Slide 1: Q4 & FY 2021 Earnings Supplement
Q4 & FY 2021 Earnings Supplement March 2022 Exhibit 99.2
Slide 2: Forward-looking statements
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, including stat
Slide 3: Our mission is to deliver the most important and complex payments
Execution Fulfillment Our mission is to deliver the most important and complex payments
Slide 4: We help our clients get paid and their customers pay with ease
…and their customers pay with ease from anywhere in the world We help our clients get paid…
Slide 5: Software drives value in payments
Software drives value in payments Next Gen Platform + Global Payment Network
Slide 6: Flywire at a glance
240+ Countries & Territories 2,500+ Clients Worldwide 10+ Years to Build Payment Network 700+ Global FlyMates $13.2BN Total 2021 Payment Volume 140+ Currencies Supported As of December 31, 2021
Slide 7: High-stakes, high-value payments in large markets
High-stakes, high-value payments in large markets Education $660B TAM1 >2,000 global institutions >2M students globally B2B Payments $10T TAM4 Unique network of assets to support B2B Travel ~$530B TAM3 Large travel operators/ accommodations Healthcare $500B TAM2 >80 healthcare systems 4/top 10 US he
Slide 8: Our Flywire Advantage & Opportunity
Our Flywire Advantage & Opportunity
Slide 9: We believe our runway for growth is substantial
$4.3 TRILLION $1.7 TRILLION $10 TRILLION B2B We believe our runway for growth is substantial 2,3,4 5 Education Healthcare Travel vs. Global E-commerce1 Flywire Market Opportunity 1.eMarketer, 2020 Global Online Sales 2. OECD & Parthenon report (Education); 3. Centers for Medicare & Medicaid Services
Slide 10: Our proven Flywire Advantage
Our proven Flywire Advantage
Slide 11: Fueling a powerful & accelerating flywheel
Fueling a powerful & accelerating flywheel Improved Experience Larger Ecosystem More Products Broader Footprint
Slide 12: Strong tailwinds across our verticals
Strong tailwinds across our verticals The digitization of payments is inevitable In education, demand for global education remains strong with U.S. higher education reporting 68% 1 increase in international student enrollment The need for consumer-friendly and digital first payment options continues
Slide 13: Growth strategies
Growth strategies Grow with new clients 400+ New clients in FY21 Grow with existing clients 123%1 Three year average annual dollar-based net retention rate Expand our ecosystem through channel partnerships Expand to new industries, geographies & products Pursue strategic & value-enhancing acquisitio
Slide 14: Flywire Q4 2021 Performance
=Flywire Q4 2021 Performance
Slide 15: GAAP Financial Highlights Q4 2021
GAAP Financial Highlights Q4 2021 1 $51.4M Revenue 59.7% Gross Margin $(11.0)M Net Loss 1. See “Disclosures: Financial Disclosure Advisory”
Slide 16: Key Operating Metrics (Non-GAAP) Q4 2021
Key Operating Metrics (Non-GAAP) Q4 2021 $3.1B (+75%)1 Total Payment Volume $45.9M (+56%)1 Revenue Less Ancillary Services 66.9% (-160 bps)1 Adjusted Gross Margin $(1.9)M Adjusted EBITDA 1. Represents Y-o-Y Growth as compared to Q4 2020 See appendix for reconciliation to GAAP amounts
Slide 17: FY 2021 Performance
Flywire FY 2021 Performance
Slide 18: GAAP Financial Highlights FY 2021
GAAP Financial Highlights FY 2021 1 $201.1M Revenue 62.3% Gross Margin $(28.0)M Net Loss 1. Unaudited. See “Disclosures: Financial Disclosure Advisory”
Slide 19: Key Operating Metrics (Non-GAAP) FY 2021
Key Operating Metrics (Non-GAAP) FY 2021 $13.2B (+76%)1 Total Payment Volume $181.1M (+58%)1 Revenue Less Ancillary Services 69.1% (-30 bps)1 Adjusted Gross Margin $22.7M Adjusted EBITDA 1. Represents Y-o-Y Growth as compared to 2020 See appendix for reconciliation to GAAP amounts
Slide 20: Financial Outlook
Financial Outlook Flywire
Slide 21: Q1 2022 Outlook
Q1 2022 Outlook $55 - 57M Revenue Less Ancillary Services The company is unable to provide a reconciliation from forecasted adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes, without making unreasonable efforts, to calculate certain reconcil
Slide 22: FY 2022 Outlook
FY 2022 Outlook $244 - 252M Revenue Less Ancillary Services $9 - 13M Adjusted EBITDA The company is unable to provide a reconciliation from forecasted adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes, without making unreasonable efforts, to
Slide 23: Appendix
Flywire Appendix
Slide 24: Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations
$USD in Millions Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations Reconciliation of Non-GAAP Financial Measures (Amounts in millions) Three Months Ended Year Ended December 31, December 31, 2021 2020 2021 2020 Revenue $51.393999999999998 $33.231000000000002 $201.149 $131.80000
Slide 25: Revenue Disaggregation by Revenue Type
$USD in Millions Revenue Disaggregation by Revenue Type Three Months Ended Three Months Ended December 31, 2021 December 31, 2020 Platform & Platform & Transaction Usage- Revenue Transaction Usage- Revenue Revenue $38.277999999999999 $13.115 $51.393000000000001 $22.497 $10.734 $33.231000000000002 $1
Slide 26: Net Loss to Adjusted EBITDA Reconciliation
$USD in Millions Net Loss to Adjusted EBITDA Reconciliation Reconciliation of Non-GAAP Financial Measures (Amounts in millions) Three Months Ended Year Ended December 31, December 31, 2021 2020 2021 2020 Revenue $51.393999999999998 $33.231000000000002 $201.149 $131.80000000000001 $1.5465679636484004
Slide 27: Reconciliation of Revenue to Revenue Less Ancillary Services Guidance
$USD in Millions Reconciliation of Revenue to Revenue Less Ancillary Services Guidance Guidance Three Months Ended March 31, 2022 Year Ended December 31, 2022 Low High Low High Revenue $59 $63 $266 $276 Adjusted to exclude gross up for: Pass through cost for printing and mailing -3.7 -5.7 -20.399999