Remitly Global (NASDAQ:RELY) Releases Earnings Results, Beats Expectations By $0.15 EPS

Remitly Global (NASDAQ:RELY) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15, Zacks reports. The firm had revenue of $509.84 million during the quarter, compared to the consensus estimate of $507.31 million. Remitly Global had a return on equity of 37.93% and a net margin of 19.14%. The company’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the company earned $0.04 earnings per share.

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

• Remitly delivered a record quarter, with revenue up 22% to $510 million, adjusted EBITDA up to $121 million at a record 24% margin, and net income of $68 million.
• Core activity remained strong: send volume grew 25%, active customers grew 17% to 10.3 million, and transaction margin dollars increased 27%. Management said customer acquisition and retention were strong, while noting that larger transfers and business customers are lifting volume per customer.
• Remitly is expanding beyond consumer remittances: its business product has more than 30,000 users, its Global Card is expanding across the U.S., and new businesses are expected to grow from about 5% of revenue in 2026 to more than 10% in 2028.
• Management’s early 2027 outlook calls for high-teens revenue growth, currently expected at the low end, and adjusted EBITDA margins broadly in line with 2026. Tougher comparisons from the remittance tax and more normalized investment spending are expected to weigh on growth and limit margin expansion.
• Temporary Indian foreign-currency measures affected large transfers, though management said the impact was difficult to quantify; large-transfer volume outside India grew 80% year over year, and the company expects the disruption to stabilize over time.

Remitly Global Stock Up 4.5%

RELY traded up $0.96 during mid-day trading on Friday, reaching $22.51. 2,421,828 shares of the company traded hands, compared to its average volume of 3,883,021. The company’s fifty day moving average price is $23.66 and its 200-day moving average price is $20.66. The stock has a market capitalization of $4.77 billion, a P/E ratio of 13.65 and a beta of 0.46. Remitly Global has a 52-week low of $12.08 and a 52-week high of $28.00.

Key Headlines Impacting Remitly Global

Here are the key news stories impacting Remitly Global this week:

• Positive Sentiment: Record Q3 performance: Revenue rose 22% year over year to $509.8 million, while send volume increased 25%. Net income climbed to $67.6 million, and adjusted EBITDA rose 97% to $120.8 million. Revenue and earnings exceeded consensus estimates, supporting the case for continued growth. Remitly Q3 results and outlook
• Positive Sentiment: Higher outlook and larger buyback: Remitly raised its 2026 outlook, projected Q4 revenue of $531 million to $533 million, and described expectations for high-teens growth in 2027. The board also increased its share-repurchase authorization from $200 million to $500 million, which could support investor confidence and share demand. Q3 call highlights
• Neutral Sentiment: Management plans to participate in a post-earnings webinar and an investor conference. These events may provide more detail on results and guidance, but no new business developments were announced. Investor event announcement
• Negative Sentiment: Put-option trading was unusually elevated: traders bought 2,262 contracts, 134% above the typical volume. This may reflect increased hedging or bearish sentiment, though options activity alone does not establish the market’s direction.

Analysts Set New Price Targets

RELY has been the subject of a number of research analyst reports. Monness Crespi & Hardt reissued a “buy” rating on shares of Remitly Global in a report on Thursday, August 6th. Wolfe Research upped their price target on Remitly Global from $31.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 25th. Cantor Fitzgerald increased their price objective on Remitly Global from $28.00 to $30.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Weiss Ratings downgraded Remitly Global from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Finally, KeyCorp lifted their price objective on Remitly Global from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Remitly Global presently has an average rating of “Moderate Buy” and a consensus target price of $27.78.

Insider Transactions at Remitly Global

In related news, Director Phillip Riese sold 100,000 shares of Remitly Global stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $23.73, for a total value of $2,373,000.00. Following the completion of the sale, the director owned 261,094 shares of the company’s stock, valued at $6,195,760.62. The trade was a 27.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vikas Mehta sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $26.15, for a total value of $653,750.00. Following the sale, the chief financial officer owned 943,735 shares of the company’s stock, valued at approximately $24,678,670.25. This trade represents a 2.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 309,618 shares of company stock worth $7,651,767. Company insiders own 6.53% of the company’s stock.

Remitly Global Company Profile

Remitly Global, Inc is a digital financial services company that enables consumers to send money internationally. Its platform is designed primarily for immigrants and other customers who regularly transfer funds to family and friends in their countries of origin.

Through its mobile application and website, Remitly allows users to initiate cross-border remittances and select delivery options such as bank deposits, mobile-wallet transfers, cash pickup and, in some markets, home delivery.