Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 246

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 246
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 and past performance of the Invoiced business; (ii) the consistency with external market and industry data; and (iii) whether the assumptions were consistent with evidence obtained in other areas of the audit. Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the multi-period excess earnings and relief from royalty methods used by management and (ii) the reasonableness of the discount rate assumptions for the acquired relationships and developed technology.

/s/ PricewaterhouseCoopers LLP 

Boston, Massachusetts

February 25, 2025

We have served as the Company’s auditor since 2019. 

109

FLYWIRE CORPORATION 

CONSOLIDATED BALANCE SHEETS 

(Amounts in thousands, except par value per share and share amounts) 

    December 31,

    2024

    2023

    Assets

    Current assets:

    Cash and cash equivalents
     
    $
    495,242

    $
    654,608

    Short-term investments

    115,848

    —

    Accounts receivable, net of allowance of $410 and $507, respectively

    23,703

    18,215

    Unbilled receivables, net of allowance of $36 and $27, respectively

    15,453

    10,689

    Funds receivable from payment partners

    90,110

    113,945

    Prepaid expenses and other current assets

    22,528

    18,227

    Total current assets

    762,884

    815,684

    Long-term investments

    50,125

    —

    Property and equipment, net

    17,160

    15,134

    Intangible assets, net

    118,684

    108,178

    Goodwill

    149,558

    121,646

    Other assets

    24,035

    19,089

    Total assets
     
    $
    1,122,446

    $
    1,079,731

    Liabilities and Stockholders’ Equity

    Current liabilities:

    Accounts payable
     
    $
    15,353

    $
    12,587

    Funds payable to clients

    217,788

    210,922

    Accrued expenses and other current