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

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

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 Down 0.0%

RELY stock traded down $0.01 during midday trading on Wednesday, hitting $23.73. The company’s stock had a trading volume of 6,784,152 shares, compared to its average volume of 3,527,158. The company has a market cap of $4.99 billion, a PE ratio of 76.55, a P/E/G ratio of 0.84 and a beta of 0.40. Remitly Global has a 12 month low of $12.08 and a 12 month high of $24.70. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average is $17.69 and its 200-day moving average is $15.32.

Insider Activity

In other news, Director Joshua Hug sold 29,049 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $17.98, for a total transaction of $522,301.02. Following the transaction, the director directly owned 3,575,733 shares of the company’s stock, valued at $64,291,679.34. This represents a 0.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vikas D. Mehta sold 25,000 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $17.50, for a total value of $437,500.00. Following the transaction, the chief financial officer directly owned 862,759 shares in the company, valued at $15,098,282.50. The trade was a 2.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 12,163,520 shares of company stock worth $194,773,102. Insiders own 6.53% of the company’s stock.

Hedge Funds Weigh In On Remitly Global

Several hedge funds and other institutional investors have recently modified their holdings of RELY. Quarry LP bought a new position in shares of Remitly Global during the 3rd quarter valued at $42,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Remitly Global by 1,597.8% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 4,669 shares of the financial services provider’s stock valued at $64,000 after buying an additional 4,394 shares during the period. Raymond James Financial Inc. bought a new position in shares of Remitly Global during the 2nd quarter valued at $89,000. Parallel Advisors LLC bought a new position in shares of Remitly Global during the 4th quarter valued at $96,000. Finally, Advisors Asset Management Inc. lifted its holdings in shares of Remitly Global by 29.6% during the 4th quarter. Advisors Asset Management Inc. now owns 7,698 shares of the financial services provider’s stock valued at $106,000 after buying an additional 1,758 shares during the period. 74.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Citigroup restated an “outperform” rating on shares of Remitly Global in a research report on Thursday, February 19th. Citizens Jmp boosted their price target on Remitly Global from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Thursday, February 19th. JPMorgan Chase & Co. cut their price target on shares of Remitly Global from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, January 20th. Weiss Ratings upgraded Remitly Global from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, February 20th. Finally, KeyCorp upped their target price on Remitly Global from $21.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

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.