Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 274

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 274
---
 Financial Assets:

        Cash equivalents:

        Money market funds
         
        $
        372,912

        $
        —

        $
        —

        $
        —

        $
        372,912

        Foreign exchange contracts

        —

        —

        —

        16

        16

        Total financial assets
         
        $
        372,912

        $
        —

        $
        —

        $
        16

        $
        372,928

        Financial Liabilities:

        Contingent consideration
         
        $
        —

        $
        —

        $
        —

        $
        2,882

        $
        2,882

        Total financial liabilities
         
        $
        —

        $
        —

        $
        —

        $
        2,882

        $
        2,882

      During the years ended December 31, 2024, 2023 and 2022, there were no transfers between Level 1, Level 2 or Level 3.Contingent consideration InvoicedThe fair value of the contingent consideration related to the revenue milestones from the Company’s acquisition of Invoiced was determined using an option pricing model and the fair value of the contingent consideration related to the 

130

cross-selling, product and security and IT milestones was determined using a scenario-based method. During the year ended December 31, 2024, the Company made a payment of contingent consideration of $1.1 million based on Invoiced's successful and timely achievement of the contracted milestones. Refer to Note 9 - Business Combinations for additional details on the Invoiced acquisition. The following table presents the unobservable inputs incorporated into the valuation of contingent consideration as of December 31, 2024.

        Year Ended December 31, 2024

        Discount rate
         
        6.47% - 6.59%

        Probability of successful achievement*
         
        4% - 100%
       
      _____________________________* Probability of successful achievement was set at different targets based on the Company’s estimates on achieving them. The weighted average probability of successful achievement as of December 31, 2024 was 65.1%.Increases or decreases in the discount rate would result in a lower or higher fair value measurement, respectively. Increases or decreases in any of the probabilities of success in which the revenue, cross-selling, product and security and IT milestones are expected to be achieved would result in higher or lower fair value measurement