Flywire Corp. (FLYW) stock plummeted 17.29% in the after-hours trading session on Tuesday, following the company's release of its fourth-quarter 2024 financial results. The fintech company reported revenue of $117.6 million for the quarter, falling short of the consensus analyst estimate of $118.9 million.
While Flywire's adjusted EBITDA of $16.7 million slightly exceeded expectations of $16.5 million, the company's bottom line missed significantly. Flywire reported a GAAP loss per share of $0.12 for the fourth quarter, widely missing the estimated loss of $0.01 per share.
The disappointing revenue performance and larger-than-anticipated loss appear to be the primary drivers behind the stock's after-hours plunge. Investors reacted negatively to Flywire's failure to meet market expectations, punishing the stock in extended trading.
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