Flywire Stock Soars On Q4 Results: EPS Beat, Revenue Beat

Flywire Corporation FLYW reported better-than-expected fourth-quarter financial results after the bell Tuesday. Here's a look at the highlights. 

The Details:

Flywire reported quarterly earnings of 1 cent per share which beat the analyst consensus estimate of losses of 6 cents per share.

The company reported quarterly sales of $100.55 million which beat the analyst consensus estimate of $90.61 million by 10.97% and represents a 37.63% increase over sales of $73.05 million from the same period last year.

Total payment volume increased 33.2% to $5.4 billion in the fourth quarter of 2023, compared to $4.1 billion in the fourth quarter of 2022.

“Our strong fourth quarter results, which included nearly 43% year over year growth in revenue less ancillary services, capped off an exceptional year for Flywire as we continue to show strong performance across the business,” said Mike Massaro, CEO of Flywire.

“We are proud of all that we have accomplished in 2023, and excited for what is ahead for Flywire, with a plan that puts up strong growth numbers in a complex macro environment and further expands EBITDA in alignment with our multi-year targets,” added Massaro.

Outlook: 

Flywire sees first-quarter revenue in a range of $110 million to $117 million and fiscal year 2024 revenue in a range of $501 million to $535 million.

Related News: Berkshire Hathaway Report, Shareholder Letter Released: What’s Going On With The Stock?

FLYW Price Action: According to Benzinga Pro, Flywire shares are trading up 19.3% after-hours at $29.25 at the time of publication.

Image: Buffik from Pixabay