Flywire Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 04:40 pm EST
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Flywire Corporation reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 100.55 million compared to USD 73.05 million a year ago. Net income was USD 1.29 million compared to net loss of USD 1.13 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the full year, sales was USD 403.09 million compared to USD 289.38 million a year ago. Net loss was USD 8.57 million compared to USD 39.35 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.36 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to USD 0.36 a year ago.
Flywire Corporation is a global payments enablement and software company. The Company's payments platform, global payment network and vertical-specific software help its clients get paid and help their customers pay. The Company uses its vertical-specific software and payments technology to retail and e-commerce industries including education, healthcare, travel, and business-to-business (B2B) payments. Its customers integrate its platform into their existing apps and workflows once and have access to a full suite of solutions, including tailored invoicing, settlement, and reconciliation tools, single sign-on and checkout, recurring payments, and split payouts. The Company's platform automates and manages the process from initial invoice delivery through payment settlement and core system reconciliation. The Company serves more than 2,800 institutions. In healthcare, it serves more than 90 healthcare systems.