Remitly Global, Inc. Stock Price, News & Analysis

Salvo Health has launched a virtual health clinic aimed at addressing chronic gut conditions for over 60 million Americans. The company recently secured $10.5 million in seed funding led by Threshold Ventures, along with Torch Capital and Felicis. Salvo Health offers a comprehensive care model, Whole Self Science, that integrates various health disciplines to provide personalized treatment plans. Their approach includes unlimited access to a dedicated care team, emphasizing root cause treatment over conventional methods. The company plans to expand its services across the U.S.

Remitly Global, Inc. (NASDAQ: RELY) reported strong second quarter 2022 results, with active customers rising 43% to 3.4 million and send volume increasing 40% to $7.0 billion. Revenue grew by 42% to $157.3 million, and the company is raising its 2022 financial outlook, anticipating total revenue of $625 million to $630 million, a growth of 36% to 37%. However, a net loss of $38.2 million and an Adjusted EBITDA loss of $(5.3) million highlight ongoing challenges. The leadership remains optimistic about maintaining customer trust and progress on strategic initiatives.

Remitly Global, Inc. (NASDAQ: RELY) announced it will report its second quarter 2022 financial results on August 3, 2022, following the market close. A conference call will take place at 2:00 p.m. PT / 5:00 p.m. ET to discuss results and answer analysts' questions. Remitly, a leader in digital financial services for immigrants, aims to provide safe and reliable money transfer solutions. The earnings call access information is available on their website, and the company encourages participation at least 10 minutes early.

Remitly Global, Inc. (NASDAQ: RELY) has appointed Rina Hahn as Chief Marketing Officer, effective immediately. Hahn, who has been with Remitly since 2018, played a crucial role in customer acquisition and brand development, contributing to a 42% year-over-year growth in active customers in Q1 2022. Previous CMO Rob Singer will assist during the transition until September 2022. Remitly continues to focus on enhancing financial services for immigrants and their families across over 160 countries, aiming to improve efficiency and expand its product offerings.

Remitly Global, Inc. (NASDAQ: RELY) has appointed Hemanth Munipalli as CFO, effective July 18. Munipalli brings over 20 years of finance experience, most recently serving as CFO at Egencia under the Expedia Group. He aims to support Remitly's growth and enhance value for stakeholders. Current CFO Susanna Morgan will remain in her role until Munipalli starts, ensuring a smooth transition until September 2022. CEO Matt Oppenheimer praised Morgan for her contributions, including leading the company through its public offering.

Remitly Global, Inc. (NASDAQ: RELY) announced that its management will present at the William Blair Growth Stock Conference on June 7, 2022, at 11:20 AM Pacific Time. The presentation will be available via live webcast on Remitly’s investor relations website, with a replay accessible afterward. Founded in 2011 and headquartered in Seattle, Remitly provides digital financial services for immigrants, facilitating cross-border remittance in over 160 countries. The company aims to simplify money transfers for families worldwide.

Remitly Global, Inc. (NASDAQ: RELY) has announced that its management will present at the J.P. Morgan Global Technology, Media and Communications Conference on May 24, 2022, at 1:50 PM Pacific Time (4:50 PM Eastern Time). The presentation will be streamed live via Remitly’s investor relations website, with a replay available post-event. Remitly is a digital financial services provider focused on helping immigrants send money securely and transparently across over 160 countries.

Remitly Global (NASDAQ: RELY) announced its participation in the Barclays 2022 Emerging Payments & Fintech Forum on May 17, 2022. The presentation will commence at 12:20 PM Pacific Time and will be available for live streaming via Remitly's investor relations website. Remitly, headquartered in Seattle, provides digital financial services for immigrants in over 160 countries, facilitating safe and transparent cross-border money transfers.

Remitly Global reports a strong first quarter for 2022, with active customers rising 42% YoY to 3 million and send volume increasing 43% YoY to $6.1 billion. Revenues surged 49% YoY to $136 million, prompting the company to raise its 2022 revenue outlook to between $610 million and $620 million, representing a growth rate of 33% to 35% YoY. Despite these strong metrics, the company reported a net loss of $23.3 million. The CFO will depart later this year, but a smooth transition is assured.