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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Flywire Corp (FLYW). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $157.5M, roughly 1.3× Flywire Corp). Bandwidth Inc. runs the higher net margin — 1.9% vs 0.0%, a 1.9% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 20.1%). Flywire Corp produced more free cash flow last quarter ($4.5M vs $-1.0M). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 9.7%).
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
Flywire Corp is a global payment and receivables solutions provider serving core verticals including education, healthcare, travel, and B2B commerce. It offers secure cross-border payment processing, currency conversion, and workflow tools for organizations and payers worldwide.
BAND vs FLYW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $157.5M |
| Net Profit | $4.0M | $33.0K |
| Gross Margin | 37.3% | — |
| Operating Margin | 60.5% | -0.6% |
| Net Margin | 1.9% | 0.0% |
| Revenue YoY | 20.1% | 34.0% |
| Net Profit YoY | 200.0% | 100.2% |
| EPS (diluted) | $-0.08 | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $208.8M | — | ||
| Q4 25 | $207.7M | $157.5M | ||
| Q3 25 | $191.9M | $200.1M | ||
| Q2 25 | $180.0M | $131.9M | ||
| Q1 25 | $174.2M | $133.5M | ||
| Q4 24 | $210.0M | $117.5M | ||
| Q3 24 | $193.9M | $156.8M | ||
| Q2 24 | $173.6M | $103.7M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $33.0K | ||
| Q3 25 | $-1.2M | $29.6M | ||
| Q2 25 | $-4.9M | $-12.0M | ||
| Q1 25 | $-3.7M | $-4.2M | ||
| Q4 24 | — | $-15.9M | ||
| Q3 24 | $413.0K | $38.9M | ||
| Q2 24 | $4.1M | $-13.9M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | — | ||
| Q3 25 | 38.5% | — | ||
| Q2 25 | 39.8% | — | ||
| Q1 25 | 41.0% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 37.3% | — |
| Q1 26 | 60.5% | — | ||
| Q4 25 | -1.9% | -0.6% | ||
| Q3 25 | -1.0% | 16.1% | ||
| Q2 25 | -2.1% | -6.8% | ||
| Q1 25 | -2.7% | -8.2% | ||
| Q4 24 | -1.3% | -4.9% | ||
| Q3 24 | -0.5% | 12.9% | ||
| Q2 24 | -3.5% | -15.2% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | 0.0% | ||
| Q3 25 | -0.6% | 14.8% | ||
| Q2 25 | -2.7% | -9.1% | ||
| Q1 25 | -2.1% | -3.1% | ||
| Q4 24 | — | -13.5% | ||
| Q3 24 | 0.2% | 24.8% | ||
| Q2 24 | 2.3% | -13.4% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $0.01 | ||
| Q3 25 | $-0.04 | $0.23 | ||
| Q2 25 | $-0.16 | $-0.10 | ||
| Q1 25 | $-0.13 | $-0.03 | ||
| Q4 24 | $0.27 | $-0.12 | ||
| Q3 24 | $0.01 | $0.30 | ||
| Q2 24 | $-0.17 | $-0.11 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.3M | $355.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.7M | $835.2M |
| Total Assets | $984.2M | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $355.0M | ||
| Q3 25 | $80.4M | $377.3M | ||
| Q2 25 | $68.1M | $274.2M | ||
| Q1 25 | $41.7M | $255.3M | ||
| Q4 24 | $83.8M | $611.1M | ||
| Q3 24 | $79.9M | $681.1M | ||
| Q2 24 | $76.4M | $571.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $15.0M | ||
| Q2 25 | — | $60.0M | ||
| Q1 25 | — | $60.0M | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $835.2M | ||
| Q3 25 | $392.7M | $829.1M | ||
| Q2 25 | $384.5M | $792.4M | ||
| Q1 25 | $345.4M | $784.3M | ||
| Q4 24 | $312.5M | $814.8M | ||
| Q3 24 | $336.6M | $843.2M | ||
| Q2 24 | $307.4M | $802.6M |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.0B | $1.3B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $964.4M | $1.1B | ||
| Q4 24 | $989.2M | $1.1B | ||
| Q3 24 | $1.0B | $1.2B | ||
| Q2 24 | $1.0B | $998.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $4.9M |
| Free Cash FlowOCF − Capex | $-1.0M | $4.5M |
| FCF MarginFCF / Revenue | -0.5% | 2.9% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | 148.06× |
| TTM Free Cash FlowTrailing 4 quarters | — | $98.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $4.9M | ||
| Q3 25 | $22.2M | $150.1M | ||
| Q2 25 | $31.7M | $24.1M | ||
| Q1 25 | $-3.1M | $-78.9M | ||
| Q4 24 | $36.5M | $-28.6M | ||
| Q3 24 | $20.5M | $184.6M | ||
| Q2 24 | $24.4M | $-19.3M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $4.5M | ||
| Q3 25 | — | $149.9M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $-79.1M | ||
| Q4 24 | — | $-28.7M | ||
| Q3 24 | — | $184.4M | ||
| Q2 24 | — | $-19.7M |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 74.9% | ||
| Q2 25 | — | 17.8% | ||
| Q1 25 | — | -59.3% | ||
| Q4 24 | — | -24.4% | ||
| Q3 24 | — | 117.6% | ||
| Q2 24 | — | -19.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 148.06× | ||
| Q3 25 | — | 5.07× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 49.55× | 4.75× | ||
| Q2 24 | 6.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
Segment breakdown not available.
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
