Flywire Q1 Revenue Up 41% to $188.1M, Launches $50M Share Buyback
Flywire's Q1 revenue rose 41% to $188.1M, less ancillary services revenue climbed 43% to $184M and adjusted EBITDA jumped 82% to $39.3M (21.4% margin). Raised growth guidance on revenue less ancillary services by 300 bps, EBITDA margin by 25 bps and launched a $50M share repurchase.
1. Financial Highlights
First quarter revenue rose 41% to $188.1M compared to $133.5M a year earlier, with revenue less ancillary services up 43% to $184M. GAAP gross margin was 56.8%, net income was $12.5M versus a $4.2M loss in Q1 2025, and adjusted EBITDA increased 81.8% to $39.3M (21.4% margin).
2. Updated Guidance and Share Repurchase
Full-year revenue less ancillary services growth guidance was raised by 300 basis points at the midpoint and adjusted EBITDA margin guidance increased by 25 basis points. The board authorized a $50M accelerated share repurchase program, deploying $10M in Q1 and leaving $172M available under the plan.
3. Client Acquisition and Partnerships
Flywire signed over 200 new clients across all verticals and expanded its partnership with Inspired Education Group into premium European K–12 schools. A new collaboration with Scholarship America automates scholarship disbursements, replacing manual checks with digital payments and deepening Flywire’s education payment ecosystem.
4. Product Development and Technology
The company embedded AI in its development process, cutting payment processing time by 20% and accelerating releases. Enhancements to Student Financial Software include automated student communications, multidebt collection support and certified integration with Workday Student, reducing administrative inquiries by 40%.