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Side-by-side financial comparison of Flywire Corp (FLYW) and BRC Group Holdings, Inc. (RILY). Click either name above to swap in a different company.
BRC Group Holdings, Inc. is the larger business by last-quarter revenue ($188.3M vs $157.5M, roughly 1.2× Flywire Corp). BRC Group Holdings, Inc. runs the higher net margin — 47.9% vs 0.0%, a 47.9% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs -21.9%). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs -15.4%).
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 RILY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $188.3M |
| Net Profit | $33.0K | $90.3M |
| Gross Margin | — | 79.5% |
| Operating Margin | -0.6% | 32.3% |
| Net Margin | 0.0% | 47.9% |
| Revenue YoY | 34.0% | -21.9% |
| Net Profit YoY | 100.2% | 1710.8% |
| EPS (diluted) | $0.01 | $2.78 |
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 | $188.3M | ||
| Q3 25 | $200.1M | $215.3M | ||
| Q2 25 | $131.9M | $188.2M | ||
| Q1 25 | $133.5M | $197.2M | ||
| Q4 24 | $117.5M | $241.0M | ||
| Q3 24 | $156.8M | $225.5M | ||
| Q2 24 | $103.7M | $256.0M | ||
| Q1 24 | $114.1M | $263.4M |
| Q4 25 | $33.0K | $90.3M | ||
| Q3 25 | $29.6M | $91.1M | ||
| Q2 25 | $-12.0M | $139.5M | ||
| Q1 25 | $-4.2M | $-10.0M | ||
| Q4 24 | $-15.9M | $-5.6M | ||
| Q3 24 | $38.9M | $-284.4M | ||
| Q2 24 | $-13.9M | $-433.6M | ||
| Q1 24 | $-6.2M | $-49.2M |
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 83.7% | ||
| Q2 25 | — | 81.3% | ||
| Q1 25 | — | 81.4% | ||
| Q4 24 | — | 79.8% | ||
| Q3 24 | — | 82.1% | ||
| Q2 24 | — | 84.5% | ||
| Q1 24 | — | 85.3% |
| Q4 25 | -0.6% | 32.3% | ||
| Q3 25 | 16.1% | 30.4% | ||
| Q2 25 | -6.8% | 5.7% | ||
| Q1 25 | -8.2% | -31.2% | ||
| Q4 24 | -4.9% | -69.2% | ||
| Q3 24 | 12.9% | -36.4% | ||
| Q2 24 | -15.2% | -90.8% | ||
| Q1 24 | -5.2% | -6.1% |
| Q4 25 | 0.0% | 47.9% | ||
| Q3 25 | 14.8% | 42.3% | ||
| Q2 25 | -9.1% | 74.1% | ||
| Q1 25 | -3.1% | -5.1% | ||
| Q4 24 | -13.5% | -2.3% | ||
| Q3 24 | 24.8% | -126.1% | ||
| Q2 24 | -13.4% | -169.4% | ||
| Q1 24 | -5.4% | -18.7% |
| Q4 25 | $0.01 | $2.78 | ||
| Q3 25 | $0.23 | $2.91 | ||
| Q2 25 | $-0.10 | $4.50 | ||
| Q1 25 | $-0.03 | $-0.39 | ||
| Q4 24 | $-0.12 | $-0.01 | ||
| Q3 24 | $0.30 | $-9.39 | ||
| Q2 24 | $-0.11 | $-14.35 | ||
| Q1 24 | $-0.05 | $-1.71 |
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 | $226.6M |
| Total DebtLower is stronger | — | $1.4B |
| Stockholders' EquityBook value | $835.2M | $-171.5M |
| Total Assets | $1.3B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.0M | $226.6M | ||
| Q3 25 | $377.3M | $184.2M | ||
| Q2 25 | $274.2M | $267.4M | ||
| Q1 25 | $255.3M | $138.3M | ||
| Q4 24 | $611.1M | $146.9M | ||
| Q3 24 | $681.1M | $159.2M | ||
| Q2 24 | $571.0M | $236.9M | ||
| Q1 24 | $619.0M | $190.7M |
| Q4 25 | — | $1.4B | ||
| Q3 25 | $15.0M | $1.3B | ||
| Q2 25 | $60.0M | $1.3B | ||
| Q1 25 | $60.0M | $1.4B | ||
| Q4 24 | $0 | $1.5B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $835.2M | $-171.5M | ||
| Q3 25 | $829.1M | $-260.5M | ||
| Q2 25 | $792.4M | $-351.7M | ||
| Q1 25 | $784.3M | $-496.8M | ||
| Q4 24 | $814.8M | $-488.2M | ||
| Q3 24 | $843.2M | $-497.6M | ||
| Q2 24 | $802.6M | $-218.3M | ||
| Q1 24 | $-797.0M | $228.4M |
| Q4 25 | $1.3B | $1.7B | ||
| Q3 25 | $1.3B | $1.7B | ||
| Q2 25 | $1.1B | $1.5B | ||
| Q1 25 | $1.1B | $1.5B | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.2B | $2.2B | ||
| Q2 24 | $998.7M | $3.2B | ||
| Q1 24 | $998.7M | $5.0B |
| 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 | $26.2M |
| Free Cash FlowOCF − Capex | $4.5M | — |
| FCF MarginFCF / Revenue | 2.9% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 148.06× | 0.29× |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $26.2M | ||
| Q3 25 | $150.1M | $-60.6M | ||
| Q2 25 | $24.1M | $-25.6M | ||
| Q1 25 | $-78.9M | $184.0K | ||
| Q4 24 | $-28.6M | $-2.7M | ||
| Q3 24 | $184.6M | $19.5M | ||
| Q2 24 | $-19.3M | $111.5M | ||
| Q1 24 | $-38.1M | $135.4M |
| 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 24 | $-38.3M | — |
| 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 24 | -33.6% | — |
| 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 24 | 0.2% | — |
| Q4 25 | 148.06× | 0.29× | ||
| Q3 25 | 5.07× | -0.66× | ||
| Q2 25 | — | -0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.75× | — | ||
| 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% |
RILY
| Transferred At Point In Time | $101.4M | 54% |
| Wealth Management Segment | $30.7M | 16% |
| Corporate Finance Consulting And Investment Banking Fees | $27.1M | 14% |
| Services And Fees | $24.8M | 13% |
| Commissions Fees And Reimbursed Expenses | $4.8M | 3% |
