Why Flywire Stock Popped Today

·2 min read

Shares of Flywire (NASDAQ: FLYW) were soaring today after the payments platform turned in better-than-expected revenue in its second-quarter earnings report. Flywire, which offers vertical-specific payments to businesses to handle accounts receivables, said that revenue in the quarter grew 53% to $56.5 million, ahead of estimates at $49.1 million. Flywire's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss expanded from $0.1 million to $6.1 million as it invests in technology and marketing, though management still said EBITDA was better than expected.