Company: FLYW
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027078
Chunk: 365

Company: Flywire Corp
Filing Date: 2025-02-26
Form: 10-K
Item: Item 5
Chunk 365
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 of these consolidated financial statements.  

110

FLYWIRE CORPORATION 

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Amounts in thousands, except share and per share amounts) 

    Year Ended December 31,

    2024

    2023

    2022

    Revenue
     
    $
    492,144

    $
    403,094

    $
    289,375

    Costs and operating expenses:

    Payment processing services costs

    177,490

    147,339

    107,933

    Technology and development

    66,636

    62,028

    50,257

    Selling and marketing

    129,435

    107,621

    78,456

    General and administrative

    125,838

    107,624

    82,949

    Total costs and operating expenses

    499,399

    424,612

    319,595

    Loss from operations
     
    $
    (7,255
    )
     
    $
    (21,518
    )
     
    $
    (30,220
    )

    Other income (expense):

    Interest expense

    (538
    )

    (372
    )

    (1,211
    )

    Interest income

    21,440

    13,349

    3,244

    (Loss) gain from remeasurement of foreign currency

    (11,787
    )

    4,189

    (9,172
    )

    Total other income (expense), net

    9,115

    17,166

    (7,139
    )

    Income (loss) before (benefit from) provision for income taxes

    1,860

    (4,352
    )

    (37,359
    )

    (Benefit from) provision for income taxes

    (1,040
    )

    4,214

    1,988

    Net income (loss)
     
    $
    2,900

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

    Other comprehensive income (loss):

    Foreign currency translation adjustment

    (3,594
    )

    3,232

    (