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Flywire cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$125M in Q3 2026 · $134M over twelve months

Operating cash flow$125M
Capital spending−$209K
Free cash flow+$125M
Cash / net income1.7×

Analysis

In Q3 2026, Flywire generated $125M of operating cash flow and spent $209K on capital projects, leaving free cash flow of $125M. That is $31.0M less than in Q3 2025 ($156M).

Over the twelve months to Sep 30, 2026, operating cash flow was $135M; the largest uses were other financing ($76.2M), net borrowing (+) / repaid (−) ($15.0M), capital spending ($1.0M); besides operations, cash came from other investing ($5.4M), shares issued ($3.1M); the cash balance rose by $52.3M.

Operating cash flow was $125M against net income of $74.5M — 1.7× profit, cash ran ahead of reported earnings. The largest differences: deferred taxes −$26.8M, stock-based pay +$17.2M, payables +$13.7M.

Free cash flow

Flywire: free cash flow by quarterFlywire: free cash flow by quarter−$28.7MQ4 2024−$81.0MQ1 2025$19.4MQ2 2025$156MQ3 2025$4.5MQ4 2025−$16.0MQ1 2026$20.8MQ2 2026$125MQ3 2026
Operating cash flow less capital spending.
Flywire: operating cash flow against capital spendingFlywire: operating cash flow against capital spendingOperating cash flowCapital spending−$28.6M$101KQ4 2024−$80.8M$187KQ1 2025$19.9M$547KQ2 2025$156M$226KQ3 2025$4.9M$390KQ4 2025−$15.8M$139KQ1 2026$21.1M$273KQ2 2026$125M$209KQ3 2026
Latest (Q3 2026): Operating cash flow $125M, Capital spending $209K.

Capital allocation, year by year

Flywire: where the cash came from (up) and went (down), by fiscal yearFlywire: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow $17.1MFY2021: Net borrowing $939KFY2021: Shares issued $6.9MFY2021: Capital spending −$1.0MFY2021: Acquisitions −$56.1M$25.0MFY2021FY2022: Operating cash flow $5.4MFY2022: Net borrowing −$25.9MFY2022: Shares issued $8.2MFY2022: Capital spending −$1.4MFY2022: Acquisitions −$17.1M$13.7MFY2022FY2023: Operating cash flow $76.3MFY2023: Shares issued $13.1MFY2023: Capital spending −$1.0MFY2023: Acquisitions −$32.8M$89.4MFY2023FY2024: Operating cash flow $98.7MFY2024: Shares issued $5.6MFY2024: Capital spending −$924KFY2024: Acquisitions −$45.2M$104MFY2024FY2025: Operating cash flow $100MFY2025: Shares issued $2.3MFY2025: Capital spending −$1.4MFY2025: Acquisitions −$325M$102MFY2025
Over these 5 years operating cash flow totalled $298M; the largest uses were acquisitions ($476M) and net borrowing ($25.9M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$410M
Debt$15.0M
Net cash$395M

Flywire funds itself: free cash flow was $134M over the last twelve months, and $410M of cash and investments stands against $15.0M of debt.

Where the cash came from and went

Flywire: sources (+) and uses (−) of cash, Q3 2026Flywire: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$125MCash drawn (+) / kept (−)−$125MOther financing−$3.1MOther investing$1.9MShares issued$751KExchange rates$321KCapital spending−$209K
Flywire: sources (+) and uses (−) of cash, TTM to Q3 2026Flywire: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$135MOther financing−$76.2MCash drawn (+) / kept (−)−$52.3MNet borrowing (+) / repaid (−)−$15.0MOther investing$5.4MShares issued$3.1MCapital spending−$1.0MExchange rates$602K

From profit to cash

Flywire: net income to operating cash flow, Q3 2026Flywire: net income to operating cash flow, Q3 2026Net income$74.5MStock-based pay$17.2MDeferred taxes−$26.8MReceivables−$11.0MPayables$13.7MDeferred revenue$2.7MPrepaid and other assets−$5.9MOther liabilities−$155KOperating cash flow$125M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$125M−$209K———$751K−$125M$125M
Q2 2026$21.1M−$273K—−$20.5M—$1.2M$29.5M$20.8M
Q1 2026−$15.8M−$139K—−$10.0M—$931K$18.4M−$16.0M
Q4 2025$4.9M−$390K——−$15.0M$239K$24.6M$4.5M
Q3 2025$156M−$226K−$5.1M−$10.0M−$45.0M$311K−$105M$156M
Q2 2025$19.9M−$547K—−$5.0M—$376K−$59.2M$19.4M
Q1 2025−$80.8M−$187K−$320M−$49.3M$60.0M$1.4M$305M−$81.0M
Q4 2024−$28.6M−$101K$208K——$1.7M$69.8M−$28.7M

Flywire: income statement and cash flow

Flywire, Q3 2026: revenue $250M (+25% year over year), operating margin 21.1%. The chart follows the revenue to costs, profit and cash.

Flywire: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.