vs
Side-by-side financial comparison of Flywire Corp (FLYW) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
VIRTUS INVESTMENT PARTNERS, INC. is the larger business by last-quarter revenue ($199.5M vs $157.5M, roughly 1.3× Flywire Corp). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 3.6% vs 0.0%, a 3.5% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs -4.1%). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs -5.7%).
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.
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
FLYW vs VRTS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $199.5M |
| Net Profit | $33.0K | $7.1M |
| Gross Margin | — | — |
| Operating Margin | -0.6% | 7.7% |
| Net Margin | 0.0% | 3.6% |
| Revenue YoY | 34.0% | -4.1% |
| Net Profit YoY | 100.2% | -78.1% |
| EPS (diluted) | $0.01 | $1.05 |
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.
| Q1 26 | — | $199.5M | ||
| Q4 25 | $157.5M | $208.0M | ||
| Q3 25 | $200.1M | $216.4M | ||
| Q2 25 | $131.9M | $210.5M | ||
| Q1 25 | $133.5M | $217.9M | ||
| Q4 24 | $117.5M | $233.5M | ||
| Q3 24 | $156.8M | $227.0M | ||
| Q2 24 | $103.7M | $224.4M |
| Q1 26 | — | $7.1M | ||
| Q4 25 | $33.0K | $33.9M | ||
| Q3 25 | $29.6M | $31.3M | ||
| Q2 25 | $-12.0M | $42.7M | ||
| Q1 25 | $-4.2M | $28.1M | ||
| Q4 24 | $-15.9M | $39.5M | ||
| Q3 24 | $38.9M | $49.1M | ||
| Q2 24 | $-13.9M | $26.0M |
| Q1 26 | — | 7.7% | ||
| Q4 25 | -0.6% | 19.1% | ||
| Q3 25 | 16.1% | 21.7% | ||
| Q2 25 | -6.8% | 21.5% | ||
| Q1 25 | -8.2% | 16.8% | ||
| Q4 24 | -4.9% | 21.7% | ||
| Q3 24 | 12.9% | 24.3% | ||
| Q2 24 | -15.2% | 19.7% |
| Q1 26 | — | 3.6% | ||
| Q4 25 | 0.0% | 16.3% | ||
| Q3 25 | 14.8% | 14.5% | ||
| Q2 25 | -9.1% | 20.3% | ||
| Q1 25 | -3.1% | 12.9% | ||
| Q4 24 | -13.5% | 16.9% | ||
| Q3 24 | 24.8% | 21.6% | ||
| Q2 24 | -13.4% | 11.6% |
| Q1 26 | — | $1.05 | ||
| Q4 25 | $0.01 | $5.15 | ||
| Q3 25 | $0.23 | $4.65 | ||
| Q2 25 | $-0.10 | $6.12 | ||
| Q1 25 | $-0.03 | $4.05 | ||
| Q4 24 | $-0.12 | $4.65 | ||
| Q3 24 | $0.30 | $5.71 | ||
| Q2 24 | $-0.11 | $2.43 |
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 | $136.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $835.2M | $93.6B |
| Total Assets | $1.3B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $136.6M | ||
| Q4 25 | $355.0M | — | ||
| Q3 25 | $377.3M | — | ||
| Q2 25 | $274.2M | — | ||
| Q1 25 | $255.3M | — | ||
| Q4 24 | $611.1M | — | ||
| Q3 24 | $681.1M | — | ||
| Q2 24 | $571.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $390.0M | ||
| Q3 25 | $15.0M | $390.6M | ||
| Q2 25 | $60.0M | $231.3M | ||
| Q1 25 | $60.0M | $231.7M | ||
| Q4 24 | $0 | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M |
| Q1 26 | — | $93.6B | ||
| Q4 25 | $835.2M | $934.0M | ||
| Q3 25 | $829.1M | $918.7M | ||
| Q2 25 | $792.4M | $896.4M | ||
| Q1 25 | $784.3M | $893.7M | ||
| Q4 24 | $814.8M | $897.5M | ||
| Q3 24 | $843.2M | $889.0M | ||
| Q2 24 | $802.6M | $868.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.3B | $4.3B | ||
| Q3 25 | $1.3B | $3.9B | ||
| Q2 25 | $1.1B | $3.7B | ||
| Q1 25 | $1.1B | $3.7B | ||
| Q4 24 | $1.1B | $4.0B | ||
| Q3 24 | $1.2B | $3.6B | ||
| Q2 24 | $998.7M | $3.6B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.42× | ||
| Q3 25 | 0.02× | 0.43× | ||
| Q2 25 | 0.08× | 0.26× | ||
| Q1 25 | 0.08× | 0.26× | ||
| Q4 24 | 0.00× | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× |
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% | — |
| Cash ConversionOCF / Net Profit | 148.06× | — |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.9M | $-67.2M | ||
| Q3 25 | $150.1M | $108.3M | ||
| Q2 25 | $24.1M | $75.8M | ||
| Q1 25 | $-78.9M | $-3.8M | ||
| Q4 24 | $-28.6M | $1.8M | ||
| Q3 24 | $184.6M | $69.1M | ||
| Q2 24 | $-19.3M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $4.5M | $-74.1M | ||
| Q3 25 | $149.9M | $106.9M | ||
| Q2 25 | $23.5M | $74.2M | ||
| Q1 25 | $-79.1M | $-6.8M | ||
| Q4 24 | $-28.7M | $-3.8M | ||
| Q3 24 | $184.4M | $68.7M | ||
| Q2 24 | $-19.7M | $68.6M |
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | -35.6% | ||
| Q3 25 | 74.9% | 49.4% | ||
| Q2 25 | 17.8% | 35.2% | ||
| Q1 25 | -59.3% | -3.1% | ||
| Q4 24 | -24.4% | -1.6% | ||
| Q3 24 | 117.6% | 30.3% | ||
| Q2 24 | -19.0% | 30.6% |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 3.3% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.4% | 0.7% | ||
| Q1 25 | 0.1% | 1.4% | ||
| Q4 24 | 0.1% | 2.4% | ||
| Q3 24 | 0.1% | 0.2% | ||
| Q2 24 | 0.3% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 148.06× | -1.99× | ||
| Q3 25 | 5.07× | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | 4.75× | 1.41× | ||
| Q2 24 | — | 2.69× |
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% |
VRTS
| Investment management fees | $169.1M | 85% |
| Administration and shareholder service fees | $17.3M | 9% |
| Distribution and service fees | $11.6M | 6% |
