vs
Side-by-side financial comparison of Flywire Corp (FLYW) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.
INDEPENDENCE REALTY TRUST, INC. is the larger business by last-quarter revenue ($165.3M vs $157.5M, roughly 1.0× Flywire Corp). On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 2.5%). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 2.2%).
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.
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
FLYW vs IRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $165.3M |
| Net Profit | $33.0K | — |
| Gross Margin | — | — |
| Operating Margin | -0.6% | — |
| Net Margin | 0.0% | — |
| Revenue YoY | 34.0% | 2.5% |
| Net Profit YoY | 100.2% | — |
| EPS (diluted) | $0.01 | $0.00 |
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 | — | $165.3M | ||
| Q4 25 | $157.5M | $167.1M | ||
| Q3 25 | $200.1M | $167.1M | ||
| Q2 25 | $131.9M | $162.2M | ||
| Q1 25 | $133.5M | $161.2M | ||
| Q4 24 | $117.5M | $161.0M | ||
| Q3 24 | $156.8M | $160.1M | ||
| Q2 24 | $103.7M | $158.4M |
| Q1 26 | — | — | ||
| Q4 25 | $33.0K | $33.3M | ||
| Q3 25 | $29.6M | $6.9M | ||
| Q2 25 | $-12.0M | $8.0M | ||
| Q1 25 | $-4.2M | $8.4M | ||
| Q4 24 | $-15.9M | $-1.0M | ||
| Q3 24 | $38.9M | $12.4M | ||
| Q2 24 | $-13.9M | $10.4M |
| Q1 26 | — | — | ||
| Q4 25 | -0.6% | — | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | -6.8% | — | ||
| Q1 25 | -8.2% | — | ||
| Q4 24 | -4.9% | — | ||
| Q3 24 | 12.9% | — | ||
| Q2 24 | -15.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 19.9% | ||
| Q3 25 | 14.8% | 4.1% | ||
| Q2 25 | -9.1% | 5.0% | ||
| Q1 25 | -3.1% | 5.2% | ||
| Q4 24 | -13.5% | -0.6% | ||
| Q3 24 | 24.8% | 7.7% | ||
| Q2 24 | -13.4% | 6.5% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | $0.01 | $0.14 | ||
| Q3 25 | $0.23 | $0.03 | ||
| Q2 25 | $-0.10 | $0.03 | ||
| Q1 25 | $-0.03 | $0.04 | ||
| Q4 24 | $-0.12 | $-0.01 | ||
| Q3 24 | $0.30 | $0.05 | ||
| Q2 24 | $-0.11 | $0.05 |
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 | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $835.2M | $3.4B |
| Total Assets | $1.3B | $6.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.3M | ||
| Q4 25 | $355.0M | $23.6M | ||
| Q3 25 | $377.3M | $23.3M | ||
| Q2 25 | $274.2M | $19.5M | ||
| Q1 25 | $255.3M | $29.1M | ||
| Q4 24 | $611.1M | $21.2M | ||
| Q3 24 | $681.1M | $17.6M | ||
| Q2 24 | $571.0M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | $15.0M | $2.3B | ||
| Q2 25 | $60.0M | $2.2B | ||
| Q1 25 | $60.0M | $2.3B | ||
| Q4 24 | $0 | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $835.2M | $3.5B | ||
| Q3 25 | $829.1M | $3.5B | ||
| Q2 25 | $792.4M | $3.4B | ||
| Q1 25 | $784.3M | $3.5B | ||
| Q4 24 | $814.8M | $3.4B | ||
| Q3 24 | $843.2M | $3.4B | ||
| Q2 24 | $802.6M | $3.4B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | $1.3B | $6.0B | ||
| Q3 25 | $1.3B | $6.1B | ||
| Q2 25 | $1.1B | $6.0B | ||
| Q1 25 | $1.1B | $6.0B | ||
| Q4 24 | $1.1B | $6.1B | ||
| Q3 24 | $1.2B | $5.9B | ||
| Q2 24 | $998.7M | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | 0.02× | 0.66× | ||
| Q2 25 | 0.08× | 0.66× | ||
| Q1 25 | 0.08× | 0.65× | ||
| Q4 24 | 0.00× | 0.68× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.66× |
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 | $282.1M | ||
| Q3 25 | $150.1M | $79.3M | ||
| Q2 25 | $24.1M | $82.2M | ||
| Q1 25 | $-78.9M | $60.4M | ||
| Q4 24 | $-28.6M | $259.8M | ||
| Q3 24 | $184.6M | $69.2M | ||
| Q2 24 | $-19.3M | $83.0M |
| Q1 26 | — | — | ||
| 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 | — | — | ||
| 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× | 8.48× | ||
| Q3 25 | 5.07× | 11.51× | ||
| Q2 25 | — | 10.22× | ||
| Q1 25 | — | 7.23× | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.75× | 5.60× | ||
| Q2 24 | — | 8.02× |
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% |
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
