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Side-by-side financial comparison of Flywire Corp (FLYW) and GRID DYNAMICS HOLDINGS, INC. (GDYN). Click either name above to swap in a different company.
Flywire Corp is the larger business by last-quarter revenue ($157.5M vs $104.1M, roughly 1.5× GRID DYNAMICS HOLDINGS, INC.). Flywire Corp runs the higher net margin — 0.0% vs -1.4%, a 1.4% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 3.7%). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 12.0%).
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.
Escape Dynamics, Inc. was a Colorado-based technology company that operated 2010–2015 focused on bringing to market single-stage-to-orbit reusable electromagnetically powered spaceplanes.
FLYW vs GDYN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $104.1M |
| Net Profit | $33.0K | $-1.5M |
| Gross Margin | — | 34.8% |
| Operating Margin | -0.6% | 61.7% |
| Net Margin | 0.0% | -1.4% |
| Revenue YoY | 34.0% | 3.7% |
| Net Profit YoY | 100.2% | -150.6% |
| EPS (diluted) | $0.01 | $-0.02 |
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 | — | $104.1M | ||
| Q4 25 | $157.5M | $106.2M | ||
| Q3 25 | $200.1M | $104.2M | ||
| Q2 25 | $131.9M | $101.1M | ||
| Q1 25 | $133.5M | $100.4M | ||
| Q4 24 | $117.5M | $100.3M | ||
| Q3 24 | $156.8M | $87.4M | ||
| Q2 24 | $103.7M | $83.0M |
| Q1 26 | — | $-1.5M | ||
| Q4 25 | $33.0K | $306.0K | ||
| Q3 25 | $29.6M | $1.2M | ||
| Q2 25 | $-12.0M | $5.3M | ||
| Q1 25 | $-4.2M | $2.9M | ||
| Q4 24 | $-15.9M | $4.5M | ||
| Q3 24 | $38.9M | $4.3M | ||
| Q2 24 | $-13.9M | $-817.0K |
| Q1 26 | — | 34.8% | ||
| Q4 25 | — | 34.0% | ||
| Q3 25 | — | 33.3% | ||
| Q2 25 | — | 34.1% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 36.9% | ||
| Q3 24 | — | 37.4% | ||
| Q2 24 | — | 35.6% |
| Q1 26 | — | 61.7% | ||
| Q4 25 | -0.6% | 0.5% | ||
| Q3 25 | 16.1% | -0.2% | ||
| Q2 25 | -6.8% | -0.1% | ||
| Q1 25 | -8.2% | -2.0% | ||
| Q4 24 | -4.9% | 1.3% | ||
| Q3 24 | 12.9% | 2.4% | ||
| Q2 24 | -15.2% | 0.0% |
| Q1 26 | — | -1.4% | ||
| Q4 25 | 0.0% | 0.3% | ||
| Q3 25 | 14.8% | 1.1% | ||
| Q2 25 | -9.1% | 5.2% | ||
| Q1 25 | -3.1% | 2.9% | ||
| Q4 24 | -13.5% | 4.5% | ||
| Q3 24 | 24.8% | 4.9% | ||
| Q2 24 | -13.4% | -1.0% |
| Q1 26 | — | $-0.02 | ||
| Q4 25 | $0.01 | $0.01 | ||
| Q3 25 | $0.23 | $0.01 | ||
| Q2 25 | $-0.10 | $0.06 | ||
| Q1 25 | $-0.03 | $0.03 | ||
| Q4 24 | $-0.12 | $0.06 | ||
| Q3 24 | $0.30 | $0.05 | ||
| Q2 24 | $-0.11 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $355.0M | $327.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $835.2M | $530.1M |
| Total Assets | $1.3B | $605.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $327.5M | ||
| Q4 25 | $355.0M | $342.1M | ||
| Q3 25 | $377.3M | $338.6M | ||
| Q2 25 | $274.2M | $336.8M | ||
| Q1 25 | $255.3M | $325.5M | ||
| Q4 24 | $611.1M | $334.7M | ||
| Q3 24 | $681.1M | $231.3M | ||
| Q2 24 | $571.0M | $256.0M |
| 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 | — | $530.1M | ||
| Q4 25 | $835.2M | $542.1M | ||
| Q3 25 | $829.1M | $537.7M | ||
| Q2 25 | $792.4M | $532.2M | ||
| Q1 25 | $784.3M | $517.4M | ||
| Q4 24 | $814.8M | $517.8M | ||
| Q3 24 | $843.2M | $400.2M | ||
| Q2 24 | $802.6M | $388.4M |
| Q1 26 | — | $605.0M | ||
| Q4 25 | $1.3B | $612.9M | ||
| Q3 25 | $1.3B | $613.2M | ||
| Q2 25 | $1.1B | $608.9M | ||
| Q1 25 | $1.1B | $590.9M | ||
| Q4 24 | $1.1B | $592.2M | ||
| Q3 24 | $1.2B | $477.3M | ||
| Q2 24 | $998.7M | $443.6M |
| 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 | $4.5M | — |
| FCF MarginFCF / Revenue | 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 | $4.9M | $9.9M | ||
| Q3 25 | $150.1M | $7.0M | ||
| Q2 25 | $24.1M | $14.4M | ||
| Q1 25 | $-78.9M | $9.4M | ||
| Q4 24 | $-28.6M | $7.1M | ||
| Q3 24 | $184.6M | $9.2M | ||
| Q2 24 | $-19.3M | $10.7M |
| Q1 26 | — | — | ||
| Q4 25 | $4.5M | $6.1M | ||
| Q3 25 | $149.9M | $2.9M | ||
| Q2 25 | $23.5M | $10.2M | ||
| Q1 25 | $-79.1M | $6.0M | ||
| Q4 24 | $-28.7M | $4.4M | ||
| Q3 24 | $184.4M | $5.9M | ||
| Q2 24 | $-19.7M | $8.0M |
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | 5.7% | ||
| Q3 25 | 74.9% | 2.8% | ||
| Q2 25 | 17.8% | 10.1% | ||
| Q1 25 | -59.3% | 6.0% | ||
| Q4 24 | -24.4% | 4.4% | ||
| Q3 24 | 117.6% | 6.8% | ||
| Q2 24 | -19.0% | 9.7% |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 3.6% | ||
| Q3 25 | 0.1% | 3.9% | ||
| Q2 25 | 0.4% | 4.1% | ||
| Q1 25 | 0.1% | 3.3% | ||
| Q4 24 | 0.1% | 2.6% | ||
| Q3 24 | 0.1% | 3.7% | ||
| Q2 24 | 0.3% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | 148.06× | 32.34× | ||
| Q3 25 | 5.07× | 5.92× | ||
| Q2 25 | — | 2.73× | ||
| Q1 25 | — | 3.21× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | 4.75× | 2.15× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
GDYN
Segment breakdown not available.
