Flywire Corp
FLYW · Services-Business Services, NEC · 122.2M shares · +84%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$43M (gross $295K, SBC $44M)
Reference price $16.96 · est. market cap ~$2.1B — last insider sale, 2026-06-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C57gen composite 32pct→57
Notable findings
- Chronic dilutionShare count +84%/yr over 3y (dilution, book value/share -72%)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
- Strong balance sheetStrong balance sheet — $355M cash & investments
- Notable holderHeld by 5 notable fund(s): CITADEL ADVISORS LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
1.8%
Net margin
2.2%
Return on equity
1.6%
Return on assets
1.1%
ROIC
1.1%
Revenue growth (QoQ)
41.0%
Net-income growth
365.4%
Current ratio
1.5×
Free cash flow
$99M
EBITDA
$37M
Tangible book value
$240M
Cash & investments
$355M
Stock comp / revenue
11.5%
Leadership & compensation
| Name | Role | Latest total comp |
|---|---|---|
| Massaro Michael | Chief Executive Officer | — |
| Blanc Patrick | Chief Technology Officer | — |
| Butterfield Peter | General Counsel and CCO | — |
| David KingChief Product Officer & Co | Officer | $4M FY2025 |
| Kansal Mohit | Chief Payments Officer | — |
| King David R. | See Remarks | — |
| Michael MassaroChief Executive Officer | Officer | $9M FY2025 |
| Orgel Rob | President and COO | — |
| Peter ButterfieldGeneral Counsel and | Officer | $2M FY2025 |
| Pitigoi Cosmin | Chief Financial Officer | — |
| Robert OrgelPresident and | Officer | $5M FY2025 |
| Alex Finkelstein | Director | $175K FY2025 |
| Carleigh Jaques | Director | $175K FY2025 |
| Diane Offereins | Director | $175K FY2025 |
| Edwin Santos | Director | $175K FY2025 |
| Gretchen Howard | Director | $175K FY2025 |
| Katziff Christine | Director | — |
| Matthew Harris | Director | $175K FY2025 |
| Phillip Riese | Director | $175K FY2025 |
Officers & directors from SEC filings (Form 4 + DEF 14A proxy); compensation is the latest reported fiscal year.
Insider transactions · last 6 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-30 | King David R. | Option exercise | 5.1K | $3.95 |
| 2026-06-25 | Kansal Mohit | Sell | 3.6K | $16.96 |
| 2026-06-15 | Butterfield Peter | Sell | 6.5K | $15.08 |
| 2026-06-15 | Kansal Mohit | Sell | 55K | $15.15 |
| 2026-06-15 | Massaro Michael | Sell | 50K | $15.26 |
| 2026-06-08 | Santos Edwin J | Sell | 6.5K | $14.12 |
| 2026-06-05 | Butterfield Peter | Sell | 6.2K | $14.40 |
| 2026-06-04 | Santos Edwin J | Sell | 10K | $14.69 |
| 2026-06-02 | Howard Gretchen | Grant | 12K | — |
| 2026-06-02 | Katziff Christine | Grant | 12K | — |
| 2026-06-02 | Harris Matthew C | Grant | 12K | — |
| 2026-06-02 | Santos Edwin J | Grant | 12K | — |
| 2026-06-02 | Riese Phillip John | Option exercise | 5.0K | $0.59 |
| 2026-06-02 | Riese Phillip John | Sell | 4.8K | $15.39 |
| 2026-06-02 | Riese Phillip John | Sell | 200 | $16.18 |
| 2026-06-02 | Riese Phillip John | Grant | 12K | — |
| 2026-06-02 | Finkelstein Alex | Grant | 12K | — |
| 2026-06-02 | Jaques Carleigh | Grant | 12K | — |
| 2026-06-02 | Offereins Diane E | Grant | 12K | — |
| 2026-06-01 | King David R. | Tax withheld | 16K | $16.61 |
| 2026-06-01 | Massaro Michael | Tax withheld | 40K | $16.61 |
| 2026-06-01 | Kansal Mohit | Tax withheld | 9.9K | $16.61 |
| 2026-06-01 | Orgel Rob | Sell | 179K | $17.00 |
| 2026-06-01 | Orgel Rob | Tax withheld | 22K | $16.61 |
| 2026-06-01 | Pitigoi Cosmin | Tax withheld | 19K | $16.61 |
| 2026-06-01 | Butterfield Peter | Tax withheld | 7.3K | $16.61 |
| 2026-05-07 | Butterfield Peter | Sell | 1.5K | $18.02 |
| 2026-05-06 | Riese Phillip John | Option exercise | 38K | $0.59 |
| 2026-05-06 | Massaro Michael | Sell | 12K | $15.65 |
| 2026-05-06 | Massaro Michael | Sell | 38K | $16.62 |
| 2026-05-06 | Riese Phillip John | Sell | 5.3K | $15.54 |
| 2026-05-06 | Riese Phillip John | Sell | 18K | $16.73 |
| 2026-05-06 | Riese Phillip John | Sell | 15K | $17.50 |
| 2026-05-06 | Pitigoi Cosmin | Sell | 35K | $17.38 |
| 2026-05-06 | Kansal Mohit | Sell | 16K | $15.90 |
| 2026-04-21 | Pitigoi Cosmin | Sell | 30K | $14.00 |
| 2026-03-31 | King David R. | Option exercise | 8.0K | $3.95 |
| 2026-03-30 | Butterfield Peter | Option exercise | 140K | $0.59 |
| 2026-03-25 | Katziff Christine | Grant | 28K | — |
| 2026-03-16 | Massaro Michael | Option exercise | 14K | $3.95 |
| 2026-03-05 | Butterfield Peter | Sell | 9.0K | $13.05 |
| 2026-03-02 | Orgel Rob | Tax withheld | 65K | $12.43 |
| 2026-03-02 | Butterfield Peter | Tax withheld | 14K | $12.43 |
| 2026-03-02 | Kansal Mohit | Tax withheld | 20K | — |
| 2026-03-02 | Massaro Michael | Sell | 150K | $12.31 |
| 2026-03-02 | Massaro Michael | Tax withheld | 105K | $12.43 |
| 2026-03-02 | Pitigoi Cosmin | Tax withheld | 40K | $12.43 |
| 2026-03-02 | King David R. | Tax withheld | 35K | $12.43 |
| 2026-02-24 | King David R. | Grant | 245K | — |
| 2026-02-24 | Massaro Michael | Grant | 752K | — |
| 2026-02-24 | Orgel Rob | Grant | 362K | — |
| 2026-02-24 | Butterfield Peter | Grant | 181K | — |
| 2026-02-24 | Pitigoi Cosmin | Grant | 362K | — |
| 2026-02-23 | Blanc Patrick | Grant | 234K | — |
| 2026-02-13 | Voss Capital, LP | Buy | 25K | $10.99 |
| 2026-01-07 | Butterfield Peter | Sell | 13K | $15.01 |
| 2026-01-07 | Riese Phillip John | Option exercise | 17K | $0.59 |
| 2026-01-07 | Riese Phillip John | Sell | 17K | $15.08 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-05 | Shareholder vote | filing ↗ |
| 2026-05-15 | Reg FDOtherExhibits | filing ↗ |
| 2026-05-05 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-26 | Exec/director changeReg FDExhibits | filing ↗ |
| 2026-02-24 | ResultsReg FDOtherExhibits | filing ↗ |
| 2026-01-14 | Exec/director change | filing ↗ |
| 2025-11-04 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-05 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-05 | 2026-06-02 | 0001580560-26-000009 ↗ |
| 8-K | 2026-05-15 | 2026-05-15 | 0001580560-26-000007 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001580560-26-000005 ↗ |
| 8-K | 2026-05-05 | 2026-05-05 | 0001580560-26-000003 ↗ |
| DEF 14A | 2026-04-23 | 2026-06-02 | 0001193125-26-173788 ↗ |
| 8-K | 2026-03-26 | 2026-03-25 | 0001193125-26-125260 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001193125-26-067540 ↗ |
| 8-K | 2026-02-24 | 2026-02-23 | 0001193125-26-067020 ↗ |
| 8-K | 2026-01-14 | 2026-01-13 | 0001193125-26-013060 ↗ |
| 10-Q | 2025-11-10 | 2025-09-30 | 0001193125-25-274358 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001193125-25-264983 ↗ |
| 10-Q | 2025-08-06 | 2025-06-30 | 0000950170-25-104179 ↗ |