Slide 1: Q3 2023 Earnings Supplement
Exhibit 99.2 Q3 2023 Earnings Supplement November 7, 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: 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: Flywire Q3 2023 Performance
Ff lywire Q3 2023 Performance
Slide 5: GAAP Financial Highlights Q3 2023
GAAP Financial Highlights Q3 2023 $123.3 M 63.6% $10.6M Revenue Gross Margin Net Income 5
Slide 6: Key Operating Metrics (Non-GAAP) Q3 2023
Key Operating Metrics (Non-GAAP) Q3 2023 $116.8M $80.1M $27.5M $8.9B 1 1 1 1 +26% +31.4% + 28.0% + 51.0% Total Revenue Less Adjusted Gross Adjusted 2 Payment Ancillary Profit EBITDA Volume Services 1. Represents Y-o-Y Growth as compared to Q3 2022. 2. Prior year Adjusted Gross Profit has been recast
Slide 7: Growth Strategies
Growth Strategies Grow with Grow with Expand our Expand to Pursue strategic & existing clients new clients ecosystem through new industries, value-enhancing channel geographies & acquisitions partnerships products 124% 185+ 2022 average annual New clients in Q3 2023 dollar-based net retention rate 7
Slide 8: Pursue Strategic & Value-Enhancing Acquisitions
Pursue Strategic & Value-Enhancing Acquisitions
Slide 9: Strong track record with M&A; StudyLink is the next smart deal for Flywire
Strong track record with M&A StudyLink is the next smart deal for Flywire December 2021 July 2022 ~$50M purchase price ~$30M purchase price Deal Thesis Deal Thesis ● Accelerate growth in core geographic region of UK ● Leverage Flywire network and client footprint to ● Leverage Flywire’s global payme
Slide 10: StudyLink's role in Australia higher education
StudyLink’s role in Australia higher education StudyLink’s software plays a key part of the international student journey by facilitating applications and approval workflows between students, their agents, and the universities in Australia Deposits represent 20 - 30%+ of total cross- opportunity bor
Slide 11: Flywire's ecosystem today with agents, clients, and payers
Flywire’s ecosystem today with agents, With StudyLink, Flywire is more deeply embedded & clients, & payers able to capture the top of the funnel with agents & payers in AUS Agents. Agents. Students. Students. Clients. Clients. 11
Slide 12: Capture more AUS/NZ Market
Capture more AUS/NZ Market Top-four core International Education market with substantial revenue potential 1 - ~620K international students studying in AUS - $11BN of total tertiary education TAM Key benefits Expand in target markets of StudyLink Accelerate expansion of StudyLink’s success in 2 educ
Slide 13: Travel spotlight
Travel spotlight
Slide 14: Travel Mission and Opportunity
TRAVEL Mission Be the single integrated payments solution that solves the most complex travel payments across tour operators, accommodations providers and destination management companies (DMCs). Opportunity $530BN <1% <1% Penetration of Adoption from 1.4 BN (1) 2.5M travel TAM international operato
Slide 15: Continued growth in large, fragmented segments
Continued growth in large, fragmented segments Investments needed in GTM to match our ambition and maintain growth DMCs, Luxury Travel Travel Operators Accommodations Networks $440B+ $45B+ $70B+ ● Experiential travel companies ● One stop shops for high-end, bespoke ● Boutique hotels, luxury villas,
Slide 16: Travel overview: What we solve, Why we win
Travel overview What we solve Why We Win Up to 50% time Complexity Fragmented saved on processing in payments marketplace guest payments ● High costs ● Legacy homegrown provider ● No visibility or tracking ● Multiple systems not connected What we ● Manual workflows ● Operational inefficiencies solve
Slide 17: Case Study
CASE CASE STUSTU DY DY Client Challenge ● Needed to automate currency conversion to provide customers choice and pay suppliers ● Security provisions impeded user experience ● Lacked support for customers and staff Why they chose Flywire South Africa us solution ● Ability to receive funds in the ● Re
Slide 18: Software drives value in Travel payments
Software drives value in Travel payments Healthy travel spreads as volume grows 100%+ volume growth over Q3 2022 Strong Adjusted Gross Profit contribution. Travel growth impacts gross margins given pass through of interchange as cost of sales. However, net gross profit spreads in the travel vertical
Slide 19: Financial Outlook
Financial Outlook Ff lywire
Slide 20: Q4 2023 Outlook
Q4 2023 Outlook* $86.5 – $90.5M $1.0 - $4.0M 1 Revenue Less Ancillary Adjusted EBITDA Services 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
Slide 21: FY 2023 Outlook
FY 2023 Outlook* $372.0 - 376.0M $35.0 - 39.0M 1 Revenue Less Ancillary Adjusted EBITDA Services 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 presentati
Slide 22: Appendix
Appendix Ff lywire
Slide 23: Revenue Less Ancillary Services at Constant Currency
Revenue Less Ancillary Services at Constant Currency* $USD in Millions
Slide 24: 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 25: Revenue Disaggregation by Revenue Type
Revenue Disaggregation by Revenue Type 25 $USD in Millions
Slide 26: Net Income (Loss) to Adjusted EBITDA Reconciliation
Net Income (Loss) to Adjusted EBITDA Reconciliation $USD in Millions 26
Slide 27: Reconciliation of Revenue to Revenue Less Ancillary Services Guidance
Reconciliation of Revenue to Revenue Less Ancillary Services Guidance $USD in Millions 27
Slide 28: Supplemental Outlook Details
Supplemental Outlook Details The following table provides a reconciliation of Fiscal Year 2023 outlook to the prior outlook provided in August (Unaudited) Fiscal Year 2023 Guidance (1) (in millions) Midpoint of Outlook Increase Currency Fluctuations Midpoint of Outlook (2) in August from Prior Outlo
Slide 29: Glossary of Terms: Financial
Glossary of Terms: Financial NRR - Net Revenue Retention Rate We calculate annual net dollar-based retention rate for a given year based on the weighted average of the quarterly net dollar-based retention rates for each quarter in that year. We calculate the quarterly net dollar-based retention rate