Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 284

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 284
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ization**

        Net CarryingAmount

        WeightedAverageRemaining Life(Years)

        Developed Technology
         
        $
        39,624

        $
        (21,446
        )
         
        $
        18,178

        4.71

        Acquired Relationships

        104,007

        (14,143
        )

        89,864

        11.04

        Trade Name/Trademark

        136

        —

        136

        1.83

        $
        143,767

        $
        (35,589
        )
         
        $
        108,178

       * Includes $(750) thousand of foreign currency translation adjustments. ** Includes $(41) thousand of foreign currency translation adjustments.Amortization expense for the years ended December 31, 2024, 2023 and 2022 was $12.3 million, $11.5 million and $9.1 million, respectively. As of December 31, 2024, the estimated annual amortization expense of intangible assets for each of the next five years and thereafter is expected to be as follows (in thousands): 

        EstimatedAmortizationExpense

        2025
         
        $
        13,424

        2026

        13,473

        2027

        13,323

        2028

        13,119

        2029

        12,251

        Thereafter

        53,094

        $
        118,684

Note 11. Debt 2024  Revolving Credit FacilityOn February 23, 2024, the Company entered into a five-year senior secured 2024 Revolving Credit Facility with four banks for a total commitment of $125.0 million. The 2024 Revolving Credit Facility provides for an incremental facility in an amount equal to $50.0 million plus 100% of Consolidated Adjusted EBITDA based on the most recent consolidated financial information. In addition, the 2024 Revolving Credit Facility includes a $10.0 million letter of credit sub-facility and a $5.0 million swingline sub-facility, with available borrowings under the 2024 Revolving Credit Facility reduced by the amount of any letters of credit and swingline borrowings outstanding from time to time. The 2024 Revolving Credit Facility is guaranteed by Flywire’s