Flywire, a Nasdaq-listed international payment assistance and software company, recently reported second quarter 2022 financial results.
In Q2 2022, the company’s total payment volume surged nearly 49% year-on-year to reach $2.9 billion. His total Flywire settlements in Q2 2021 were his $1.9 billion. Gross profit in the most recent period came to $33.2 million, compared to his $22.5 million in the second quarter of 2021.
We are very pleased to have another strong quarter for Flywire. We delivered strong revenues, adjusted gross margin and adjusted EBITDA that exceeded expectations. It’s a reflection,” said CEO Mike Massaro. of flywire.
Our second quarter results are a testament to our global FlyMates team continuing to perform at the highest level to better support clients and payers in the education, healthcare, travel and B2B industries. Added.
Despite the overall surge in demand, Flywire witnessed some challenges in the second quarter. The company’s net profit took a big hit during the reported period.
business highlights
In July 2022, Flywire announced the acquisition of Cohort Go to accelerate its global expansion. The Asia-Pacific region is one of the most important regions in the company’s international expansion strategy, according to details shared by Flywire.
We are pleased that our strategy is working as expected despite the uncertainty in the global economy. We plan to continue to make targeted investments and position ourselves well for future growth, explained Massaro.
Flywire, a Nasdaq-listed international payment assistance and software company, recently reported second quarter 2022 financial results.
In Q2 2022, the company’s total payment volume surged nearly 49% year-on-year to reach $2.9 billion. His total Flywire settlements in Q2 2021 were his $1.9 billion. Gross profit in the most recent period came to $33.2 million, compared to his $22.5 million in the second quarter of 2021.
We are very pleased to have another strong quarter for Flywire. We delivered strong revenues, adjusted gross margin and adjusted EBITDA that exceeded expectations. It’s a reflection,” said CEO Mike Massaro. of flywire.
Our second quarter results are a testament to our global FlyMates team continuing to perform at the highest level to better support clients and payers in the education, healthcare, travel and B2B industries. Added.
Despite the overall surge in demand, Flywire witnessed some challenges in the second quarter. The company’s net profit took a big hit during the reported period.
business highlights
In July 2022, Flywire announced the acquisition of Cohort Go to accelerate its global expansion. The Asia-Pacific region is one of the most important regions in the company’s international expansion strategy, according to details shared by Flywire.
We are pleased that our strategy is working as expected despite the uncertainty in the global economy. We plan to continue to make targeted investments and position ourselves well for future growth, explained Massaro.