Remitly Global (NASDAQ:RELY) Issues Quarterly Earnings Results

Remitly Global (NASDAQ:RELY) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.15, Zacks reports. Remitly Global had a return on equity of 33.33% and a net margin of 16.85%. The firm had revenue of $509.84 million for the quarter, compared to the consensus estimate of $507.31 million. During the same period in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis.

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 Trading Down 22.2%

RELY stock traded down $6.01 during midday trading on Thursday, hitting $21.07. 8,410,692 shares of the company’s stock were exchanged, compared to its average volume of 3,874,643. Remitly Global has a 1-year low of $12.08 and a 1-year high of $28.00. The stock has a market capitalization of $4.46 billion, a PE ratio of 15.18 and a beta of 0.46. The business has a 50-day simple moving average of $23.74 and a two-hundred day simple moving average of $20.62.

Insider Buying and Selling at Remitly Global

In related news, Director Nigel Morris sold 6,300 shares of Remitly Global stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $27.03, for a total value of $170,289.00. Following the completion of the transaction, the director owned 1,804,756 shares in the company, valued at approximately $48,782,554.68. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Pankaj Sharma sold 21,000 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $26.39, for a total transaction of $554,190.00. Following the completion of the transaction, the insider owned 716,022 shares of the company’s stock, valued at approximately $18,895,820.58. This trade represents a 2.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 478,738 shares of company stock valued at $11,874,000 over the last three months. 6.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Trending Headlines about Remitly Global

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

• Positive Sentiment: Record Q3 results included revenue of $509.8 million, up 22% year over year, and send volume growth of 25%. Earnings also topped analyst estimates, while net income rose more than sevenfold to $67.6 million. Remitly Q3 results and outlook
• Positive Sentiment: Remitly raised its full-year 2026 outlook and forecast Q4 revenue of $531 million to $533 million. Management also described high-teens growth expectations for 2027, with AI-driven efficiencies and expanded payment services supporting its plans. Q4 guidance and 2027 growth outlook
• Positive Sentiment: The board expanded the share repurchase authorization from $200 million to $500 million, potentially supporting shareholder returns. Remitly Q3 results and outlook
• Positive Sentiment: Remitly expanded its card nationwide and added features to send and request money within the U.S., extending its product reach beyond cross-border transfers. Remitly card expansion
• Negative Sentiment: Despite the earnings beat and higher outlook, RELY traded lower. The supplied reports do not give a clear reason for the decline; investors may be weighing the outlook against expectations, but that is not confirmed in the coverage.

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.