We came across one bullish thesis at Flywire Corporation at Valueinvestorsclub.com by beethoven. In this article, we will summarize the bulls’ thesis on FLYW. Shares of Flywire Corporation traded at $14.30 on January 13. According to Yahoo Finance, FLYW’s trailing and forward P/E were 271.80 and 19.08, respectively.

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Flywire is a best-in-class vertical payments and software company focused on digitizing complex and underserved areas of accounts receivable where legacy payment methods persist. Its core strength lies in simplifying cross-border and specialized payments for education, travel and healthcare through superior technology, faster settlement and lower fees, benefiting both institutional and end-user clients.

Founded to solve inefficiencies in international tuition payments, Flywire disrupted incumbents like Convera by offering a modern, lightweight platform that reduces manual processes and improves collection accuracy. Education remains its dominant vertical, accounting for 77% of revenue, where Flywire is the market leader in higher education cross-border payments and is increasingly expanding into domestic campus payments. Smaller but growing verticals include travel, healthcare and a nascent B2B business.

After years of VC-style growth fueled by headcount expansion and high stock-based compensation, the macro pressures of student visa caps exposed inefficiencies, forcing Flywire to pivot toward disciplined execution and margin expansion. The company reduced staff, refocused on profitability and supplemented growth with the acquisition of Sertifi, which significantly increased its travel segment and introduced cross-selling opportunities while reducing the appeal of taking on private equity. Despite the headwinds, Flywire has met or exceeded recent guidance, with healthcare poised to reaccelerate following the addition of a major U.S. hospital system.

Management strength is concentrated in technology and operations, with strong domain expertise underpinning strong customer retention and expansion. Long-term concerns about globalization and student mobility seem more cyclical than structural, as demand shifts geographically rather than disappearing. With improving margins, recurring revenue and conservative guidance, Flywire offers an attractive risk-reward profile, with significant upside from normalized growth and multiple expansion, supported by ongoing execution and potential strategic interest.

Previously, we covered a bullish thesis to PayPal Holdings, Inc. (PYPL) by Sergey in May 2025, which highlighted the company’s transformation through high-margin growth initiatives, AI integration, and expansion of Venmo and BNPL. PYPL stock price has depreciated approximately 14.71% since our coverage. The thesis still stands as long as PayPal continues to run effectively. Beethoven shares a similar outlook, but emphasizes Flywire’s focus on digitizing payments verticals in education, travel and healthcare, with margin expansion and strategic acquisitions to overcome macro headwinds.