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Side-by-side financial comparison of Flywire Corp (FLYW) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
ONESPAWORLD HOLDINGS Ltd is the larger business by last-quarter revenue ($242.1M vs $157.5M, roughly 1.5× Flywire Corp). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs 0.0%, a 5.0% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 11.5%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $4.5M). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 7.1%).
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.
FLYW vs OSW — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $242.1M |
| Net Profit | $33.0K | $12.1M |
| Gross Margin | — | — |
| Operating Margin | -0.6% | 6.8% |
| Net Margin | 0.0% | 5.0% |
| Revenue YoY | 34.0% | 11.5% |
| Net Profit YoY | 100.2% | -16.2% |
| EPS (diluted) | $0.01 | $0.12 |
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 | $242.1M | ||
| Q3 25 | $200.1M | $258.5M | ||
| Q2 25 | $131.9M | $240.7M | ||
| Q1 25 | $133.5M | $219.6M | ||
| Q4 24 | $117.5M | $217.2M | ||
| Q3 24 | $156.8M | $241.7M | ||
| Q2 24 | $103.7M | $224.9M | ||
| Q1 24 | $114.1M | $211.2M |
| Q4 25 | $33.0K | $12.1M | ||
| Q3 25 | $29.6M | $24.3M | ||
| Q2 25 | $-12.0M | $19.9M | ||
| Q1 25 | $-4.2M | $15.3M | ||
| Q4 24 | $-15.9M | $14.4M | ||
| Q3 24 | $38.9M | $21.6M | ||
| Q2 24 | $-13.9M | $15.8M | ||
| Q1 24 | $-6.2M | $21.2M |
| Q4 25 | -0.6% | 6.8% | ||
| Q3 25 | 16.1% | 10.2% | ||
| Q2 25 | -6.8% | 9.2% | ||
| Q1 25 | -8.2% | 7.7% | ||
| Q4 24 | -4.9% | 7.9% | ||
| Q3 24 | 12.9% | 10.3% | ||
| Q2 24 | -15.2% | 8.4% | ||
| Q1 24 | -5.2% | 8.0% |
| Q4 25 | 0.0% | 5.0% | ||
| Q3 25 | 14.8% | 9.4% | ||
| Q2 25 | -9.1% | 8.3% | ||
| Q1 25 | -3.1% | 7.0% | ||
| Q4 24 | -13.5% | 6.6% | ||
| Q3 24 | 24.8% | 8.9% | ||
| Q2 24 | -13.4% | 7.0% | ||
| Q1 24 | -5.4% | 10.0% |
| Q4 25 | $0.01 | $0.12 | ||
| Q3 25 | $0.23 | $0.23 | ||
| Q2 25 | $-0.10 | $0.19 | ||
| Q1 25 | $-0.03 | $0.15 | ||
| Q4 24 | $-0.12 | $0.13 | ||
| Q3 24 | $0.30 | $0.20 | ||
| Q2 24 | $-0.11 | $0.15 | ||
| Q1 24 | $-0.05 | $0.21 |
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 | $16.3M |
| Total DebtLower is stronger | — | $84.0M |
| Stockholders' EquityBook value | $835.2M | $542.6M |
| Total Assets | $1.3B | $707.1M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.0M | $16.3M | ||
| Q3 25 | $377.3M | $29.6M | ||
| Q2 25 | $274.2M | $35.0M | ||
| Q1 25 | $255.3M | $22.6M | ||
| Q4 24 | $611.1M | $57.4M | ||
| Q3 24 | $681.1M | $48.8M | ||
| Q2 24 | $571.0M | $62.5M | ||
| Q1 24 | $619.0M | $65.4M |
| Q4 25 | — | $84.0M | ||
| Q3 25 | $15.0M | $85.2M | ||
| Q2 25 | $60.0M | $96.2M | ||
| Q1 25 | $60.0M | $97.4M | ||
| Q4 24 | $0 | $98.6M | ||
| Q3 24 | — | $98.7M | ||
| Q2 24 | — | $123.8M | ||
| Q1 24 | — | $138.6M |
| Q4 25 | $835.2M | $542.6M | ||
| Q3 25 | $829.1M | $552.8M | ||
| Q2 25 | $792.4M | $548.3M | ||
| Q1 25 | $784.3M | $530.6M | ||
| Q4 24 | $814.8M | $554.5M | ||
| Q3 24 | $843.2M | $540.1M | ||
| Q2 24 | $802.6M | $532.7M | ||
| Q1 24 | $-797.0M | $515.5M |
| Q4 25 | $1.3B | $707.1M | ||
| Q3 25 | $1.3B | $732.6M | ||
| Q2 25 | $1.1B | $731.8M | ||
| Q1 25 | $1.1B | $708.7M | ||
| Q4 24 | $1.1B | $746.4M | ||
| Q3 24 | $1.2B | $734.0M | ||
| Q2 24 | $998.7M | $756.8M | ||
| Q1 24 | $998.7M | $763.6M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | 0.02× | 0.15× | ||
| Q2 25 | 0.08× | 0.18× | ||
| Q1 25 | 0.08× | 0.18× | ||
| Q4 24 | 0.00× | 0.18× | ||
| Q3 24 | — | 0.18× | ||
| Q2 24 | — | 0.23× | ||
| Q1 24 | — | 0.27× |
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 | $20.0M |
| Free Cash FlowOCF − Capex | $4.5M | $14.9M |
| FCF MarginFCF / Revenue | 2.9% | 6.2% |
| Capex IntensityCapex / Revenue | 0.2% | 2.1% |
| Cash ConversionOCF / Net Profit | 148.06× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $20.0M | ||
| Q3 25 | $150.1M | $33.2M | ||
| Q2 25 | $24.1M | $20.3M | ||
| Q1 25 | $-78.9M | $10.1M | ||
| Q4 24 | $-28.6M | $16.6M | ||
| Q3 24 | $184.6M | $28.6M | ||
| Q2 24 | $-19.3M | $18.7M | ||
| Q1 24 | $-38.1M | $15.0M |
| Q4 25 | $4.5M | $14.9M | ||
| Q3 25 | $149.9M | $27.6M | ||
| Q2 25 | $23.5M | $17.6M | ||
| Q1 25 | $-79.1M | $8.4M | ||
| Q4 24 | $-28.7M | $13.2M | ||
| Q3 24 | $184.4M | $27.5M | ||
| Q2 24 | $-19.7M | $17.6M | ||
| Q1 24 | $-38.3M | $13.7M |
| Q4 25 | 2.9% | 6.2% | ||
| Q3 25 | 74.9% | 10.7% | ||
| Q2 25 | 17.8% | 7.3% | ||
| Q1 25 | -59.3% | 3.8% | ||
| Q4 24 | -24.4% | 6.1% | ||
| Q3 24 | 117.6% | 11.4% | ||
| Q2 24 | -19.0% | 7.8% | ||
| Q1 24 | -33.6% | 6.5% |
| Q4 25 | 0.2% | 2.1% | ||
| Q3 25 | 0.1% | 2.2% | ||
| Q2 25 | 0.4% | 1.1% | ||
| Q1 25 | 0.1% | 0.8% | ||
| Q4 24 | 0.1% | 1.5% | ||
| Q3 24 | 0.1% | 0.5% | ||
| Q2 24 | 0.3% | 0.5% | ||
| Q1 24 | 0.2% | 0.6% |
| Q4 25 | 148.06× | 1.65× | ||
| Q3 25 | 5.07× | 1.36× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | 4.75× | 1.33× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | 0.71× |
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% |
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
