Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 282

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 282
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 it was impracticable to determine this amount.Unaudited Pro Forma Financial InformationThe following unaudited pro forma financial information shows the results of the Company’s operations for the years ended December 31, 2023 and 2022 as if the acquisition had occurred on January 1, 2022. The unaudited pro forma financial information is presented for information purposes only and is not necessarily indicative of what would have occurred if the acquisition had occurred as of that date. The unaudited pro forma information is also not intended to be a projection of future results due to the integration of the acquired operations of StudyLink. The unaudited pro forma information reflects the effects of applying the Company’s accounting policies and certain pro forma adjustments to the combined historical financial information of the Company and StudyLink. The pro forma adjustments include:•incremental amortization expense associated with the estimated fair value of identified intangible assets;•incremental employee compensation expense for StudyLink employees; •transaction costs; and•the estimated tax impact of the above items.

        Year Ended December 31, 2023

        Year Ended December 31, 2022

        Actual

        Pro Forma

        Actual

        Pro Forma

        (in thousands)

        Revenue
         
        $
        403,094

        $
        409,161

        $
        289,375

        $
        295,325

        Net loss
         
        $
        (8,566
        )
         
        $
        (10,369
        )
         
        $
        (39,347
        )
         
        $
        (41,824
        )
       
      Cohort GoOn July 13, 2022, Flywire acquired all of the issued and outstanding shares of Cohort Go, an Australian-based education payments provider that simplifies the student recruitment process by bringing together students, agents and essential student services such as health insurance into one platform. The acquisition of Cohort Go contributed to the Company's global expansion and accelerated the growth of Flywire's agent related revenue, in which Flywire partners with agents who refer students to the Company. The agent related revenue is reported as transaction revenue for Flywire, while the health insurance related revenue is reported as platform revenue. The acquisition of Cohort Go has been accounted for as a business combination. Pursuant to the terms of the business combination agreement, the Company acquired Cohort Go for estimated total purchase consideration of $23.1 million