Flywire's Revenue Rises, But Stock Takes a Hit on Deepening Net Loss

Wednesday, 8 May 2024, 22:16

Flywire's latest earnings report missed analyst expectations with a deeper net loss and increased operating expenses, causing its stock to drop by over 16%. Although revenue grew by 21% year over year, the company's bottom line disappointed investors. Flywire maintains its 2024 revenue forecast, contrasting analyst projections.
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Flywire's Revenue Rises, But Stock Takes a Hit on Deepening Net Loss

Flywire's Disappointing Earnings Report

Flywire (NASDAQ: FLYW) reported a deeper net loss in its latest earnings report, missing analyst expectations due to rising operating expenses.

Key Points:

  • Flywire's revenue increased by 21% year over year to $114 million, beating analyst estimates.
  • The bottom line deepened to $6.2 million, well below consensus projections.
  • Management remains optimistic about the company's global business prospects.

Should you invest $1,000 in Flywire right now?

The Motley Fool Stock Advisor analysts recommend considering other investment opportunities with higher growth potential.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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