Flywire Corp (FLYW): restructuring charge — Flywire acquires Sertifi for $330M, Q4 revenue up 17%, plans 10% workforce reduction

Flywire Corp

2024-FY EPS reported $0.02 revenue$492,144,000

Acquired Sertifi, a hospitality payments platform, for $330M cash plus up to $10M contingent and $10M RSUs; funded with cash and $125M from credit facility.
Q4 2024 revenue $117.6M (+17% YoY), revenue less ancillary services $112.8M (+17.4%), adjusted EBITDA $16.7M (14.8% margin, +680 bps).
Approved restructuring: workforce reduction of ~10%, expected charges $7-9M ($5-6M cash), majority in Q1 2025.
FY2025 guidance: revenue less ancillary services growth 10-14% FX-neutral, adjusted EBITDA margin +200-400 bps; Sertifi expected to add $30-40M revenue.
Company launching operational and business portfolio review to optimize investments and focus on core strengths.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Flywire Corp completed an acquisition involving S Legacy Holdco, Inc. for $330 million.

Action: acquisition
Counterparty: S Legacy Holdco, Inc.
Consideration: $330 million

Exact text from the filing

of Seller, pursuant to which Flywire acquired all of the issued and outstanding limited liability company interests of Sertifi LLC (“Sertifi”) for upfront cash consideration of $330 million, subject to certain post-closing adjustments set forth in the Agreement, and contingent consideration of up to $10 million upon the completion or satisfaction of certain

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Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Flywire Corp announced a restructuring with charges of approximately $7-9 million (approximately 10%).

Type: restructuring
Charge: approximately $7-9 million
Headcount: approximately 10%

Exact text from the filing

On February 23, 2025, the board of directors of the Company approved a restructuring plan that is designed to improve operational efficiencies, reduce operating costs and better align the Company’s workforce with current business needs, top strategic priorities and key growth opportunities (collectively, the “Restructuring Plan”). The Restructuring Plan includes reduction of the Company’s workforce by approximately 10%. The Company estimates that it will incur approximately $7-9 million in charges in connection with the Restructuring Plan

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Source: SEC EDGAR

accession 0001193125-25-035188

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