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

Remitly Global (NASDAQ:RELY) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.12 by $0.11, FiscalAI reports. Remitly Global had a net margin of 4.15% and a return on equity of 8.87%. The company had revenue of $452.80 million for the quarter, compared to analyst estimates of $438.94 million. During the same quarter in the prior year, the business posted $0.05 EPS. Remitly Global’s quarterly revenue 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 Performance

Remitly Global stock traded down $0.94 during mid-day trading on Thursday, reaching $22.79. The company had a trading volume of 8,353,367 shares, compared to its average volume of 3,718,035. Remitly Global has a 52 week low of $12.08 and a 52 week high of $24.70. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.18. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 73.52, a PEG ratio of 0.84 and a beta of 0.40. The company has a 50 day moving average of $17.69 and a 200-day moving average of $15.32.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RELY. JPMorgan Chase & Co. dropped their price target on shares of Remitly Global from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Monness Crespi & Hardt increased their price target on shares of Remitly Global from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp increased their price target on shares of Remitly Global from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Cantor Fitzgerald increased their price target on shares of Remitly Global from $20.00 to $24.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Finally, Freedom Capital raised shares of Remitly Global to a “strong-buy” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.44.

Remitly Global News Roundup

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

• Positive Sentiment: Remitly reported stronger-than-expected Q1 results — EPS $0.23 vs. $0.12 est., revenue $452.8M vs. $438.9M, send volume +37% y/y, net income and Adjusted EBITDA surged, and management raised full‑year outlook; this is the principal bullish catalyst. GlobeNewswire: Q1 Results & Outlook
• Positive Sentiment: Analyst upgrades/price-target increases reinforce the upside case: Monness Crespi raised its target to $33 and kept a Buy rating, and Citizens Jmp lifted its target to $26 with a Market Outperform — signaling institutional confidence in the beat and outlook. Benzinga: Analyst Coverage TickerReport: Analyst Note
• Positive Sentiment: Management narrative: new CEO Sebastian Gunningham highlighted a large addressable market in cross‑border payments and opportunities to win share from incumbents — supports long‑term growth expectations. PYMNTS: CEO Interview
• Neutral Sentiment: Guidance detail: Remitly updated Q2 revenue guidance roughly in line with consensus (~$483–485M) and adjusted FY outlook upward — supportive but not a clear outperformance versus expectations. Investor Presentation / Press Release
• Neutral Sentiment: Full earnings materials and call transcript are available for deeper review (slides and transcript provide color on customer cohorts, margins and marketing cadence). Seeking Alpha: Q1 Call Transcript
• Negative Sentiment: Shares are lower today despite the beat — likely profit‑taking after the strong run (stock near its 1‑year high) and elevated trading volume; short‑term sentiment is cooling.
• Negative Sentiment: Valuation and clarity concerns: the stock still trades at a high P/E (~74) which can magnify selling on any perceived guidance ambiguity; some published materials contained odd/garbled guidance text that may have created investor uncertainty.

Insider Activity

In related news, CFO Vikas D. Mehta sold 25,000 shares of Remitly Global stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $17.50, for a total transaction of $437,500.00. Following the completion of the transaction, the chief financial officer directly owned 862,759 shares of the company’s stock, valued at $15,098,282.50. This trade represents a 2.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Pankaj Sharma sold 10,000 shares of Remitly Global stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the insider directly owned 665,878 shares of the company’s stock, valued at $13,317,560. This represents a 1.48% decrease in their ownership of the stock. 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. Over the last quarter, insiders have sold 12,163,520 shares of company stock valued at $194,773,102. 6.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On Remitly Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PharVision Advisers LLC acquired a new stake in Remitly Global in the 3rd quarter valued at about $259,000. Caxton Associates LLP increased its position in Remitly Global by 27.3% in the 2nd quarter. Caxton Associates LLP now owns 13,330 shares of the financial services provider’s stock valued at $250,000 after acquiring an additional 2,859 shares in the last quarter. Panagora Asset Management Inc. increased its position in Remitly Global by 20.3% in the 4th quarter. Panagora Asset Management Inc. now owns 17,259 shares of the financial services provider’s stock valued at $238,000 after acquiring an additional 2,907 shares in the last quarter. Inceptionr LLC acquired a new stake in shares of Remitly Global during the 4th quarter worth approximately $204,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Remitly Global during the 4th quarter worth approximately $176,000. Institutional investors and hedge funds 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.