Filing Flows › Flywire (FLYW) › Q2 2026 › vs Q2 2025
Flywire (FLYW) Q2 2026 vs Q2 2025 (year over year)
Flywire's revenue rose $35.9M (+27%) from $132M in Q2 2025 to $168M in Q2 2026. The biggest changes: Transactions +$35.3M (+35%); Platform and Other Revenues +$529K (+2%).
Flywire, Q2 2026: revenue $168M (+27% year over year), operating margin -1.7%, net loss $8.1M, operating cash flow $21.1M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 12.4% | 14.7% | -2.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Transactions | $136M | $101M | $35.3M | +35% |
| Platform and Other Revenues | $31.8M | $31.3M | $529K | +2% |
| Revenue | $168M | $132M | $35.9M | +27% |
| Net loss | $8.1M | $12.0M | −$3.9M | -32% |
| Costs & expenses | $176M | $148M | $28.0M | +19% |
| Operating costs | $171M | $141M | $29.6M | +21% |
| Interest & other, net | $2.5M | −$4.0M | $6.5M | — |
| Income tax | $2.8M | $7.0M | −$4.2M | -59% |
| Research & development | $18.4M | $17.1M | $1.3M | +7% |
| Sales & marketing | $38.9M | $38.4M | $536K | +1% |
| General & admin | $38.5M | $30.2M | $8.3M | +27% |
| Other operating costs | $74.7M | $55.2M | $19.5M | +35% |
| Operating cash sources | $29.2M | $31.9M | −$2.7M | -8% |
| Depreciation & amortization | $7.3M | $6.8M | $518K | +8% |
| Share-based compensation | $17.3M | $17.5M | −$212K | -1% |
| Working capital & other | $4.7M | $7.6M | −$3.0M | -39% |
| Net loss absorbed | $8.1M | $12.0M | −$3.9M | -32% |
| Operating cash flow | $21.1M | $19.9M | $1.2M | +6% |
| Free cash flow (OCF − capex) | $20.8M | $19.4M | $1.5M | +8% |
| Capital expenditures | $273K | $547K | −$274K | -50% |
Questions
How much did Flywire's revenue grow year over year in Q2 2026?
Flywire's revenue rose $35.9M (+27%) from $132M in Q2 2025 to $168M in Q2 2026.
What drove Flywire's revenue change in Q2 2026?
Transactions +$35.3M (+35%); Platform and Other Revenues +$529K (+2%).