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Side-by-side financial comparison of Flywire Corp (FLYW) and LiveRamp Holdings, Inc. (RAMP). Click either name above to swap in a different company.
LiveRamp Holdings, Inc. is the larger business by last-quarter revenue ($212.2M vs $157.5M, roughly 1.3× Flywire Corp). LiveRamp Holdings, Inc. runs the higher net margin — 18.8% vs 0.0%, a 18.8% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 8.6%). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 11.1%).
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.
LiveRamp Holdings, Inc., is an American SaaS company that offers a data connectivity platform whose services include data onboarding, the transfer of offline data online for marketing purposes.
FLYW vs RAMP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $212.2M |
| Net Profit | $33.0K | $39.9M |
| Gross Margin | — | 71.9% |
| Operating Margin | -0.6% | 18.6% |
| Net Margin | 0.0% | 18.8% |
| Revenue YoY | 34.0% | 8.6% |
| Net Profit YoY | 100.2% | 255.7% |
| EPS (diluted) | $0.01 | $0.62 |
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 | $212.2M | ||
| Q3 25 | $200.1M | $199.8M | ||
| Q2 25 | $131.9M | $194.8M | ||
| Q1 25 | $133.5M | $188.7M | ||
| Q4 24 | $117.5M | $195.4M | ||
| Q3 24 | $156.8M | $185.5M | ||
| Q2 24 | $103.7M | $176.0M | ||
| Q1 24 | $114.1M | $171.9M |
| Q4 25 | $33.0K | $39.9M | ||
| Q3 25 | $29.6M | $27.4M | ||
| Q2 25 | $-12.0M | $7.7M | ||
| Q1 25 | $-4.2M | $-6.3M | ||
| Q4 24 | $-15.9M | $11.2M | ||
| Q3 24 | $38.9M | $1.7M | ||
| Q2 24 | $-13.9M | $-7.5M | ||
| Q1 24 | $-6.2M | $-5.4M |
| Q4 25 | — | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.4% | ||
| Q2 24 | — | 70.6% | ||
| Q1 24 | — | 72.2% |
| Q4 25 | -0.6% | 18.6% | ||
| Q3 25 | 16.1% | 10.7% | ||
| Q2 25 | -6.8% | 3.7% | ||
| Q1 25 | -8.2% | -6.1% | ||
| Q4 24 | -4.9% | 7.5% | ||
| Q3 24 | 12.9% | 4.0% | ||
| Q2 24 | -15.2% | -3.0% | ||
| Q1 24 | -5.2% | -8.3% |
| Q4 25 | 0.0% | 18.8% | ||
| Q3 25 | 14.8% | 13.7% | ||
| Q2 25 | -9.1% | 4.0% | ||
| Q1 25 | -3.1% | -3.3% | ||
| Q4 24 | -13.5% | 5.7% | ||
| Q3 24 | 24.8% | 0.9% | ||
| Q2 24 | -13.4% | -4.3% | ||
| Q1 24 | -5.4% | -3.1% |
| Q4 25 | $0.01 | $0.62 | ||
| Q3 25 | $0.23 | $0.42 | ||
| Q2 25 | $-0.10 | $0.12 | ||
| Q1 25 | $-0.03 | $-0.10 | ||
| Q4 24 | $-0.12 | $0.17 | ||
| Q3 24 | $0.30 | $0.03 | ||
| Q2 24 | $-0.11 | $-0.11 | ||
| Q1 24 | $-0.05 | $-0.09 |
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 | $403.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $835.2M | $962.3M |
| Total Assets | $1.3B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.0M | $403.4M | ||
| Q3 25 | $377.3M | $376.9M | ||
| Q2 25 | $274.2M | $371.1M | ||
| Q1 25 | $255.3M | $420.8M | ||
| Q4 24 | $611.1M | $384.3M | ||
| Q3 24 | $681.1M | $348.4M | ||
| Q2 24 | $571.0M | $342.7M | ||
| Q1 24 | $619.0M | $368.9M |
| 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 | $962.3M | ||
| Q3 25 | $829.1M | $943.8M | ||
| Q2 25 | $792.4M | $947.8M | ||
| Q1 25 | $784.3M | $948.9M | ||
| Q4 24 | $814.8M | $957.7M | ||
| Q3 24 | $843.2M | $932.1M | ||
| Q2 24 | $802.6M | $951.9M | ||
| Q1 24 | $-797.0M | $949.1M |
| Q4 25 | $1.3B | $1.3B | ||
| Q3 25 | $1.3B | $1.2B | ||
| Q2 25 | $1.1B | $1.2B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.2B | $1.2B | ||
| Q2 24 | $998.7M | $1.2B | ||
| Q1 24 | $998.7M | $1.2B |
| 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 | — |
| Free Cash FlowOCF − Capex | $4.5M | — |
| FCF MarginFCF / Revenue | 2.9% | — |
| Capex IntensityCapex / Revenue | 0.2% | 0.1% |
| Cash ConversionOCF / Net Profit | 148.06× | — |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | — | ||
| Q3 25 | $150.1M | $57.4M | ||
| Q2 25 | $24.1M | $-15.8M | ||
| Q1 25 | $-78.9M | — | ||
| Q4 24 | $-28.6M | $45.1M | ||
| Q3 24 | $184.6M | $55.6M | ||
| Q2 24 | $-19.3M | $-9.3M | ||
| Q1 24 | $-38.1M | — |
| Q4 25 | $4.5M | — | ||
| Q3 25 | $149.9M | $56.8M | ||
| Q2 25 | $23.5M | $-16.2M | ||
| Q1 25 | $-79.1M | — | ||
| Q4 24 | $-28.7M | $44.8M | ||
| Q3 24 | $184.4M | $55.4M | ||
| Q2 24 | $-19.7M | $-9.6M | ||
| Q1 24 | $-38.3M | — |
| Q4 25 | 2.9% | — | ||
| Q3 25 | 74.9% | 28.4% | ||
| Q2 25 | 17.8% | -8.3% | ||
| Q1 25 | -59.3% | — | ||
| Q4 24 | -24.4% | 22.9% | ||
| Q3 24 | 117.6% | 29.8% | ||
| Q2 24 | -19.0% | -5.4% | ||
| Q1 24 | -33.6% | — |
| Q4 25 | 0.2% | 0.1% | ||
| Q3 25 | 0.1% | 0.3% | ||
| Q2 25 | 0.4% | 0.2% | ||
| Q1 25 | 0.1% | 0.2% | ||
| Q4 24 | 0.1% | 0.1% | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | 0.3% | 0.1% | ||
| Q1 24 | 0.2% | 1.0% |
| Q4 25 | 148.06× | — | ||
| Q3 25 | 5.07× | 2.09× | ||
| Q2 25 | — | -2.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | 4.75× | 32.10× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
RAMP
Segment breakdown not available.
