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Side-by-side financial comparison of Flywire Corp (FLYW) and Paymentus Holdings, Inc. (PAY). Click either name above to swap in a different company.
Paymentus Holdings, Inc. is the larger business by last-quarter revenue ($330.5M vs $157.5M, roughly 2.1× Flywire Corp). Paymentus Holdings, Inc. runs the higher net margin — 6.3% vs 0.0%, a 6.2% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 28.1%). Paymentus Holdings, Inc. produced more free cash flow last quarter ($45.0M vs $4.5M). Over the past eight quarters, Paymentus Holdings, Inc.'s revenue compounded faster (33.7% CAGR vs 17.5%).
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.
Paymentus Holdings, Inc. is a leading cloud-based bill payment and customer engagement technology provider. It offers integrated digital payment solutions, billing automation tools, and self-service portals for enterprises across utilities, financial services, government, healthcare, and telecommunications segments, primarily operating in the North American market.
FLYW vs PAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $330.5M |
| Net Profit | $33.0K | $20.7M |
| Gross Margin | — | 25.4% |
| Operating Margin | -0.6% | 7.3% |
| Net Margin | 0.0% | 6.3% |
| Revenue YoY | 34.0% | 28.1% |
| Net Profit YoY | 100.2% | 57.2% |
| EPS (diluted) | $0.01 | $0.16 |
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 | $330.5M | ||
| Q3 25 | $200.1M | $310.7M | ||
| Q2 25 | $131.9M | $280.1M | ||
| Q1 25 | $133.5M | $275.2M | ||
| Q4 24 | $117.5M | $257.9M | ||
| Q3 24 | $156.8M | $231.6M | ||
| Q2 24 | $103.7M | $197.4M | ||
| Q1 24 | $114.1M | $184.9M |
| Q4 25 | $33.0K | $20.7M | ||
| Q3 25 | $29.6M | $17.7M | ||
| Q2 25 | $-12.0M | $14.7M | ||
| Q1 25 | $-4.2M | $13.8M | ||
| Q4 24 | $-15.9M | $13.1M | ||
| Q3 24 | $38.9M | $14.4M | ||
| Q2 24 | $-13.9M | $9.4M | ||
| Q1 24 | $-6.2M | $7.2M |
| Q4 25 | — | 25.4% | ||
| Q3 25 | — | 24.1% | ||
| Q2 25 | — | 25.5% | ||
| Q1 25 | — | 24.0% | ||
| Q4 24 | — | 25.6% | ||
| Q3 24 | — | 26.2% | ||
| Q2 24 | — | 29.8% | ||
| Q1 24 | — | 28.5% |
| Q4 25 | -0.6% | 7.3% | ||
| Q3 25 | 16.1% | 6.4% | ||
| Q2 25 | -6.8% | 5.7% | ||
| Q1 25 | -8.2% | 5.7% | ||
| Q4 24 | -4.9% | 5.5% | ||
| Q3 24 | 12.9% | 5.2% | ||
| Q2 24 | -15.2% | 5.2% | ||
| Q1 24 | -5.2% | 4.5% |
| Q4 25 | 0.0% | 6.3% | ||
| Q3 25 | 14.8% | 5.7% | ||
| Q2 25 | -9.1% | 5.3% | ||
| Q1 25 | -3.1% | 5.0% | ||
| Q4 24 | -13.5% | 5.1% | ||
| Q3 24 | 24.8% | 6.2% | ||
| Q2 24 | -13.4% | 4.7% | ||
| Q1 24 | -5.4% | 3.9% |
| Q4 25 | $0.01 | $0.16 | ||
| Q3 25 | $0.23 | $0.14 | ||
| Q2 25 | $-0.10 | $0.11 | ||
| Q1 25 | $-0.03 | $0.11 | ||
| Q4 24 | $-0.12 | $0.11 | ||
| Q3 24 | $0.30 | $0.11 | ||
| Q2 24 | $-0.11 | $0.07 | ||
| Q1 24 | $-0.05 | $0.06 |
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 | $320.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $835.2M | $560.4M |
| Total Assets | $1.3B | $667.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.0M | $320.9M | ||
| Q3 25 | $377.3M | $287.9M | ||
| Q2 25 | $274.2M | $266.4M | ||
| Q1 25 | $255.3M | $245.8M | ||
| Q4 24 | $611.1M | $205.9M | ||
| Q3 24 | $681.1M | $187.5M | ||
| Q2 24 | $571.0M | $188.8M | ||
| Q1 24 | $619.0M | $180.1M |
| 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 | $560.4M | ||
| Q3 25 | $829.1M | $537.4M | ||
| Q2 25 | $792.4M | $516.7M | ||
| Q1 25 | $784.3M | $500.4M | ||
| Q4 24 | $814.8M | $485.6M | ||
| Q3 24 | $843.2M | $468.8M | ||
| Q2 24 | $802.6M | $451.6M | ||
| Q1 24 | $-797.0M | $439.4M |
| Q4 25 | $1.3B | $667.9M | ||
| Q3 25 | $1.3B | $644.4M | ||
| Q2 25 | $1.1B | $609.5M | ||
| Q1 25 | $1.1B | $590.9M | ||
| Q4 24 | $1.1B | $576.2M | ||
| Q3 24 | $1.2B | $552.9M | ||
| Q2 24 | $998.7M | $527.7M | ||
| Q1 24 | $998.7M | $514.0M |
| 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 | $45.1M |
| Free Cash FlowOCF − Capex | $4.5M | $45.0M |
| FCF MarginFCF / Revenue | 2.9% | 13.6% |
| Capex IntensityCapex / Revenue | 0.2% | 0.0% |
| Cash ConversionOCF / Net Profit | 148.06× | 2.18× |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | $161.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $45.1M | ||
| Q3 25 | $150.1M | $35.1M | ||
| Q2 25 | $24.1M | $31.5M | ||
| Q1 25 | $-78.9M | $50.4M | ||
| Q4 24 | $-28.6M | $27.9M | ||
| Q3 24 | $184.6M | $6.7M | ||
| Q2 24 | $-19.3M | $18.0M | ||
| Q1 24 | $-38.1M | $11.0M |
| Q4 25 | $4.5M | $45.0M | ||
| Q3 25 | $149.9M | $35.0M | ||
| Q2 25 | $23.5M | $31.4M | ||
| Q1 25 | $-79.1M | $50.4M | ||
| Q4 24 | $-28.7M | $27.8M | ||
| Q3 24 | $184.4M | $6.7M | ||
| Q2 24 | $-19.7M | $17.8M | ||
| Q1 24 | $-38.3M | $10.8M |
| Q4 25 | 2.9% | 13.6% | ||
| Q3 25 | 74.9% | 11.3% | ||
| Q2 25 | 17.8% | 11.2% | ||
| Q1 25 | -59.3% | 18.3% | ||
| Q4 24 | -24.4% | 10.8% | ||
| Q3 24 | 117.6% | 2.9% | ||
| Q2 24 | -19.0% | 9.0% | ||
| Q1 24 | -33.6% | 5.9% |
| Q4 25 | 0.2% | 0.0% | ||
| Q3 25 | 0.1% | 0.0% | ||
| Q2 25 | 0.4% | 0.0% | ||
| Q1 25 | 0.1% | 0.0% | ||
| Q4 24 | 0.1% | 0.0% | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | 0.3% | 0.1% | ||
| Q1 24 | 0.2% | 0.1% |
| Q4 25 | 148.06× | 2.18× | ||
| Q3 25 | 5.07× | 1.98× | ||
| Q2 25 | — | 2.14× | ||
| Q1 25 | — | 3.65× | ||
| Q4 24 | — | 2.12× | ||
| Q3 24 | 4.75× | 0.47× | ||
| Q2 24 | — | 1.93× | ||
| Q1 24 | — | 1.52× |
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% |
PAY
| Payment Transaction Processing Revenue | $326.9M | 99% |
| Other | $3.5M | 1% |
