Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 11

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 11
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 )

    (170,870
    )

    814,767

* All dollar amounts are rounded and as a result, certain amounts may not recalculate using the rounded amounts provided.

The accompanying notes are an integral part of these consolidated financial statements.

113

FLYWIRE CORPORATION 

CONSOLIDATED STATEMENT OF CASH FLOWS 

(Amounts in thousands) 

    Year Ended December 31,

    2024

    2023

    2022

    Cash flows from operating activities:

    Net income (loss)
     
    $
    2,900

    $
    (8,566
    )
     
    $
    (39,347
    )

    Adjustments to reconcile net income (loss) to net cash provided by    operating activities:

    Depreciation and amortization

    17,363

    15,764

    12,304

    Stock-based compensation expense

    64,933

    43,726

    30,259

    Amortization of deferred contract costs

    972

    1,789

    1,799

    Change in fair value of contingent consideration

    (978
    )

    380

    (2,805
    )

    Deferred tax (benefit) provision

    (8,794
    )

    72

    (1,708
    )

    Provision for uncollectible accounts

    (83
    )

    326

    152

    Non-cash interest income

    (1,435
    )

    —

    —

    Non-cash interest expense

    230

    298

    348

    Changes in operating assets and liabilities, net of acquisitions:

    Accounts receivable

    (5,292
    )

    (2,082
    )

    (323
    )

    Unbilled receivables

    (4,764
    )

    (5,394
    )

    (1,928
    )

    Funds receivable from payment partners

    23,835

    (50,975
    )

    (30,917
    )

    Prepaid expenses, other current assets and other assets

    (5,322
    )

    (4,279
    )

    (11,318
    )

    Funds payable to clients

    6,867

    86,616