Gross Retention excludes expansion - it shows pure churn / contraction loss. The gap between NRR and GRR is the expansion lift.
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 · Two-year institutions · Four-year institutions
Education programs: Fusion Conference
Named CS initiatives across recent disclosures (newest first).
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, processes"
Using AI to increase throughput of customer onboarding without linear headcount increases.
"We are also seeing faster onboarding thanks to AI-assisted implementations that increase throughput"
Consolidating platforms into a unified modular architecture where core services like payments and FX are shared.
"We are consolidating our platforms into a unified modular architecture, where core services... are shared"
Introducing new AI-powered features to the invoice-to-cash platform to amplify automation.
"shortly be introducing new AI-powered features that amplify the power of the platform for our clients"
Software platform helping institutions recover past due tuition and preserve enrollments.
"Our collection management solution within SFS has helped institutions recover more than $360 million in past due tuition"
Offering for U.K. universities to handle U.S. federal loan disbursements.
"Seven new U.K. clients signed this quarter, bringing the total to 15 since launch."
Evolution to launch the student financial services offering as a broader software-as-a-service education platform.
"Our evolution to launch the student financial services offering as a broader software-as-a-service education platform"
Implementation of a hybrid AI support model that resolves 40% of payer inquiries automatically.
"our hybrid AI support model resolves 40% of payer inquiries automatically"
Challenges acknowledged by management. Useful peer signals - your team is probably not alone.
Broader Canadian education market remains under pressure due to visa/macro headwinds.
"In Canada, where the broader market remains under pressure, our revenue has turned positive"
Prudent assumptions regarding visa declines in US (30%) and Canada (10%).
"For U.S., we've assumed visas down 30%, which is, you know, quite prudent"
Prudent assumptions for declining visa volumes in the US and Canada impacting education revenue.
"modeled U.S. first-year visas down approximately 30%, Canada down 10%"
U.S. policy uncertainty and visa fee increases in Australia/Canada impacting student flows.
"Macro-related headwinds are expected to persist, driven mainly by U.S. policy uncertainty"
Weak demand from Indian students impacting Canadian higher education revenue.
"Canada higher education headwinds shaved two points of growth due to continued weak demand."
Modest decline in visa approval rates and widespread processing delays in key APAC markets like China.
"modest decline in visa approval rates compared to last year, along with more widespread processing delays"
Curated quotes about customer outcomes, retention, renewals.
"The growth algorithm hasn't really changed, right? You're always looking at NRR. You're adding on top of NRR."
"Our strategy... is to get more deeply integrated with the clients with the objective of moving all the money."
"Our sales, client success, and operations teams executed at a high level, keeping us on track to exceed our ARR contract signing goals."
"Our deeper integrations with China's UnionPay, Indian loan providers, and agent networks are enhancing retention and engagement."
"We embed deeply into mission-critical financial workflows... and expand over time as clients turn to us for more."
"Revenue churn across our core verticals remains below 1%, reflecting the strength of our integrations."
Side-by-side NRR, customer cohorts, commercial structure, and CS motion.
Flywire appears on 1 of our retention leaderboards.
Free to embed on your blog or board deck. Includes a small backlink to cust.co.
Or grab the data: JSON API →
Generate a live retention report against Flywire and your full peer cell. Ungated. Downloadable as PDF.