Remitly Global, Inc.
16.28-0.36 (-2.16%)
Oct 29, 4:00:01 PM EDT · NasdaqGS · RELY · USD
Key Stats
Market Cap
3.36BP/E (TTM)
271.33Basic EPS (TTM)
0.06Dividend Yield
0%Recent Filings
8-K
Remitly Q2 beats, raises outlook
Remitly crushed Q2 2025 expectations, posting $411.9 million in revenue—up 34% year-over-year—fueled by 40% send volume growth to $18.5 billion and active users hitting 8.5 million. Net income swung to $6.5 million from a prior loss, while Adjusted EBITDA soared 144% to $64 million, signaling robust profitability. The board greenlit a $200 million share buyback to counter dilution. Yet macroeconomic headwinds loom large.
10-Q
Q2 FY2025 results
Remitly's Q2 revenue surged 34% year-over-year to $411.9M, fueled by 40% send volume growth to $18.5B and 24% more active customers at 8.5M, while quarterly operating income flipped to a $14.6M profit from a $15.8M loss. Gross margins held steady at 65%, but net income of $6.5M trailed operating gains due to $6.9M in foreign exchange losses. Year-to-date, revenue climbed 34% to $773.5M with $17.9M net income, and diluted EPS of $0.08 reconciles cleanly to 218.7M shares. Cash swelled to $515.9M, bolstered by $174.1M operating cash flow and a fresh $550M revolver (unused at quarter-end, net leverage covenant 4.50:1.00). The new 2025 facility matures June 2030 at Term SOFR plus 1.50%. Free cash flow hit $141.5M (derived). Yet regulatory shifts like the OBBBA remittance tax could crimp volumes.
8-K
Remitly upsizes credit facility
Remitly Global secured a $550 million revolving credit facility on June 24, 2025, replacing its prior $325 million agreement with no outstanding borrowings at termination. The new secured line, backed by subsidiary guarantees and first-priority liens on substantially all assets, carries interest at Term SOFR plus 1.50% or the alternate base rate plus 0.50%, with proceeds earmarked for prefunding customer remittance flows and general corporate needs. A net leverage covenant caps ratios at 4.50:1.00 quarterly. This upsized liquidity bolsters operational flexibility amid remittance demands.
8-K
Annual meeting outcomes and CEO decision
Remitly Global's stockholders at the June 11, 2025 Annual Meeting elected Ryno Blignaut, Phyllis Campbell, and Phillip Riese to the board for terms ending in 2028, with Blignaut receiving the strongest support at 111.8 million for votes. They also approved executive compensation on an advisory basis and ratified PricewaterhouseCoopers as auditors for 2025. CEO Matthew Oppenheimer opted out of his 2025 equity award to prioritize employee grants and curb dilution concerns. This signals alignment with shareholder priorities amid growth pressures.
10-Q
Q1 FY2025 results
Remitly Global swung to an operating profit of $12.2M in Q1 FY2025 ended March 31, 2025, up from a $20.0M loss a year earlier, while revenue jumped 34% y/y to $361.6M on 41% higher send volume of $16.2B and 29% more active customers at 8.0M. Gross margin held steady at 66%, but expenses rose 21% y/y, with transaction costs up 35% to match volume growth and tech/development climbing 17% for product enhancements. Net income hit $11.4M or $0.05 diluted EPS on 218M shares, versus a $21.1M loss last year; EPS reconciles without anti-dilution flags. Cash swelled to $493.9M with $132.9M operating cash flow and $115.0M free cash flow (derived), bolstered by $277.7M revolver availability under the 2021 facility maturing September 2026—no borrowings outstanding, covenants met. Yet competition in digital remittances could squeeze margins if corridor mixes shift unfavorably.
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