2.45% +0.49

Flywire Corp (FLYW)

Overview News Price History Option Chain Financials Why FLYW Down? Discussions Forecast

Why is Flywire Corp (FLYW) Stock down?

We've noticed a 6.69% decline in Flywire Corp (FLYW) stock during the 2024-04-12 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!

08 Nov, 2023:

Shares of Flywire Corporation (FLYW) dropped by 25.29% from $27.68 to $20.68 in the trading on Wednesday, Novemeber 8, 2023. The reason why FLYW down is due to its Q3 earnings report. While Flywire exceeded analyst revenue estimates, reporting $123.3 million, representing a 2.9% beat, it fell short on EPS, recording $0.08 compared to the expected $0.09, reflecting a 14.7% miss. The company provided a Q4 2023 revenue guidance with a midpoint of $94 million, surpassing analyst predictions of $87.9 million. Furthermore, Flywire showcased a remarkable improvement in Free Cash Flow, reaching $44.9 million, a stark contrast to the previous quarter's -$5 million. However, its Gross Margin (GAAP) decreased from 66.1% in the same quarter the previous year to 65.2%, contributing to the stock's decline primarily due to the earnings miss on EPS and a reduction in gross margin compared to the prior year.