Flywire Corp Q1 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Andrew Thomas Bauch - SMBC Nikko Securities America, Inc., Research Division - Analyst : I wanted to drill in on gross margin once again. I know it's been asked before. But hopefully, I could ask it in a different way. I mean, I know you called out verticals and mix being the 2 primary variables on why it was down sequentially quarter-over-quarter. I'm trying to understand, I mean, isolating those 2 variables, should we assume that the vertical element was something in the lines of travel? And if travel outperforms, it may ultimately limit the upside to gross margin? And I guess talking about the payment mix side of the business, I mean, what gives you the confidence that we do see that sequential ramp throughout the remainder of the year, particularly in the second quarter when it's not a particularly strong education quarter?

Question: Andrew Thomas Bauch - SMBC Nikko Securities America, Inc., Research Division - Analyst : No. That's very clear. And then another question on M&A. I mean, I know you guys have your hands full with WPM and converting a lot of that volume into process and integrated solutions. I mean, are there additional opportunities on the horizon, particularly given where we are as far as market valuations go and thinking about how much -- what are the other things you could do in similar verticals that could follow that playbook?

Question: Andrew Thomas Bauch - SMBC Nikko Securities America, Inc., Research Division - Analyst : No. Makes a lot of sense. And looking forward to seeing you guys next week.