Which has higher NRR - Flywire or Morningstar?

As of their most recent disclosures, Flywire has higher NRR (110.0% vs 101.0%) - a difference of +9.0pp.

Which had the higher all-time NRR peak?

Morningstar hit 127.0% in FY-2021 versus Flywire's peak of 125.0% in FY-2023.

cust.co / Compare / Flywire vs Morningstar

Flywire vs Morningstar - 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 (FLYW)

110.0%

FY-2025 · Fintech SaaS

Morningstar (MORN)

101.0%

FY-2025 · Fintech SaaS

Flywire leads by +9.0pp on latest NRR (110.0% vs 101.0%).

NRR over time

Morningstar hit a higher all-time peak (127.0% in FY-2021).

Stat-by-stat

Metric	Flywire	Morningstar
Latest NRR	110.0%	101.0%
All-time peak NRR	125.0%	127.0%
All-time low NRR	110.0%	101.0%
QoQ change	-4.0pp	-26.0pp
YoY change	-15.0pp	-
3-year change	-	-
Disclosures tracked	5	2

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