Remitly Global, Inc. Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Remitly Global, Inc. has an operating margin of -3.1%, meaning the company retains $-3 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -12.1% the prior year.
Remitly Global, Inc.'s revenue surged 33.9% year-over-year to $1.3B, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Remitly Global, Inc. carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.73, Remitly Global, Inc. holds $2.73 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 89/100.
Remitly Global, Inc. converts 14.9% of revenue into free cash flow ($188.5M). This strong cash generation earns a score of 75/100.
Remitly Global, Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Remitly Global, Inc. generates $-5.26 in operating cash flow ($194.5M OCF vs -$37.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Remitly Global, Inc. earns $-12.1 in operating income for every $1 of interest expense (-$39.1M vs $3.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
This page shows Remitly Global, Inc. (RELY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Remitly Global, Inc. generated $1.3B in revenue in fiscal year 2024. This represents an increase of 33.9% from the prior year.
Remitly Global, Inc.'s EBITDA was -$21.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 79.2% from the prior year.
Remitly Global, Inc. generated $188.5M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 433.9% from the prior year.
Remitly Global, Inc. reported -$37.0M in net income in fiscal year 2024. This represents an increase of 68.6% from the prior year.
Remitly Global, Inc. earned $-0.19 per diluted share (EPS) in fiscal year 2024. This represents an increase of 70.8% from the prior year.
Remitly Global, Inc. held $368.1M in cash against $0 in long-term debt as of fiscal year 2024.
Remitly Global, Inc. had 201M shares outstanding in fiscal year 2024. This represents an increase of 6.4% from the prior year.
Remitly Global, Inc.'s operating margin was -3.1% in fiscal year 2024, reflecting core business profitability. This is up 9.0 percentage points from the prior year.
Remitly Global, Inc.'s net profit margin was -2.9% in fiscal year 2024, showing the share of revenue converted to profit. This is up 9.6 percentage points from the prior year.
Remitly Global, Inc. invested $269.8M in research and development in fiscal year 2024. This represents an increase of 22.7% from the prior year.
Remitly Global, Inc. invested $6.0M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 109.9% from the prior year.
RELY Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $419.5M+1.9% | $411.9M+13.9% | $361.6M+2.8% | $351.9M+14.8% | $306.4M+13.9% | $269.1M+1.6% | $264.8M+9.6% | $241.6M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $80.4M+3.8% | $77.5M+4.9% | $73.9M+4.6% | $70.6M+4.5% | $67.6M+6.9% | $63.2M+6.7% | $59.2M+3.9% | $57.0M |
| SG&A Expenses | $56.0M-6.1% | $59.6M+12.8% | $52.8M-3.7% | $54.9M+19.6% | $45.9M+3.9% | $44.2M-9.2% | $48.7M-2.3% | $49.8M |
| Operating Income | $11.8M-19.6% | $14.6M+19.7% | $12.2M+427.2% | -$3.7M+76.3% | -$15.8M+21.0% | -$20.0M+35.6% | -$31.0M+16.0% | -$36.9M |
| Interest Expense | $2.1M+28.2% | $1.6M+27.0% | $1.3M+34.3% | $967K+29.8% | $745K-3.1% | $769K-2.2% | $786K+34.4% | $585K |
| Income Tax | $3.6M+127.8% | $1.6M-56.0% | $3.6M+509.5% | $589K-82.1% | $3.3M+229.7% | $998K-81.6% | $5.4M+1999.6% | $258K |
| Net Income | $8.8M+35.1% | $6.5M-42.4% | $11.4M+298.3% | -$5.7M+52.7% | -$12.1M+42.6% | -$21.1M+39.8% | -$35.0M+1.8% | -$35.7M |
| EPS (Diluted) | $0.04+33.3% | $0.03-40.0% | $0.05+266.7% | $-0.03+50.0% | $-0.06+45.5% | $-0.11+38.9% | $-0.18+10.0% | $-0.20 |
RELY Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+4.1% | $1.2B+6.0% | $1.1B+8.7% | $1.0B+6.6% | $950.2M-12.0% | $1.1B+4.1% | $1.0B+24.4% | $832.8M |
| Current Assets | $1.1B+4.3% | $1.0B+6.0% | $978.7M+9.0% | $897.5M+6.8% | $840.6M-13.5% | $972.0M+4.3% | $932.1M+27.9% | $728.8M |
| Cash & Equivalents | $476.9M-7.6% | $515.9M+4.5% | $493.9M+34.2% | $368.1M+98.8% | $185.2M-35.2% | $286.0M-11.7% | $323.7M+45.0% | $223.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $54.9M0.0% | $54.9M0.0% | $54.9M0.0% | $54.9M0.0% | $54.9M0.0% | $54.9M0.0% | $54.9M0.0% | $54.9M |
| Total Liabilities | $416.5M+3.8% | $401.2M+6.4% | $377.1M+8.6% | $347.4M-6.4% | $371.3M-29.9% | $529.8M+4.5% | $507.0M+65.2% | $307.0M |
| Current Liabilities | $376.1M+3.4% | $363.7M+3.3% | $352.2M+7.0% | $329.0M-3.8% | $341.8M-7.1% | $367.8M+0.3% | $366.8M+22.1% | $300.4M |
| Long-Term Debt | N/A | N/A | N/A | $0-100.0% | $15.0M-90.0% | $150.0M+15.4% | $130.0M | N/A |
| Total Equity | $797.2M+4.2% | $764.9M+5.7% | $723.5M+8.7% | $665.5M+15.0% | $578.9M+5.4% | $549.4M+3.8% | $529.3M+0.7% | $525.8M |
| Retained Earnings | -$501.6M+1.7% | -$510.4M+1.3% | -$516.9M+2.1% | -$528.3M-0.7% | -$524.5M-2.4% | -$512.4M-4.3% | -$491.3M-7.7% | -$456.3M |
RELY Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.4M-96.7% | $41.2M-69.0% | $132.9M+138.9% | $55.6M+13.8% | $48.9M+186.1% | -$56.8M-99.9% | -$28.4M-197.9% | $29.0M |
| Capital Expenditures | -$3.5M-127.7% | $12.6M-9.8% | $14.0M+397.6% | $2.8M+148.1% | $1.1M+19.7% | $945K+60.4% | $589K-16.1% | $702K |
| Free Cash Flow | -$2.1M-107.4% | $28.6M-76.0% | $118.9M+125.1% | $52.8M+10.6% | $47.8M+182.7% | -$57.8M-99.1% | -$29.0M-202.4% | $28.3M |
| Investing Cash Flow | -$19.0M-21.5% | -$15.7M+7.4% | -$16.9M-223.9% | -$5.2M-22.7% | -$4.3M+1.3% | -$4.3M-66.8% | -$2.6M+0.8% | -$2.6M |
| Financing Cash Flow | -$19.8M-80.5% | -$11.0M-255.1% | $7.1M+384.6% | $1.5M+101.0% | -$144.8M-654.2% | $26.1M-79.9% | $130.1M+543.2% | -$29.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
RELY Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 2.8%-0.8pp | 3.6%+0.2pp | 3.4%+4.4pp | -1.1%+4.1pp | -5.1%+2.3pp | -7.4%+4.3pp | -11.7%+3.6pp | -15.3% |
| Net Margin | 2.1%+0.5pp | 1.6%-1.5pp | 3.1%+4.8pp | -1.6%+2.3pp | -4.0%+3.9pp | -7.8%+5.4pp | -13.2%+1.5pp | -14.8% |
| Return on Equity | 1.1%+0.3pp | 0.9%-0.7pp | 1.6%+1.3pp | 0.3% | N/A | N/A | N/A | N/A |
| Return on Assets | 0.7%+0.2pp | 0.6%-0.5pp | 1.0%+1.6pp | -0.6%+0.7pp | -1.3%+0.7pp | -1.9%+1.4pp | -3.4%+0.9pp | -4.3% |
| Current Ratio | 2.88+0.0 | 2.85+0.1 | 2.78+0.1 | 2.73+0.3 | 2.46-0.2 | 2.64+0.1 | 2.54+0.1 | 2.43 |
| Debt-to-Equity | 0.520.0 | 0.520.0 | 0.52+0.5 | 0.00-0.0 | 0.03-0.2 | 0.27+0.0 | 0.25-0.3 | 0.58 |
| FCF Margin | -0.5%-7.4pp | 6.9%-25.9pp | 32.9%+17.9pp | 15.0%-0.6pp | 15.6%+37.1pp | -21.5%-10.5pp | -11.0%-22.7pp | 11.7% |
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Frequently Asked Questions
What is Remitly Global, Inc.'s annual revenue?
Remitly Global, Inc. (RELY) reported $1.3B in total revenue for fiscal year 2024. This represents a 33.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Remitly Global, Inc.'s revenue growing?
Remitly Global, Inc. (RELY) revenue grew by 33.9% year-over-year, from $944.3M to $1.3B in fiscal year 2024.
Is Remitly Global, Inc. profitable?
No, Remitly Global, Inc. (RELY) reported a net income of -$37.0M in fiscal year 2024, with a net profit margin of -2.9%.
What is Remitly Global, Inc.'s earnings per share (EPS)?
Remitly Global, Inc. (RELY) reported diluted earnings per share of $-0.19 for fiscal year 2024. This represents a 70.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Remitly Global, Inc.'s EBITDA?
Remitly Global, Inc. (RELY) had EBITDA of -$21.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Remitly Global, Inc. have?
As of fiscal year 2024, Remitly Global, Inc. (RELY) had $368.1M in cash and equivalents against $0 in long-term debt.
What is Remitly Global, Inc.'s operating margin?
Remitly Global, Inc. (RELY) had an operating margin of -3.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Remitly Global, Inc.'s net profit margin?
Remitly Global, Inc. (RELY) had a net profit margin of -2.9% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Remitly Global, Inc.'s free cash flow?
Remitly Global, Inc. (RELY) generated $188.5M in free cash flow during fiscal year 2024. This represents a 433.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Remitly Global, Inc.'s operating cash flow?
Remitly Global, Inc. (RELY) generated $194.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Remitly Global, Inc.'s total assets?
Remitly Global, Inc. (RELY) had $1.0B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Remitly Global, Inc.'s capital expenditures?
Remitly Global, Inc. (RELY) invested $6.0M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Remitly Global, Inc. spend on research and development?
Remitly Global, Inc. (RELY) invested $269.8M in research and development during fiscal year 2024.
How many shares does Remitly Global, Inc. have outstanding?
Remitly Global, Inc. (RELY) had 201M shares outstanding as of fiscal year 2024.
What is Remitly Global, Inc.'s current ratio?
Remitly Global, Inc. (RELY) had a current ratio of 2.73 as of fiscal year 2024, which is generally considered healthy.
What is Remitly Global, Inc.'s debt-to-equity ratio?
Remitly Global, Inc. (RELY) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Remitly Global, Inc.'s return on assets (ROA)?
Remitly Global, Inc. (RELY) had a return on assets of -3.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Remitly Global, Inc.'s Piotroski F-Score?
Remitly Global, Inc. (RELY) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Remitly Global, Inc.'s earnings high quality?
Remitly Global, Inc. (RELY) has an earnings quality ratio of -5.26x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Remitly Global, Inc. cover its interest payments?
Remitly Global, Inc. (RELY) has an interest coverage ratio of -12.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Remitly Global, Inc.?
Remitly Global, Inc. (RELY) scores 73 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.