Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 43

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 43
---

        Identifiable intangible assets

        19,553

        Total assets acquired

        45,753

        Deferred tax liabilities

        2,663

        Deferred revenue

        2,654

        Accounts payable

        859

        Accrued expenses and other current liabilities

        2,004

        Total liabilities assumed

        8,180

        Net assets acquired

        37,573

        Less: cash acquired

        2,108

        Net assets, less cash acquired
         
        $
        35,465

135

Goodwill arising from the acquisition of $20.7 million was attributable to the assembled workforce of StudyLink and the synergies expected to arise from the acquisition. No goodwill from this acquisition will be deductible for income tax purposes.The following table reflects the fair values of the identified intangible assets of StudyLink and their respective weighted-average amortization periods.

        FairValues

        Weighted-Average AmortizationPeriods

        (in thousands)

        (years)

        Developed technology
         
        $
        7,397

        7

        Acquired relationships

        12,027

        14

        Trade Name/Trademark

        129

        2

        $
        19,553

      The results of StudyLink have been included in the consolidated financial statements since the date of the acquisition. StudyLink contributed $7.6 million and $1.4 million in platform revenue during the years ended December 31, 2024 and 2023. The Company has not disclosed net income or loss since the acquisition date as the business was fully integrated into the consolidated Company’s operations and therefore 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