Flywire Corporation

On February 25, 2025, after market hours, Flywire released its fourth quarter 2024 financial results, missing consensus estimates, citing “a complex macro environment with significant headwinds” and stating that the Company’s business in the education sector had significantly deteriorated due to worsening permit- and visa-related headwinds, including “double digit declines in student visa issuance in our big four geographic markets,” with “continued visa policy restrictions” anticipated in 2025. The Company further announced a restructuring plan that included a 10% reduction in its workforce. Additionally, the Company reduced its 2025 guidance.

On this news, Flywire’s stock price fell $6.59, or 37.4%, to close at $11.05 per share on February 26, 2025, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the strength and sustainability of Flywire’s revenue growth was overstated; (2) the negative impact that permit- and visa-related restrictions were having and were likely to have on Flywire’s business was understated; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.