What is Flywire Corporation's net debt?

Flywire Corporation (FLYW) reported net debt of -$310.44M in Q1 2026.

How has Flywire Corporation's net debt changed year-over-year?

Flywire Corporation's net debt decreased by 140.8% year-over-year, from -$128.94M to -$310.44M.

What is the long-term trend for Flywire Corporation's net debt?

Over 5 years (2020 to 2025), Flywire Corporation's net debt has grown at a 31.0% compound annual growth rate (CAGR), from -$84.7M to -$326.57M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Flywire Corporation FLYW Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$188.1M+41.0%

Operating income$10.8M+198%

Net income$12.5M+401%

EPS (diluted)$0.10+433%

Balance sheet

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Cash & equivalents$311.9M+63.7%

Total debt$1.5M-97.6%

Total equity$852.2M+8.7%

Total assets$1.2B+9.6%

Cash flow

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Operating cash flow-$15.8M+80.4%

CapEx$139.0K-25.7%

Free cash flow-$16.0M+80.3%

Valuation

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Market cap$1.93B+20.2%

Enterprise value$1.62B+5.3%

P/E63.9×—

P/S2.8×-0.3×

Profitability

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Operating margin5%+3.8pp

Net margin4.5%—

FCF margin24.2%—

Returns & leverage

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Return on equity3.7%—

Debt / equity0×-0.1×

Current ratio1.7×-0.3×

Where this comes from

Calculated from Flywire Corporation’s reported figures.

$1.5Mtotal debt−$311.9Mcash and equivalents=-$310.44M

The official record: Flywire Corporation’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Flywire Corporation's net debt?: Flywire Corporation (FLYW) reported net debt of -$310.44M in Q1 2026.
How has Flywire Corporation's net debt changed year-over-year?: Flywire Corporation's net debt decreased by 140.8% year-over-year, from -$128.94M to -$310.44M.
What is the long-term trend for Flywire Corporation's net debt?: Over 5 years (2020 to 2025), Flywire Corporation's net debt has grown at a 31.0% compound annual growth rate (CAGR), from -$84.7M to -$326.57M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.