Q3 2024 Flywire Corp Earnings Call Transcript
Key Points
- Flywire Corp (FLYW) reported a 29.6% year-over-year increase in revenue, reaching $151.4 million for Q3 2024.
- The company achieved an adjusted EBITDA of $42.2 million, marking a $14.7 million increase year over year.
- Flywire Corp (FLYW) has successfully expanded its client base, adding over 200 new clients across various verticals.
- The company has a strong global presence with 4,000+ clients in 50 countries, supported by a robust global payments infrastructure.
- Flywire Corp (FLYW) continues to see strong growth in its travel and B2B verticals, with healthcare returning to modest revenue growth.
- Flywire Corp (FLYW) faces macroeconomic challenges in its education business due to restrictive immigration policies in Canada and potential future actions in Australia.
- The company's adjusted gross profit margin declined by about 130 basis points compared to Q3 2023.
- Revenue growth in the Canadian education market is expected to be flat in 2025 due to ongoing political and immigration challenges.
- The Australian education market, while smaller, is experiencing early moderation in revenue growth rates.
- Flywire Corp (FLYW) anticipates continued pressure on revenue growth rates due to external macro headwinds, particularly in the education sector.
Good day, and welcome to the Flywire third quarter of 2024 earnings conference call. All participants will be in a listen-only mode for the duration of the call. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Also, please be aware that today's call is being recorded.
I would now like to turn the call over to Masha Kahn, investor relations. Please go ahead.
Thank you and good afternoon. With us in today's call are Mike Massaro, chief executive officer; Rob Orgel, president and chief operating officer; and Cosmin Pitigoi, chief financial Officer. Our third quarter 2024 earnings press release, supplemental presentation, and when filed Form 10-Q can be found at ir.Flywire.com During the call, we'll discuss certain forward-looking information. Actual results could differ materially from those contemplated by these forward-looking statements.
We'll also be discussing certain non-GAAP financial measures. Please refer to our press release and SEC
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
