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Side-by-side financial comparison of Flywire Corp (FLYW) and INSTEEL INDUSTRIES INC (IIIN). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $157.5M, roughly 1.0× Flywire Corp). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs 0.0%, a 4.7% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 23.3%). Flywire Corp produced more free cash flow last quarter ($4.5M vs $-2.2M). 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.
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
FLYW vs IIIN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $159.9M |
| Net Profit | $33.0K | $7.6M |
| Gross Margin | — | 11.3% |
| Operating Margin | -0.6% | 6.0% |
| Net Margin | 0.0% | 4.7% |
| Revenue YoY | 34.0% | 23.3% |
| Net Profit YoY | 100.2% | 602.4% |
| EPS (diluted) | $0.01 | $0.39 |
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 | $159.9M | ||
| Q3 25 | $200.1M | $177.4M | ||
| Q2 25 | $131.9M | $179.9M | ||
| Q1 25 | $133.5M | $160.7M | ||
| Q4 24 | $117.5M | $129.7M | ||
| Q3 24 | $156.8M | $134.3M | ||
| Q2 24 | $103.7M | $145.8M | ||
| Q1 24 | $114.1M | $127.4M |
| Q4 25 | $33.0K | $7.6M | ||
| Q3 25 | $29.6M | $14.6M | ||
| Q2 25 | $-12.0M | $15.2M | ||
| Q1 25 | $-4.2M | $10.2M | ||
| Q4 24 | $-15.9M | $1.1M | ||
| Q3 24 | $38.9M | $4.7M | ||
| Q2 24 | $-13.9M | $6.6M | ||
| Q1 24 | $-6.2M | $6.9M |
| Q4 25 | — | 11.3% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | — | 15.3% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 10.6% | ||
| Q1 24 | — | 12.3% |
| Q4 25 | -0.6% | 6.0% | ||
| Q3 25 | 16.1% | 10.8% | ||
| Q2 25 | -6.8% | 11.0% | ||
| Q1 25 | -8.2% | 8.3% | ||
| Q4 24 | -4.9% | 1.1% | ||
| Q3 24 | 12.9% | 4.5% | ||
| Q2 24 | -15.2% | 6.0% | ||
| Q1 24 | -5.2% | 7.0% |
| Q4 25 | 0.0% | 4.7% | ||
| Q3 25 | 14.8% | 8.2% | ||
| Q2 25 | -9.1% | 8.4% | ||
| Q1 25 | -3.1% | 6.4% | ||
| Q4 24 | -13.5% | 0.8% | ||
| Q3 24 | 24.8% | 3.5% | ||
| Q2 24 | -13.4% | 4.5% | ||
| Q1 24 | -5.4% | 5.4% |
| Q4 25 | $0.01 | $0.39 | ||
| Q3 25 | $0.23 | $0.74 | ||
| Q2 25 | $-0.10 | $0.78 | ||
| Q1 25 | $-0.03 | $0.52 | ||
| Q4 24 | $-0.12 | $0.06 | ||
| Q3 24 | $0.30 | $0.24 | ||
| Q2 24 | $-0.11 | $0.34 | ||
| Q1 24 | $-0.05 | $0.35 |
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 | $15.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $835.2M | $358.8M |
| Total Assets | $1.3B | $456.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.0M | $15.6M | ||
| Q3 25 | $377.3M | $38.6M | ||
| Q2 25 | $274.2M | $53.7M | ||
| Q1 25 | $255.3M | $28.4M | ||
| Q4 24 | $611.1M | $36.0M | ||
| Q3 24 | $681.1M | $111.5M | ||
| Q2 24 | $571.0M | $97.7M | ||
| Q1 24 | $619.0M | $83.9M |
| Q4 25 | — | — | ||
| Q3 25 | $15.0M | — | ||
| Q2 25 | $60.0M | — | ||
| Q1 25 | $60.0M | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $835.2M | $358.8M | ||
| Q3 25 | $829.1M | $371.5M | ||
| Q2 25 | $792.4M | $356.2M | ||
| Q1 25 | $784.3M | $341.4M | ||
| Q4 24 | $814.8M | $331.6M | ||
| Q3 24 | $843.2M | $350.9M | ||
| Q2 24 | $802.6M | $346.0M | ||
| Q1 24 | $-797.0M | $340.6M |
| Q4 25 | $1.3B | $456.1M | ||
| Q3 25 | $1.3B | $462.6M | ||
| Q2 25 | $1.1B | $471.9M | ||
| Q1 25 | $1.1B | $421.9M | ||
| Q4 24 | $1.1B | $404.7M | ||
| Q3 24 | $1.2B | $422.6M | ||
| Q2 24 | $998.7M | $414.6M | ||
| Q1 24 | $998.7M | $397.2M |
| Q4 25 | — | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.08× | — | ||
| Q4 24 | 0.00× | — | ||
| 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 | $-701.0K |
| Free Cash FlowOCF − Capex | $4.5M | $-2.2M |
| FCF MarginFCF / Revenue | 2.9% | -1.4% |
| Capex IntensityCapex / Revenue | 0.2% | 0.9% |
| Cash ConversionOCF / Net Profit | 148.06× | -0.09× |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | $439.0K |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $-701.0K | ||
| Q3 25 | $150.1M | $-17.0M | ||
| Q2 25 | $24.1M | $28.5M | ||
| Q1 25 | $-78.9M | $-3.3M | ||
| Q4 24 | $-28.6M | $19.0M | ||
| Q3 24 | $184.6M | $16.2M | ||
| Q2 24 | $-19.3M | $18.8M | ||
| Q1 24 | $-38.1M | $1.4M |
| Q4 25 | $4.5M | $-2.2M | ||
| Q3 25 | $149.9M | $-18.7M | ||
| Q2 25 | $23.5M | $26.9M | ||
| Q1 25 | $-79.1M | $-5.5M | ||
| Q4 24 | $-28.7M | $16.3M | ||
| Q3 24 | $184.4M | $14.5M | ||
| Q2 24 | $-19.7M | $15.5M | ||
| Q1 24 | $-38.3M | $-580.0K |
| Q4 25 | 2.9% | -1.4% | ||
| Q3 25 | 74.9% | -10.6% | ||
| Q2 25 | 17.8% | 15.0% | ||
| Q1 25 | -59.3% | -3.5% | ||
| Q4 24 | -24.4% | 12.6% | ||
| Q3 24 | 117.6% | 10.8% | ||
| Q2 24 | -19.0% | 10.7% | ||
| Q1 24 | -33.6% | -0.5% |
| Q4 25 | 0.2% | 0.9% | ||
| Q3 25 | 0.1% | 1.0% | ||
| Q2 25 | 0.4% | 0.9% | ||
| Q1 25 | 0.1% | 1.4% | ||
| Q4 24 | 0.1% | 2.1% | ||
| Q3 24 | 0.1% | 1.3% | ||
| Q2 24 | 0.3% | 2.2% | ||
| Q1 24 | 0.2% | 1.5% |
| Q4 25 | 148.06× | -0.09× | ||
| Q3 25 | 5.07× | -1.17× | ||
| Q2 25 | — | 1.88× | ||
| Q1 25 | — | -0.32× | ||
| Q4 24 | — | 17.56× | ||
| Q3 24 | 4.75× | 3.48× | ||
| Q2 24 | — | 2.86× | ||
| Q1 24 | — | 0.20× |
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% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
