22 slides from Flywire Corporation - Voting's earnings presentation, Aug 10, 2021
Slide 1: Q2 2021 Earnings Supplement
Q2 2021 Earnings Supplement August 2021 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 2,400+ Clients Worldwide 10+ Years to Build Payment Network 550+ Global FlyMates 64 NPS score 130+ Currencies Supported As of June 30, 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 >1.6M 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
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, colleges and universities are seeing a return to “normal” The COVID pandemic has accelerated the digitization and consumerism of healthcare There is significant pent-up demand for travel, and borders are s
Slide 13: Growth strategies
Growth strategies Grow with new clients 200+ New clients added 1H 2021 Grow with existing clients 118% 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 acqui
Slide 14: Q2 2021 Performance
Flywire Q2 2021 Performance
Slide 15: GAAP Financial Highlights Q2 2021
GAAP Financial Highlights Q2 2021 1. Represents Y-o-Y Growth as compared to Q2 2020 $37M (+56%)1 Revenue 60.8% (+1160 bps)1 Gross Margin $18.1M ($16.0M) in Q2 20 Net Loss 5
Slide 16: Key Operating Metrics (Non-GAAP) Q2 2021
Key Operating Metrics (Non-GAAP) Q2 2021 $1.9B (+85%)1 Total Payment Volume $33M (+77%)1 Revenue Less Ancillary Services 68.2% (+530 bps)1 Adjusted Gross Margin ($0.1M) ($7.0M) in Q2 20 Adjusted EBITDA 1. Represents Y-o-Y Growth as compared to Q2 2020 See appendix for reconciliation to GAAP amounts
Slide 17: Financial Outlook
Financial Outlook Flywire
Slide 18: FY 2021 Outlook
FY 2021 Outlook $158-161M Revenue Less Ancillary Services $4-6M 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 calc
Slide 19: Appendix
Flywire Appendix
Slide 20: Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations
$USD in Millions Revenue Less Ancillary Services & Adjusted Gross Margin Reconciliations Three Months EndedJune 30, Six Months EndedJune 30, (In Millions, Except for Gross Margin and AdjustedGross Margin) 2021 2020 2021 2020 Revenue$ 37.0 $23.8 $ 82.0$ 56.5Adjusted to exclude gross up for: Pass-thro
Slide 21: Net Loss to Adjusted EBITDA Reconciliation
$USD in Millions Net Loss to Adjusted EBITDA Reconciliation
Slide 22: Reconciliation of Revenue to Revenue Less Ancillary Services Guidance
$USD in Millions Reconciliation of Revenue to Revenue Less Ancillary Services Guidance Full year 2021 Guidance Low HighRevenue$ 173.0 $ 178.0 Adjusted to exclude gross up for: Pass-through cost for printing and mailing (14.0) (16.0)Marketing fees (1.0) (1.0)Revenue Less Ancillary Services$ 158.0$ 16