Flywire Corp. (FLYW) faced a pre-market plunge of 27.55% on Wednesday, with its stock price tumbling due to disappointing fourth-quarter 2024 financial results and a weak outlook for 2025.
The fintech company, which provides payment solutions for businesses and institutions, reported revenue of $117.6 million for the fourth quarter, falling short of analysts' expectations of $118.9 million. While Flywire's adjusted EBITDA of $16.7 million slightly exceeded estimates, the company's bottom line missed significantly, with a GAAP loss per share of $0.12, widely missing the estimated loss of $0.01 per share.
The disappointing performance in the fourth quarter was further compounded 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. This weak outlook was attributed to various headwinds, including visa policy changes in key markets like Canada and Australia, which impacted student enrollment and tuition payments.