Slide 1: Q1 2024 Earnings supplement
Q1 2024 Earnings supplement May 7, 2024
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: Our mission is to deliver the most important and complex payments
Execution Fulfillment Our mission is to deliver the most important and complex payments 3
Slide 4: Q1 2024 performance
Q1 2024 performance AT cr mF Fy TZ V&A Cc £™ j WE gy a 1) => V Gg ww. f[ yy 7 wy | 2 a ry XX —— Dp Ty | a on bal ra ~ a = iv es —_
Slide 5: GAAP financial highlights Q1 2024
GAAP financial highlights Q1 2024 $114.1M 61.7% $(6.2M) Revenue Gross Margin Net Loss 5
Slide 6: Key operating metrics (Non-GAAP) Q1 2024
Key operating metrics (Non-GAAP) Q1 2024 $7.0B $110.2M $71.9M $13.2M +22.7%1 +23.7%1 + 20.0%1 + 88.1%1 Total Revenue Less Adjusted Adjusted payment Ancillary Gross Profit EBITDA volume Services 1. Represents Y-o-Y Growth as compared to Q1 2023. 6 See Appendix for reconciliation to GAAP amounts
Slide 7: Growth strategies
Growth strategies Grow with Grow with Expand our Expand to Pursue strategic existing new clients ecosystem new industries, & clients through channel geographies & value-enhancing partnerships products acquisitions 125% 200+ 2023 average New clients in Q1 annual dollar-based 2024 net retention rate 7
Slide 8: Healthcare spotlight
Healthcare spotlight
Slide 9: Healthcare Mission and Opportunity
HEALTHCARE Mission Deliver affordable healthcare solutions for patients and superior provider yield, through the power of digital experiences. Opportunity $500BN <10% <10% Penetration of Penetration of TAM (1) 7K+ US hospitals 600+ US healthcare (2) systems (3) Adoption & coverage is as of March, 20
Slide 10: Healthcare overview: What we solve and why we win
Healthcare overview What we solve Why We Win Patient Centricity Fragmented +29% increase in net ● Increased patient marketplace collections for our costs ● Legacy vendors and new clients (1) Affordability What we ● entrants Digital engagement Health system consolidation solve for ● ● ● Largely paper
Slide 11: Continued innovation and opportunity in healthcare
Continued innovation and opportunity in healthcare Continued investments in GTM for acute, non-acute market & strategic partnerships Acute Market Non-acute Market Strategic Partnerships ● Specialties in ambulatory space ● Large, multi-specialty health (Ortho, DME, ASC) ● Established end-to-end RCM w
Slide 12: Flywire Client Spotlight: OSF Healthcare
Flywire Client Spotlight KEY FOCUS AREAS ● Increase collections and payment plan enrollment with improved patient experience ● Empower patients and reduce staff burden with self service payment channels FLYWIRE IMPACT OSF Healthcare is a not-for-profit Catholic health care organization based in the m
Slide 13: Integrated Financing solution & case study
Integrated Financing solution & case study
Slide 14: Integrated Financing
Integrated Financing Flywire has partnered with a third party to extend affordability options through a non-recourse patient financing model ● Patient tailored payment options with zero interest and no surprise fees ● Analytics identifies options for how we can engage the patient ● Risk modelling anal
Slide 15: Fully integrated & automated experience
Fully integrated & automated experience Enrollment & Funding & Posting Servicing Patient Information Engagement third-party underwriting Easily connects with Targets the right patients Takes <1 min, customizes a Prices the risk and plugs in Optimizes both repayment provider or partner with the right
Slide 16: Increasing collectability and patient affordability at a large health system
CASE STUDY KEY FOCUS AREAS ● Increase patient cash while significantly lowering self pay plan A/R ● Reduce staff burden in servicing long term payment plans in house ● Empower patients with a unified payment experience with ability to enroll in a financed plan in minutes within provider’s payment exper
Slide 17: Financial outlook
Financial outlook a Vs > 17 =e 1 / _ 4 VW a = : ‘ | X a
Slide 18: Q2 2024 outlook
Q2 2024 outlook* $96 – $104M $1 – $4M Revenue Less Ancillary Adjusted Services EBITDA1 1. Flywire has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes within this presentation because
Slide 19: FY 2024 outlook
FY 2024 outlook* $478 – 498M $64 – 75M Revenue Less Ancillary Adjusted Services EBITDA1 1. Flywire has not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes within this presentation becaus
Slide 20: Canada Update
Canada Update Recent events Expectations Jan 2024 Mid/late March 2024 Q2 2024 2H 2024 Policies Pause on new Canada clarifies Begin ramping & Continued ramping & Announced study permits policies & sets resumption of resumption of admissions slows admissions allocations admissions Fall intake starts in
Slide 21: Appendix
Appendix
Slide 22: Revenue Less Ancillary Services at constant currency
Revenue Less Ancillary Services at constant currency* 22 $USD in Millions
Slide 23: Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations
Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations $USD in Millions 23
Slide 24: Revenue disaggregation by revenue type
Revenue disaggregation by revenue type 24 $USD in Millions
Slide 25: Net Income (Loss) to Adjusted EBITDA reconciliation
Net Income (Loss) to Adjusted EBITDA reconciliation 25 $USD in Millions
Slide 26: Reconciliation of Non-GAAP Operating Expenses
Reconciliation of Non-GAAP Operating Expenses 26 $USD in Millions
Slide 27: Reconciliation of Revenue to Revenue Less Ancillary Services Guidance
Reconciliation of Revenue to Revenue Less Ancillary Services Guidance 27 $USD in Millions
Slide 28: Source appendix
Source appendix Slide 9 1. Healthcare TAM: Based on U.S. out of pocket healthcare spending in 2019 according to the Centers for Medicare & Medicaid Services and cross-border healthcare payments in 2020 according to Patients Without Borders. 2. Definitive Healthcare HospitalView, March 2022 3. Agency