Remitly Global

Remitly Global, Inc. engages in the provision of digital financial services for immigrants and their families. The company was foundedug on October 3, 2018 and is headquartered in Seattle, WA.

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Remitly excels in Q4, eyes global expansion and customer trust

Remitly's Q4 2022 performance reflects strong revenue growth, customer acquisition success, and strategic expansion into new markets, positioning the company for continued success.
With a focus on premium customer experience, sustainable growth, and efficiency, Remitly aims to drive top-line growth while moderating expense growth in 2023.
Challenges in managing economic uncertainties, marketing efficiencies, and competitive pricing require careful navigation, but the company's strengths and opportunities offer a solid foundation for future growth.

Remitly excels in Q1 with revenue surge and eyes UAE expansion

Remitly's Q1 performance showcased robust growth in revenue and active customers, driven by marketing efficiencies and technology investments. While facing industry competition and margin challenges, the company sees opportunities in geographic expansion and service diversification for future growth.

Remitly reports stellar Q2 results, eyes sustainable growth opportunities

Remitly's Q2 2023 showcased robust financial performance, with strong revenue growth and active customer expansion.
The company's focus on efficiency improvements and strategic investments bodes well for future growth.
Challenges include competitive pressures, managing investments, and maintaining transaction margins.
Opportunities lie in new market expansions, product introductions, and enhancing customer relationships.

Remitly reports robust Q3 growth and eyes strategic expansion

Remitly's Q3 2023 performance showcased strong revenue growth, increased profitability, and a focus on delivering a frictionless remittance experience to its active customer base.
The company's intentional marketing investments and strategic focus on growth opportunities position it well for 2024, despite short-term challenges in customer acquisition costs.
With a resilient business model, Remitly aims to balance growth and profitability, leveraging partnerships and corridor expansion to drive scale and cost improvements.
Confidence in customer acquisition efficiency, operational excellence, and digital-first approach underpin Remitly's strategy for sustained growth and market competitiveness.

Remitly posts robust Q4 earnings, eyes growth in digital trends

Remitly's Q4 2023 performance reflects strong revenue growth, exceeding EBITDA goals, and a focus on customer satisfaction.
The company's strengths lie in operational efficiency, customer trust-building, and strategic expansion into new markets and products.
Challenges include managing marketing spend for profitability and balancing growth with cost reduction efforts.
Opportunities exist in leveraging digital trends, expanding product offerings, and focusing on sustained growth in existing and new markets.

Remitly reports robust Q1 earnings, eyes growth through customer focus

Remitly delivered strong Q1 results with revenue growth, active customer expansion, and improved EBITDA, reaffirming positive outlooks for 2024.
The company's customer-centric approach, marketing effectiveness, and focus on operational efficiencies position it well for sustained growth.
Challenges include managing seasonality, competitive pressures, and margin improvement, while opportunities lie in revenue growth, corridor expansion, and product enhancements.
Overall, Remitly's performance reflects resilience and strategic focus on customer trust, operational excellence, and sustainable growth in the cross-border payments market.

Remitly posts strong Q2 results, eyes growth through new products

Remitly's Q2 2024 performance reflects robust revenue growth, customer base expansion, and operational improvements, positioning the company for continued success.
Strategic strengths in product diversification, marketing efficiency, and commitment to growth underscore Remitly's competitive edge in the fintech sector.
While facing challenges in leadership transition and market competition, Remitly's focus on opportunities like new product segments and operational enhancements bodes well for future growth.

Remitly reports robust Q3 results, eyes sustained growth and profitability

Remitly's Q3 performance reflects strong growth in key metrics and improved profitability, driven by operational efficiencies and revenue diversification.
The company's strategic focus on customer-centric growth, disciplined cost management, and capital allocation sets a solid foundation for future success.
While facing challenges in managing marketing spend and sustaining growth momentum, Remitly's outlook remains positive with opportunities for continued expansion and profitability.

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Remitly Global, Inc. engages in the provision of digital financial services for immigrants and their families. The company was founded by Matthew B. Oppenheimer and Joshua Hug on October 3, 2018 and is headquartered in Seattle, WA.

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SEATTLE, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a trusted provider of digital financial services that transcend borders, today announced that its management team will present at the 2024 Wells Fargo TMT Summit.

Remitly to Present at the 2024 Wells Fargo TMT Summit

Growth is accelerating for this remittance upstart.

Remitly Global Stock Was Soaring This Week: Here's Why

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These three stocks have dropped over 30% from their 52-week highs. At the same time, analysts expect strong revenue and earnings growth for them soon.

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Shares of the fintech company popped on a strong earnings report.

Why Remitly Global Stock Popped Today

Remitly Global, Inc. (NASDAQ:RELY ) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET Company Participants Stephen Shulstein - Vice President, Investor Relations Matt Oppenheimer - Co-Founder and Chief Executive Officer Vikas Mehta - Chief Financial Officer Conference Call Participants Andrew Schmidt - Citi Andrew Bauch - Wells Fargo Ramsey El-Assal - Barclays Will Nance - Goldman Sachs Tien-Tsin Huang - JPMorgan David Scharf - Citizens JMP Rufus Hone - BMO Capital Markets Cris Kennedy - William Blair Darrin Peller - Wolfe Research Alex Markgraff - KBCM Gus Gala - MCH & Co. Zachary Gunn - FT Partners Operator Hello, and welcome to Remitly's Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

Remitly Global, Inc. (RELY) Q3 2024 Earnings Call Transcript

Remitly Global, Inc. (RELY) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.06 per share. This compares to loss of $0.20 per share a year ago.

Remitly Global, Inc. (RELY) Q3 Earnings and Revenues Surpass Estimates

Shares of Remitly surged in after-hours trading as the Seattle-based digital remittance company reported its first profitable quarter.

Remitly stock spikes 19% after first profitable quarter; revenue up 39%

Active customers up 35% year over year Revenue up 39% year over year Achieved GAAP net income profitability and record Adjusted EBITDA SEATTLE, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of digital financial services that transcend borders, reported results for the third quarter ended September 30, 2024. “I am grateful to our customers and global teams for the exceptional third quarter results,” said Matt Oppenheimer, co-founder and Chief Executive Officer, Remitly.

Remitly Reports Third Quarter 2024 Results and Raises Full Year 2024 Outlook

Remitly (RELY) stock has underperformed the market this year, falling by over 22% even as the Nasdaq 100 and S&P 500 indices have soared by 20%+ and moved to their all-time highs.  It remains 47% below its highest level in 2023 and by 72% from its all-time high, bringing its market cap to $2.9 billion.

Remitly stock has multiple catalysts and could surge soon

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SEATTLE, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a trusted provider of digital financial services that transcend borders, today announced that its management team will present at the 2024 Goldman Sachs Communacopia + Technology Conference

Remitly to Present at the 2024 Goldman Sachs Communacopia + Technology Conference

The average of price targets set by Wall Street analysts indicates a potential upside of 54.4% in Remitly Global (RELY). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts See a 54.39% Upside in Remitly Global (RELY): Can the Stock Really Move This High?

The consensus price target hints at a 74.4% upside potential for Remitly Global (RELY). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

Wall Street Analysts Think Remitly Global (RELY) Could Surge 74.37%: Read This Before Placing a Bet

Remitly Global, Inc. (NASDAQ:RELY ) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Stephen Shulstein – Vice President, Investor Relations Matt Oppenheimer – Co-Founder and Chief Executive Officer Hemanth Munipalli – Chief Financial Officer Conference Call Participants Tien-Tsin Huang – JPMorgan Andrew Schmidt – Citi Allison Gelman – Barclays Will Nance – Goldman Sachs David Scharf – Citizens JMP Darrin Peller – Wolfe Research Cris Kennedy – William Blair Alex Markgraff – KeyBanc Capital Markets Andrew Bauch – Wells Fargo Rufus Hone – BMO Gustavo Gala – Monness, Crespi, Hardt & Company Matthew ONeill – FT Partners Operator Thank you for standing by. Welcome to the Remitly Second Quarter 2024 Earnings Call.

Remitly Global, Inc. (RELY) Q2 2024 Earnings Call Transcript

Remitly Global, Inc. (RELY) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.11 per share a year ago.

Remitly Global, Inc. (RELY) Reports Q2 Loss, Tops Revenue Estimates

SEATTLE, July 31, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of digital financial services that transcend borders, today announced the appointment of seasoned finance executive Vikas Mehta as Chief Financial Officer, succeeding Hemanth Munipalli, effective August 19, 2024. Munipalli is leaving for family reasons, and will oversee an orderly transition, remaining with the company through September 30, 2024.

Remitly Announces CFO Transition Plan

Active customers up 36% year over year Revenue up 31% year over year Net loss improved 36% year over year; Adjusted EBITDA up 23% year over year

Remitly Reports Second Quarter 2024 Results

SEATTLE, July 19, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY) (“Remitly”), a trusted provider of digital financial services that transcend borders, today announced that it will report second quarter 2024 financial results after the market close on Wednesday, July 31, 2024. Management will host a conference call and live webcast to present the Company's financial results and answer questions from the financial analyst community at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time that same evening. Conference call and webcast information can be found below.

Remitly to Report Second Quarter Financial Results on Wednesday, July 31, 2024

LOS ANGELES, CA / ACCESSWIRE / July 1, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Remitly Global, Inc. ("Remitly" or "the Company") (NASDAQ:RELY) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

Shareholders Of Remitly Global Inc Are Urged To Communicate As The Schall Law Firm Is Embarking On A Review Of Claims Against It

LOS ANGELES, CA / ACCESSWIRE / June 30, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Remitly Global, Inc. ("Remitly" or "the Company") (NASDAQ:RELY) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

Shareholders Of Remitly Global Inc Are Called To Connect As The Schall Law Firm Is Launching An Inquiry Into Charges Against It

LOS ANGELES, CA / ACCESSWIRE / June 29, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Remitly Global, Inc. ("Remitly" or "the Company") (NASDAQ:RELY) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

Shareholders Of Remitly Global Inc Are Invited To Reach Out As The Schall Law Firm Is Scrutinizing Accusations Against It

I am positive about RELY due to it superior value proposition to users. RELY has strong growth potential with only 2% market share in $1.8 trillion TAM. I expect continued growth at >30% with expanding EBITDA margins.

Remitly Global: Solid Macro Tailwinds And Track Record Of Growth

LOS ANGELES, CA / ACCESSWIRE / June 28, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Remitly Global, Inc. ("Remitly" or "the Company") (NASDAQ:RELY) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

Shareholders Of Remitly Global Inc Are Encouraged To Initiate Contact As The Schall Law Firm Is Probing Allegations Against It

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