Lawsuit Alert: Investors who lost money with shares of Flywire Corporation (NASDAQ: FLYW) should contact the Shareholders Foundation

An investor, who purchased shares of Flywire Corporation (NASDAQ: FLYW), filed a lawsuit over alleged violations of Federal Securities Laws by Flywire Corporation in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Flywire Corporation (NASDAQ: FLYW) have certain options and for certain investors are short and strict deadlines running. Deadline: September 23, 2025. NASDAQ: FLYW investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Boston, MA based Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. The Company's payment platform and network, as well as its vertical-specific software, purportedly facilitate payments between clients and customers in a variety of industries.
Although Flywire has a wide range of clients across various verticals-i.e., markets encompassing a group of companies and customers that are all interconnected around a specific niche-its largest vertical is education, the volumes and revenue from which rely on international enrollments and student school preferences. Accordingly, Flywire's business in the education industry is of particular importance to investors and analysts, especially the Company's Americas market, consisting of the U.S. and Canada, as well as its Asia and Pacific region market, including Australia. To assess its financial performance in these markets, Flywire utilizes a number of non-GAAP financial measures important to investors, including, inter alia, revenue less ancillary services ("RLAS") and foreign exchange ("FX") neutral RLAS.

In January 2024, the Canadian government began announcing intake caps on international student permit applications, thereby reportedly reducing the number of international students coming to Canada. This, in turn, resulted in a corresponding reduction in payment flows and an adverse effect on Flywire's business. Likewise, since late 2023, the Australian government has tightened international student visa rules through various measures, which have likewise had an adverse impact on the Company's business.
Notwithstanding the foregoing permit- and visa-related headwinds, at all relevant times, Defendants consistently touted the sustainability of Flywire's revenue growth and financial condition, while downplaying the anticipated negative impacts of permit- and visa-related headwinds on the Company's business. For example, as late as November 2024, Defendants represented, among other things, that Flywire was and would remain a purported "Rule of 40" company with strong revenue growth, while indicating that, for full year ("FY") 2025, FX neutral RLAS growth year-over-year ("Y/Y") was expected to be in the low 20% range, that revenue growth in Canada would be relatively flat compared to 2024, and that Defendants observed merely an early moderation in the revenue growth rate in Australia.

Flywire Corporation (NASDAQ: FLYW) reported that its annual Total Revenue rose from $403.09 million in 2023 to over $492.14 million in 2024, and that its Net Loss of $8.56 million in 2023 turned to a Net Income of $2.9 million in 2024.

On February 25, 2025, Flywire Corporation announced its fourth quarter ("Q4") and FY 2024 financial results. Therein, for Q4 2024, the Company reported a loss per share of $0.12, missing consensus estimates by $0.12, and revenue of $117.6 million, missing consensus estimates by $1.25 million. In discussing these results, Flywire's Chief Executive Officer Michael Massaro ("Massaro") blamed "a complex macro environment with significant headwinds[.]" Flywire's Chief Executive Officer also announced that the Company would "undertak[e] an operational and business portfolio review" and certain "efficiency measures" including "a restructuring, which impacts approximately 10% of our workforce." Flywire's Chief Financial Officer Defendant Cosmin Pitigoi ("Pitigoi") also advised that "[f]or our 2025 financial outlook, we project [RLAS] growth of 10-14% on an FX-neutral (constant currency) basis"-significantly less than low 20% range previously provided to investors.
The same day, Flywire Corporation held a conference call with investors and analysts to discuss its Q4 and FY 2024 results. During the call, Defendants revealed that the Company's business in the education sector had significantly deteriorated due to worsening permit- and visa-related headwinds, including "double digit declines in student visa issuance in our big four geographic markets," with "continued visa policy restrictions" anticipated in 2025. Significantly, Defendant Pitigoi disclosed that Defendants "expect revenue in both [Canadian and Australian] markets to be down over 30% [Y/Y]" because of "recent policy changes" and "new visa rules [that] are starting to affect demand[,]" while also citing headwinds in the Company's U.S. market on similarly shifting visa trends.
The same and the following day, multiple analysts downgraded their recommendation on Flywire and/or cut their price target ("PT") on the Company's stock, citing its poor Q4 and FY 2024 results. Multiple analysts also noted that Flywire's forecasted FY 2025 revenue growth, particularly with respect to U.S., Canadian, and Australian markets, was unexpected and/or stood in sharp contrast to Defendants' prior representations.

Shares of Flywire Corporation (NASDAQ: FLYW) declined from $23.40 per share on November 29, 2024 to $8.62 per share on February 26, 2025.

The plaintiff claims that between February 28, 2024 and February 25, 2025, the Defendants made false and/or misleading statements and/or failed to disclose that the strength and sustainability of Flywire's revenue growth was overstated, that the negative impact that permit- and visa-related restrictions were having and were likely to have on Flywire's business was understated, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.

Those who purchased shares of Flywire Corporation (NASDAQ: FLYW) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.