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Remitly Reports Second Quarter 2025 Results Above Outlook and Raises Full Year 2025 Outlook

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Remitly (NASDAQ: RELY) reported outstanding Q2 2025 results, achieving significant growth and profitability milestones. The digital financial services provider saw send volume surge 40% to $18.5 billion and revenue increase 34% to $411.9 million year-over-year. The company posted its first GAAP net income of $6.5 million, compared to a $12.1 million loss in Q2 2024.

Active customers grew 24% to 8.5 million, while Adjusted EBITDA jumped 144% to $64.0 million. Following these strong results, Remitly raised its full-year 2025 outlook, projecting revenue of $1.61-1.62 billion and Adjusted EBITDA of $225-230 million. Additionally, the Board authorized a $200 million share repurchase program to return capital to shareholders and offset dilution from employee equity compensation.

Remitly (NASDAQ: RELY) ha riportato risultati eccezionali per il secondo trimestre del 2025, raggiungendo importanti traguardi di crescita e redditività. Il fornitore di servizi finanziari digitali ha registrato un aumento del volume di invii del 40%, arrivando a 18,5 miliardi di dollari e un incremento dei ricavi del 34%, pari a 411,9 milioni di dollari su base annua. L'azienda ha ottenuto il suo primo utile netto GAAP di 6,5 milioni di dollari, rispetto a una perdita di 12,1 milioni di dollari nel secondo trimestre del 2024.

I clienti attivi sono cresciuti del 24%, raggiungendo 8,5 milioni, mentre l'EBITDA rettificato è aumentato del 144%, arrivando a 64,0 milioni di dollari. A seguito di questi risultati solidi, Remitly ha rivisto al rialzo le previsioni per l'intero anno 2025, stimando ricavi tra 1,61 e 1,62 miliardi di dollari e un EBITDA rettificato tra 225 e 230 milioni di dollari. Inoltre, il Consiglio di Amministrazione ha autorizzato un programma di riacquisto azionario da 200 milioni di dollari per restituire capitale agli azionisti e compensare la diluizione derivante dalla compensazione azionaria dei dipendenti.

Remitly (NASDAQ: RELY) reportó resultados sobresalientes en el segundo trimestre de 2025, alcanzando hitos significativos de crecimiento y rentabilidad. El proveedor de servicios financieros digitales experimentó un aumento del volumen de envíos del 40% hasta 18,5 mil millones de dólares y un incremento de ingresos del 34% hasta 411,9 millones de dólares interanual. La compañía registró su primer ingreso neto GAAP de 6,5 millones de dólares, en comparación con una pérdida de 12,1 millones en el segundo trimestre de 2024.

Los clientes activos crecieron un 24% hasta 8,5 millones, mientras que el EBITDA ajustado aumentó un 144%, alcanzando 64,0 millones de dólares. Tras estos sólidos resultados, Remitly elevó sus perspectivas para todo el año 2025, proyectando ingresos de 1,61 a 1,62 mil millones de dólares y un EBITDA ajustado de 225 a 230 millones de dólares. Además, la Junta autorizó un programa de recompra de acciones de 200 millones de dólares para devolver capital a los accionistas y compensar la dilución por la compensación en acciones a empleados.

Remitly (NASDAQ: RELY)는 2025년 2분기 뛰어난 실적을 보고하며 성장과 수익성에서 중요한 이정표를 달성했습니다. 디지털 금융 서비스 제공업체는 송금량이 40% 증가하여 185억 달러에 달했고, 매출은 전년 대비 34% 증가한 4억 1,190만 달러를 기록했습니다. 회사는 2024년 2분기 1,210만 달러 손실에서 벗어나 첫 GAAP 순이익 650만 달러를 기록했습니다.

활성 고객 수는 24% 증가하여 850만 명에 이르렀고, 조정 EBITDA는 144% 증가하여 6,400만 달러를 기록했습니다. 이러한 견고한 실적에 힘입어 Remitly는 2025년 연간 전망을 상향 조정하여 매출 16억 1천만~16억 2천만 달러, 조정 EBITDA 2억 2,500만~2억 3,000만 달러를 예상했습니다. 또한 이사회는 직원 주식 보상에 따른 희석 효과를 상쇄하고 주주에게 자본을 환원하기 위해 2억 달러 규모의 자사주 매입 프로그램을 승인했습니다.

Remitly (NASDAQ : RELY) a annoncé des résultats exceptionnels pour le deuxième trimestre 2025, atteignant des jalons significatifs en matière de croissance et de rentabilité. Le fournisseur de services financiers numériques a vu son volume de transferts augmenter de 40 % pour atteindre 18,5 milliards de dollars et son chiffre d'affaires croître de 34 % pour s'établir à 411,9 millions de dollars en glissement annuel. La société a enregistré son premier bénéfice net selon les normes GAAP de 6,5 millions de dollars, contre une perte de 12,1 millions de dollars au deuxième trimestre 2024.

Le nombre de clients actifs a augmenté de 24 % pour atteindre 8,5 millions, tandis que l'EBITDA ajusté a bondi de 144 % pour atteindre 64,0 millions de dollars. Suite à ces résultats solides, Remitly a relevé ses prévisions pour l'ensemble de l'année 2025, anticipant un chiffre d'affaires compris entre 1,61 et 1,62 milliard de dollars et un EBITDA ajusté entre 225 et 230 millions de dollars. De plus, le conseil d'administration a autorisé un programme de rachat d'actions de 200 millions de dollars afin de restituer du capital aux actionnaires et compenser la dilution liée à la rémunération en actions des employés.

Remitly (NASDAQ: RELY) meldete herausragende Ergebnisse für das zweite Quartal 2025 und erreichte bedeutende Wachstums- und Profitabilitätsmeilensteine. Der digitale Finanzdienstleister verzeichnete einen Anstieg des Versandvolumens um 40 % auf 18,5 Milliarden US-Dollar sowie einen Umsatzanstieg um 34 % auf 411,9 Millionen US-Dollar im Jahresvergleich. Das Unternehmen erzielte erstmals einen GAAP-Nettogewinn von 6,5 Millionen US-Dollar, nachdem im zweiten Quartal 2024 noch ein Verlust von 12,1 Millionen US-Dollar verzeichnet wurde.

Die aktiven Kunden stiegen um 24 % auf 8,5 Millionen, während das bereinigte EBITDA um 144 % auf 64,0 Millionen US-Dollar zunahm. Aufgrund dieser starken Ergebnisse hob Remitly seine Prognose für das Gesamtjahr 2025 an und erwartet nun einen Umsatz von 1,61 bis 1,62 Milliarden US-Dollar sowie ein bereinigtes EBITDA von 225 bis 230 Millionen US-Dollar. Darüber hinaus genehmigte der Vorstand ein Aktienrückkaufprogramm in Höhe von 200 Millionen US-Dollar, um Kapital an die Aktionäre zurückzugeben und die Verwässerung durch Mitarbeiteraktienvergütungen auszugleichen.

Positive
  • None.
Negative
  • Revenue growth rate expected to slow to 22-23% YoY in Q3 2025
  • Q3 2025 Adjusted EBITDA guidance suggests sequential decline from Q2

Insights

Remitly delivers standout Q2 with first GAAP profit, 34% revenue growth, and announces $200M buyback amid accelerating metrics.

Remitly's Q2 results mark a pivotal inflection point in the company's financial trajectory, delivering its first quarterly GAAP profit of $6.5 million compared to a $12.1 million loss in the year-ago period. This profitability breakthrough comes alongside exceptional operational metrics, with send volume surging 40% to $18.5 billion and revenue growing 34% to $411.9 million.

The company's customer acquisition engine continues to perform impressively with active customers growing 24% to 8.5 million. Most notably, Remitly achieved the coveted "Rule of 50" performance (when revenue growth percentage plus profit margin exceeds 50%), demonstrating exceptional operational leverage as Adjusted EBITDA jumped 144% to $64 million.

Management's decision to raise full-year guidance signals strong confidence in their business momentum. The new revenue outlook of $1.61-1.62 billion represents 27-28% growth, while the raised Adjusted EBITDA guidance of $225-230 million reflects substantially improved profitability expectations compared to previous forecasts of $195-210 million.

Perhaps most significantly, the newly authorized $200 million share repurchase program represents a major milestone in Remitly's capital allocation strategy. This initiative indicates management's confidence in long-term prospects and provides a mechanism to offset dilution from employee equity compensation while potentially supporting shareholder value. The flexible structure without expiration allows for opportunistic repurchases based on market conditions.

The combination of accelerating growth metrics, achievement of GAAP profitability, and initiation of capital return to shareholders demonstrates Remitly's successful transition from a growth-at-all-costs model to a balanced approach of strong growth with sustainable profitability.

Second quarter send volume up 40% and revenue up 34% year over year 
Second quarter net income was $6.5 million and Adjusted EBITDA was $64.0 million 
Board of Directors authorizes $200 million share repurchase program

SEATTLE, Aug. 06, 2025 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of digital financial services that transcend borders, reported results for the second quarter ended June 30, 2025.

“Q2 was a defining quarter for Remitly—we delivered exceptional financial performance, and achieved breakthrough innovation that positions us to shape the future of global financial services,” said Matt Oppenheimer, co-founder and Chief Executive Officer, Remitly. “We delivered Rule of 50 performance again along with GAAP profitability. We expect to close 2025 strong and are raising our full year revenue and Adjusted EBITDA outlook.”

Second Quarter 2025 Highlights and Key Operating Data
(All comparisons relative to the second quarter of 2024)

  • Active customers increased to 8.5 million, from 6.9 million, up 24%.
  • Send volume increased to $18.5 billion, from $13.2 billion, up 40%.
  • Revenue totaled $411.9 million, compared to $306.4 million, up 34%.
  • Net income was $6.5 million, compared to a net loss of $12.1 million.
  • Adjusted EBITDA was $64.0 million, compared to $26.2 million, up 144%.

2025 Financial Outlook
For fiscal year 2025, Remitly currently expects:

  • Total revenue in the range of $1.61 billion to $1.62 billion, representing a growth rate of 27% to 28% year over year. This outlook reflects an increase from our prior revenue outlook in the range of $1.574 billion to $1.587 billion.
  • GAAP net income to be positive for 2025 and for Adjusted EBITDA to be in the range of $225 million to $230 million. This outlook reflects an increase from our prior Adjusted EBITDA outlook in the range of $195 million to $210 million.

For the third quarter of 2025, Remitly currently expects:

  • Total revenue in the range of $411 million to $413 million, representing a growth rate of 22% to 23% year over year.
  • A modest GAAP net income for the third quarter of 2025 and for Adjusted EBITDA to be in the range of $53 million to $55 million.

Share Repurchase Program
Remitly announced today that its Board of Directors has approved a share repurchase program, pursuant to which Remitly may repurchase up to an aggregate of $200 million of its outstanding common stock. Remitly intends to opportunistically repurchase shares based on market conditions, providing a way to return capital to stockholders and offset a portion of dilution associated with our employee equity compensation, consistent with our disciplined capital allocation approach.

Remitly may repurchase shares from time to time through open market purchases, in privately negotiated transactions, or by other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, in accordance with applicable securities laws and other restrictions. The timing and total amount of share repurchases will be determined by Remitly in its discretion and will depend on a variety of factors, including business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, alternative investment opportunities, and other considerations. The share repurchase program does not expire and may be suspended, discontinued, or modified at any time without notice at Remitly's discretion. The share repurchase program does not obligate Remitly to acquire any amount of common stock.

Reconciliation of GAAP to Non-GAAP Financial Measures
A reconciliation of accounting principles generally accepted in the United States of America (“GAAP”) to non-GAAP financial measures has been provided in the financial statement tables included in this earnings release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.” We have not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) or to forecasted GAAP income (loss) before income taxes within this earnings release because we cannot, without unreasonable effort, calculate certain reconciling items with confidence due to the variability, complexity, and limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA. These items include, but are not limited to, income taxes, stock-based compensation expense, and payroll taxes related to stock-based compensation expense, which are directly impacted by unpredictable fluctuations in the market price of our common stock. The variability of these items could have a significant impact on our future GAAP financial results.

Note: All percentage changes described within this press release are calculated using amounts in the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”), for which revenue and active customers are presented in thousands and send volume is presented in millions. Rounding differences may occur when individually calculating percentages or totals from rounded amounts included within the press release body as compared to the amounts included within the Company’s SEC filings.

Webcast Information
Remitly will host a webcast at 5:00 p.m. Eastern time on Wednesday, August 6, 2025 to discuss its second quarter 2025 financial results. The live webcast and investor presentation will be accessible on Remitly’s website at https://ir.remitly.com. A webcast replay will be available on our website at https://ir.remitly.com following the live event.

We have used, and intend to continue to use, the Investor Relations section of our website at https://ir.remitly.com as a means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD.

Non-GAAP Financial Measures
Some of the financial information and data contained in this earnings release, such as Adjusted EBITDA and non-GAAP operating expenses, have not been prepared in accordance with GAAP.

We regularly review our key business metrics and non-GAAP financial measures to evaluate our performance, identify trends affecting our business, prepare financial projections, and make strategic decisions. We believe that these key business metrics and non-GAAP financial measures provide meaningful supplemental information for management and investors in assessing our historical and future operating performance. Adjusted EBITDA and non-GAAP operating expenses are key output measures used by our management to evaluate our operating performance, inform future operating plans, and make strategic long-term decisions, including those relating to operating expenses and the allocation of internal resources. Remitly believes that the use of Adjusted EBITDA and non-GAAP operating expenses provides additional tools to assess operational performance and trends in, and in comparing Remitly’s financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors. Remitly’s non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for, or superior to, financial measures determined in accordance with GAAP. Because of the limitations of non-GAAP financial measures, you should consider the non-GAAP financial measures presented herein in conjunction with Remitly’s financial statements and the related notes thereto. Please refer to the non-GAAP reconciliations in this press release for a reconciliation of these non-GAAP financial measures to the most comparable financial measure prepared in accordance with GAAP.

We calculate Adjusted EBITDA as net income (loss) adjusted by (i) interest (income) expense, net, (ii) provision for income taxes, (iii) noncash charges of depreciation and amortization, (iv) other income (expense), net, (v) noncash charges associated with our donation of common stock in connection with our Pledge 1% commitment, (vi) noncash stock-based compensation expense, net, (vii) payroll taxes related to stock-based compensation expense, net, and (viii) certain integration, restructuring, and other costs. We calculate non-GAAP operating expenses as our GAAP operating expenses adjusted by (i) noncash stock-based compensation expense, net, (ii) payroll taxes related to stock-based compensation expense, net, (iii) noncash charges associated with our donation of common stock in connection with our Pledge 1% commitment, as well as (iv) certain integration, restructuring, and other costs.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. These statements include, but are not limited to, statements regarding future events or our future results of operations and financial position, including our fiscal year and third quarter 2025 financial outlook, including forecasted fiscal year and third quarter 2025 revenue, net income (loss), and Adjusted EBITDA, anticipated future expenses and investments, expectations relating to certain of our key financial and operating metrics, our business strategy and plans, our growth, our position and potential opportunities, our share repurchase program, and our objectives for future operations. The words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “likely,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “target,” “will,” “would,” or similar expressions and the negatives of those terms are intended to identify forward-looking statements. Forward-looking statements are based on management’s expectations, assumptions, and projections based on information available at the time the statements were made. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including risks and uncertainties related to our expectations regarding our revenue, expenses, and other operating results; our ability to acquire new customers and successfully retain existing customers; our ability to develop new products and services in a timely manner; our ability to achieve or sustain our profitability; our ability to maintain and expand our strategic relationships with third parties; our business plan and our ability to effectively manage our growth; anticipated trends, growth rates, and challenges in our business and in the market segments in which we operate; our ability to attract and retain qualified employees; uncertainties regarding the impact of geopolitical and macroeconomic conditions, including currency fluctuations, inflation, regulatory changes (including as may be related to immigration, fiscal and tax policy, foreign trade, or foreign investment), regional and global conflicts or related government sanctions, or legislative or regulatory developments; our ability to maintain the security and availability of our solutions; our ability to maintain our money transmission licenses and other regulatory clearances or obtain new licenses and regulatory clearances; our ability to maintain and expand international operations; and our expectations regarding anticipated technology needs and developments and our ability to address those needs and developments with our solutions. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, our actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Further information on risks that could cause actual results to differ materially from forecasted results is included in our quarterly report on Form 10-Q for the quarter ended June 30, 2025, to be filed with the SEC, and within our annual report on Form 10-K for the year ended December 31, 2024, filed with the SEC, which are or will be available on our website at https://ir.remitly.com and on the SEC’s website at www.sec.gov. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

About Remitly
Remitly is a trusted provider of digital financial services that transcend borders. With a global footprint spanning more than 170 countries, Remitly’s digitally native, cross-border payments app delights customers with a fast, reliable, and transparent money movement experience. Building on its strong foundation, Remitly is expanding its suite of products to further its vision and transform lives around the world.

Contacts

Media Inquiries:
press@remitly.com

Investor Relations:
Luv Sodha
ir@remitly.com


REMITLY GLOBAL, INC.
Condensed Consolidated Statements of Operations
(unaudited)

 Three Months Ended June 30, Six Months Ended June 30,
(in thousands, except share and per share data) 2025   2024   2025   2024 
Revenue$411,852  $306,423  $773,476  $575,541 
Costs and expenses       
Transaction expenses(1) 143,756   107,780   265,149   197,661 
Customer support and operations(1) 25,074   19,999   47,647   40,118 
Marketing(1) 84,976   77,056   158,325   145,070 
Technology and development(1) 77,496   67,554   151,347   130,760 
General and administrative(1) 59,581   45,889   112,410   90,062 
Depreciation and amortization 6,326   3,907   11,722   7,585 
Total costs and expenses 397,209   322,185   746,600   611,256 
Income (loss) from operations 14,643   (15,762)  26,876   (35,715)
Interest income 2,061   1,942   3,848   4,168 
Interest expense (1,650)  (745)  (2,949)  (1,514)
Other (expense) income, net (6,940)  5,764   (4,719)  4,178 
Income (loss) before provision for income taxes 8,114   (8,801)  23,056   (28,883)
Provision for income taxes 1,578   3,290   5,168   4,288 
Net income (loss)$6,536  $(12,091) $17,888  $(33,171)
Net income (loss) per share attributable to common stockholders:       
Basic$0.03  $(0.06) $0.09  $(0.17)
Diluted$0.03  $(0.06) $0.08  $(0.17)
Weighted-average shares used in computing net income (loss) per share attributable to common stockholders:       
Basic 204,693,035   193,452,628   203,226,963   191,650,713 
Diluted 218,977,561   193,452,628   218,704,338   191,650,713 


 

(1) Exclusive of depreciation and amortization, shown separately.


REMITLY GLOBAL, INC.
Condensed Consolidated Balance Sheets
(unaudited)

 June 30, December 31,
(in thousands) 2025   2024 
Assets   
Current assets   
Cash and cash equivalents$515,896  $368,097 
Disbursement prefunding 196,291   288,934 
Customer funds receivable, net 257,394   193,965 
Prepaid expenses and other current assets 67,450   46,518 
Total current assets 1,037,031   897,514 
Property and equipment, net 47,263   31,566 
Operating lease right-of-use assets 12,865   13,002 
Goodwill 54,940   54,940 
Intangible assets, net 6,294   10,463 
Other noncurrent assets, net 7,778   5,386 
Total assets$1,166,171  $1,012,871 
Liabilities and stockholders’ equity   
Current liabilities   
Accounts payable$18,860  $16,159 
Customer liabilities 187,398   188,984 
Short-term debt 2,669   2,468 
Accrued expenses and other current liabilities 150,986   116,652 
Operating lease liabilities 3,836   4,745 
Total current liabilities 363,749   329,008 
Operating lease liabilities, noncurrent 25,860   9,073 
Other noncurrent liabilities 11,640   9,319 
Total liabilities 401,249   347,400 
Commitments and contingencies   
Stockholders’ equity   
Common stock 21   20 
Additional paid-in capital 1,271,110   1,195,390 
Accumulated other comprehensive income (loss) 4,184   (1,658)
Accumulated deficit (510,393)  (528,281)
Total stockholders’ equity 764,922   665,471 
Total liabilities and stockholders’ equity$1,166,171  $1,012,871 


REMITLY GLOBAL, INC.
Condensed Consolidated Statements of Cash Flows
(unaudited)

 Six Months Ended June 30,
(in thousands) 2025   2024 
Cash flows from operating activities   
Net income (loss)$17,888  $(33,171)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:   
Depreciation and amortization 11,722   7,585 
Stock-based compensation expense, net 73,858   71,245 
Donation of common stock 1,866    
Other 479   195 
Changes in operating assets and liabilities:   
Disbursement prefunding 92,643   45,138 
Customer funds receivable (55,878)  (82,079)
Prepaid expenses and other assets (19,614)  (7,237)
Operating lease right-of-use assets 3,700   2,895 
Accounts payable 4,443   (14,041)
Customer liabilities (5,146)  (10,701)
Accrued expenses and other liabilities 35,840   15,621 
Operating lease liabilities 12,293   (3,359)
Net cash provided by (used in) operating activities 174,094   (7,909)
Cash flows from investing activities   
Purchases of property and equipment, and other (26,553)  (2,076)
Capitalized internal-use software costs (6,012)  (6,494)
Net cash used in investing activities (32,565)  (8,570)
Cash flows from financing activities   
Proceeds from exercise of stock options 4,578   4,194 
Proceeds from issuance of common stock in connection with ESPP 5,768   5,004 
Proceeds from revolving credit facility borrowings 2,493,000   570,000 
Repayments of revolving credit facility borrowings (2,493,000)  (685,000)
Taxes paid related to net share settlement of equity awards (11,617)  (2,568)
Cash paid for settlement of amounts previously held back for acquisition consideration    (10,261)
Payment of debt issuance costs (2,628)   
Net cash used in financing activities (3,899)  (118,631)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 10,182   (1,229)
Net increase (decrease) in cash, cash equivalents, and restricted cash 147,812   (136,339)
Cash, cash equivalents, and restricted cash at beginning of period 369,817   325,029 
Cash, cash equivalents, and restricted cash at end of period$517,629  $188,690 
Reconciliation of cash, cash equivalents, and restricted cash   
Cash and cash equivalents$515,896  $185,187 
Restricted cash included in prepaid expenses and other current assets 664   2,693 
Restricted cash included in other noncurrent assets, net 1,069   810 
Total cash, cash equivalents, and restricted cash$517,629  $188,690 


REMITLY GLOBAL, INC.
Reconciliation of GAAP to Non-GAAP Financial Measures
(unaudited)

Reconciliation of net income (loss) to Adjusted EBITDA:
        
 Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2025  2024(2)  2025  2024(2)
Net income (loss)$6,536  $(12,091) $17,888  $(33,171)
Add:       
Interest income, net (411)  (1,197)  (899)  (2,654)
Provision for income taxes 1,578   3,290   5,168   4,288 
Depreciation and amortization 6,326   3,907   11,722   7,585 
Other (income) expense, net 6,940   (5,962)  4,719   (4,393)
Donation of common stock 907      1,866    
Stock-based compensation expense, net 38,066   37,157   73,858   71,245 
Payroll taxes related to stock-based compensation expense, net 1,519   1,144   4,659   4,659 
Integration, restructuring, and other costs(1) 2,536      3,444   1,468 
Adjusted EBITDA$63,997  $26,248  $122,425  $49,027 

__________
(1) Integration, restructuring, and other costs for the three and six months ended June 30, 2025 consisted primarily of non-recurring termination benefits. Integration, restructuring, and other costs for the six months ended June 30, 2024 consisted primarily of $0.8 million in restructuring charges incurred, $0.5 million of non-recurring legal charges, and $0.2 million related to the change in the fair value of the holdback liability associated with the acquisition of Rewire (O.S.G.) Research and Development Ltd.

(2) As previously announced on February 19, 2025, the Company's presentation of Adjusted EBITDA now excludes the impact of payroll taxes related to stock-based compensation expense, net. Prior period Adjusted EBITDA has been recast to reflect this change.

Reconciliation of operating expenses to non-GAAP operating expenses:
        
 Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2025 2024(1)  2025 2024(1)
Customer support and operations$25,074 $19,999 $47,647 $40,118
Excluding: Stock-based compensation expense, net 453  259  709  612
Excluding: Payroll taxes related to stock-based compensation expense, net 8  4  16  14
Excluding: Integration, restructuring, and other costs       758
Non-GAAP customer support and operations$24,613 $19,736 $46,922 $38,734
        
 Three Months Ended June 30, Six Months Ended June 30,
  2025 2024(1)  2025 2024(1)
Marketing$84,976 $77,056 $158,325 $145,070
Excluding: Stock-based compensation expense, net 4,747  4,521  8,874  8,500
Excluding: Payroll taxes related to stock-based compensation expense, net 258  236  714  729
Excluding: Integration, restructuring, and other costs 175    665  
Non-GAAP marketing$79,796 $72,299 $148,072 $135,841
        
 Three Months Ended June 30, Six Months Ended June 30,
  2025 2024(1)  2025 2024(1)
Technology and development$77,496 $67,554 $151,347 $130,760
Excluding: Stock-based compensation expense, net 21,873  20,354  43,110  39,981
Excluding: Payroll taxes related to stock-based compensation expense, net 885  620  2,866  2,632
Excluding: Integration, restructuring, and other costs 1,382    1,382  
Non-GAAP technology and development$53,356 $46,580 $103,989 $88,147
        
 Three Months Ended June 30, Six Months Ended June 30,
  2025 2024(1)  2025 2024(1)
General and administrative$59,581 $45,889 $112,410 $90,062
Excluding: Stock-based compensation expense, net 10,993  12,023  21,165  22,152
Excluding: Payroll taxes related to stock-based compensation expense, net 368  284  1,063  1,284
Excluding: Donation of common stock 907    1,866  
Excluding: Integration, restructuring, and other costs 979    1,397  710
Non-GAAP general and administrative$46,334 $33,582 $86,919 $65,916

__________
(1) As previously announced on February 19, 2025, the Company's presentation of non-GAAP operating expenses now excludes the impact of payroll taxes related to stock-based compensation expense, net. Prior period non-GAAP operating expenses have been recast to reflect this change.


FAQ

What were Remitly's (RELY) Q2 2025 earnings results?

Remitly reported revenue of $411.9M (up 34% YoY), achieved its first GAAP net income of $6.5M, and grew Adjusted EBITDA to $64.0M (up 144% YoY).

How much is Remitly's share buyback program?

Remitly's Board authorized a $200 million share repurchase program to return capital to shareholders and offset dilution from employee equity compensation.

What is Remitly's revenue guidance for full year 2025?

Remitly raised its 2025 revenue guidance to $1.61-1.62 billion, representing 27-28% year-over-year growth.

How many active customers does Remitly have in Q2 2025?

Remitly reported 8.5 million active customers, a 24% increase from 6.9 million in Q2 2024.

What was Remitly's send volume in Q2 2025?

Remitly's send volume reached $18.5 billion, up 40% from $13.2 billion in Q2 2024.
Remitly Global, Inc.

NASDAQ:RELY

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3.51B
192.10M
5.52%
89.63%
6.71%
Software - Infrastructure
Services-business Services, Nec
Link
United States
SEATTLE