Remitly Global, Inc.
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Range $27 – $33
Price Chart
About the company
Remitly Global, Inc. specializes in providing digital financial services tailored for immigrants and their families. Primarily, it enables international money transfers, operating in nearly 150 countries.
- CEO
- Sebastian J. Gunningham
- IPO
- 2021
- Employees
- 3,200
- HQ
- Seattle, WA, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $5.20B
- P/E
- 17.01
- Fwd P/E
- 17.76
- PEG
- 0.01
- P/S
- 2.88
- P/B
- 4.62
- EV/EBITDA
- 21.61
- Div Yield
- 0.00%
- Gross Margin
- 60.01%
- Op Margin
- 10.10%
- Net Margin
- 16.85%
- ROE
- 32.97%
- ROIC
- 15.57%
Latest fiscal year · YoY change
- Revenue
- $1.64B+29.4%
- Gross Profit
- $934.37M+24.8%
- Op Income
- $81.65M
- Net Income
- $67.93M+283.7%
- EPS
- $0.33+273.7%
- OCF Growth
- +67.2%
- FCF Growth
- +67.2%
- 52W High
- $27.15
- 52W Low
- $12.08
- 50D MA
- $22.98
- 200D MA
- $17.96
- Beta
- 0.34
- RSI (14)
- 53
- Avg Volume
- 3.65M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Remitly posted a record quarter with revenue, adjusted EBITDA, and free cash flow all ahead of guidance, while management highlighted accelerating customer growth and new product launches beyond core remittances.· August 5, 2026
- Record Q2 revenue of $495 million rose 20% year over year and beat the midpoint of guidance by $11 million.
- Adjusted EBITDA reached a record $115 million with a 23% margin, and free cash flow was over $130 million.
- Quarterly active customers crossed 10.2 million, Remitly’s first quarter above 10 million, while send volume grew 27% to $23.5 billion.
- Growth accelerators gained traction: high-value sender volume grew 37%, Remitly Business exceeded 25,000 users, and the receiver product generated revenue for the first time.
- Management raised full-year guidance, now calling for 2026 revenue of $1.978 billion to $1.988 billion and adjusted EBITDA of $410 million to $415 million.
Q2 revenue was $495 million, up 20% year over year and $11 million above the midpoint of guidance. Adjusted EBITDA was $115 million, above the midpoint of guidance, at a 23% margin. Send volume grew 27% to $23.5 billion, quarterly active customers grew 20% year over year to 10.2 million, take rate was 2.11%, transaction margin dollars grew 25% to $334 million, and transaction margins were 67% (up 35 basis points year over year). Free cash flow was over $130 million, and net income was $206 million, including a $140.6 million release of tax valuation allowance. For Q3 2026, management expects revenue of $505 million to $507 million, adjusted EBITDA of $92 million to $94 million, and adjusted EBITDA margin of about 18% to 19%. For full-year 2026, revenue is expected to be $1.978 billion to $1.988 billion, adjusted EBITDA $410 million to $415 million, and transaction margins broadly in line with 2025 on a normalized basis.
Sebastian J. Gunningham framed the quarter as proof that Remitly’s strategy is working: affordable, fast, trusted money movement, plus growing products beyond send. He emphasized the company’s improving operating rhythm, saying the business is gaining momentum across network, risk, compliance, and product launches, while AI is helping speed development and lower costs. His tone was upbeat and confident, but he repeatedly stressed that the company is still early in several growth bets and will keep testing before scaling.
Vikas Mehta focused on the financial execution: revenue of $495 million, adjusted EBITDA of $115 million, and free cash flow over $130 million. He said transaction margin dollars grew 25% to $334 million, transaction margins were 67%, transaction expenses were $161 million, and provision for transaction losses was $24.5 million, or 10.4 basis points of send volume. On costs, he cited marketing spend of $96.5 million, customer support and operations of $26.2 million, technology and development of $55.5 million, and G&A of $41 million, noting G&A declined 11% year over year. He also pointed to buybacks of $21 million in Q2 and almost 4 million shares repurchased year to date, and said share repurchases remain an attractive use of capital.
Analysts pressed on where management is most excited across Global Card, USDC, AI, and core business momentum; Sebastian said the answer is the combination of all of them, not one single initiative. Questions also focused on high-value sender marketing, where Vikas said spend will be gradual and thoughtful, with early learning in FY2026 and more expansion in FY2027. On AI, management said benefits are showing up across transaction losses, customer support, technology and development, and G&A. On the receiver opportunity and growth accelerators, management called the opportunity compelling but early, and said these newer businesses are being built for long-term scale rather than short-term contribution.
The bull case is that Remitly is still growing its core business at a strong rate while also opening multiple new monetization paths. Management highlighted record customer additions, accelerating core momentum, and early traction in high-value senders, business customers, receivers, and the Global Card. AI-driven productivity, share gains, and expanding network reach all support the view that the company can keep growing revenue while expanding margins.
The main risk is that several of the newer growth initiatives are still early and not yet proven at scale, especially the receiver business and the Global Card. Management also noted softness in high-value sender growth in June tied to Indian rupee moves and RBI measures, and said they expect normalization over the year. The full-year margin outlook implies some second-half moderation versus the unusually strong first half, as transaction losses are normalized and growth investments continue.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 88.2%
- Shares Outstanding
- 210.56M
- Float Shares
- 185.70M
of shares held by institutions
309 13F filers
Buy/sell ratio 0.15. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Fmr LLC | 21.76M | ▲ 11.03M |
| Blackrock, Inc. | 18.33M | ▲ 3.64M |
| Vanguard Group Inc | 16.05M | ▼ 98.20K |
| Baillie Gifford & Co | 12.38M | ▲ 565.36K |
| Goldman Sachs Group Inc | 8.53M | ▲ 6.24M |
| Vanguard Capital Management LLC | 7.99M | ▲ 467.49K |
| State Street Corp | 6.87M | ▲ 2.99M |
| Generation Investment Management Llp | 4.89M | ▼ 2.80M |
| Geode Capital Management, LLC | 4.76M | ▲ 474.92K |
| Marshall Wace, Llp | 4.76M | ▼ 1.64M |
| Divisadero Street Capital Management, LP | 3.72M | ▲ 2.67M |
| Dimensional Fund Advisors LP | 3.45M | ▲ 310.71K |
Held by 317 ETFs
Biggest fund positions in RELY by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 17, 26 | MORRIS NIGEL W | sell | 20,000 |
| Aug 18, 26 | MORRIS NIGEL W | sell | 3,249 |
| Aug 13, 26 | MORRIS NIGEL W | sell | 11,000 |
| Aug 14, 26 | MORRIS NIGEL W | sell | 20,000 |
| Aug 12, 26 | Riese Phillip John | other | 69,818 |
| Aug 12, 26 | Riese Phillip John | sell | 40,000 |
| Aug 12, 26 | Riese Phillip John | sell | 29,818 |
| Aug 12, 26 | Riese Phillip John | other | 69,818 |
| Aug 11, 26 | Hug Joshua | sell | 5,500 |
| Aug 12, 26 | Hug Joshua | sell | 5,500 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our RELY coverage
Recent articles, reports, and earnings notes.
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