Flywire jumps after forecasting annual revenue above estimates

Flywire

28/02/2024 10:42

** Shares of global payments platform Flywire  FLYW.O  rise
20.9% to $29.65 premarket
    ** After market close on Tuesday, FLYW forecast FY 2024
revenue between $501 mln to $535 mln, above analyst's estimates
of $498.9 mln - LSEG data
    ** Co expects Q1 revenue between $110 mln to $117 mln, the
midpoint of which is above expectations of $113.4 mln
    ** FLYW expects seasonality of its business in 2024 to be
impacted by the Canadian higher education regulatory changes,
which will reduce the number of international study permit
applications and delay some Canadian applications until later in
the year
    ** BTIG analysts see co's FY 2024 revenue guidance as quite
strong considering unforeseen Canada headwind 
    ** FLYW's Q4 net income came in at 1 cents/shr compared to
estimates of a loss of 7 cents/shr
    ** Stock fell 5.4% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))