, AI score and financials
Flywire Corp (FLYW) stock profile, AI quality score, and SEC EDGAR financial data, a Industrials sector company. 13F Pro's AI-powered ranking engine scores FLYW at 66.6/100 on a composite quality score built from its SEC filings, placing it at rank #400 of 2,925 stocks — the top 25% of the AI-ranked universe. FLYW scores in the top quartile across earnings quality (89.8), institutional flow (89.7), revenue growth (86.2). Shareholder dilution risk is elevated at 14.4/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Flywire Corp reports quarterly revenue of $167.7M, net income of $-8.1M, an operating margin of -1.7%. Top institutional holders of FLYW by reported 13-F value include Voss Capital, BlackRock, Divisadero Street Capital Management, based on the most recent SEC filings. FLYW trades on the Nasdaq exchange and files with the SEC under CIK 1580560. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FLYW daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Flywire Corp directly from SEC EDGAR.