Flywire Revenue Jumps 25% to $250M and Adjusted EBITDA Rises 39% as 2026 Outlook Is Raised
Payment volume rose 27.7% to $17.8B and net income reached $74.5M with a $22.2M tax benefit, but fourth-quarter growth is guided well below the third.
Flywire (FLYW) reported third-quarter 2026 revenue of $250.3 million, up 25.1% from a year earlier, and adjusted EBITDA of $79.5 million, up 39.2%. The payments company raised the midpoint of its full-year growth outlook by two points and guided fourth-quarter growth of 14% to 20%, well below the third quarter's pace. Shares were up about 13.0% in after-hours trading.
Third-quarter results
| Metric | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Revenue | $250.3M | $200.1M | +25.1% |
| Revenue less ancillary services | $244.5M | $194.1M | +26.0% |
| Total payment volume | $17.8B | $13.9B | +27.7% |
| Adjusted EBITDA | $79.5M | $57.1M | +39.2% |
| Adjusted EBITDA margin | 32.5% | 29.4% | +3.1 pts |
| Net income | $74.5M | $29.6M | Includes a $22.2M tax benefit that will not recur |
Chief Financial Officer Cosmin Pitigoi said the quarter marked a step change in the scale of the company's GAAP profitability. Flywire gave growth rates rather than dollar guidance.
Outlook
| Item (FX-neutral revenue less ancillary services growth) | Q4 2026 | Full-year 2026 |
|---|---|---|
| Revenue growth | 14% to 20% | 25% to 27% (midpoint raised 2 pts) |
| Adjusted EBITDA margin change | +330 to +530 bps | +300 to +360 bps (midpoint raised 30 bps) |
By our calculation, the 17% midpoint of the fourth-quarter growth range is about 9 points below the third quarter's 26.0%.
What to watch
- Conference call. What drives the slowdown in fourth-quarter growth and how much comes from tougher comparisons.
- Margin. Progress toward the guided 300 to 360 basis points of full-year margin expansion.
- Taxes. The $22.2 million benefit lifted net income, and the company said it will not recur.
- Related coverage. See our reports on Upwork, Ibotta and Procore.
Sources: Flywire's third-quarter 2026 results on SEC EDGAR. The after-hours move comes from market data and may differ by source. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.
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