FLYW — what changed in the latest 10-Q
A section-by-section comparison of FLYW's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-05 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +68 | −33 | ~33 | 90 |
| Market risk (Item 3) | Text added/removed | +4 | −3 | ~5 | 3 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 3 |
| Risk factors | Some risk factors updated | +74 | −63 | ~44 | 392 |
| Other information | Text added/removed | +3 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-05
Rapid domestic and international payments volume growth. We have grown our total payment volume by approximately 38.2% period-over-period from $5.9 billion during the three months ended June 30, 2025 to $8.2 billion during the three months ended June 30, 2026. We have grown our total payment volume …
generated revenue of $623.0 million and $492.1 million for the years ended December 31, 2025 and 2024, respectively, and reported net income of $13.5 million and $2.9 million, respectively, for the same years. We generated revenue of $355.9 million and $265.3 million for the six months ended June 30…
In February 2025, we entered into a Purchase and Sale Agreement (the Agreement) to acquire the business of Sertifi LLC (Sertifi) for upfront cash consideration of $330.0 million, subject to certain post-closing adjustments set forth in the Agreement, and contingent consideration of up to $10.0 milli…
Flywire could experience reduced transaction volumes and delayed payment flows from its Australian clients’ Indian student corridors due to slower visa processing times, increased application friction, and potential declines in enrollment. These factors could adversely affect our revenue growth in t…
Elimination of Graduate PLUS Loans: The Grad PLUS loan program was eliminated for new borrowers starting July 1, 2026 (with legacy grandfathering options available for up to three academic years for existing borrowers).
Text removed vs the prior filing · source: 10-Q · 2026-05-06
Rapid domestic and international payments volume growth. We have grown our total payment volume by approximately 36.5% period-over-period from $8.4 billion during the three months ended March 31, 2025 to $11.4 billion during the three months ended March 31, 2026.
$188.1 million and $133.5 million for the three months ended March 31, 2026 and 2025, respectively, and reported net income of $12.5 million and net loss of $4.2 million, respectively, for the same periods.
On May 5, 2026, we announced our intention to initiate an accelerated share repurchase (ASR) program of up to $50.0 million under our existing Repurchase Program. We believe this intended action reflects our conviction in the intrinsic value of our business and our ability to generate consistent ope…
In February 2025, we entered into a Purchase and Sale Agreement (the Agreement) to acquire the business of Sertifi LLC (Sertifi) for upfront cash consideration of $330.0 million, subject to certain post-closing adjustments set forth in the Agreement, and contingent consideration of up to $10.0 milli…
Flywire could experience reduced transaction volumes and delayed payment flows from its Australian clients’ Indian student corridors due to slower visa processing times, increased application friction, and potential declines in enrollment. These factors could adversely affect our revenue growth in t…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-08-05
foreign agency securities, commercial paper, agency bond and asset-backed debt securities. An immediate 10% increase or decrease in interest rates would not have a material effect on our financial position, results of operations or cash flows.
As of June 30, 2026 and December 31, 2025, there was no outstanding indebtedness under the 2024 Amended Revolving Credit Facility. An immediate 10% increase or decrease in interest rates would not have a material effect on our financial position, results of operations or cash flows.
have impacted income (loss) before income taxes by approximately $24.0 million and $25.3 million as of June 30, 2026 and December 31, 2025, respectively.
Inflation did not have a material effect on our cash flows and results of operations during the six months ended June 30, 2026. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through increase in prices of our product of…
Text removed vs the prior filing · source: 10-Q · 2026-05-06
recent consolidated financial information and ranges from 1.0% to 2.5%. The 2024 Amended Revolving Credit Facility incurs a commitment fee ranging from 0.25% to 0.35% based upon our consolidated total net leverage ratio as of the most recent consolidated financial information assessed on the average…
As of March 31, 2026 and December 31, 2025, there was no outstanding indebtedness under the 2024 Amended Revolving Credit Facility. An immediate 10% increase or decrease in interest rates would not have a material effect on our financial position, results of operations or cash flows.
Inflation did not have a material effect on our cash flows and results of operations during the three months ended March 31, 2026. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through increase in prices of our product…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-05
We may not be able to scale our business quickly enough to meet our growing client base, and our technology and systems transformation program may not be successful.
We were incorporated in 2009 and although we have only generated net income for the years ended December 31, 2024 and 2025, we have incurred net losses in the past, and may incur net losses in the future. We generated net income of $13.5 million and $2.9 million for the years ended December 31, 2025…
Our operational and business portfolio reviews are ongoing, and are expected to encompass geographies, products, verticals, and cost structure, and explore various options and an operational cost-saving review to identify efficiencies and synergies across all of our business areas, including opportu…
estimated cost savings may be lower than forecasted. We may not achieve the desired strategic, operational, and financial benefits of any actions previously taken, or taken in the future, as a result of our operational and business portfolio reviews. Further, we may not be able to successfully execu…
necessary or that we will be able to hire enough qualified individuals or build effective channel sales in the future. If we are unable to hire, develop, integrate, and retain talented and effective sales personnel, if our new and existing sales personnel are unable to achieve desired productivity l…
Text removed vs the prior filing · source: 10-Q · 2026-05-06
We may not be able to scale our business quickly enough to meet our growing client base.
We were incorporated in 2009 and although we have only generated net income for the years ended December 31, 2024 and 2025, we have incurred net losses in the past, and may incur net losses in the future. We generated net income of $13.5 million and $2.9 million for the years ended December 31, 2025…
global pandemics, such as COVID-19, or other public health emergencies;
number of our clients’ customers that use our solutions, our revenue growth and operating results will be adversely affected. Further, in an effort to attract new clients and increase usage by their customers, we may need to offer simpler, lower-priced payment options, which may reduce our revenue a…
Our operational and business portfolio reviews are ongoing, and are expected to encompass geographies, products, verticals, and cost structure, and explore various options and an operational cost-saving review to identify efficiencies and synergies across all of our business areas, including opportu…
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-05
On June 8, 2026, Rob Orgel, our President and Chief Operating Officer, adopted a trading arrangement for the sale of shares of our common stock that is intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c) (a Rule 10b-5 Trading Plan). Mr. Orgel's Rule 10b-5…
On June 12, 2026, David King, our Chief Product Officer and Co-President of Global Education, adopted Rule 10b-5 Trading Plan for the sale by the DR King Revocable Trust of shares of our common stock. Mr. King's Rule 10b-5 Trading Plan provides for the sale of up to 147,550 shares of common stock pu…
In addition, on March 11, 2026, Mohit Kansal, our Chief Payments Officer, adopted a Rule 10b-5 Trading Plan for the sale of shares of our common stock. Mr. Kansal's Rule 10b-5 Trading Plan provides for the sale of up to 182,831 shares of common stock pursuant to the terms of the plan. The plan is ef…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice