Flywire (FLYW) Research & Development (2020 - 2026)
Flywire (FLYW) recorded Research & Development of $18.39 million in Q2 2026, up 7.5% from $17.11 million a year earlier but down 5.4% from the prior quarter.
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Analysis
Flywire (FLYW) Research & Development (2020 - 2026) Analysis & Trends
On a TTM basis, Flywire's Research & Development came in at $74.01 million as of Jun 30, 2026, up 8.7% year-over-year; for FY2025, it was $70.21 million, up 5.4% from FY2024.
- Annual Research & Development has increased for six straight years, with a five-year compound annual growth rate of 23.4% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $66.64 million in FY2024 (+7.4%), $62.03 million in FY2023 (+23.4%), $50.26 million in FY2022 (+60.6%) and $31.3 million in FY2021 (+27.7%).
- Quarterly Research & Development has ranged from $7.75 million in Q3 2021 to $19.43 million in Q1 2026 over the past five years.
- On a year-over-year basis, Research & Development has increased for eight consecutive quarters, with growth averaging 7.6% over the last eight quarters.
- Peak year-over-year performance for Research & Development in the last five years was growth of 90.6% in Q2 2022, against a decline of 1.1% in Q2 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $19.43 million (Q1 2026), $18.54 million (Q4 2025) and $17.65 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | 472.85 Mn |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | 849.00 Mn |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 608.66 Mn |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | - |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | - |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | - |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | - |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | - |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 90.59 Mn |
| 10 | Flywire | 2.10 Bn | 752.23 Mn | - | 18.39 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 18.39 Mn |
| Mar 31, 2026 | 19.43 Mn |
| Dec 31, 2025 | 18.54 Mn |
| Sep 30, 2025 | 17.65 Mn |
| Jun 30, 2025 | 17.11 Mn |
| Mar 31, 2025 | 16.91 Mn |
| Dec 31, 2024 | 17.37 Mn |
| Sep 30, 2024 | 16.70 Mn |
| Jun 30, 2024 | 15.83 Mn |
| Mar 31, 2024 | 16.74 Mn |
| Dec 31, 2023 | 16.90 Mn |
| Sep 30, 2023 | 14.59 Mn |
| Jun 30, 2023 | 16.02 Mn |
| Mar 31, 2023 | 14.52 Mn |
| Dec 31, 2022 | 12.69 Mn |
| Sep 30, 2022 | 13.39 Mn |
| Jun 30, 2022 | 13.20 Mn |
| Mar 31, 2022 | 10.98 Mn |
| Dec 31, 2021 | 9.09 Mn |
| Sep 30, 2021 | 7.75 Mn |
API Access
Flywire Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=FLYW&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "FLYW", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=FLYW&period=max&api_key=YOUR_API_KEY");
const data = await res.json();