24 slides from Flywire Corporation - Voting's earnings presentation, Feb 28, 2023
Slide 1: Q4 & FY 2022 Earnings Supplement
Q4 & FY 2022 Earnings Supplement February 28, 2023
Slide 2: 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 3: Financial Disclosure Advisory
Financial Disclosure Advisory The Company reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). The expected financial results discussed in this press release are preliminary and unaudited and represent the most current information available to the
Slide 4: Our mission is to deliver the most important and complex payments
Execution Fulfillment Our mission is to deliver the most important and complex payments 4
Slide 5: Flywire Q4 2022 Performance
Flywire Q4 2022 Performance
Slide 6: GAAP Financial Highlights Q4 2022
GAAP Financial Highlights Q4 20221 $73.1 M 56.8% $(1.1)M Revenue Gross Margin Net Loss 6 1 See “Disclosures: Financial Disclosure Advisory”
Slide 7: Key Operating Metrics (Non-GAAP) Q4 2022
Key Operating Metrics (Non-GAAP) Q4 2022 $4.1B $67.4M 66.0% $1.0M +29%1 +47%1 (330) bps1,2 Total Revenue Less Adjusted Adjusted Payment Ancillary Gross EBITDA Volume Services Margin 1. Represents Y-o-Y Growth as compared to Q4 2021 2. Prior year Adjusted Gross Profit and Adjusted Gross Margin have b
Slide 8: Flywire FY 2022 Performance
Flywire FY 2022 Performance
Slide 9: GAAP Financial Highlights FY 2022
GAAP Financial Highlights FY 20221 $289.4M 60.4% $(39.3)M Revenue Gross Margin Net Loss 9 1 See “Disclosures: Financial Disclosure Advisory”
Slide 10: Key Operating Metrics (Non-GAAP) FY 2022
Key Operating Metrics (Non-GAAP) FY 2022 $18.1B $267.1M 68.1% $14.9M +37%1 +47%1 (340) bps1, 2 Total Revenue Less Adjusted Adjusted Payment Ancillary Gross EBITDA Volume Services Margin 1. Represents Y-o-Y Growth as compared to FY 2021 2. Prior year Adjusted Gross Profit and Adjusted Gross Margin ha
Slide 11: Growth strategies
Growth strategies Expand our Expand to Pursue strategic Grow with Grow with ecosystem new industries, & value- existing clients new clients through channel geographies & enhancing partnerships products acquisitions 124% 145+ 570+ 2022 average New clients in Q4 Travel & B2B annual dollar-based 2022 C
Slide 12: Our Existing Clients Drive Revenue Growth
1, 2, 3 Our Existing Clients Drive Revenue Growth 2022 NRR exceeds three-year corporate average New and legacy clients expand over time to drive long-term strong NRR Returning to healthy run rate post COVID recovery
Slide 13: NRR Drivers Illustrative Example
NRR Drivers Illustrative Example Expanded relationship with CommonSpirit Health, with first go-live with a Functional / Departmental Dignity Health facility (a recent acquisition of CSH). CommonSpirit operates 140 Expansion hospitals and more than 1,500 care sites across 21 states. Expand from Nordi
Slide 14: Increasingly global and diversified revenue
Increasingly global and diversified revenue Travel vertical performance post- COVID was stronger than anticipated at our 2022 Analyst Day Cohort Go acquisition adds to International Cross- Border and Domestic Education Note: Represents share of total Flywire Revenue Less Ancillary Services in respec
Slide 15: 2022 Spreads on Transaction Volume Remain Stable
2022 Spreads on Transaction Volume Remain Stable Monetization rate is the quotient of Revenue Less Ancillary Services divided by Total Payment Volume. Spread is difference between monetization rate and cost of sales.
Slide 16: Flywire Financial Outlook
Flywire Financial Outlook
Slide 17: Q1 2023 Outlook
Q1 2023 Outlook $81 – $85 M $3 - $5M Revenue Less Adjusted EBITDA1 Ancillary Services 1. Flywire has relied upon the exception in item 10(e)(1)(i)(B) of Regulation S-K and has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to forecast
Slide 18: FY 2023 Outlook
FY 2023 Outlook $353 - $364M $28 - 34M Revenue Less Adjusted EBITDA1 Ancillary Services 1. Flywire has relied upon the exception in item 10(e)(1)(i)(B) of Regulation S-K and has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to foreca
Slide 19: Flywire Appendix
Flywire Appendix
Slide 20: Revenue Details
Revenue Details Revenue Less Ancillary Services at Constant Currency (S in millions) (unaudited) Three Months Ended Year Ended Growth Growth December 31,2022 December 31, 2021 Rates December 31,2022 December 31, 2021 Rates GAAP revenue $73.1 $51.4 42% $289.4 $201.1 44% Ancillary services $5.7 $5.5 $
Slide 21: Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations
Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations * *Beginning with the quarter ended December 31, 2022, we have excluded depreciation and amortization from the calculation of our adjusted gross profit, which we believe enhances the understanding of the Company’s operating perf
Slide 22: Revenue Disaggregation by Revenue Type
Revenue Disaggregation by Revenue Type $USD in Millions 22
Slide 23: Net Loss to Adjusted EBITDA Reconciliation
Net Loss to Adjusted EBITDA Reconciliation $USD in Millions
Slide 24: Reconciliation of Revenue to Revenue Less Ancillary Services Guidance
Reconciliation of Revenue to Revenue Less Ancillary Services Guidance $USD in Millions