Flywire Corporation reported significant financial results for the second quarter of 2025, with revenue reaching $131.9 million, a 27.2% increase from $103.7 million in the same period last year. For the first half of 2025, revenue totaled $265.3 million, up 21.8% from $217.8 million in the first half of 2024. Despite this growth, the company recorded a net loss of $12.0 million for the quarter, slightly improved from a loss of $13.9 million in the prior year. The net loss for the first half of 2025 was $16.2 million, compared to a loss of $20.1 million in the same period of 2024.
The increase in revenue was driven by a rise in transaction revenue, which grew to $100.6 million in Q2 2025 from $85.3 million in Q2 2024, reflecting a 17.9% increase. Platform and other revenues surged by 70.1%, reaching $31.3 million, attributed to the contributions from recent acquisitions, including Sertifi and Invoiced. The company’s total payment volume also saw a notable increase, rising 22% year-over-year to $5.9 billion in Q2 2025.
Flywire's operational metrics indicate a growing client base, with over 4,700 clients globally, including more than 3,100 educational institutions. The company has expanded its global reach to over 240 countries and territories, processing payments in more than 140 currencies. The company’s dollar-based net retention rate was approximately 114% for the year ended December 31, 2024, indicating strong client retention and expansion.
Strategically, Flywire completed the acquisition of Sertifi LLC in February 2025 for $330 million, aimed at enhancing its travel business and expanding its offerings to over 20,000 hotel locations. The acquisition is expected to contribute significantly to revenue growth, with Sertifi generating $7.7 million in platform revenue during Q2 2025. Additionally, the company announced a restructuring plan in February 2025 to improve operational efficiencies, which resulted in restructuring costs of $1.4 million in Q2 2025.
Looking ahead, Flywire anticipates continued growth driven by its expanding client base and increased utilization of its payment platform. However, the company acknowledges potential challenges, including macroeconomic factors and changes in international student visa policies that could impact its education vertical. The company remains focused on enhancing its technology and product offerings while managing costs effectively to achieve long-term profitability.
About Flywire Corp
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