Remitly Reports Second Quarter 2025 Results Above Outlook and Raises Full Year 2025 Outlook
Remitly (NASDAQ: RELY) reported outstanding Q2 2025 results, achieving significant growth and profitability milestones. The digital financial services provider saw send volume surge 40% to $18.5 billion and revenue increase 34% to $411.9 million year-over-year. The company posted its first GAAP net income of $6.5 million, compared to a $12.1 million loss in Q2 2024.
Active customers grew 24% to 8.5 million, while Adjusted EBITDA jumped 144% to $64.0 million. Following these strong results, Remitly raised its full-year 2025 outlook, projecting revenue of $1.61-1.62 billion and Adjusted EBITDA of $225-230 million. Additionally, the Board authorized a $200 million share repurchase program to return capital to shareholders and offset dilution from employee equity compensation.
Remitly (NASDAQ: RELY) ha riportato risultati eccezionali per il secondo trimestre del 2025, raggiungendo importanti traguardi di crescita e redditivit脿. Il fornitore di servizi finanziari digitali ha registrato un aumento del volume di invii del 40%, arrivando a 18,5 miliardi di dollari e un incremento dei ricavi del 34%, pari a 411,9 milioni di dollari su base annua. L'azienda ha ottenuto il suo primo utile netto GAAP di 6,5 milioni di dollari, rispetto a una perdita di 12,1 milioni di dollari nel secondo trimestre del 2024.
I clienti attivi sono cresciuti del 24%, raggiungendo 8,5 milioni, mentre l'EBITDA rettificato 猫 aumentato del 144%, arrivando a 64,0 milioni di dollari. A seguito di questi risultati solidi, Remitly ha rivisto al rialzo le previsioni per l'intero anno 2025, stimando ricavi tra 1,61 e 1,62 miliardi di dollari e un EBITDA rettificato tra 225 e 230 milioni di dollari. Inoltre, il Consiglio di Amministrazione ha autorizzato un programma di riacquisto azionario da 200 milioni di dollari per restituire capitale agli azionisti e compensare la diluizione derivante dalla compensazione azionaria dei dipendenti.
Remitly (NASDAQ: RELY) report贸 resultados sobresalientes en el segundo trimestre de 2025, alcanzando hitos significativos de crecimiento y rentabilidad. El proveedor de servicios financieros digitales experiment贸 un aumento del volumen de env铆os del 40% hasta 18,5 mil millones de d贸lares y un incremento de ingresos del 34% hasta 411,9 millones de d贸lares interanual. La compa帽铆a registr贸 su primer ingreso neto GAAP de 6,5 millones de d贸lares, en comparaci贸n con una p茅rdida de 12,1 millones en el segundo trimestre de 2024.
Los clientes activos crecieron un 24% hasta 8,5 millones, mientras que el EBITDA ajustado aument贸 un 144%, alcanzando 64,0 millones de d贸lares. Tras estos s贸lidos resultados, Remitly elev贸 sus perspectivas para todo el a帽o 2025, proyectando ingresos de 1,61 a 1,62 mil millones de d贸lares y un EBITDA ajustado de 225 a 230 millones de d贸lares. Adem谩s, la Junta autoriz贸 un programa de recompra de acciones de 200 millones de d贸lares para devolver capital a los accionistas y compensar la diluci贸n por la compensaci贸n en acciones a empleados.
Remitly (NASDAQ: RELY)電� 2025雲� 2攵勱赴 霙办柎雮� 鞁れ爜鞚� 氤搓碃頃橂┌ 靹膘灔瓿� 靾橃澋靹膘棎靹� 欷戩殧頃� 鞚挫爼響滊ゼ 雼劚頄堨姷雼堧嫟. 霐旍韯� 旮堨湹 靹滊箘鞀� 鞝滉车鞐呾泊電� 靻￡笀霟夓澊 40% 歃濌皜頃橃棳 185鞏� 雼煬鞐� 雼枅瓿�, 毵れ稖鞚� 鞝勲厔 雽�牍� 34% 歃濌皜頃� 4鞏� 1,190毵� 雼煬毳� 旮半頄堨姷雼堧嫟. 須岇偓電� 2024雲� 2攵勱赴 1,210毵� 雼煬 靻愳嫟鞐愳劀 氩楈柎雮� 觳� GAAP 靾滌澊鞚� 650毵� 雼煬毳� 旮半頄堨姷雼堧嫟.
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Remitly (NASDAQ : RELY) a annonc茅 des r茅sultats exceptionnels pour le deuxi猫me trimestre 2025, atteignant des jalons significatifs en mati猫re de croissance et de rentabilit茅. Le fournisseur de services financiers num茅riques a vu son volume de transferts augmenter de 40 % pour atteindre 18,5 milliards de dollars et son chiffre d'affaires cro卯tre de 34 % pour s'茅tablir 脿 411,9 millions de dollars en glissement annuel. La soci茅t茅 a enregistr茅 son premier b茅n茅fice net selon les normes GAAP de 6,5 millions de dollars, contre une perte de 12,1 millions de dollars au deuxi猫me trimestre 2024.
Le nombre de clients actifs a augment茅 de 24 % pour atteindre 8,5 millions, tandis que l'EBITDA ajust茅 a bondi de 144 % pour atteindre 64,0 millions de dollars. Suite 脿 ces r茅sultats solides, Remitly a relev茅 ses pr茅visions pour l'ensemble de l'ann茅e 2025, anticipant un chiffre d'affaires compris entre 1,61 et 1,62 milliard de dollars et un EBITDA ajust茅 entre 225 et 230 millions de dollars. De plus, le conseil d'administration a autoris茅 un programme de rachat d'actions de 200 millions de dollars afin de restituer du capital aux actionnaires et compenser la dilution li茅e 脿 la r茅mun茅ration en actions des employ茅s.
Remitly (NASDAQ: RELY) meldete herausragende Ergebnisse f眉r das zweite Quartal 2025 und erreichte bedeutende Wachstums- und Profitabilit盲tsmeilensteine. Der digitale Finanzdienstleister verzeichnete einen Anstieg des Versandvolumens um 40 % auf 18,5 Milliarden US-Dollar sowie einen Umsatzanstieg um 34 % auf 411,9 Millionen US-Dollar im Jahresvergleich. Das Unternehmen erzielte erstmals einen GAAP-Nettogewinn von 6,5 Millionen US-Dollar, nachdem im zweiten Quartal 2024 noch ein Verlust von 12,1 Millionen US-Dollar verzeichnet wurde.
Die aktiven Kunden stiegen um 24 % auf 8,5 Millionen, w盲hrend das bereinigte EBITDA um 144 % auf 64,0 Millionen US-Dollar zunahm. Aufgrund dieser starken Ergebnisse hob Remitly seine Prognose f眉r das Gesamtjahr 2025 an und erwartet nun einen Umsatz von 1,61 bis 1,62 Milliarden US-Dollar sowie ein bereinigtes EBITDA von 225 bis 230 Millionen US-Dollar. Dar眉ber hinaus genehmigte der Vorstand ein Aktienr眉ckkaufprogramm in H枚he von 200 Millionen US-Dollar, um Kapital an die Aktion盲re zur眉ckzugeben und die Verw盲sserung durch Mitarbeiteraktienverg眉tungen auszugleichen.
- None.
- Revenue growth rate expected to slow to 22-23% YoY in Q3 2025
- Q3 2025 Adjusted EBITDA guidance suggests sequential decline from Q2
Insights
Remitly delivers standout Q2 with first GAAP profit, 34% revenue growth, and announces $200M buyback amid accelerating metrics.
Remitly's Q2 results mark a pivotal inflection point in the company's financial trajectory, delivering its first quarterly GAAP profit of $6.5 million compared to a $12.1 million loss in the year-ago period. This profitability breakthrough comes alongside exceptional operational metrics, with send volume surging 40% to $18.5 billion and revenue growing 34% to $411.9 million.
The company's customer acquisition engine continues to perform impressively with active customers growing 24% to 8.5 million. Most notably, Remitly achieved the coveted "Rule of 50" performance (when revenue growth percentage plus profit margin exceeds 50%), demonstrating exceptional operational leverage as Adjusted EBITDA jumped 144% to $64 million.
Management's decision to raise full-year guidance signals strong confidence in their business momentum. The new revenue outlook of $1.61-1.62 billion represents 27-28% growth, while the raised Adjusted EBITDA guidance of $225-230 million reflects substantially improved profitability expectations compared to previous forecasts of $195-210 million.
Perhaps most significantly, the newly authorized $200 million share repurchase program represents a major milestone in Remitly's capital allocation strategy. This initiative indicates management's confidence in long-term prospects and provides a mechanism to offset dilution from employee equity compensation while potentially supporting shareholder value. The flexible structure without expiration allows for opportunistic repurchases based on market conditions.
The combination of accelerating growth metrics, achievement of GAAP profitability, and initiation of capital return to shareholders demonstrates Remitly's successful transition from a growth-at-all-costs model to a balanced approach of strong growth with sustainable profitability.
Second quarter send volume up
Second quarter net income was
Board of Directors authorizes
SEATTLE, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of digital financial services that transcend borders, reported results for the second quarter ended June 30, 2025.
鈥淨2 was a defining quarter for Remitly鈥攚e delivered exceptional financial performance, and achieved breakthrough innovation that positions us to shape the future of global financial services,鈥� said Matt Oppenheimer, co-founder and Chief Executive Officer, Remitly. 鈥淲e delivered Rule of 50 performance again along with GAAP profitability. We expect to close 2025 strong and are raising our full year revenue and Adjusted EBITDA outlook.鈥�
Second Quarter 2025 Highlights and Key Operating Data
(All comparisons relative to the second quarter of 2024)
- Active customers increased to 8.5 million, from 6.9 million, up
24% . - Send volume increased to
$18.5 billion , from$13.2 billion , up40% . - Revenue totaled
$411.9 million , compared to$306.4 million , up34% . - Net income was
$6.5 million , compared to a net loss of$12.1 million . - Adjusted EBITDA was
$64.0 million , compared to$26.2 million , up144% .
2025 Financial Outlook
For fiscal year 2025, Remitly currently expects:
- Total revenue in the range of
$1.61 billion to$1.62 billion , representing a growth rate of27% to28% year over year. This outlook reflects an increase from our prior revenue outlook in the range of$1.57 4 billion to$1.58 7 billion. - GAAP net income to be positive for 2025 and for Adjusted EBITDA to be in the range of
$225 million to$230 million . This outlook reflects an increase from our prior Adjusted EBITDA outlook in the range of$195 million to$210 million .
For the third quarter of 2025, Remitly currently expects:
- Total revenue in the range of
$411 million to$413 million , representing a growth rate of22% to23% year over year. - A modest GAAP net income for the third quarter of 2025 and for Adjusted EBITDA to be in the range of
$53 million to$55 million .
Share Repurchase Program
Remitly announced today that its Board of Directors has approved a share repurchase program, pursuant to which Remitly may repurchase up to an aggregate of
Remitly may repurchase shares from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing and total amount of share repurchases will be determined by Remitly in its discretion and will depend on a variety of factors, including business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, alternative investment opportunities, and other considerations. The share repurchase program does not expire and may be suspended, discontinued, or modified at any time without notice at Remitly's discretion. The share repurchase program does not obligate Remitly to acquire any amount of common stock.
Reconciliation of GAAP to Non-GAAP Financial Measures
A reconciliation of accounting principles generally accepted in the United States of America (鈥淕AAP鈥�) to non-GAAP financial measures has been provided in the financial statement tables included in this earnings release. An explanation of these measures is also included below under the heading 鈥淣on-GAAP Financial Measures.鈥� We have not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes within this earnings release because we cannot, without unreasonable effort, calculate certain reconciling items with confidence due to the variability, complexity, and limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA. These items include, but are not limited to, income taxes, stock-based compensation expense, and payroll taxes related to stock-based compensation expense, which are directly impacted by unpredictable fluctuations in the market price of our common stock. The variability of these items could have a significant impact on our future GAAP financial results.
Note: All percentage changes described within this press release are calculated using amounts in the Company鈥檚 Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the 鈥淪EC鈥�), for which revenue and active customers are presented in thousands and send volume is presented in millions. Rounding differences may occur when individually calculating percentages or totals from rounded amounts included within the press release body as compared to the amounts included within the Company鈥檚 SEC filings.
Webcast Information
Remitly will host a webcast at 5:00 p.m. Eastern time on Wednesday, August听6, 2025 to discuss its second quarter 2025 financial results. The live webcast and investor presentation will be accessible on Remitly鈥檚 website at https://ir.remitly.com. A webcast replay will be available on our website at https://ir.remitly.com following the live event.
We have used, and intend to continue to use, the Investor Relations section of our website at https://ir.remitly.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.
Non-GAAP Financial Measures
Some of the financial information and data contained in this earnings release, such as Adjusted EBITDA and non-GAAP operating expenses, have not been prepared in accordance with GAAP.
We regularly review our key business metrics and non-GAAP financial measures to evaluate our performance, identify trends affecting our business, prepare financial projections, and make strategic decisions. We believe that these key business metrics and non-GAAP financial measures provide meaningful supplemental information for management and investors in assessing our historical and future operating performance. Adjusted EBITDA and non-GAAP operating expenses are key output measures used by our management to evaluate our operating performance, inform future operating plans, and make strategic long-term decisions, including those relating to operating expenses and the allocation of internal resources. Remitly believes that the use of Adjusted EBITDA and non-GAAP operating expenses provides additional tools to assess operational performance and trends in, and in comparing Remitly鈥檚 financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors. Remitly鈥檚 non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial measures determined in accordance with GAAP. Because of the limitations of non-GAAP financial measures, you should consider the non-GAAP financial measures presented herein in conjunction with Remitly鈥檚 financial statements and the related notes thereto. Please refer to the non-GAAP reconciliations in this press release for a reconciliation of these non-GAAP financial measures to the most comparable financial measure prepared in accordance with GAAP.
We calculate Adjusted EBITDA as net income (loss) adjusted by (i) interest (income) expense, net, (ii) provision for income taxes, (iii) noncash charges of depreciation and amortization, (iv) other income (expense), net, (v) noncash charges associated with our donation of common stock in connection with our Pledge
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding future events or our future results of operations and financial position, including our fiscal year and third quarter 2025 financial outlook, including forecasted fiscal year and third quarter 2025 revenue, net income (loss), and Adjusted EBITDA, anticipated future expenses and investments, expectations relating to certain of our key financial and operating metrics, our business strategy and plans, our growth, our position and potential opportunities, our share repurchase program, and our objectives for future operations. The words such as 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渃ontinue,鈥� 鈥渃ould,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渓ikely,鈥� 鈥減lan,鈥� 鈥減otential,鈥� 鈥減redict,鈥� 鈥減roject,鈥� 鈥渟eek,鈥� 鈥渟hould,鈥� 鈥渢arget,鈥� 鈥渨ill,鈥� 鈥渨ould,鈥� or similar expressions and the negatives of those terms are intended to identify forward-looking statements. Forward-looking statements are based on management鈥檚 expectations, assumptions, and projections based on information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including risks and uncertainties related to our expectations regarding our revenue, expenses, and other operating results; our ability to acquire new customers and successfully retain existing customers; our ability to develop new products and services in a timely manner; our ability to achieve or sustain our profitability; our ability to maintain and expand our strategic relationships with third parties; our business plan and our ability to effectively manage our growth; anticipated trends, growth rates, and challenges in our business and in the market segments in which we operate; our ability to attract and retain qualified employees; uncertainties regarding the impact of geopolitical and macroeconomic conditions, including currency fluctuations, inflation, regulatory changes (including as may be related to immigration, fiscal and tax policy, foreign trade, or foreign investment), regional and global conflicts or related government sanctions, or legislative or regulatory developments; our ability to maintain the security and availability of our solutions; our ability to maintain our money transmission licenses and other regulatory clearances or obtain new licenses and regulatory clearances; our ability to maintain and expand international operations; and our expectations regarding anticipated technology needs and developments and our ability to address those needs and developments with our solutions. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, our actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Further information on risks that could cause actual results to differ materially from forecasted results is included in our quarterly report on Form 10-Q for the quarter ended June 30, 2025, to be filed with the SEC, and within our annual report on Form 10-K for the year ended December 31, 2024, filed with the SEC, which are or will be available on our website at https://ir.remitly.com and on the SEC鈥檚 website at www.sec.gov. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
About Remitly
Remitly is a trusted provider of digital financial services that transcend borders. With a global footprint spanning more than 170 countries, Remitly鈥檚 digitally native, cross-border payments app delights customers with a fast, reliable, and transparent money movement experience. Building on its strong foundation, Remitly is expanding its suite of products to further its vision and transform lives around the world.
Contacts
Media Inquiries:
[email protected]
Investor Relations:
Luv Sodha
[email protected]
| REMITLY GLOBAL, INC. Condensed Consolidated Statements of Operations (unaudited) | |||||||||||||||
| 听 | Three Months Ended June 30, | 听 | Six Months Ended June 30, | ||||||||||||
| (in thousands, except share and per share data) | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 | 听 | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Revenue | $ | 411,852 | 听 | 听 | $ | 306,423 | 听 | 听 | $ | 773,476 | 听 | 听 | $ | 575,541 | 听 |
| Costs and expenses | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Transaction expenses(1) | 听 | 143,756 | 听 | 听 | 听 | 107,780 | 听 | 听 | 听 | 265,149 | 听 | 听 | 听 | 197,661 | 听 |
| Customer support and operations(1) | 听 | 25,074 | 听 | 听 | 听 | 19,999 | 听 | 听 | 听 | 47,647 | 听 | 听 | 听 | 40,118 | 听 |
| Marketing(1) | 听 | 84,976 | 听 | 听 | 听 | 77,056 | 听 | 听 | 听 | 158,325 | 听 | 听 | 听 | 145,070 | 听 |
| Technology and development(1) | 听 | 77,496 | 听 | 听 | 听 | 67,554 | 听 | 听 | 听 | 151,347 | 听 | 听 | 听 | 130,760 | 听 |
| General and administrative(1) | 听 | 59,581 | 听 | 听 | 听 | 45,889 | 听 | 听 | 听 | 112,410 | 听 | 听 | 听 | 90,062 | 听 |
| Depreciation and amortization | 听 | 6,326 | 听 | 听 | 听 | 3,907 | 听 | 听 | 听 | 11,722 | 听 | 听 | 听 | 7,585 | 听 |
| Total costs and expenses | 听 | 397,209 | 听 | 听 | 听 | 322,185 | 听 | 听 | 听 | 746,600 | 听 | 听 | 听 | 611,256 | 听 |
| Income (loss) from operations | 听 | 14,643 | 听 | 听 | 听 | (15,762 | ) | 听 | 听 | 26,876 | 听 | 听 | 听 | (35,715 | ) |
| Interest income | 听 | 2,061 | 听 | 听 | 听 | 1,942 | 听 | 听 | 听 | 3,848 | 听 | 听 | 听 | 4,168 | 听 |
| Interest expense | 听 | (1,650 | ) | 听 | 听 | (745 | ) | 听 | 听 | (2,949 | ) | 听 | 听 | (1,514 | ) |
| Other (expense) income, net | 听 | (6,940 | ) | 听 | 听 | 5,764 | 听 | 听 | 听 | (4,719 | ) | 听 | 听 | 4,178 | 听 |
| Income (loss) before provision for income taxes | 听 | 8,114 | 听 | 听 | 听 | (8,801 | ) | 听 | 听 | 23,056 | 听 | 听 | 听 | (28,883 | ) |
| Provision for income taxes | 听 | 1,578 | 听 | 听 | 听 | 3,290 | 听 | 听 | 听 | 5,168 | 听 | 听 | 听 | 4,288 | 听 |
| Net income (loss) | $ | 6,536 | 听 | 听 | $ | (12,091 | ) | 听 | $ | 17,888 | 听 | 听 | $ | (33,171 | ) |
| Net income (loss) per share attributable to common stockholders: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Basic | $ | 0.03 | 听 | 听 | $ | (0.06 | ) | 听 | $ | 0.09 | 听 | 听 | $ | (0.17 | ) |
| Diluted | $ | 0.03 | 听 | 听 | $ | (0.06 | ) | 听 | $ | 0.08 | 听 | 听 | $ | (0.17 | ) |
| Weighted-average shares used in computing net income (loss) per share attributable to common stockholders: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Basic | 听 | 204,693,035 | 听 | 听 | 听 | 193,452,628 | 听 | 听 | 听 | 203,226,963 | 听 | 听 | 听 | 191,650,713 | 听 |
| Diluted | 听 | 218,977,561 | 听 | 听 | 听 | 193,452,628 | 听 | 听 | 听 | 218,704,338 | 听 | 听 | 听 | 191,650,713 | 听 |
| 听 |
(1) Exclusive of depreciation and amortization, shown separately.
| REMITLY GLOBAL, INC. Condensed Consolidated Balance Sheets (unaudited) | |||||||
| 听 | June 30, | 听 | December 31, | ||||
| (in thousands) | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Assets | 听 | 听 | 听 | ||||
| Current assets | 听 | 听 | 听 | ||||
| Cash and cash equivalents | $ | 515,896 | 听 | 听 | $ | 368,097 | 听 |
| Disbursement prefunding | 听 | 196,291 | 听 | 听 | 听 | 288,934 | 听 |
| Customer funds receivable, net | 听 | 257,394 | 听 | 听 | 听 | 193,965 | 听 |
| Prepaid expenses and other current assets | 听 | 67,450 | 听 | 听 | 听 | 46,518 | 听 |
| Total current assets | 听 | 1,037,031 | 听 | 听 | 听 | 897,514 | 听 |
| Property and equipment, net | 听 | 47,263 | 听 | 听 | 听 | 31,566 | 听 |
| Operating lease right-of-use assets | 听 | 12,865 | 听 | 听 | 听 | 13,002 | 听 |
| Goodwill | 听 | 54,940 | 听 | 听 | 听 | 54,940 | 听 |
| Intangible assets, net | 听 | 6,294 | 听 | 听 | 听 | 10,463 | 听 |
| Other noncurrent assets, net | 听 | 7,778 | 听 | 听 | 听 | 5,386 | 听 |
| Total assets | $ | 1,166,171 | 听 | 听 | $ | 1,012,871 | 听 |
| Liabilities and stockholders鈥� equity | 听 | 听 | 听 | ||||
| Current liabilities | 听 | 听 | 听 | ||||
| Accounts payable | $ | 18,860 | 听 | 听 | $ | 16,159 | 听 |
| Customer liabilities | 听 | 187,398 | 听 | 听 | 听 | 188,984 | 听 |
| Short-term debt | 听 | 2,669 | 听 | 听 | 听 | 2,468 | 听 |
| Accrued expenses and other current liabilities | 听 | 150,986 | 听 | 听 | 听 | 116,652 | 听 |
| Operating lease liabilities | 听 | 3,836 | 听 | 听 | 听 | 4,745 | 听 |
| Total current liabilities | 听 | 363,749 | 听 | 听 | 听 | 329,008 | 听 |
| Operating lease liabilities, noncurrent | 听 | 25,860 | 听 | 听 | 听 | 9,073 | 听 |
| Other noncurrent liabilities | 听 | 11,640 | 听 | 听 | 听 | 9,319 | 听 |
| Total liabilities | 听 | 401,249 | 听 | 听 | 听 | 347,400 | 听 |
| Commitments and contingencies | 听 | 听 | 听 | ||||
| Stockholders鈥� equity | 听 | 听 | 听 | ||||
| Common stock | 听 | 21 | 听 | 听 | 听 | 20 | 听 |
| Additional paid-in capital | 听 | 1,271,110 | 听 | 听 | 听 | 1,195,390 | 听 |
| Accumulated other comprehensive income (loss) | 听 | 4,184 | 听 | 听 | 听 | (1,658 | ) |
| Accumulated deficit | 听 | (510,393 | ) | 听 | 听 | (528,281 | ) |
| Total stockholders鈥� equity | 听 | 764,922 | 听 | 听 | 听 | 665,471 | 听 |
| Total liabilities and stockholders鈥� equity | $ | 1,166,171 | 听 | 听 | $ | 1,012,871 | 听 |
| REMITLY GLOBAL, INC. Condensed Consolidated Statements of Cash Flows (unaudited) | |||||||
| 听 | Six Months Ended June 30, | ||||||
| (in thousands) | 听 | 2025 | 听 | 听 | 听 | 2024 | 听 |
| Cash flows from operating activities | 听 | 听 | 听 | ||||
| Net income (loss) | $ | 17,888 | 听 | 听 | $ | (33,171 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | 听 | 听 | 听 | ||||
| Depreciation and amortization | 听 | 11,722 | 听 | 听 | 听 | 7,585 | 听 |
| Stock-based compensation expense, net | 听 | 73,858 | 听 | 听 | 听 | 71,245 | 听 |
| Donation of common stock | 听 | 1,866 | 听 | 听 | 听 | 鈥� | 听 |
| Other | 听 | 479 | 听 | 听 | 听 | 195 | 听 |
| Changes in operating assets and liabilities: | 听 | 听 | 听 | ||||
| Disbursement prefunding | 听 | 92,643 | 听 | 听 | 听 | 45,138 | 听 |
| Customer funds receivable | 听 | (55,878 | ) | 听 | 听 | (82,079 | ) |
| Prepaid expenses and other assets | 听 | (19,614 | ) | 听 | 听 | (7,237 | ) |
| Operating lease right-of-use assets | 听 | 3,700 | 听 | 听 | 听 | 2,895 | 听 |
| Accounts payable | 听 | 4,443 | 听 | 听 | 听 | (14,041 | ) |
| Customer liabilities | 听 | (5,146 | ) | 听 | 听 | (10,701 | ) |
| Accrued expenses and other liabilities | 听 | 35,840 | 听 | 听 | 听 | 15,621 | 听 |
| Operating lease liabilities | 听 | 12,293 | 听 | 听 | 听 | (3,359 | ) |
| Net cash provided by (used in) operating activities | 听 | 174,094 | 听 | 听 | 听 | (7,909 | ) |
| Cash flows from investing activities | 听 | 听 | 听 | ||||
| Purchases of property and equipment, and other | 听 | (26,553 | ) | 听 | 听 | (2,076 | ) |
| Capitalized internal-use software costs | 听 | (6,012 | ) | 听 | 听 | (6,494 | ) |
| Net cash used in investing activities | 听 | (32,565 | ) | 听 | 听 | (8,570 | ) |
| Cash flows from financing activities | 听 | 听 | 听 | ||||
| Proceeds from exercise of stock options | 听 | 4,578 | 听 | 听 | 听 | 4,194 | 听 |
| Proceeds from issuance of common stock in connection with ESPP | 听 | 5,768 | 听 | 听 | 听 | 5,004 | 听 |
| Proceeds from revolving credit facility borrowings | 听 | 2,493,000 | 听 | 听 | 听 | 570,000 | 听 |
| Repayments of revolving credit facility borrowings | 听 | (2,493,000 | ) | 听 | 听 | (685,000 | ) |
| Taxes paid related to net share settlement of equity awards | 听 | (11,617 | ) | 听 | 听 | (2,568 | ) |
| Cash paid for settlement of amounts previously held back for acquisition consideration | 听 | 鈥� | 听 | 听 | 听 | (10,261 | ) |
| Payment of debt issuance costs | 听 | (2,628 | ) | 听 | 听 | 鈥� | 听 |
| Net cash used in financing activities | 听 | (3,899 | ) | 听 | 听 | (118,631 | ) |
| Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash | 听 | 10,182 | 听 | 听 | 听 | (1,229 | ) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 听 | 147,812 | 听 | 听 | 听 | (136,339 | ) |
| Cash, cash equivalents, and restricted cash at beginning of period | 听 | 369,817 | 听 | 听 | 听 | 325,029 | 听 |
| Cash, cash equivalents, and restricted cash at end of period | $ | 517,629 | 听 | 听 | $ | 188,690 | 听 |
| Reconciliation of cash, cash equivalents, and restricted cash | 听 | 听 | 听 | ||||
| Cash and cash equivalents | $ | 515,896 | 听 | 听 | $ | 185,187 | 听 |
| Restricted cash included in prepaid expenses and other current assets | 听 | 664 | 听 | 听 | 听 | 2,693 | 听 |
| Restricted cash included in other noncurrent assets, net | 听 | 1,069 | 听 | 听 | 听 | 810 | 听 |
| Total cash, cash equivalents, and restricted cash | $ | 517,629 | 听 | 听 | $ | 188,690 | 听 |
| REMITLY GLOBAL, INC. Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited) | |||||||||||||||
| Reconciliation of net income (loss) to Adjusted EBITDA: | |||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| 听 | Three Months Ended June 30, | 听 | Six Months Ended June 30, | ||||||||||||
| (in thousands) | 听 | 2025 | 听 | 听 | 2024(2) | 听 | 听 | 2025 | 听 | 听 | 2024(2) | ||||
| Net income (loss) | $ | 6,536 | 听 | 听 | $ | (12,091 | ) | 听 | $ | 17,888 | 听 | 听 | $ | (33,171 | ) |
| Add: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Interest income, net | 听 | (411 | ) | 听 | 听 | (1,197 | ) | 听 | 听 | (899 | ) | 听 | 听 | (2,654 | ) |
| Provision for income taxes | 听 | 1,578 | 听 | 听 | 听 | 3,290 | 听 | 听 | 听 | 5,168 | 听 | 听 | 听 | 4,288 | 听 |
| Depreciation and amortization | 听 | 6,326 | 听 | 听 | 听 | 3,907 | 听 | 听 | 听 | 11,722 | 听 | 听 | 听 | 7,585 | 听 |
| Other (income) expense, net | 听 | 6,940 | 听 | 听 | 听 | (5,962 | ) | 听 | 听 | 4,719 | 听 | 听 | 听 | (4,393 | ) |
| Donation of common stock | 听 | 907 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 1,866 | 听 | 听 | 听 | 鈥� | 听 |
| Stock-based compensation expense, net | 听 | 38,066 | 听 | 听 | 听 | 37,157 | 听 | 听 | 听 | 73,858 | 听 | 听 | 听 | 71,245 | 听 |
| Payroll taxes related to stock-based compensation expense, net | 听 | 1,519 | 听 | 听 | 听 | 1,144 | 听 | 听 | 听 | 4,659 | 听 | 听 | 听 | 4,659 | 听 |
| Integration, restructuring, and other costs(1) | 听 | 2,536 | 听 | 听 | 听 | 鈥� | 听 | 听 | 听 | 3,444 | 听 | 听 | 听 | 1,468 | 听 |
| Adjusted EBITDA | $ | 63,997 | 听 | 听 | $ | 26,248 | 听 | 听 | $ | 122,425 | 听 | 听 | $ | 49,027 | 听 |
__________
(1) Integration, restructuring, and other costs for the three and six months ended June 30, 2025 consisted primarily of non-recurring termination benefits. Integration, restructuring, and other costs for the six months ended June 30, 2024 consisted primarily of
(2) As previously announced on February 19, 2025, the Company's presentation of Adjusted EBITDA now excludes the impact of payroll taxes related to stock-based compensation expense, net. Prior period Adjusted EBITDA has been recast to reflect this change.
| Reconciliation of operating expenses to non-GAAP operating expenses: | |||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| 听 | Three Months Ended June 30, | 听 | Six Months Ended June 30, | ||||||||
| (in thousands) | 听 | 2025 | 听 | 2024(1) | 听 | 听 | 2025 | 听 | 2024(1) | ||
| Customer support and operations | $ | 25,074 | 听 | $ | 19,999 | 听 | $ | 47,647 | 听 | $ | 40,118 |
| Excluding: Stock-based compensation expense, net | 听 | 453 | 听 | 听 | 259 | 听 | 听 | 709 | 听 | 听 | 612 |
| Excluding: Payroll taxes related to stock-based compensation expense, net | 听 | 8 | 听 | 听 | 4 | 听 | 听 | 16 | 听 | 听 | 14 |
| Excluding: Integration, restructuring, and other costs | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 鈥� | 听 | 听 | 758 |
| Non-GAAP customer support and operations | $ | 24,613 | 听 | $ | 19,736 | 听 | $ | 46,922 | 听 | $ | 38,734 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| 听 | Three Months Ended June 30, | 听 | Six Months Ended June 30, | ||||||||
| 听 | 听 | 2025 | 听 | 2024(1) | 听 | 听 | 2025 | 听 | 2024(1) | ||
| Marketing | $ | 84,976 | 听 | $ | 77,056 | 听 | $ | 158,325 | 听 | $ | 145,070 |
| Excluding: Stock-based compensation expense, net | 听 | 4,747 | 听 | 听 | 4,521 | 听 | 听 | 8,874 | 听 | 听 | 8,500 |
| Excluding: Payroll taxes related to stock-based compensation expense, net | 听 | 258 | 听 | 听 | 236 | 听 | 听 | 714 | 听 | 听 | 729 |
| Excluding: Integration, restructuring, and other costs | 听 | 175 | 听 | 听 | 鈥� | 听 | 听 | 665 | 听 | 听 | 鈥� |
| Non-GAAP marketing | $ | 79,796 | 听 | $ | 72,299 | 听 | $ | 148,072 | 听 | $ | 135,841 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| 听 | Three Months Ended June 30, | 听 | Six Months Ended June 30, | ||||||||
| 听 | 听 | 2025 | 听 | 2024(1) | 听 | 听 | 2025 | 听 | 2024(1) | ||
| Technology and development | $ | 77,496 | 听 | $ | 67,554 | 听 | $ | 151,347 | 听 | $ | 130,760 |
| Excluding: Stock-based compensation expense, net | 听 | 21,873 | 听 | 听 | 20,354 | 听 | 听 | 43,110 | 听 | 听 | 39,981 |
| Excluding: Payroll taxes related to stock-based compensation expense, net | 听 | 885 | 听 | 听 | 620 | 听 | 听 | 2,866 | 听 | 听 | 2,632 |
| Excluding: Integration, restructuring, and other costs | 听 | 1,382 | 听 | 听 | 鈥� | 听 | 听 | 1,382 | 听 | 听 | 鈥� |
| Non-GAAP technology and development | $ | 53,356 | 听 | $ | 46,580 | 听 | $ | 103,989 | 听 | $ | 88,147 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| 听 | Three Months Ended June 30, | 听 | Six Months Ended June 30, | ||||||||
| 听 | 听 | 2025 | 听 | 2024(1) | 听 | 听 | 2025 | 听 | 2024(1) | ||
| General and administrative | $ | 59,581 | 听 | $ | 45,889 | 听 | $ | 112,410 | 听 | $ | 90,062 |
| Excluding: Stock-based compensation expense, net | 听 | 10,993 | 听 | 听 | 12,023 | 听 | 听 | 21,165 | 听 | 听 | 22,152 |
| Excluding: Payroll taxes related to stock-based compensation expense, net | 听 | 368 | 听 | 听 | 284 | 听 | 听 | 1,063 | 听 | 听 | 1,284 |
| Excluding: Donation of common stock | 听 | 907 | 听 | 听 | 鈥� | 听 | 听 | 1,866 | 听 | 听 | 鈥� |
| Excluding: Integration, restructuring, and other costs | 听 | 979 | 听 | 听 | 鈥� | 听 | 听 | 1,397 | 听 | 听 | 710 |
| Non-GAAP general and administrative | $ | 46,334 | 听 | $ | 33,582 | 听 | $ | 86,919 | 听 | $ | 65,916 |
__________
(1) As previously announced on February 19, 2025, the Company's presentation of non-GAAP operating expenses now excludes the impact of payroll taxes related to stock-based compensation expense, net. Prior period non-GAAP operating expenses have been recast to reflect this change.
FAQ
What were Remitly's (RELY) Q2 2025 earnings results?
How much is Remitly's share buyback program?
What is Remitly's revenue guidance for full year 2025?
How many active customers does Remitly have in Q2 2025?
What was Remitly's send volume in Q2 2025?
