Skip to main content

Flywire Corp

For the period ended Mar 31, 2025. Filed May 7, 2025.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed May 7, 2025

FLYW$22.13+2.6%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Cover page

Show cover page

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31,2025

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number:001-40430

(Exact Name of Registrant as Specified in its Charter)

Delaware27-0690799
(State or other jurisdiction ofincorporation or organization)(I.R.S. EmployerIdentification No.)
141 Tremont St #10Boston, MA02111
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code: (617)329-4524

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTradingSymbol(s)Name of each exchangeon which registered
Voting common stock, $0.0001 par value per shareFLYWThe Nasdaq Stock Market LLC(Nasdaq Global Select Market)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No☒

As of May 1, 2025, the registrant had 119,685,024 shares of voting common stock, $0.0001 par value per share, outstanding and 1,873,320 shares of non-voting common stock $0.0001 par value per share, outstanding.

Table of Contents

Page
Special Note Regarding Forward-Looking Statements1
PART I.FINANCIAL INFORMATION3
Item 1.Financial Statements (Unaudited)3
Condensed Consolidated Balance Sheets3
Condensed Consolidated Statements of Operations and Comprehensive Loss4
Condensed Consolidated Statements of Stockholders’ Equity5
Condensed Consolidated Statements of Cash Flows6
Notes to Condensed Consolidated Financial Statements7
Note 1. Business Overview and Summary of Significant Accounting Policies7
Note 2. Revenue and Recognition9
Note 3. Segment Information10
Note 4. Investments11
Note 5. Fair Value Measurements13
Note 6. Derivative Instruments16
Note 7. Accrued Expenses and Other Current Liabilities16
Note 8. Property and Equipment, net17
Note 9. Restructuring17
Note 10. Business Combinations17
Note 11. Goodwill and Acquired Intangible Assets21
Note 12. Debt22
Note 13. Stockholders’ Equity23
Note 14. Stock-Based Compensation25
Note 15. Net Income (Loss) per Share27
Note 16. Income Taxes27
Note 17. Commitments and Contingencies28
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations29
Item 3.Quantitative and Qualitative Disclosures About Market Risk46
Item 4.Controls and Procedures48
PART II.OTHER INFORMATION49
Item 1.Legal Proceedings49
Item 1A.Risk Factors49
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds97
Item 3.Defaults Upon Senior Securities98
Item 4.Mine Safety Disclosures98
Item 5.Other Information98
Item 6.Exhibits99
Signatures100
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.