Flywire Corp. (FLYW) experienced a massive 48.58% plunge intraday on Wednesday, following the company's release of its fourth-quarter 2024 financial results and weak guidance for the 2025 fiscal year.
In the fourth quarter, Flywire reported revenue of $117.6 million, missing analysts' expectations of $118.9 million. While the company's adjusted EBITDA of $16.7 million slightly exceeded estimates, its GAAP loss per share of $0.12 widely missed the estimated loss of $0.01 per share.
The disappointing performance was exacerbated by Flywire's lackluster guidance for 2025. The company projected revenue growth of 9% to 13% on a constant currency basis, significantly below analysts' expectations of a 19% increase. Flywire attributed the weak outlook to various headwinds, including visa policy changes in key markets like Canada and Australia, which negatively impacted student enrollment and tuition payments.
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