Slide 1: Q2 2024 Earnings Supplement
Exhibit 99.2 Q2 2024 Earnings Supplement August 6, 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
Slide 4: Q2 2024 performance
Q2 2024 performance
Slide 5: GAAP financial highlights Q2 2024
GAAP financial highlights Q2 2024 $103.7M 59.7% $(13.9M)* Revenue Gross Margin Net Loss *Q2 includes a higher income tax provision of approximately $4M based on full year tax estimates, which amplified our loss in the quarter, driven by seasonality of our business. The H1 2024 tax provision of $6.3M t
Slide 6: Key operating metrics (Non-GAAP)
Key operating metrics (Non-GAAP) Q2 2024 $99.9M $63.4M $5.8M $4.9B 1 2 1 1 +18.8% +25.7% + 25.5% + 593 bps Total Revenue Less Adjusted Adjusted EBITDA payment Ancillary Gross Profit (Adjusted EBITDA volume Services Margin Expansion) 1. Represents Y-o-Y Growth as compared to Q2 2023. 2. Represents Y-o
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 Q2 annual dollar-based 2024 net retention rate
Slide 8: Capital allocation strategy overview
Capital allocation strategy overview 13 2 Organic Growth Strategic Share Investments Acquisitions Buybacks $150M Share Repurchase Program Geographic Expansion Accelerate within existing enables purchasing when industry and / or geographies projected return exceeds our GTM Enhancement cost of equity
Slide 9: Canadian Government action impact
Canadian Government action impact Upward revision of government action / policy impact based on slower than expected recovery and applications seen since Q2 guidance (All impacts listed below in $ M) Q2 Guidance Q1 Q2E Q3E Q4E FYE Q2 Guidance: Canadian Full year mid-teens (M/HSD) (MSD) (Low $20s M)
Slide 10: Canada Higher Ed quarterly trend
Canada Higher Ed quarterly trend Canadian policies impacting revenue growth; expecting weakness to persist in H2 Canadian Higher Education Transaction Revenue Less Ancillary Services (RLAS) Q3’24E and Q4’24E based on guidance and information available as of August 6, 2024, including expectations reg
Slide 11: B2B spotlight
B2B spotlight
Slide 12: Why traditional payment solutions don't meet B2B businesses global collection needs
Why traditional payment solutions doesn’t meet B2B Businesses global collection needs ✘ High cost of getting paid ✘ Back-office inefficiencies ✘ Poor customer experience ✘ Inability to scale and operate globally
Slide 13: B2B businesses trust Flywire to:
B2B businesses trust Flywire to: 12345 Lower payment Make global Save time and get Drive growth with Make decisions that processing costs expansion easy paid faster happier customers matter B2B client’s payers Our software Our global payments Incoming merchant B2B clients have full can pay in 140+ a
Slide 14: Improving payments drives business results
Improving payments drives business results* Drive Simplify Decrease Increase expansion collections DSO profitability 90% 88% 87% 55% could accelerate agree would like to lose up to with an easier cross-border oer add ff itional 5% in revenue way to deal with collections payment methods monthly due to
Slide 15: Flywire supports the entire lifecycle of an accounts receivable transaction
Flywire supports the entire lifecycle of an accounts receivable transaction Domestic & international flows with Flywire Customer Flywire B2B Business ₹ B2B $ € Business Diverse & local 240+ Countries & territories payment methods Credit/Debit 140+ Bank Transfer Currencies supported Online Methods Rec
Slide 16: Invoiced acquisition
Invoiced acquisition
Slide 17: Our B2B product connects payers and clients through payments
Our B2B product connects payers and clients through payments To date we Payers Clients haven’t had software depth matching EDU or Healthcare
Slide 18: With Invoiced, Flywire to be more deeply embedded into invoicing/AR workflow
With Invoiced, Flywire to be more deeply embedded into invoicing/AR workflow Payers Clients processes and automation
Slide 19: Broadens B2B product suite
Broadens B2B product suite Invoicing and deeper software were key components to our vision: Invoiced 1 accelerates our roadmap, and is expected to make Flywire stickier and drive adoption of payments faster Cross-sell opportunities Strategic Enabling Flywire as a payments option within 2 Invoiced cu
Slide 20: Software embeds Flywire deeper into customers' AR workflows
Software embeds Flywire deeper into customers’ AR workflows B2B workflows begin and end with ERPs; however back-office operations are driven by a combination of software and payments solutions Invoicing Flow ERP Software +Payments Software ERP System of Order entry & Customer Cash Dispute Data System
Slide 21: Financial Outlook
Financial Outlook
Slide 22: Q3 2024 outlook
Q3 2024 outlook* $141 – $151M $37 – $43M Revenue Less Adjusted 1 Ancillary Services EBITDA 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 bec
Slide 23: FY 2024 outlook
FY 2024 outlook* $469 – $485M $72 – $80M Revenue Less Adjusted 1 Ancillary Services EBITDA 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 bec
Slide 24: Appendix
Appendix
Slide 25: Revenue Less Ancillary Services at constant currency
Revenue Less Ancillary Services at constant currency* $USD in Millions (unaudited) 25
Slide 26: Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations
Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations $USD in Millions (unaudited) 26
Slide 27: Revenue disaggregation by revenue type
Revenue disaggregation by revenue type 27 $USD in Millions (unaudited)
Slide 28: Net Loss to Adjusted EBITDA reconciliation
Net Loss to Adjusted EBITDA reconciliation 28 $USD in Millions (unaudited)
Slide 29: Net Margin, EBITDA Margin and Adjusted EBITDA Margin
Net Margin, EBITDA Margin and Adjusted EBITDA Margin 29 $USD in Millions (unaudited)
Slide 30: Reconciliation of Non-GAAP Operating Expenses
Reconciliation of Non-GAAP Operating Expenses 30 $USD in Millions (unaudited)
Slide 31: Reconciliation of Revenue to Revenue Less Ancillary Services Guidance
Reconciliation of Revenue to Revenue Less Ancillary Services Guidance 31 $USD in Millions (unaudited)