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Side-by-side financial comparison of Flywire Corp (FLYW) and H2O AMERICA (HTO). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $157.5M, roughly 1.3× Flywire Corp). H2O AMERICA runs the higher net margin — 8.1% vs 0.0%, a 8.1% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 1.5%). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 15.3%).
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.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
FLYW vs HTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $199.4M |
| Net Profit | $33.0K | $16.2M |
| Gross Margin | — | — |
| Operating Margin | -0.6% | 16.6% |
| Net Margin | 0.0% | 8.1% |
| Revenue YoY | 34.0% | 1.5% |
| Net Profit YoY | 100.2% | -29.2% |
| EPS (diluted) | $0.01 | $0.45 |
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.
| Q4 25 | $157.5M | $199.4M | ||
| Q3 25 | $200.1M | $243.5M | ||
| Q2 25 | $131.9M | $197.8M | ||
| Q1 25 | $133.5M | $164.9M | ||
| Q4 24 | $117.5M | $196.5M | ||
| Q3 24 | $156.8M | $216.7M | ||
| Q2 24 | $103.7M | $173.1M | ||
| Q1 24 | $114.1M | $150.0M |
| Q4 25 | $33.0K | $16.2M | ||
| Q3 25 | $29.6M | $45.1M | ||
| Q2 25 | $-12.0M | $24.7M | ||
| Q1 25 | $-4.2M | $16.6M | ||
| Q4 24 | $-15.9M | $22.9M | ||
| Q3 24 | $38.9M | $38.7M | ||
| Q2 24 | $-13.9M | $20.7M | ||
| Q1 24 | $-6.2M | $11.7M |
| Q4 25 | -0.6% | 16.6% | ||
| Q3 25 | 16.1% | 26.5% | ||
| Q2 25 | -6.8% | 22.2% | ||
| Q1 25 | -8.2% | 21.8% | ||
| Q4 24 | -4.9% | 22.2% | ||
| Q3 24 | 12.9% | 26.9% | ||
| Q2 24 | -15.2% | 23.4% | ||
| Q1 24 | -5.2% | 18.6% |
| Q4 25 | 0.0% | 8.1% | ||
| Q3 25 | 14.8% | 18.5% | ||
| Q2 25 | -9.1% | 12.5% | ||
| Q1 25 | -3.1% | 10.0% | ||
| Q4 24 | -13.5% | 11.7% | ||
| Q3 24 | 24.8% | 17.8% | ||
| Q2 24 | -13.4% | 12.0% | ||
| Q1 24 | -5.4% | 7.8% |
| Q4 25 | $0.01 | $0.45 | ||
| Q3 25 | $0.23 | $1.27 | ||
| Q2 25 | $-0.10 | $0.71 | ||
| Q1 25 | $-0.03 | $0.49 | ||
| Q4 24 | $-0.12 | $0.70 | ||
| Q3 24 | $0.30 | $1.17 | ||
| Q2 24 | $-0.11 | $0.64 | ||
| Q1 24 | $-0.05 | $0.36 |
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 | $20.7M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $835.2M | $1.5B |
| Total Assets | $1.3B | $5.1B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.0M | $20.7M | ||
| Q3 25 | $377.3M | $11.3M | ||
| Q2 25 | $274.2M | $19.8M | ||
| Q1 25 | $255.3M | $23.7M | ||
| Q4 24 | $611.1M | $11.1M | ||
| Q3 24 | $681.1M | $4.0M | ||
| Q2 24 | $571.0M | $22.8M | ||
| Q1 24 | $619.0M | $4.5M |
| Q4 25 | — | $1.9B | ||
| Q3 25 | $15.0M | — | ||
| Q2 25 | $60.0M | — | ||
| Q1 25 | $60.0M | — | ||
| Q4 24 | $0 | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $835.2M | $1.5B | ||
| Q3 25 | $829.1M | $1.5B | ||
| Q2 25 | $792.4M | $1.5B | ||
| Q1 25 | $784.3M | $1.4B | ||
| Q4 24 | $814.8M | $1.4B | ||
| Q3 24 | $843.2M | $1.3B | ||
| Q2 24 | $802.6M | $1.3B | ||
| Q1 24 | $-797.0M | $1.2B |
| Q4 25 | $1.3B | $5.1B | ||
| Q3 25 | $1.3B | $5.0B | ||
| Q2 25 | $1.1B | $4.8B | ||
| Q1 25 | $1.1B | $4.7B | ||
| Q4 24 | $1.1B | $4.7B | ||
| Q3 24 | $1.2B | $4.6B | ||
| Q2 24 | $998.7M | $4.4B | ||
| Q1 24 | $998.7M | $4.4B |
| Q4 25 | — | 1.23× | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.08× | — | ||
| Q4 24 | 0.00× | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $63.5M |
| Free Cash FlowOCF − Capex | $4.5M | — |
| FCF MarginFCF / Revenue | 2.9% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 148.06× | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $63.5M | ||
| Q3 25 | $150.1M | $77.3M | ||
| Q2 25 | $24.1M | $60.8M | ||
| Q1 25 | $-78.9M | $43.2M | ||
| Q4 24 | $-28.6M | $41.5M | ||
| Q3 24 | $184.6M | $53.5M | ||
| Q2 24 | $-19.3M | $49.3M | ||
| Q1 24 | $-38.1M | $51.2M |
| 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 24 | $-38.3M | — |
| 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 24 | -33.6% | — |
| 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 24 | 0.2% | — |
| Q4 25 | 148.06× | 3.92× | ||
| Q3 25 | 5.07× | 1.71× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 4.75× | 1.39× | ||
| Q2 24 | — | 2.38× | ||
| Q1 24 | — | 4.38× |
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% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
