Remitly Global, Inc. Financials
Remitly Global, Inc. (RELY) reported $1.6B in revenue for fiscal year 2025, up 29.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Cash conversion and operating leverage have become the dominant mechanics, turning a growing transaction base into positive earnings and liquidity.
In FY2025, operating cash flow reached$325M against$67.9M of net income, showing that accounting profit materially understated cash generation. Free cash flow of$295.7M after$29.4M of capital expenditures means most internally generated cash remained available after reinvestment.
The company moved from a
Cash of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Remitly Global, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Remitly Global, Inc. has an operating margin of 4.7%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 35/100, indicating healthy but not exceptional operating efficiency. This is up from -3.1% the prior year.
Remitly Global, Inc.'s revenue surged 29.4% year-over-year to $1.6B, reflecting rapid business expansion. This strong growth earns a score of 90/100.
Remitly Global, Inc. carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.30, Remitly Global, Inc. holds $3.30 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 80/100.
Remitly Global, Inc. converts 18.1% of revenue into free cash flow ($295.7M). This strong cash generation earns a score of 75/100.
Remitly Global, Inc.'s ROE of 7.8% shows moderate profitability relative to equity, earning a score of 33/100. This is up from -5.6% the prior year.
Remitly Global, Inc. scores 7.00, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.3B) relative to total liabilities ($589.9M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Remitly Global, Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Remitly Global, Inc. generates $4.79 in operating cash flow ($325.1M OCF vs $67.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Remitly Global, Inc. earns $10.18 in operating income for every $1 of interest expense ($77.5M vs $7.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Remitly Global, Inc. generated $1.6B in revenue in fiscal year 2025. This represents an increase of 29.4% from the prior year.
Remitly Global, Inc.'s EBITDA was $102.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 587.4% from the prior year.
Remitly Global, Inc. reported $67.9M in net income in fiscal year 2025. This represents an increase of 283.7% from the prior year.
Remitly Global, Inc. earned $0.31 per diluted share (EPS) in fiscal year 2025. This represents an increase of 263.2% from the prior year.
Cash & Balance Sheet
Remitly Global, Inc. generated $295.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 180.0% from the prior year.
Remitly Global, Inc. held $542.4M in cash against $155.0M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Remitly Global, Inc.'s operating margin was 4.7% in fiscal year 2025, reflecting core business profitability. This is up 7.8 percentage points from the prior year.
Remitly Global, Inc.'s net profit margin was 4.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.1 percentage points from the prior year.
Remitly Global, Inc.'s ROE was 7.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 13.4 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Remitly Global, Inc. invested $313.9M in research and development in fiscal year 2025. This represents an increase of 16.3% from the prior year.
Remitly Global, Inc. spent $23.9M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Remitly Global, Inc. invested $29.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 390.7% from the prior year.
RELY Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.6B+29.4% | $1.3B+33.9% | $944.3M+44.5% | $653.6M+42.5% | $458.6M+78.5% | $257.0M+103.0% | $126.6M |
| R&D Expenses | $316.2M | $313.9M+16.3% | $269.8M+22.7% | $219.9M+58.6% | $138.7M+116.4% | $64.1M+57.2% | $40.8M+27.4% | $32.0M |
| SG&A Expenses | $223.8M | $225.1M+14.9% | $195.9M+9.2% | $179.4M+36.7% | $131.3M+85.0% | $70.9M+124.1% | $31.7M+23.4% | $25.7M |
| Operating Income | $171.0M | $77.5M+298.2% | -$39.1M+65.8% | -$114.2M+5.7% | -$121.0M-204.7% | -$39.7M-36.1% | -$29.2M+42.3% | -$50.6M |
| Interest Expense | $10.3M | $7.6M+134.9% | $3.2M+37.8% | $2.4M+80.6% | $1.3M+3.7% | $1.3M+5.6% | $1.2M-26.1% | $1.6M |
| Income Tax | -$139.7M | $3.7M-45.1% | $6.7M+14.0% | $5.9M+465.9% | $1.0M0.0% | $1.0M-10.3% | $1.2M+349.0% | $259K |
| Net Income | $305.0M | $67.9M+283.7% | -$37.0M+68.6% | -$117.8M-3.4% | -$114.0M-194.2% | -$38.8M-19.0% | -$32.6M+36.6% | -$51.4M |
| EPS (Diluted) | — | $0.31+263.2% | -$0.19+70.8% | -$0.65+4.4% | -$0.68 | -$0.64 | -$1.52+49.0% | -$2.98 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RELY Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B+44.0% | $1.0B-2.3% | $1.0B+48.9% | $696.0M+11.2% | $625.7M+72.4% | $363.0M | N/A |
| Current Assets | $1.3B+46.6% | $897.5M-3.7% | $932.1M+39.2% | $669.4M+10.2% | $607.6M+75.9% | $345.3M | N/A |
| Cash & Equivalents | $542.4M+47.4% | $368.1M+13.7% | $323.7M+7.7% | $300.6M-25.4% | $403.3M+116.0% | $186.7M+2.4% | $182.4M |
| Goodwill | $54.9M0.0% | $54.9M0.0% | $54.9M | $0 | N/A | N/A | N/A |
| Total Liabilities | $589.9M+69.8% | $347.4M-31.5% | $507.0M+134.9% | $215.9M+48.5% | $145.3M-74.7% | $574.3M | N/A |
| Current Liabilities | $399.1M+21.3% | $329.0M-10.3% | $366.8M+75.4% | $209.1M+47.7% | $141.6M-22.1% | $181.8M | N/A |
| Long-Term Debt | $155.0M | N/A | $130.0M | $0 | N/A | N/A | N/A |
| Total Equity | $868.8M+30.6% | $665.5M+25.7% | $529.3M+10.3% | $480.1M-0.1% | $480.3M+327.3% | -$211.3M-13.1% | -$186.8M |
| Retained Earnings | -$460.3M+12.9% | -$528.3M-7.5% | -$491.3M-31.6% | -$373.5M-43.9% | -$259.4M-17.6% | -$220.7M | N/A |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable.
RELY Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $406.1M | $325.1M+191.3% | $111.6M+67.0% | $66.8M+161.5% | -$108.7M-490.8% | -$18.4M+83.9% | -$114.2M-1454.0% | $8.4M |
| Capital Expenditures | $18.1M | $29.4M+390.7% | $6.0M+109.9% | $2.9M-22.3% | $3.7M+88.1% | $2.0M-5.2% | $2.1M-59.1% | $5.0M |
| Free Cash Flow | $388.0M | $295.7M+180.0% | $105.6M+65.1% | $63.9M+156.9% | -$112.3M-452.1% | -$20.3M+82.5% | -$116.3M-3533.9% | $3.4M |
| Investing Cash Flow | -$57.7M | -$69.9M-251.7% | -$19.9M+60.3% | -$50.0M-584.6% | -$7.3M-61.2% | -$4.5M-3.8% | -$4.4M+39.4% | -$7.2M |
| Financing Cash Flow | -$185.1M | -$89.8M-111.9% | -$42.4M-777.4% | $6.3M-57.1% | $14.6M-93.9% | $238.2M+94.9% | $122.2M+4.4% | $117.0M |
| Share Buybacks | $89.1M | $23.9M | $0 | $0 | N/A | $0 | $0-100.0% | $7.0M |
Not reported in any period shown, so not listed: Dividends Paid.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RELY Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Operating Margin | 4.7%+7.8pp | -3.1%+9.0pp | -12.1%+6.4pp | -18.5%-9.9pp | -8.7%+2.7pp | -11.4%+28.6pp | -40.0% |
| Net Margin | 4.2%+7.1pp | -2.9%+9.6pp | -12.5%+5.0pp | -17.4%-9.0pp | -8.5%+4.2pp | -12.7%+27.9pp | -40.6% |
| Return on Equity | 7.8%+13.4pp | -5.6%+16.7pp | -22.3%+1.5pp | -23.8%-15.7pp | -8.1% | N/A | N/A |
| Return on Assets | 4.7%+8.3pp | -3.6%+7.7pp | -11.4%+5.0pp | -16.4%-10.2pp | -6.2%+2.8pp | -9.0% | N/A |
| Current Ratio | 3.30+0.6x | 2.73+0.2x | 2.54-0.7x | 3.20-1.1x | 4.29+2.4x | 1.90 | N/A |
| Debt-to-Equity | 0.18-0.3x | 0.52+0.3x | 0.25+0.2x | 0.00-0.3x | 0.30 | N/A | N/A |
| FCF Margin | 18.1%+9.7pp | 8.3%+1.6pp | 6.8%+24.0pp | -17.2%-12.8pp | -4.4%+40.8pp | -45.3%-47.9pp | 2.7% |
Not reported in any period shown, so not listed: Gross Margin.
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Where Remitly Global, Inc. Ranks
Frequently Asked Questions
What is Remitly Global, Inc.'s annual revenue?
Remitly Global, Inc. (RELY) reported $1.6B in total revenue for fiscal year 2025. This represents a 29.4% 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 29.4% year-over-year, from $1.3B to $1.6B in fiscal year 2025.
Is Remitly Global, Inc. profitable?
Yes, Remitly Global, Inc. (RELY) reported a net income of $67.9M in fiscal year 2025, with a net profit margin of 4.2%.
What is Remitly Global, Inc.'s EBITDA?
Remitly Global, Inc. (RELY) had EBITDA of $102.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Remitly Global, Inc. have?
As of fiscal year 2025, Remitly Global, Inc. (RELY) had $542.4M in cash and equivalents against $155.0M in long-term debt.
What is Remitly Global, Inc.'s operating margin?
Remitly Global, Inc. (RELY) had an operating margin of 4.7% in fiscal year 2025, 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 4.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Remitly Global, Inc.'s return on equity (ROE)?
Remitly Global, Inc. (RELY) has a return on equity of 7.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Remitly Global, Inc.'s free cash flow?
Remitly Global, Inc. (RELY) generated $295.7M in free cash flow during fiscal year 2025. This represents a 180.0% 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 $325.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Remitly Global, Inc.'s total assets?
Remitly Global, Inc. (RELY) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Remitly Global, Inc.'s capital expenditures?
Remitly Global, Inc. (RELY) invested $29.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Remitly Global, Inc. spend on research and development?
Remitly Global, Inc. (RELY) invested $313.9M in research and development during fiscal year 2025.
What is Remitly Global, Inc.'s current ratio?
Remitly Global, Inc. (RELY) had a current ratio of 3.30 as of fiscal year 2025, 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 0.18 as of fiscal year 2025, 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 4.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Remitly Global, Inc.'s Altman Z-Score?
Remitly Global, Inc. (RELY) has an Altman Z-Score of 7.00, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Remitly Global, Inc.'s Piotroski F-Score?
Remitly Global, Inc. (RELY) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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 4.79x, considered cash-backed (high 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 10.18x, meaning it can comfortably 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 69 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.