06:50 AM EDT, 05/08/2024 (MT Newswires) -- Flywire ( FLYW ) reported a Q1 net loss Tuesday of $0.05 per diluted share, wider than a loss of $0.03 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.03 per share.

Revenue for the quarter ended March 31 was $114.1 million, up from $94.4 million a year earlier.

Analysts surveyed by Capital IQ expected $107.7 million.

The company now expects full-year 2024 revenue to be from $491 million to $519 million from its previous estimate of $501 to $535 million. Analysts polled by Capital IQ are expecting $493.2 million.

For Q2, the company expects revenue of $99 million to $108 million. Analysts surveyed by Capital IQ expect $102.2 million.

Shares of the company fell 14% in recent Wednesday premarket activity.

Price: 17.65, Change: -2.89, Percent Change: -14.07