Flywire Corp Q3 2023 Earnings Call Transcript

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

Question: Tyler DuPont - BofA Securities, Research Division - Analyst : This is Tyler DuPont on for Jason. Just to start with a more numbers heavy question here. Since the updated guidance, there's a few moving pieces to it. I just want to make sure I'm thinking about this the right way. It looks like revenue left ancillary was lowered by around $2 million at the midpoint on a full year basis. But if you add back the $3.8 million from FX and you subtract out the $1 million from study line, it looks like the guide essentially ticked up by roughly $800,000 or so on an organic constant currency valuation basis. So I guess just first of all, is that the right way to think about it? And secondly, if you can provide any clarity on what you've seen evolving over the past few months from a demand perspective and how that translated into the updated guidance? Any clarity there would be helpful.

Question: Tyler DuPont - BofA Securities, Research Division - Analyst : Okay. Great. That's helpful. And then just to double click on education. I wanted to ask about the domestic payments business within education. I know this is an area of focus, but I'm just curious if you can provide an update on the success of onboarding educational institutions into domestic payments, both within the U.S. and internationally. I know during the prepared remarks, it sounded like there were a few clients that expanded into the service offering in the U.S. Sort of how would you compare that strategy, that land and expand strategy versus international educational institutions? Are there any institutions that are going domestic directly and then going to foreign later? Just sort of how we should be thinking about pricing take rate dynamics, anything there?