cust.co / Compare / Flywire vs Clearwater Analytics

Flywire vs Clearwater Analytics - NRR head-to-head

Side-by-side Net Revenue Retention comparison sourced from SEC filings and earnings releases. Both compete in Fintech SaaS. Both at Public stage.

Flywire leads by +2pp on latest NRR (110% vs 108%).

NRR over time

94%103%112%120%129% FY-2023FY-2024FY-2025FY2024-Q2FY2025-Q2FY2025-Q4FY2026-Q1 NRR Flywire Clearwater Analytics Flywire - FY-2023: 125% Flywire - FY2024-Q3: 120% Flywire - FY-2024: 114% Flywire - FY2024-Q4: 114% Flywire - FY-2025: 110% Clearwater Analytics - FY2024-Q3: 114% Clearwater Analytics - FY2024-Q4: 116% Clearwater Analytics - FY-2025: 108% Clearwater Analytics - FY2023-Q4: 107% Clearwater Analytics - FY2024-Q2: 110% Clearwater Analytics - FY2025-Q1: 98% Clearwater Analytics - FY2025-Q2: 98% Clearwater Analytics - FY2025-Q3: 108% Clearwater Analytics - FY2025-Q4: 114% Clearwater Analytics - FY2026-Q1: 108%

Flywire hit a higher all-time peak (125% in FY-2023).

Stat-by-stat

Metric Flywire Clearwater Analytics
Latest NRR 110% 108%
All-time peak NRR 125% 116%
All-time low NRR 110% 98%
QoQ change -4pp +0pp
YoY change -15pp +10pp
3-year change - -
Disclosures tracked 5 10

Customer cohorts

MetricFlywireClearwater Analytics
Total customers 5,000 1,400
Over $100K ARR 15 -
Over $1M ARR - 100
Top-10 concentration - -
Average ACV - -
US revenue mix 30% 73.4%

Commercial structure

MetricFlywireClearwater Analytics
Total RPO - -
Current RPO (12mo) - -
Multi-year contracts - -
Avg contract length - -
Subscription rev mix - -
New customers added 200 100

Post-sales motion

MetricFlywireClearwater Analytics
CS team size - -
Customers per CSM - -
Pricing model hybrid hybrid
Renewal cadence annual annual
CSM coverage model - hybrid
Top customer exec - Subi Sethi

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