Company: FLYW
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0000950170-25-065606
Chunk: 2

Company: Flywire Corp
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 2
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FLYWIRE CORPORATION 

CONDENSED CONSOLIDATED BALANCE SHEETS 

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

     March 31,2025

     December 31,2024

     Assets

     Current assets:

     Cash and cash equivalents
      
     $
     190,507

     $
     495,242

     Short-term investments

     64,823

     115,848

     Accounts receivable, net of allowance of $207 and $410, respectively

     33,585

     23,703

     Unbilled receivables, net of allowance of $25 and $36, respectively

     11,431

     15,453

     Funds receivable from payment partners

     64,237

     90,110

     Prepaid expenses and other current assets

     31,947

     22,528

     Total current assets

     396,530

     762,884

     Long-term investments

     18,069

     50,125

     Property and equipment, net

     17,391

     17,160

     Intangible assets, net

     202,014

     118,684

     Goodwill

     402,715

     149,558

     Other assets

     23,629

     24,035

     Total assets
      
     $
     1,060,348

     $
     1,122,446

     Liabilities and Stockholders’ Equity

     Current liabilities:

     Accounts payable
      
     $
     15,069

     $
     15,353

     Funds payable to clients

     106,613

     217,788

     Accrued expenses and other current liabilities

     53,022

     49,297

     Deferred revenue

     21,228

     7,337

     Total current liabilities

     195,932

     289,775

     Deferred tax liabilities

     13,216

     12,643

     Long-term debt

     60,000

     —

     Other liabilities

     6,935

     5,261

     Total liabilities

     276,083

     307,679

     Commitments and contingencies (Note