In travel, our hospitality solutions, formerly branded Certify, are continuing to grow well. Payment attachment is increasing and more volume is routing through Flywire as we replace legacy gateway processors with our solution.

May 5, 2026 / COO / receipt, needs a key / Rob Orgel, COO | earnings call 2026-05-05 | transcript dad7df1a-e31e-4d2f-8ab4-bc601a8634b6 | chars 14746-14973 | segment 15

We estimate there's still an additional $2.5 billion of payment volume within our existing U.S. hospitality clients alone that we can capture. And we are investing also in an international rollout this year as we see the same fragmented workflows exist in other major travel and hospitality markets.

May 5, 2026 / COO / receipt, needs a key / Rob Orgel, COO | earnings call 2026-05-05 | transcript dad7df1a-e31e-4d2f-8ab4-bc601a8634b6 | chars 15732-16031 | segment 16

In luxury and experiential travel, Q1 was our second largest quarter for ARR signings with 15 deals over $100,000. Car golf and traveling the fairways both left large horizontal processors for Flywire, drawn by operational efficiencies and the ability to replace a separate invoicing tool with a single workflow.

May 5, 2026 / COO / receipt, needs a key / Rob Orgel, COO | earnings call 2026-05-05 | transcript dad7df1a-e31e-4d2f-8ab4-bc601a8634b6 | chars 16032-16344 | segment 16

Moving on to travel, our travel vertical grew organically more than 50% in 2024, becoming our second largest making up 13% of total revenue, up from 7% two years ago.

Feb 25, 2025 / receipt, needs a key / Rob Orgel, President and COO | earnings call 2025-02-25 | transcript 2b4a2346-9bff-4629-a386-b42855ccba21 | chars 13172-13338 | segment 13

We entered Indonesia and Chile and are well positioned for continued expansion within core travel segments.

Feb 25, 2025 / receipt, needs a key / Rob Orgel, President and COO | earnings call 2025-02-25 | transcript 2b4a2346-9bff-4629-a386-b42855ccba21 | chars 13683-13790 | segment 13

We have added more than 200 clients across all four core verticals, with new clients in the travel vertical modestly outnumbering those added in education.

Nov 7, 2024 / COO / receipt, needs a key / Rob Orgel, COO | earnings call 2024-11-07 | transcript 528e52e3-17c7-47d8-9b2c-8b35e3bdf77a | chars 11035-11190 | segment 11

Now, moving on to our second largest vertical in terms of revenue less ancillary services. Travel with an estimated TAM of $530 billion grew over 55% year over year for the first half of the year with APAC travel outperforming, growing over 75% year-over-year for the first half of the year.

Aug 6, 2024 / receipt, needs a key / Rob Orgel, President and COO | earnings call 2024-08-06 | transcript 15664588-a1d0-45b6-97a2-03688959d1db | chars 18213-18504 | segment 18

In terms of expanding into new geography, we went live with Cruce Andino, one of South America's oldest travel companies, providing travelers with sailing experiences among the lakes and ancient trade routes of the Andes Mountains, and our first-ever travel client in Chile.

May 7, 2024 / receipt, needs a key / Rob Orgel, President and COO | earnings call 2024-05-07 | transcript 34f5f20f-7943-40a8-a42b-50f22d4d1bde | chars 13416-13690 | segment 13

Our team is excited to work with new clients and our partners to deepen our local expertise in this corner of the global travel market.

May 7, 2024 / receipt, needs a key / Rob Orgel, President and COO | earnings call 2024-05-07 | transcript 34f5f20f-7943-40a8-a42b-50f22d4d1bde | chars 13852-13987 | segment 14