RELY

MKT CAP:$4B

Remitly Global, Inc.

Market Cap

$4B

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$20.46+$7.24 (+54.77%)

Apr 23, 2026

Company Details

Remitly Global, Inc. provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 150 countries. The company was incorporated in 2011 and is headquartered in Se...

CEO

Sebastian J. Gunningham

IPO Date

Sep 23, 2021

Website

www.remitly.com/us/en

Key Metrics TTM

Revenue

$1.6B

+29.4% YoY

Net Income

$68M

EPS (Diluted)

$0.31

Free Cash Flow

$296M

Revenue / Share

$7.59

Gross Margin

59.4%

Operating Margin

4.8%

Net Margin

4.2%

FCF Margin

18.1%

P/S

2.7x

P/E

64.9x

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 18, 2026

$1.6B+29.4%EPS $0.31

Q4 2025

Feb 18, 2026

$442M+25.7%EPS $0.19

Q3 2025

Nov 5, 2025

$419M+24.7%EPS $0.04

Q2 2025

Aug 6, 2025

$412M+34.4%EPS $0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$136M	$66M	-$23M
Q2 22	$157M	$80M	-$39M
Q3 22	$169M	$81M	-$36M
Q4 22	$191M	$100M	-$23M
Q1 23	$204M	$110M	-$28M
Q2 23	$234M	$132M	-$18M
Q3 23	$242M	$135M	-$37M
Q4 23	$265M	$156M	-$31M
Q1 24	$269M	$159M	-$20M
Q2 24	$306M	$179M	-$16M
Q3 24	$337M	$199M	$368.0K
Q4 24	$352M	$211M	-$4M
Q1 25	$362M	$218M	$12M
Q2 25	$412M	$243M	$15M
Q3 25	$419M	$246M	$12M
Q4 25	$442M	$264M	$39M

Valuation

Quarter	P/S	P/E
Q1 22	3.3x	—
Q2 22	2.7x	—
Q3 22	3.0x	—
Q4 22	3.1x	—
Q1 23	4.2x	—
Q2 23	4.3x	—
Q3 23	5.4x	—
Q4 23	3.8x	—
Q1 24	3.9x	—
Q2 24	2.2x	—
Q3 24	2.3x	—
Q4 24	3.6x	—
Q1 25	3.1x	—
Q2 25	2.7x	276.1x
Q3 25	2.2x	163.0x
Q4 25	1.8x	42.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$40M	$39M
Q2 22	-$14M	-$15M
Q3 22	-$54M	-$55M
Q4 22	-$77M	-$80M
Q1 23	-$2M	-$4M
Q2 23	-$52M	-$53M
Q3 23	$35M	$32M
Q4 23	-$34M	-$37M
Q1 24	-$57M	-$61M
Q2 24	$49M	$48M
Q3 24	$147M	$143M
Q4 24	$56M	$50M
Q1 25	$133M	$116M
Q2 25	$41M	$26M
Q3 25	$1M	$2M
Q4 25	$150M	$153M

Capital Expenditures

Quarter	CapEx
Q1 22	$2M
Q2 22	$620.0K
Q3 22	$705.0K
Q4 22	$2M
Q1 23	$2M
Q2 23	$702.0K
Q3 23	$3M
Q4 23	$3M
Q1 24	$4M
Q2 24	$1M
Q3 24	$4M
Q4 24	$5M
Q1 25	$17M
Q2 25	$16M
Q3 25	$157.0K
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+49.4%	+59.8%
Q2 22	+41.6%	+74.0%
Q3 22	+39.6%	+53.0%
Q4 22	+41.2%	+40.9%
Q1 23	+49.9%	+45.7%
Q2 23	+48.8%	+28.3%
Q3 23	+42.8%	+36.0%
Q4 23	+38.6%	+38.3%
Q1 24	+32.0%	+24.6%
Q2 24	+30.9%	+27.7%
Q3 24	+39.3%	+20.7%
Q4 24	+32.9%	+20.2%
Q1 25	+34.4%	+20.9%
Q2 25	+34.4%	+23.3%
Q3 25	+24.7%	+21.3%
Q4 25	+25.7%	+13.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$10M	7.1%
Q2 22	$33M	20.7%
Q3 22	$26M	15.2%
Q4 22	$27M	14.3%
Q1 23	$29M	14.3%
Q2 23	$35M	15.0%
Q3 23	$37M	15.1%
Q4 23	$36M	13.6%
Q1 24	$34M	12.7%
Q2 24	$37M	12.1%
Q3 24	$39M	11.7%
Q4 24	$42M	11.8%
Q1 25	$36M	9.9%
Q2 25	$38M	9.2%
Q3 25	$0	0.0%
Q4 25	$81M	18.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$24M	$23M	$41M
Q2 22	$36M	$38M	$44M
Q3 22	$36M	$36M	$43M
Q4 22	$43M	$35M	$43M
Q1 23	$49M	$41M	$44M
Q2 23	$54M	$39M	$54M
Q3 23	$57M	$50M	$61M
Q4 23	$59M	$49M	$75M
Q1 24	$63M	$44M	$68M
Q2 24	$68M	$46M	$77M
Q3 24	$68M	$51M	$75M
Q4 24	$71M	$55M	$84M
Q1 25	$74M	$53M	$73M
Q2 25	$77M	$60M	$85M
Q3 25	$80M	$56M	$92M
Q4 25	$82M	$57M	$93M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	49.4%	-15.4%	34.0
Q2 22	41.6%	-22.7%	18.9
Q3 22	39.6%	-18.1%	21.5
Q4 22	41.2%	-9.2%	32.0
Q1 23	49.9%	-12.0%	37.9
Q2 23	48.8%	-6.5%	42.3
Q3 23	42.8%	-13.0%	29.8
Q4 23	38.6%	-9.6%	29.0
Q1 24	32.0%	-5.8%	26.2
Q2 24	30.9%	-1.4%	29.6
Q3 24	39.3%	2.7%	42.0
Q4 24	32.9%	0.5%	33.4
Q1 25	34.4%	6.0%	40.4
Q2 25	34.4%	3.9%	38.3
Q3 25	24.7%	6.0%	30.7
Q4 25	25.7%	10.3%	36.0

Rule of 40

Revenue Segments

Quarter	Reportable Segment
Q1 25	$362M
Q2 25	$412M
Q3 25	$419M
Q4 25	$442M

Revenue by Geography

Quarter	Canada	Rest of World	United States
Q1 22	$17M	$19M	$99M
Q2 22	$19M	$22M	$117M
Q3 22	$21M	$27M	$122M
Q4 22	$23M	$33M	$135M
Q1 23	$25M	$40M	$139M
Q2 23	$27M	$48M	$159M
Q3 23	$30M	$51M	$161M
Q4 23	$31M	$60M	$173M
Q1 24	$33M	$61M	$175M
Q2 24	$35M	$70M	$202M
Q3 24	$36M	$81M	$219M
Q4 24	$37M	$85M	$229M
Q1 25	$39M	$86M	$237M
Q2 25	$42M	$98M	$272M
Q3 25	$42M	$98M	$280M
Q4 25	$42M	$107M	$294M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$445M	$0	$445M
Q2 22	$430M	$0	$430M
Q3 22	$376M	$0	$376M
Q4 22	$301M	$0	$301M
Q1 23	$244M	$0	$244M
Q2 23	$228M	$0	$228M
Q3 23	$223M	$0	$223M
Q4 23	$324M	$0	$324M
Q1 24	$286M	$0	$286M
Q2 24	$185M	$0	$185M
Q3 24	$324M	$0	$324M
Q4 24	$368M	$0	$368M
Q1 25	$494M	$0	$494M
Q2 25	$516M	$0	$516M
Q3 25	$477M	$0	$477M
Q4 25	$542M	$286M	$829M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	164M	+0.5%	+8.1%
Q2 22	166M	+1.3%	+3.1%
Q3 22	169M	+1.3%	+3.7%
Q4 22	172M	+1.7%	+4.8%
Q1 23	175M	+2.1%	+6.5%
Q2 23	179M	+2.3%	+7.6%
Q3 23	183M	+2.0%	+8.3%
Q4 23	186M	+2.1%	+8.7%
Q1 24	190M	+1.9%	+8.4%
Q2 24	193M	+1.9%	+8.0%
Q3 24	205M	+6.1%	+12.4%
Q4 24	195M	-5.2%	+4.5%
Q1 25	218M	+12.2%	+15.0%
Q2 25	219M	+0.3%	+13.2%
Q3 25	217M	-0.8%	+5.8%
Q4 25	216M	-0.8%	+10.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$75.6K	2K
Q2 22	$87.4K	2K
Q3 22	$94.0K	2K
Q4 22	$70.8K	3K
Q1 23	$75.5K	3K
Q2 23	$86.7K	3K
Q3 23	$89.5K	3K
Q4 23	$98.1K	3K
Q1 24	$99.7K	3K
Q2 24	$113.5K	3K
Q3 24	$124.6K	3K
Q4 24	$125.7K	3K
Q1 25	$129.2K	3K
Q2 25	$147.1K	3K
Q3 25	$149.8K	3K
Q4 25	$138.2K	3K

Revenue / Employee