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Side-by-side financial comparison of Flywire Corp (FLYW) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $157.5M, roughly 1.3× Flywire Corp). Flywire Corp runs the higher net margin — 0.0% vs -3.1%, a 3.1% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs -6.7%). Flywire Corp produced more free cash flow last quarter ($4.5M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
FLYW vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $207.0M |
| Net Profit | $33.0K | $-6.4M |
| Gross Margin | — | — |
| Operating Margin | -0.6% | 2.2% |
| Net Margin | 0.0% | -3.1% |
| Revenue YoY | 34.0% | -6.7% |
| Net Profit YoY | 100.2% | -531.8% |
| EPS (diluted) | $0.01 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $200.1M | $180.2M | ||
| Q2 25 | $131.9M | $207.4M | ||
| Q1 25 | $133.5M | $211.1M | ||
| Q4 24 | $117.5M | $221.9M | ||
| Q3 24 | $156.8M | $194.0M | ||
| Q2 24 | $103.7M | $172.5M | ||
| Q1 24 | $114.1M | $85.0M |
| Q4 25 | $33.0K | $-6.4M | ||
| Q3 25 | $29.6M | $-76.7M | ||
| Q2 25 | $-12.0M | $-10.1M | ||
| Q1 25 | $-4.2M | $975.0K | ||
| Q4 24 | $-15.9M | $1.5M | ||
| Q3 24 | $38.9M | $-9.3M | ||
| Q2 24 | $-13.9M | $-7.3M | ||
| Q1 24 | $-6.2M | $-2.1M |
| Q4 25 | -0.6% | 2.2% | ||
| Q3 25 | 16.1% | -4.4% | ||
| Q2 25 | -6.8% | 0.3% | ||
| Q1 25 | -8.2% | 5.1% | ||
| Q4 24 | -4.9% | 5.5% | ||
| Q3 24 | 12.9% | -1.9% | ||
| Q2 24 | -15.2% | 0.6% | ||
| Q1 24 | -5.2% | -0.7% |
| Q4 25 | 0.0% | -3.1% | ||
| Q3 25 | 14.8% | -42.6% | ||
| Q2 25 | -9.1% | -4.9% | ||
| Q1 25 | -3.1% | 0.5% | ||
| Q4 24 | -13.5% | 0.7% | ||
| Q3 24 | 24.8% | -4.8% | ||
| Q2 24 | -13.4% | -4.3% | ||
| Q1 24 | -5.4% | -2.4% |
| Q4 25 | $0.01 | $-0.50 | ||
| Q3 25 | $0.23 | $-2.75 | ||
| Q2 25 | $-0.10 | $-0.59 | ||
| Q1 25 | $-0.03 | $-0.21 | ||
| Q4 24 | $-0.12 | $-0.18 | ||
| Q3 24 | $0.30 | $-0.53 | ||
| Q2 24 | $-0.11 | $-0.38 | ||
| Q1 24 | $-0.05 | $-0.07 |
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 | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $835.2M | $-75.8M |
| Total Assets | $1.3B | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.0M | $4.2M | ||
| Q3 25 | $377.3M | $5.5M | ||
| Q2 25 | $274.2M | $4.7M | ||
| Q1 25 | $255.3M | $21.4M | ||
| Q4 24 | $611.1M | $27.6M | ||
| Q3 24 | $681.1M | $28.2M | ||
| Q2 24 | $571.0M | $32.2M | ||
| Q1 24 | $619.0M | $15.4M |
| Q4 25 | — | $354.2M | ||
| Q3 25 | $15.0M | $355.0M | ||
| Q2 25 | $60.0M | $347.4M | ||
| Q1 25 | $60.0M | $348.3M | ||
| Q4 24 | $0 | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M | ||
| Q1 24 | — | $73.5M |
| Q4 25 | $835.2M | $-75.8M | ||
| Q3 25 | $829.1M | $-61.5M | ||
| Q2 25 | $792.4M | $23.0M | ||
| Q1 25 | $784.3M | $40.5M | ||
| Q4 24 | $814.8M | $45.9M | ||
| Q3 24 | $843.2M | $51.4M | ||
| Q2 24 | $802.6M | $68.1M | ||
| Q1 24 | $-797.0M | $68.3M |
| Q4 25 | $1.3B | $884.2M | ||
| Q3 25 | $1.3B | $879.5M | ||
| Q2 25 | $1.1B | $935.7M | ||
| Q1 25 | $1.1B | $956.0M | ||
| Q4 24 | $1.1B | $960.1M | ||
| Q3 24 | $1.2B | $953.5M | ||
| Q2 24 | $998.7M | $945.9M | ||
| Q1 24 | $998.7M | $309.3M |
| Q4 25 | — | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | 0.08× | 15.07× | ||
| Q1 25 | 0.08× | 8.61× | ||
| Q4 24 | 0.00× | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× | ||
| Q1 24 | — | 1.08× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | $4.5M | $-329.0K |
| FCF MarginFCF / Revenue | 2.9% | -0.2% |
| Capex IntensityCapex / Revenue | 0.2% | 6.5% |
| Cash ConversionOCF / Net Profit | 148.06× | — |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $13.1M | ||
| Q3 25 | $150.1M | $5.9M | ||
| Q2 25 | $24.1M | $2.8M | ||
| Q1 25 | $-78.9M | $8.5M | ||
| Q4 24 | $-28.6M | $18.5M | ||
| Q3 24 | $184.6M | $19.1M | ||
| Q2 24 | $-19.3M | $-3.8M | ||
| Q1 24 | $-38.1M | $10.4M |
| Q4 25 | $4.5M | $-329.0K | ||
| Q3 25 | $149.9M | $-6.1M | ||
| Q2 25 | $23.5M | $-15.0M | ||
| Q1 25 | $-79.1M | $-5.8M | ||
| Q4 24 | $-28.7M | $733.0K | ||
| Q3 24 | $184.4M | $287.0K | ||
| Q2 24 | $-19.7M | $-23.0M | ||
| Q1 24 | $-38.3M | $-5.4M |
| Q4 25 | 2.9% | -0.2% | ||
| Q3 25 | 74.9% | -3.4% | ||
| Q2 25 | 17.8% | -7.2% | ||
| Q1 25 | -59.3% | -2.7% | ||
| Q4 24 | -24.4% | 0.3% | ||
| Q3 24 | 117.6% | 0.1% | ||
| Q2 24 | -19.0% | -13.3% | ||
| Q1 24 | -33.6% | -6.4% |
| Q4 25 | 0.2% | 6.5% | ||
| Q3 25 | 0.1% | 6.7% | ||
| Q2 25 | 0.4% | 8.6% | ||
| Q1 25 | 0.1% | 6.8% | ||
| Q4 24 | 0.1% | 8.0% | ||
| Q3 24 | 0.1% | 9.7% | ||
| Q2 24 | 0.3% | 11.1% | ||
| Q1 24 | 0.2% | 18.6% |
| Q4 25 | 148.06× | — | ||
| Q3 25 | 5.07× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 8.76× | ||
| Q4 24 | — | 12.54× | ||
| 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% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
