Peak NRR of 125% in FY-2023. Latest is 110% - that's -15pp from peak.
Flywire is above the Fintech SaaS Public median by +4.5pp (cell median: 106%)
Flywire (FLYW) is a fintech saas company at the public stage. As of its most recent disclosure (FY-2025), Flywire reported a Net Revenue Retention rate of 110% - a mid-pack result for B2B SaaS at this segment.
Flywire's NRR peaked at 125% in FY-2023, 15pp above today's level. The most recent quarter lost 4pp QoQ.
Within its peer set (fintech saas companies at public stage in the $25k-$100k acv band), Flywire's NRR is above the cell median of 106%. Compare against the full peer cell aggregate for distribution and top performers.
Contract shape and forward-booked revenue.
Health scores, usage, and time-to-value when disclosed.
Logo flow per period (count-side complement to dollar-based NRR).
Revenue, ARR, and team-size denominators for the productivity ratios.
CS team segments: Strategic · Enterprise · Mid-Market · SMB
Education programs: Fusion Conference
Computed from the data above. Shows where value comes from and where leakage hides.
Named CS initiatives across recent disclosures (newest first).
Board approved an increase in the aggregate amount of common stock that may be repurchased by an additional $150 million.
"In July 2025, our Board of Directors approved an increase... by an additional $150 million."
Acquisition of a vertical software and payments platform digitizing hospitality-specific workflows.
"In February 2025, we acquired Sertifi, a vertical software and payments platform digitizing hospitality-specific workflows"
Plan designed to improve operational efficiencies, reduce operating costs, and better align workforce with strategic priorities.
"In February 2025, the Company announced a restructuring plan designed to improve operational efficiencies"
Re-architecting operating systems and data for an agentic AI future to lower cost of scale.
"Re-architecting not just our underlying operating systems and data, but also our organization... with an agentic AI"
Expanding hospitality software and payment solutions into Europe and Southeast Asia.
"We are investing also in an international rollout this year as we see the same fragmented workflows exist"
Consolidating platforms into a unified modular architecture where core services are shared across verticals.
"We are consolidating our platforms into a unified modular architecture, where core services like payments, FX, risk"
Introducing new AI-powered features to amplify the power of the invoice-to-cash platform.
"shortly be introducing new AI-powered features that amplify the power of the platform for our clients"
Expanding the SFS platform for billing, payments, and collection management to capture domestic flows.
"institutions continue to consolidate all payments with Flywire to improve collections and protect revenue."
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Operating within an uncertain macroeconomic backdrop.
"Despite the uncertain macroeconomic backdrop, the sustainability of our business model... continued to position us well"
Canadian and Australian government policies capping international student permits reduced payment flows.
"These limitations have resulted in a corresponding reduction in payment flows, which had an adverse effect"
New H-1B visa fees and social media vetting for student visas creating uncertainty and delays.
"U.S. policy shifts have prompted dramatic action to rescind student visas... adding to uncertainty"
Broader market remains under pressure despite Flywire returning to growth.
"In Canada, where the broader market remains under pressure, our revenue has turned positive"
Prudent assumptions for visa declines in US (30%) and Canada (10%) affecting student flows.
"For U.S., we've assumed visas down 30%, which is, you know, quite prudent"
Prudent assumptions for 2026 include US first-year visas down 30% and Canada down 10%.
"We have modeled U.S. first-year visas down approximately 30%, Canada down 10%"
Curated quotes about customer outcomes, retention, renewals.
"Our normal NRR growth algorithm is looking challenged this year... we expect at least NRR to be below that 114% going forward."
"We actively supported our education clients through this period of adjustment, leveraging our unique assets to maximize opportunities."
"Our clients consistently express their appreciation for our solutions, and we are proud to maintain a very low churn rate."
"With strong marketing and sales efficiency in travel and great customer retention, we continue to invest in growing our client base."
"We are relentless operators, builders, and problem solvers who measure success by the value we create for our clients."
"Institutions are increasingly consolidating vendors and seeking more value across the student lifecycle."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Flywire appears on 2 of our retention leaderboards.
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