Flywire Corporation - Voting · NASDAQ:FLYW

Flywire Corporation - Voting — Flywire — Investor Day (May 2022)

121 slides from Flywire Corporation - Voting's investor day presentation, May 19, 2022

Slide 2: Management team & today's presenters
Mike Ellis David King Allison MacLeod Mike Massaro Rob Orgel Chief Financial Chief Technology Chief Marketing CEO President & COO Ofﬁcer Ofﬁcer Ofﬁcer Management team & today’s presenters Gary Cunningham Chief People Ofﬁcer Sharon Butler GM, Education John Talaga GM, Healthcare Colin Smyth GM, Trave
Slide 3: Disclosures
Disclosures This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this presentation, in
Slide 4: Analyst Day 2022
ANALYST DAY 2022 Time (ET) Duration Topic Speaker(s) 1:00 PM 10 minutes Welcome Akil Hollis - VP, Investor Relations 1:10 PM 20 minutes The FLYW Vision Mike Massaro - CEO Allison MacLeod - CMO Sharon Butler - GM, Education 1:30 PM 55 minutes FLYW Forum: The Industries We Serve John Talaga - GM, Heal
Slide 6: Our strategy to date
Our strategy to date Vertical Expertise 1 Strong “North Star” Thesis 2 Differentiated Core Assets 3 in Big Markets Software drives value in payments + The Flywire Advantage + Deep vertical expertise 6. ©Flywire Corporation 2022
Slide 7: Servicing verticals with substantial TAMs
Servicing verticals with substantial TAMs $11.7 TN TAM <1% coverage across current verticals EDU TAM Healthcare TAM Travel TAM B2B TAM $660BN $500BN $530BN $10TN (1) (1) (1) (1) 18K+ colleges/universities (2) 7K+ US hospitals (3) 2.5M global travel operators (4) 15K+ Tech companies (5) ~7% FLYW cove
Slide 8: ...with strong secular trends underpinning growth
…with strong secular trends underpinning growth Strong & resilient sectors EDU TAM Healthcare TAM Travel TAM B2B TAM 7.4% 4.6% 7.9% 20.4% Annual Growth Annual Growth Annual Growth Annual Growth Of international student Out of pocket Of luxury Of global e-invoicing(4) market (1) healthcare expenses (
Slide 9: Since our IPO we have...
Since our IPO we have… 1 2 3 4 5 Grown Grown Leveraged Expanded Pursued with existing with new channel verticals and strategic M&A clients clients partnerships entered new activities markets New Markets: 123% 440+ Three year New clients average annual added dollar-based across Hit 400+ net retention
Slide 10: Clearly defined path for years of continued growth
Opportunity with Existing Opportunity Clients & Products with Growth Clearly deﬁned path for years of Global leader at the intersection continued of software and growth… payments 5x Flywire to today 7x+ 1. 2022E Revenue reﬂects the mid-point of 2022FY guidance from May 10, 2022 press release 2022E O
Slide 11: Core learnings & the opportunity
Complexity exists 1 everywhere North Star thesis especially true; need for more digitization in our core verticals Core learnings & the Trust opportunity 2 Clients, payers, and platforms in our CORE LEARNINGS to do even payment ﬂows like/trust us and want us to do more more in our verticals Vertical
Slide 12: Expanding the Flywire Advantage
Expanding the Flywire Advantage Yesterday Today Tomorrow Built Flywire Advantage Driving Global Scale Powering Vertical Ecosystems 12. ©Flywire Corporation 2022
Slide 13: Strong financial performance
Strong ﬁnancial performance Total Payment Revenue Less Adjusted Adjusted Volume Ancillary Services Gross Proﬁt EBITDA USD Billions USD Millions USD Millions USD Millions +43% +50% +51% Note: Percentages represent compound annual growth rates. See appendix for reconciliation of the Non-GAAP metrics o
Slide 14: 750+ FlyMates
global authenticity collaboration Mates- With 750+ Fly - -representing ties- -40+ nationali e- fulﬁllment who share th ambitious innovation - -same values evolved execution learning 14. ©Flywire Corporation 2022
Slide 15: Defining ESG at Flywire
Deﬁning ESG at People & Culture Corp Social Data Security & Environmental Responsibility Compliance Sustainability At Flywire, we aim to reduce I am grateful for the The Flywire Charitable We’ve developed an opportunity to work in a Foundation scholarship industry-leading compliance, the environment
Slide 16: 50+ FlyMates
Data Security People & Culture & Compliance 40+ spoken languages and nationalities 50+ FlyMates focused on data security & compliance Voluntary disclosures in Social Impact report 4.8/5 stars for diversity & inclusion (Glassdoor) We are 4.8/5 stars for work/life balance (Glassdoor) here 50%+ of FlyM
Slide 17: Why Flywire
Why Flywire Platform, network and Trusted to deliver on software built for scale the most important & and innovation for complex payments by decades to come our 2700+ clients Substantial TAMs Powerful economic with plenty of model & track record room to run of strong ﬁnancial performance 17. ©Flywir
Slide 19: FLYW Forum: The industries we serve
FLYW Forum: The industries we serve HEALTHCARE B2B John Talaga Ryan Frere GM, Healthcare GM, B2B EDUCATION TRAVEL Sharon Butler Colin Smyth GM, Education GM, Travel 19. ©Flywire Corporation 2022
Slide 20: Education: Mission
EDUCATION Mission Be the money center for global education institutions by providing the right solution to the right market at the right time. Opportunity $660BN ~7% <1% Penetration of Adoption from 220M TAM (1) 18,000+ colleges higher education & universities (2) students world-wide (3) Adoption &
Slide 21: What we solve for (Education)
What we Students solve for Parents Global Agents & 3rd Parties Complexity in payments ● Affordability Banks ● Need for ﬂexibility Networks ● Manual processes Fragmented Systems Integrators Compliance marketplace ● Domestic vs. international ● Legacy providers ● Multiple layers of ERPs Regulation stu
Slide 22: Healthcare: Mission
HEALTHCARE Mission Deliver affordable healthcare solutions for patients and superior provider yield, through the power of digital experiences. Opportunity $500BN <10% <10% Penetration of 7K+ Penetration of TAM (1) US hospitals (2) 600+ US healthcare systems (3) Adoption & coverage is as of May 19, 2
Slide 23: What we solve for (Healthcare)
What we Patients solve for EHRs Networks Patient centricity ● Increased patient costs Financing Merchant ● Affordability Processors ● Digital engagement Fragmented marketplace Health Plans Compliance ● Legacy vendors and new entrants ● Health system consolidation ● Largely paper-based Early Out Data
Slide 24: Travel: Mission
TRAVEL Mission Be the single integrated payments solution that solves the most complex travel payments across travel operators, accommodations providers and destination management companies (DMCs). Opportunity $530BN <1% <1% Penetration of (1) Adoption from 1.4 BN TAM 2.5M travel international opera
Slide 25: What we solve for (Travel)
What we Travelers solve for Advisors Banks Complexity in payments ● High costs Card Booking ● No visibility or tracking Providers Platforms ● Manual workﬂows Fragmented Itinerary Host marketplace Management Agencies ● Legacy homegrown providers ● Multiple systems not connected Invoicing Commissions
Slide 26: B2B: Mission
B2B Mission Become the industry leading single source A/R solution with best in class online A/R experiences, simpliﬁed APIs, and deeper integrations into Enterprise Resource Planning (ERP) systems. Opportunity $10TN <1% <1% Penetration of 15K+ (1) Penetration of TAM SaaS companies 280BN invoices gl
Slide 27: What we solve for (B2B)
What we Payee solve for Payer Suppliers Complexity in payments Banks ● A/R vs A/P ● Global nature of payments FX Exchange Rates ● Manual reconciliation Fragmented marketplace Systems Compliance Integrators ● Paper-based home-grown solutions ● Distributed payment & FX landscape Large Regulation ● Sil
Slide 29: Why they chose us Flywire
CLIENT CHALLENGE ● Slow, manual, siloed A/R processes ● International & domestic payments ● Lacked automated reconciliation in NetSuite CASE STUDY Why they Flywire chose us solution ● Flywire & NetSuite integration ● Single source solution for ● Support multi-invoice international and domestic payme
Slide 30: Why they chose us Flywire
CLIENT CHALLENGE ● Disparate methods & lack of visibility ● Poor digital experience for students with confusing fees ● Manual and time consuming reconciliation for staff CASE STUDY Why they Flywire chose us solution ● Deep workﬂow and ● “One Door” for all receivables integration ● Direct integration
Slide 31: Why they chose us Flywire
CLIENT CHALLENGE ● Multinational operations with three local currencies CASE STUDY ● High payment processing costs ● Inﬂexible payment gateway with limited integrations and payment options Why they Flywire chose us solution ● Integration into existing ● Ability to receive funds in the local workﬂows
Slide 32: Why they chose us Flywire
CLIENT CHALLENGE ● Legacy billing process ● Lack of transparency ● Lack of consumer-focused, digital engagement strategy CASE STUDY Why they Flywire chose us Solution ● End-to-end experience ● 85% of total payment plans online ● Superior staff ● ~$11M pre-service payments in experience ﬁrst 4 months
Slide 34: Innovation & opportunity in healthcare
Innovation & opportunity in healthcare What we’re excited about: Omni-channel Afﬁliate Deeper integrations innovation programs with EHRs 77% consumers want consumer friendly ways to pay for healthcare 34. ©Flywire Corporation 2022 For citations, please refer to the appendix at the end of the present
Slide 35: Innovation & opportunity in education
Innovation & opportunity in education What we’re excited about: Global agent Non-client Geo & client organizations receivables - 529 expansion 75% of international students in Australia are placed through agents 35. ©Flywire Corporation 2022 For citations, please refer to the appendix at the end of
Slide 36: Innovation & opportunity in B2B
Innovation & opportunity in B2B What we’re excited about: Deepening A/R Expanding our Direct automation partner ecosystem invoicing 92% CFOs say they could increase their earnings per share with a better A/R solution 36. ©Flywire Corporation 2022 For citations, please refer to the appendix at the en
Slide 37: Innovation & opportunity in travel
Innovation & opportunity in travel What we’re excited about: Strengthen team focused on Travel partner ecosystem - Digital acquisition Accommodations, network efforts strategy DMCs, Travel Operators 77% travelers said ease of payments is critical in choosing a destination or agent provider 37. ©Flyw
Slide 39: Why we win in Travel
Why we win in Travel Modernizing Up to 50% The experience for DMCs, Time saved on processing accommodations, and operators guest payments Up to $100K 100s Monthly savings Of clients with strong and per client growing referral network *Figures as of May 19, 2022 39. ©Flywire Corporation 2022
Slide 40: Why we win in B2B
Why we win in B2B A/R Focus 62% Single-source solution Reduction in AR costs for for international and year 1 by switching to an domestic payments all-in-one AR approach 45% 25% Reduction in payment Reduction in weekly processing costs manual reconciliation *Figures based on client case studies as o
Slide 41: Why we win in Healthcare
Why we win in Healthcare Innovative 20+ Approach to patient Deep integrations with EHRs ﬁnancial experiences to augment workﬂows 15% 1st Increase in net collections Market pioneers in patient for our clients ﬁnancial systems *Figures as of May 19, 2022 41. ©Flywire Corporation 2022
Slide 42: Why we win in Education
Why we win in Education Trusted 350+ Brand with deep bench of Global Education Agent industry experts organizations use and refer Flywire to students 2,000 50+ Institutions and millions Partner & tech of students served education integrations *Figures as of May 19, 2022 42. ©Flywire Corporation 2022
Slide 44: Disclosures
Disclosures This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this presentation, in
Slide 46: Product & Engineering Mission
Product & Engineering Mission Grow the value of the Flywire payments and software ecosystem by creating best in market solutions for our clients to deliver on their customers most important and complex payments. Key Facts 200+ 80+ 5 Domain experts Partner and Geographically distributed development s
Slide 47: Core engineering values
Core engineering values Be Embrace Seek Move quickly ALL IN change excellence & iterate Keep it Be customer Win as simple obsessed one team 47. ©Flywire Corporation 2022
Slide 48: Flywire solves complex vertical ecosystems
Verticals Product Data Flywire solves complex vertical ecosystems Integrations Workﬂows Security & Compliance 48. ©Flywire Corporation 2022
Slide 49: Powerful platform designed to solve complex payment flows
Powerful platform designed to solve complex payment ﬂows Real Time Insights Sophisticated Security & Complex Network AI/ML Integrations Pricing Compliance Payment Flows Resiliency Build Your Own Education Healthcare Travel B2B Public API Omnichannel Payment plans E-comm Personalization Multi-party p
Slide 50: Personalization powers Flywire's platform
Personalization 100,000+ daily patient interactions powers Flywire’s 200+ data points per patient Inputs: Demographic, insurance, ﬁnancial, platform communication, billing, external Our personalization Continuous model engine returns 2 key improvement outputs for each patient: through patient outcom
Slide 51: Flywire's platform is responsive & dynamic
Flywire’s platform is responsive & dynamic Throughout the patient payment journey, Flywire can adjust Affordability Suite offers and conversation types to increase engagement and optimize collections Apr. 7, 2022 Apr. 12, 2022 Apr. 18, 2022 Apr. 26, 2022 Adjusted Rate Intelligent 3rd Party Payment P
Slide 52: Why we win with our Platform
Why we win with our Platform Modern, cloud, Vertical software scalable technology: tailored to speciﬁc “Build Once, Use Often” use cases Enterprise-level Solves security & integrations enhance compliance within client experience industry ecosystems 52. ©Flywire Corporation 2022
Slide 54: Disclosures
Disclosures This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this presentation, in
Slide 55: Global Payment Network Mission
Global Payment Network Mission Enable Flywire’s customers to process complex payment ﬂows seamlessly, in compliance with global regulatory and industry requirements. Key Facts $13.2B 140+ 240+ 3,835 1,502 Total Payment Volume (TPV) Currencies Countries & Unique Currency in 2021 supported territories
Slide 56: Flywire network advantage
Flywire network advantage Vertical Software ✔ Plug-and-play conﬁguration allows Flywire to switch partners easily with no customer impact ✔ Faster settlement for payers and Payments Platform clients ✔ Visibility & control of funds ﬂow to schedule settlements & provide status insights to client and p
Slide 57: Global network coverage
Global network coverage 95%+ Client volume coverage 90%+ Redundancy Primary Coverage 100+ Local accounts Secondary Coverage *Figures as of May 19, 2022 Sanctioned Countries 57. ©Flywire Corporation 2022 Continuing investment in LATAM, APAC, and domestic expansion
Slide 58: Why the Flywire network?
Why the Flywire network? Owned Scalable Innovative We control the funds ﬂow and conﬁgure We have built it to scale across We don’t just move money, we constantly the network for customer experience geographies, verticals and innovate, enhance capabilities, add new and driving cost efﬁciencies for al
Slide 59: Network ownership enables global expansion
Owned Network ownership enables global expansion Cross border Domestic payments Cross border pay-in expansion expansion payout expansion -Nepalese- £ -Payer- -South-Korea- -Iceland- -UK- -Thai- -Payer- -Payer- 59. ©Flywire Corporation 2022
Slide 60: Network scales from transaction, to vertical, to geography
Scalable Network scales from transaction, to vertical, to geography T + 34 days Go-live with clients Foundational build ● Deﬁne operating model for Brazil ● Determine tax requirements Kick-off Go Live ● Create entity ● Open local bank account T0 Identiﬁed need based on market needs and customer feed
Slide 61: Innovative approach to payer markets
Innovative Innovative 1 approach to payer markets 2 ● Direct connection to ICICI bank ● Fully digital and 3 streamlined experience ● Reduced KYC burden on payers ● More connections on roadmap 61. ©Flywire Corporation 2022
Slide 62: Why we win with our Network
Why we win with our Network Flywire owned, Conﬁgurable for scalable & verticals, clients innovative and geographies Enables digital Drives superior experiences in transaction complex markets economics 62. ©Flywire Corporation 2022
Slide 66: Disclosures
Disclosures This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this presentation, in
Slide 67: Investment areas
Successful investment track record 1 Established Flywire Advantage and our ability to win across industries Key high ROI short term investments 2 SUMMARY Geographic expansion, go to market enhancement, and even deeper software integration Investment areas Unique opportunity to expand our vision 3 Tr
Slide 68: Expanding the Flywire Advantage
Expanding the Flywire Advantage Yesterday Today Tomorrow Built Flywire Advantage Driving Global Scale Powering Vertical Ecosystems 68. ©Flywire Corporation 2022
Slide 69: Prior investments established Flywire Advantage
Prior investments established Flywire Advantage Investment area Key investments Outcome 4 Year Avg. Annual NRR Client = (1) NRR 124% • Core payment services 141% Built our next-gen 126% 128% • Domestic + cross border 100% Payment Platform • Risk / Reconciliation 2018 2019 2020 2021 • Card, bank tran
Slide 70: Expanding the Flywire Advantage
Expanding the Flywire Advantage Yesterday Today Tomorrow Built Flywire Advantage Driving Global Scale Powering Vertical Ecosystems 70. ©Flywire Corporation 2022
Slide 71: Increasing our GTM investment...
Increasing our GTM investment… ~50% ~60% ~50% Investment Investment Investment increase in sales increase in delivery increase in proven & relationship capacity digital acquisition management channels Across all geographies Averaging <2 weeks to >10x return on and verticals get Travel clients live m
Slide 72: ...to support a strong and growing pipeline
…to support a strong and growing pipeline 2X 50% >50% Increase in Improvement in Opportunities pipeline build sales ramp time outside of YoY the U.S. Including 120+ 60%+ increase in Across more than upsell opportunities win rate YoY 40 geographies **These estimates reﬂect our current operating plan
Slide 73: Geo expansion — selling globally
Geo expansion — selling globally Market type Illustrative geographies Investment type “Established” • Optimizing rails (i.e. BACS geographies direct debit, Interac coverage) Earliest markets, <5% • G2M headcount penetration; investing to win • Full product suite Growth geographies • Enhancing rails
Slide 74: Operating globally: India Expansion
CASE STUDY India Expansion GEO EXPANSION Localized teams in key geographies Operating enabling comprehensive solutions globally Deepen Maximize Localized Launch Targeted Outbound / Bank Agent Marketing New Product VIP Integrations Coverage Products Functionality Payer Outreach 74. ©Flywire Corporati
Slide 75: Leveraged M&A to accelerate geographic expansion
Leveraged M&A to accelerate geographic $30BN of Regional & Unique Ability to expansion TAM in education geographic expertise combo of payments & drive upsells in UK software We will be able to automate We need to move I can see the value in reconciliation of bank transfers without to Flywire ASAP. h
Slide 76: Embedding deeper in workflows
EDUCATION HEALTHCARE Embedding deeper in workﬂows Enhancing our moat through over 80 B2B TRAVEL ecosystem integrations 76. ©Flywire Corporation 2022
Slide 77: Cerner Integration
CASE STUDY Cerner Integration Major HCIT Platform Integrated Deeply Partner solution embedded of choice 77. ©Flywire Corporation 2022
Slide 78: Bank of America
CASE STUDY Bank of America Top U.S. ﬁnancial institution Joint customers Joint value Sales proposition channel 78. ©Flywire Corporation 2022
Slide 79: Case Studies: Short-term investments paying off
Case Studies: Short-term investments paying off Go to Market Investment Geographic Expansion and Geographic Expansion Technology Partnership ● South Africa expansion ● Mexico market expansion ● Need for increased local with localized sales with localized sale options for global customer ● Domestic +
Slide 82: Future: Powering vertical ecosystems
Payers Payers EDU TRAVEL Future: Powering Agents Schools DMCs Agents vertical ecosystems Network opportunities Payers Buyers in our core HEALTHCARE B2B verticals Early out / Suppliers Platform Providers Collectors 82. ©Flywire Corporation 2022
Slide 83: Expanding the Flywire Advantage
Expanding the Flywire Advantage Yesterday Today Tomorrow Built Flywire Advantage Driving Global Scale Powering Vertical Ecosystems 83. ©Flywire Corporation 2022
Slide 84: Strategic payables
Strategic payable deﬁned ● Related to a receivable ﬂow ● In a core vertical High stakes, high value OPPORTUNITY #1 ● Strategic Our path to enter & win payables ● Payables functionality built into existing vertical software / client base ● Leveraging Flywire Advantage and vertical-know how ● Focus an
Slide 85: Clear opportunity in education
Clear opportunity in education Flywire Clients Flywire today tomorrow ● 1M+ International students placed through agents, secular Co t en mm global trend (1) ym iss Pa ion ● Blue chip clients and agents asking us to do more Payers Booking Agents ● Tight eco-system linkage creates network effect For
Slide 86: ...similar opportunity exists in travel
…similar opportunity exists in travel Flywire today DMC Flywire tomorrow ● 80%+ of luxury travelers have used or will use a travel Co t en advisor (1) mm ym iss Pa Over 70K travel agencies in the ion ● US (2) ● Extensions to other forms of Payers Booking Host Agency travel aggregation (e.g., supplie
Slide 87: ...and in our B2B vertical
…and in our B2B vertical Flywire Platform Flywire today tomorrow A/R platform use case: Flywire manages t en Pa receivables for the ym ym Pa en platform provider/ t buyer and manages associated payables to Purchase Buyer Order Supplier the suppliers 87. ©Flywire Corporation 2022
Slide 88: Non-client receivables
Payers Flywire Clients OPPORTUNITY #2 1 1 Non-client receivables Use case 1: 2 Agents 2 Agent payments Existing funds ﬂow New funds ﬂow Non-Flywire Clients 89. ©Flywire Corporation 2022
Slide 89: Non-client receivables: 529 savings plans
Non client Families receivables Families Use case 2: ~$400BN(1) 529 savings plans market Network of Network of 529 Savings Education Plans Institutions For citations, please refer to the appendix at the end of the presentation API 89. ©Flywire Corporation 2022
Slide 90: Platform & business model to do more with our payers
A domestic & international payer base with attractive OPPORTUNITY #3 demographics Platform & business A strong B2B2C model with model to do best in class unit economics more with our payers Several distribution channels across clients, aggregators, agents, digital, check-out pages 90. ©Flywire Corpo
Slide 91: Leverage existing payer relationships to increase payer LTV
Leverage 75 227 1.2M existing payer Payer NPS Countries originating payments 2021 total payers relationships to increase payer 93% 91% 4.5/5 LTV Customer Satisfaction Internal quality of service score * Trust Pilot score Score (LTM) (2022 YTD) Great transparency and awesome Best payment method ever.
Slide 92: Future innovation with payers
Pilot ating Evalu Future innovation Living expenses for international students Deeper affordability Additional HC segments with payers Adjacent TAM ating ting expansion Evalu Evalu a opportunities GICs / Student & travel blocked accounts insurance 92. ©Flywire Corporation 2022
Slide 95: FlyMate Community Mission
FlyMate Community Mission Deliver inclusive & compelling experiences that engage & care for FlyMates and that distinguish Flywire as a global ‘Employer of Choice.’ Key Facts 750+ 40+ 13 30+ Global Nationalities Global Languages FlyMates represented ofﬁces spoken *Figures as of May 19, 2022 95. ©Flyw
Slide 96: Growing & investing in our FlyMate community
Growing People & investing & Culture in our FlyMate community - 2022 Playbook Building a career Equity, inclusion & diversity Advancing Flywire’s EID ideals to build an of a lifetime 1 inclusive culture by creating ‘safe spaces’ for 4 Providing FlyMates the opportunity to both FlyMates to promote th
Slide 97: ...with a globally recognized culture
…with a globally recognized culture 96% FlyMates would recommend Everyone is Flywire to a so respectful no matter friend what background you come 93% from. It's a unique culture that FlyMates say embraces all. they are -FlyMate conﬁdent in the future success of the company 97. ©Flywire Corporation 2
Slide 100: Disclosures
Disclosures This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts contained in this presentation, in
Slide 101: Strong financial performance
Strong ﬁnancial performance Total Payment Revenue Less Adjusted Adjusted Volume Ancillary Services Gross Proﬁt EBITDA USD Billions USD Millions USD Millions USD Millions +43% +50% +51% Note: Percentages represent compound annual growth rates. See appendix for reconciliation of the Non-GAAP metrics o
Slide 102: Increasingly global and diversified revenue
Increasingly global and diversiﬁed revenue 2016 2022E ● Education from 98% of revenue to 79% ● Targeting Education to be less than 50% of our revenue in 5 years ● >50% Revenue US Cross Int’l Cross Domestic Emerging from non-U.S. Healthcare clients Border Border Education Verticals Education Educatio
Slide 103: Steady and diversified client growth
Steady and diversiﬁed client growth No client represented more 2.7K+* than 3% of 2021 revenue Client count as of period end * WPM clients included in Q1 2022 103. ©Flywire Corporation 2022
Slide 104: Growth from clients across cohorts
Growth from clients across cohorts Annual Net Revenue Retention of 141% in 2021 Note: Represents Revenue Less Ancillary Services. Simplee data not included. 104. ©Flywire Corporation 2022 3-year average Annual Net Revenue Retention of 123% through 2021
Slide 105: Growth & high retention drive LTV to CAC
Growth & high retention drive LTV to CAC Lifetime Value1 ÷ Customer Acquisition Cost2 = Efﬁcient B2B2C ~7X 123%+ NRR 3 go-to-market model LTV/CAC Targeted marketing spend 95%+ active logo retention4 Strong word-of-mouth within verticals 1. Assumes 8-year average life of client across 2021 client add
Slide 106: High Adjusted Gross Margins
High Adjusted Gross Margins Annual expected range 65% 70% Margins trend lower if Margins trend higher if Revenue growth will drive strong accelerated growth in: accelerated growth in: adjusted gross proﬁt across the ● Credit card usage ● Bank transfer usage expected Adjusted Gross Margin range ● Tra
Slide 107: Stable spreads on our transaction volume
Stable spreads on our transaction volume Monetization Rate ● Spreads +/- 15 Processing Costs basis points from average Transaction Volume over two years Seasonal Education Peak Travel Recovering ● Monetization Rate and Adjusted Gross Margins driven by seasonality of payment type and vertical mix Not
Slide 108: Majority of FlyMates in functions that can scale
Majority of FlyMates in functions that can scale Corporate Development Finance Global Payments Payment Operations People & Culture B2B Sales Legal Education Sales Healthcare Sales High Scaling Lead Generation Travel Sales Moderate Scaling Client Experience Engineering Implementation Product Revenue
Slide 109: Financial targets
Financial targets Medium & Long Term Medium Term Long Term (2 - 4 years) (4 - 5+ years) 30%+ 30% 10 - 20% 25%+ Revenue less Adjusted gross Adjusted EBITDA Adjusted EBITDA ancillary services proﬁt growth margin margin growth *These estimates reﬂect our targets as of May 19, 2022 and are subject to ch
Slide 110: Financial highlights
Financial highlights 1 Excellent ﬁnancial performance with strong ﬁnancial outlook 2 Increasingly global and diversiﬁed revenue 3 Steady client growth with high retention 4 Excellent unit economics 5 Solid Adjusted EBITDA generation 6 Disciplined investment approach driving shareholder value 110. ©F
Slide 112: Why Flywire
Why Flywire Platform, network and Trusted to deliver on software built for scale the most important & and innovation for complex payments by decades to come our 2700+ clients Substantial TAMs Powerful economic with plenty of model with track room to run record of strong ﬁnancial performance 112. ©Fl
Slide 114: Glossary of Terms: Financial
Glossary of Terms: Financial NRR - Net Revenue Retention Rate We calculate annual net dollar-based retention rate for a given year based on the weighted average of the quarterly net dollar-based retention rates for each quarter in that year. We calculate the quarterly net dollar-based retention rate
Slide 115: Glossary of Terms: Financial
Glossary of Terms: Financial Cohort Deﬁned as new clients we added in a particular year ended Dec 31. A client is included in a particular cohort based on the year in which a client ﬁrst receives a payment from their customer using our services. While we believe these cohorts are a fair representati
Slide 116: Glossary of Terms: Industry
Glossary of Terms: Industry EHRs 2.7K+* Electronic health record ERPs Electronic Resource Planning systems GICs Guaranteed Investment Certiﬁcates 116. ©Flywire Corporation 2022
Slide 117: Source Appendix
Source Appendix Slide 7 1. For TAM calculations: 2.7K+* a. Education: Based on net household payments to educational institutions in OECD countries in 2020 according to the Organisation for Economic Co-operation and Development (OECD) and payments made to private education institutions in Southeast
Slide 118: Source Appendix Continued
Source Appendix Continued Slide 21 * 1. Education TAM: Based on net household payments to educational institutions in OECD countries in 2020 according to the Organisation for Economic2.7K+ Co-operation and Development and payments made to private education institutions in Southeast Asia in 2015 acco
Slide 119: Source Appendix Continued
Source Appendix Continued Slide 35 1. Flywire report, “What Consumers Want: A Patient Financial Engagement Survey, August 2021 2.7K+* Slide 36 1. ICEF Report, “Education agents poised to play a greater role in international student recruitment”, November 2021 Slide 37 1. Flywire report, “2022 B2B Pa
Slide 120: Revenue Less Ancillary Services, Adjusted Gross Profit, & Adjusted Gross Margin Reconciliations
Revenue Less Ancillary Services, Adjusted Gross Proﬁt, & Adjusted Gross Margin Reconciliations 2.7K+* 120. ©Flywire Corporation 2022
Slide 121: Net Loss to Adjusted EBITDA Reconciliation
Net Loss to Adjusted EBITDA Reconciliation 2.7K+* 121. ©Flywire Corporation 2022

Flywire — Investor Day (May 2022) on 6ix

Flywire Corporation - Voting — Flywire — Investor Day (May 2022)

Slide 1: Welcome to Flywire's Inaugural Analyst Day

Slide 2: Management team & today's presenters

Slide 3: Disclosures

Slide 4: Analyst Day 2022

Slide 5: The FLYW Vision

Slide 6: Our strategy to date

Slide 7: Servicing verticals with substantial TAMs

Slide 8: ...with strong secular trends underpinning growth

Slide 9: Since our IPO we have...

Slide 10: Clearly defined path for years of continued growth

Slide 11: Core learnings & the opportunity

Slide 12: Expanding the Flywire Advantage

Slide 13: Strong financial performance

Slide 14: 750+ FlyMates

Slide 15: Defining ESG at Flywire

Slide 16: 50+ FlyMates

Slide 17: Why Flywire

Slide 18: Industries we Serve

Slide 19: FLYW Forum: The industries we serve

Slide 20: Education: Mission

Slide 21: What we solve for (Education)

Slide 22: Healthcare: Mission

Slide 23: What we solve for (Healthcare)

Slide 24: Travel: Mission

Slide 25: What we solve for (Travel)

Slide 26: B2B: Mission

Slide 27: What we solve for (B2B)

Slide 28: Client Spotlight

Slide 29: Why they chose us Flywire

Slide 30: Why they chose us Flywire

Slide 31: Why they chose us Flywire

Slide 32: Why they chose us Flywire

Slide 33: Innovation and Opportunity

Slide 34: Innovation & opportunity in healthcare

Slide 35: Innovation & opportunity in education

Slide 36: Innovation & opportunity in B2B

Slide 37: Innovation & opportunity in travel

Slide 38: Why we win

Slide 39: Why we win in Travel

Slide 40: Why we win in B2B

Slide 41: Why we win in Healthcare

Slide 42: Why we win in Education

Slide 43: The FLYW Advantage

Slide 44: Disclosures

Slide 45: Next-Gen Payments Platform

Slide 46: Product & Engineering Mission

Slide 47: Core engineering values

Slide 48: Flywire solves complex vertical ecosystems

Slide 49: Powerful platform designed to solve complex payment flows

Slide 50: Personalization powers Flywire's platform

Slide 51: Flywire's platform is responsive & dynamic

Slide 52: Why we win with our Platform

Slide 53: Proprietary Payment Network

Slide 54: Disclosures

Slide 55: Global Payment Network Mission

Slide 56: Flywire network advantage

Slide 57: Global network coverage

Slide 58: Why the Flywire network?

Slide 59: Network ownership enables global expansion

Slide 60: Network scales from transaction, to vertical, to geography

Slide 61: Innovative approach to payer markets

Slide 62: Why we win with our Network

Slide 63: Q&A

Slide 64: Break

Slide 65: FLYW Investments Strategy

Slide 66: Disclosures

Slide 67: Investment areas

Slide 68: Expanding the Flywire Advantage

Slide 69: Prior investments established Flywire Advantage

Slide 70: Expanding the Flywire Advantage

Slide 71: Increasing our GTM investment...

Slide 72: ...to support a strong and growing pipeline

Slide 73: Geo expansion — selling globally

Slide 74: Operating globally: India Expansion

Slide 75: Leveraged M&A to accelerate geographic expansion

Slide 76: Embedding deeper in workflows

Slide 77: Cerner Integration

Slide 78: Bank of America

Slide 79: Case Studies: Short-term investments paying off