Flywire (FLYW)
Processes complex receivables with vertical software and a global payment network.
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Combines payment processing, a proprietary global network, and receivables software for education, healthcare, travel, and B2B clients. Most revenue comes from transaction activity, while platform fees and acquired workflow products broaden a business reported as a single segment.
Combines a global payment network, payment-processing platform, and vertical software to collect and reconcile complex domestic and cross-border receivables. Education tools cover tuition, admissions, agents, and payment plans; healthcare products manage patient billing and engagement; travel products handle hospitality payments, contracts, and authorizations; and B2B software automates invoicing, collections, reporting, and cash forecasting.
Embeds these tools into client workflows and back-office systems while giving payers local currencies and payment methods across a broad international network. Revenue comes mainly from transaction fees, with software subscriptions, usage fees, payment plans, and ancillary services adding a smaller stream. Operations are reported as a single segment; payment volumes depend partly on international student mobility, and service delivery relies on banking, payment-network, and processing partners operating under financial, privacy, and security rules.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 31, 2026 | RBC Capital | Reiterate | Rating: —Target: — | Target: $25 |
| Aug 25, 2026 | Wolfe Research | Reiterate | Rating: —Target: $19 | Target: $23 |
| Aug 17, 2026 | Seaport Global | Reiterate | Rating: —Target: $18 | Target: $22 |
| Aug 14, 2026 | Truist Financial | Target | Target: $18 | Target: $19 |
| Aug 5, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $20 | Target: $22 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $294.2M · Total debt $0 · Total assets $1.16B · Shareholders' equity $816.6M
- Revenue
- $167.7M
- Operating income
- −$2.8M
- Net income
- −$8.1M
No dividends on record.
| Institutions | ≈ 105.73% | 128.64M shares | |
|---|---|---|---|
| 247 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 14.33% | 17.44M shares | |
| 16 holders · as of Sep 15, 2026 | |||
| Strategic holders | 6.39% | 7.77M shares | |
| 1 holder · as of Jan 29, 2024 | |||
| Adds to | 126.45% | ||
121.67M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 126.45%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Voss Capital, LPInstitution | 11.20% | 13.63M | as of Jun 30, 2026 |
Bain Capital Venture Fund 2014, L.P.Institution | 11.16% | 13.57M | filed Feb 14, 2022 |
Alex FinkelsteinInsider | 10.80% | 13.14M | filed Feb 10, 2022 |
BlackRock, Inc.Institution | 7.52% | 9.14M | as of Jun 30, 2026 |
BlackRock, Inc.Strategic | 6.39% | 7.77M | filed Jan 29, 2024 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 11, 2026 | David R. King | officer: See Remarks | −36,900 | $17.88 |
| Sep 8, 2026 | Peter Butterfield | officer: General Counsel and CCO | −12,156 | $17.99 |
| Sep 2, 2026 | Mohit Kansal | officer: Chief Payments Officer | −12,423 | $18.69 |
| Sep 1, 2026 | Michael Massaro | director, officer: Chief Executive Officer | −112,500 | $18.39 |
| Aug 28, 2026 | Voss Capital, LP | 10 percent owner | −44,768 | $18.78 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Flywire | $17.15 | +0.12% | $2.08B | 66.4 | 22.8 | 2.9 | +24.2% |
| Global Payments | $84.72 | −0.67% | $21.17B | — | 5.8 | 2.1 | +61.5% |
| Corpay | $389.75 | −1.88% | $25.96B | 24.2 | 13.3 | 5.2 | +21.5% |
| Nelnet | $126.32 | +0.02% | $4.54B | 15.2 | 15.2 | 2.4 | −33.6% |
| BILL | $46.49 | −1.21% | $4.69B | — | 12.7 | 2.8 | +13.8% |
| Waystar | $25.30 | −1.59% | $4.93B | 36.7 | 14.5 | 4.1 | +18.1% |
| Median | 24.2 | 13.3 | 2.8 | +18.1% |