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Business Combinations (Tables) - Cohort Go [Member] | 3 Months Ended
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Mar. 31, 2023
Restructuring Cost and Reserve [Line Items] |
Summary of Purchase Consideration | Pursuant to the terms of the business combination agreement, the Company acquired Cohort Go for estimated total purchase consideration of $33.0 million or $23.1 million, net of cash acquired, which consisted of (in thousands):
Cash consideration, net of cash acquired |  | $ | 17,140 |
Estimated fair value of shares of common stock |  |  | 4,287 |
Estimated fair value of contingent consideration |  |  | 1,695 |
Total purchase consideration, net of cash acquired |  | $ | 23,122 |
Contingent consideration, which totaled up to $1.7 million represented additional payments that Flywire was required to make which was dependent upon Cohort Go's achievement of specific post-acquisition milestones and was subject to exchange rate fluctuation adjustment between the U.S. Dollar and Australian Dollar. During March 2023, the Company made a payment of contingent consideration in the amount of $1.7 million, in the form of cash, based on Cohort Go's successful and timely achievement of the contracted milestones. No additional contingent consideration is due or payable with respect to the Cohort Go acquisition.
Summary of Fair Value Of the Assets Acquired and Liabilities Assumed | The table summarizes the preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed (in thousands):
Cash |  | $ | 9,880 |
Accounts receivable |  |  | 558 |
Funds receivable from payment partners |  |  | 3,767 |
Prepaid expenses and other current assets |  |  | 314 |
Other assets |  |  | 494 |
Goodwill |  |  | 16,197 |
Identifiable intangible assets |  |  | 16,408 |
Total assets acquired |  |  | 47,618 |
Deferred tax liabilities |  |  | 5,012 |
Deferred revenue |  |  | 264 |
Funds payable to clients |  |  | 4,071 |
Accounts payable |  |  | 1,740 |
Accrued expenses and other current liabilities |  |  | 3,529 |
Total liabilities assumed |  |  | 14,616 |
Net assets acquired |  |  | 33,002 |
Less: cash acquired |  |  | 9,880 |
Net assets, less cash acquired |  | $ | 23,122 |
Schedule of Estimated Fair Value of the Identified Intangible Assets | The following table reflects the estimated fair values of the identified intangible assets of Cohort Go and their respective weighted-average estimated amortization periods.
|  | Estimated Fair Values |  |  | Weighted- Average Estimated Amortization Periods |
|  | (in thousands) |  |  | (years) |
Developed technology |  | $ | 5,356 |  |  |  | 7 |
Agent and customer relationships |  |  | 11,052 |  |  |  | 13 |
|  | $ | 16,408 |  |  |  |
Summary of Unaudited Pro Forma Financial Information |
|  | Three Months Ended March 31, 2022 |
|  | Actual |  |  | Pro Forma |
|  | (in thousands) |
Revenue |  | $ | 64,553 |  |  | $ | 70,217 |
Net Loss |  | $ | (10,149 | ) |  | $ | (9,373 | )

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472 + Details
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