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.

Earnings data Q3 2021

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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.

SEATTLE, May 15, 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 participate in the following investor conferences:

Remitly Announces May 2024 Investor Conference Participation

LOS ANGELES, CA / ACCESSWIRE / May 15, 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.

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Remitly Global, Inc. and Encourages Investors to Contact the Firm

SEATTLE, May 07, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of digital financial services that transcend borders, today announced the appointment of Ronit Peled as Chief People Officer.  "We are thrilled to welcome Ronit Peled to Remitly as our new Chief People Officer,” said Matt Oppenheimer, Co-founder & CEO of Remitly.

Remitly Appoints Ronit Peled as Chief People Officer

Remitly posted solid results in the quarter, but missed top-line estimates. The company maintained its revenue guidance, but raised its full-year EBITDA forecast.

Why Remitly Global Stock Was Sliding Today

Remitly Global, Inc. (NASDAQ:RELY ) Q1 2024 Earnings Conference Call May 1, 2024 5:00 PM ET Company Participants Stephen Shulstein - VP, IR Matt Oppenheimer - Co-Founder and CEO Hemanth Munipalli - CFO Conference Call Participants Andrew Schmidt - Citi Global Allison Gelman - Barclays Will Nance - Goldman Sachs Tien-Tsin Huang - JPMorgan Rufus Hone - BMO Cris Kennedy - William Blair Darrin Peller - Wolfe Research Alex Markgraff - KeyBanc Capital Markets Andrew Bauch - Wells Fargo Matthew O'Neill - FT Partners Operator Good day and thank you for standing by. Welcome to the Remitly First Quarter 2024 Earnings Call.

Remitly Global, Inc. (RELY) Q1 2024 Earnings Call Transcript

Remitly Global, Inc. (RELY) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.16 per share a year ago.

Remitly Global, Inc. (RELY) Reports Q1 Loss, Tops Revenue Estimates

Active customers up 36% year over year Send volume up 34% year over year Revenue up 32% year over year

Remitly Reports First Quarter 2024 Results

SEATTLE, April 17, 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 first quarter 2024 financial results after the market close on Wednesday, May 1, 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 First Quarter Financial Results on Wednesday, May 1, 2024

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Remitly (NASDAQ: RELY) stock price has crawled back in the past two years as demand for its services has risen substantially. After crashing to $6.5 in May 2022, the stock has surged to over $20, giving it a market cap of over $3.8 billion.

Remitly stock price could benefit from the US migration crisis

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The mean of analysts' price targets for Remitly Global, Inc. (RELY) points to a 28.2% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts Believe Remitly Global, Inc. (RELY) Could Rally 28.24%: Here's is How to Trade

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Remitly Global, Inc. (RELY) Q4 2023 Earnings Call Transcript

SEATTLE, Feb. 22, 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 following investor conferences:

Remitly Announces Upcoming Investor Conference Participation

Remitly posted brisk growth in all key categories. The company said EBITDA profit could double in 2024.

Why Remitly Global Stock Was Soaring Today

The provider of digital financial services tops quarterly revenue estimates.

Remitly Global Stock Surges After Earnings. It's ‘in the Early Innings' of Growth Story, Says Analyst.

Remitly's business is on a roll. The Seattle-based digital remittance company reported its full-year results Wednesday for 2023. Total revenue last year came in at $944.3 million, up 44% year-over-year; and send volume increased to $39.5 billion, up 38%.

Remitly revenue up 44% to $944M in 2023, with more growth expected this year

Active customers up 41% year over year Send volume up 38% year over year Revenue up 39% year over year

Remitly Reports Fourth Quarter and Full Year 2023 Results

SEATTLE, Feb. 13, 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 fourth quarter and full year 2023 financial results after the market close on Wednesday, February 21, 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.

UPDATE -- Remitly to Report Fourth Quarter and Full Year 2023 Financial Results on Wednesday, February 21, 2024

SEATTLE, Feb. 09, 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 fourth quarter and full year 2023 financial results after the market close on Wednesday, February 21, 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 Fourth Quarter and Full Year 2023 Financial Results on Wednesday, February 21, 2024

Remitly's stock fell significantly post-3Q earnings despite a revenue and EBITDA beat. Investors are concerned about the lack of EBITDA flow through in the guidance and increased marketing investments. Analysis shows that RELY continues to see strong returns on user acquisition and the long-term thesis remains intact.

Buy Remitly As Fears Around Marketing Spend Are Unfounded

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Remitly Global is a digital-first fintech company that provides international money transfer services to over 170 countries. The company has experienced significant revenue growth and increased its active customer base by 47% year-on-year since 2019. Despite recent stock price fluctuations, Remitly has a mean price target of $53.33, indicating potential for future growth.

Remitly: A Digital-First Fintech Disrupting The Remittances Sector

Remitly beat top-line estimates in its Q3 report but missed on the bottom line. The company raised its guidance for the full year.

Why Remitly Global Stock Lost 20% in November

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Yanilsa Gonzalez-Ore, North America Head of Visa Direct and Global Ecosystem Readiness, and Remitly's CEO Matt Oppenheimer told PYMNTS cross-border money transfers are ripe for app-driven, digital modernization.

News for Remitly Global Stock (RELY)