Remitly Global (NASDAQ:RELY) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• Remitly beat expectations with Q1 EPS of $0.23 vs. $0.12 consensus and revenue of $453M (up 25% YoY), and management raised guidance to Q2 revenue of $483–485M and full‑year revenue of $1.96–1.975B with an expected adjusted EBITDA margin near 19%.
• Key growth drivers are scaling — high‑value sender volume rose 73% YoY, Remitly for Business surpassed 20,000 users with >30% QoQ volume growth, and new receiver/wallet/stablecoin products are targeted to become ~5% of revenue by 2026 and >10% by 2028 while the company embeds AI and has taken workforce actions to improve efficiency.
• Remitly generated strong cash flow (Q1 free cash flow > $70M) and holds ~$650M in cash, funded $44M of buybacks, though insiders have sold sizeable positions recently (over 12M shares in the last 90 days).

Remitly Global (NASDAQ:RELY - Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.11, FiscalAI reports. The business had revenue of $452.80 million for the quarter, compared to analyst estimates of $438.94 million. Remitly Global had a return on equity of 8.87% and a net margin of 4.15%.The business's revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS.

Here are the key takeaways from Remitly Global's conference call:

• Q1 results beat guidance with record revenue of $453 million (up 25% YoY) and adjusted EBITDA of $102 million, driving record adjusted EBITDA margin and GAAP net income.
• Management affirmed momentum and raised visibility for the year with Q2 revenue guidance of $483–485 million and full‑year revenue of $1.96–1.975 billion (~20–21% growth) and an expected adjusted EBITDA margin near 19%.
• “Growth accelerators” are scaling — high‑value senders volume grew 73% YoY, Remitly for Business surpassed 20,000 users with >30% QoQ volume growth, and receiver/wallet/stablecoin offerings launched, collectively targeted to be ~5% of revenue in 2026 and >10% by 2028.
• Company is aggressively embedding AI to drive cost, speed, and trust benefits (compressing product cycles and improving fraud prevention), and has already taken workforce actions (250+ reductions, 50+ redeployments) to capture efficiencies that will fund growth.
• Strong cash generation and capital allocation — Q1 free cash flow > $70 million, cash on hand ~ $650 million, and opportunistic buybacks of $44 million (2.8M shares) with shares outstanding declining to ~210M.

Remitly Global Stock Performance

RELY traded down $0.01 during trading on Wednesday, reaching $23.73. 6,784,152 shares of the company were exchanged, compared to its average volume of 3,527,158. Remitly Global has a 52 week low of $12.08 and a 52 week high of $24.70. The stock has a market cap of $4.99 billion, a P/E ratio of 74.19, a PEG ratio of 0.84 and a beta of 0.40. The firm has a 50 day moving average of $17.69 and a 200 day moving average of $15.32. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.18.

Wall Street Analyst Weigh In

RELY has been the topic of several research reports. Wall Street Zen lowered Remitly Global from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 28th. Zacks Research downgraded Remitly Global from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 20th. JPMorgan Chase & Co. lowered their price objective on Remitly Global from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, January 20th. Weiss Ratings upgraded Remitly Global from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, February 20th. Finally, KeyCorp upped their price objective on Remitly Global from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Remitly Global presently has an average rating of "Moderate Buy" and a consensus target price of $22.67.

Insider Buying and Selling

In other news, CFO Vikas D. Mehta sold 25,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $17.50, for a total value of $437,500.00. Following the completion of the transaction, the chief financial officer owned 862,759 shares of the company's stock, valued at approximately $15,098,282.50. This represents a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Pankaj Sharma sold 10,000 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the insider directly owned 665,878 shares of the company's stock, valued at approximately $13,317,560. The trade was a 1.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,163,520 shares of company stock valued at $194,773,102. Company insiders own 6.53% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Remitly Global in the fourth quarter worth $268,000. Corient Private Wealth LLC boosted its stake in Remitly Global by 4.2% during the fourth quarter. Corient Private Wealth LLC now owns 205,978 shares of the financial services provider's stock valued at $2,843,000 after buying an additional 8,300 shares in the last quarter. Creek Drive Management Group LLC bought a new position in Remitly Global during the fourth quarter valued at about $2,036,000. Mercer Global Advisors Inc. ADV boosted its stake in Remitly Global by 102.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 562,835 shares of the financial services provider's stock valued at $7,767,000 after buying an additional 284,713 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in Remitly Global by 25.0% during the fourth quarter. Vident Advisory LLC now owns 86,038 shares of the financial services provider's stock valued at $1,187,000 after buying an additional 17,206 shares in the last quarter. Institutional investors own 74.25% of the company's stock.

Remitly Global Company Profile

Remitly Global, Inc operates as a digital financial services company specializing in cross-border money transfers. Through its proprietary online platform and mobile applications, the company enables immigrants, expatriates and international workers to send remittances swiftly and securely to their families abroad. By focusing on fast deliverability and transparent pricing, Remitly seeks to streamline a process traditionally dominated by cash-based methods and legacy money transfer operators.

Founded in 2011 by Matt Oppenheimer and headquartered in Seattle, Washington, Remitly has grown from a startup into a publicly traded corporation listed on NASDAQ under the ticker RELY.

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