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

Remitly Global (NASDAQ:RELY) announced its earnings results on Wednesday. The financial services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.11, FiscalAI reports. Remitly Global had a return on equity of 8.87% and a net margin of 4.15%.The business had revenue of $452.80 million during the quarter, compared to analysts’ expectations of $438.94 million. During the same quarter last year, the business posted $0.05 earnings per share. The company’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 Trading Down 0.0%

Shares of NASDAQ RELY traded down $0.01 during mid-day trading on Wednesday, hitting $23.73. 6,784,152 shares of the company traded hands, compared to its average volume of 3,527,158. Remitly Global has a 1 year low of $12.08 and a 1 year high of $24.70. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 74.19, a PEG ratio of 0.84 and a beta of 0.40. 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 business has a 50 day moving average of $17.69 and a two-hundred day moving average of $15.32.

Insider Transactions at Remitly Global

In related news, insider Pankaj Sharma sold 10,000 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the sale, the insider directly owned 665,878 shares of the company’s stock, valued at approximately $13,317,560. This represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ankur Sinha sold 9,741 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $16.94, for a total value of $165,012.54. Following the completion of the sale, the insider directly owned 1,180,119 shares of the company’s stock, valued at approximately $19,991,215.86. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,163,520 shares of company stock worth $194,773,102. 6.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Remitly Global

Several hedge funds have recently bought and sold shares of RELY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Remitly Global by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 88,845 shares of the financial services provider’s stock worth $1,848,000 after acquiring an additional 3,870 shares in the last quarter. Millennium Management LLC lifted its stake in Remitly Global by 57.1% in the 1st quarter. Millennium Management LLC now owns 343,352 shares of the financial services provider’s stock worth $7,142,000 after acquiring an additional 124,798 shares in the last quarter. Caxton Associates LLP purchased a new stake in Remitly Global in the 1st quarter worth about $218,000. Focus Partners Wealth acquired a new position in Remitly Global in the 1st quarter worth about $1,458,000. Finally, Cetera Investment Advisers increased its holdings in shares of Remitly Global by 12.0% during the 2nd quarter. Cetera Investment Advisers now owns 12,025 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 1,286 shares during the last quarter. 74.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RELY. Cantor Fitzgerald raised their target price on Remitly Global from $20.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. KeyCorp upped their target price on Remitly Global from $21.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Bank of America assumed coverage on Remitly Global in a report on Tuesday, February 10th. They set a “buy” rating and a $18.00 target price for the company. Citigroup reaffirmed an “outperform” rating on shares of Remitly Global in a report on Thursday, February 19th. Finally, Citizens Jmp upped their target price on Remitly Global from $20.00 to $22.00 and gave the company a “market outperform” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Remitly Global currently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

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.