Remitly Q3 2026 net income jumps 665% to $67.6M
Remitly expects full-year revenue of $1.989 billion to $1.991 billion; its share repurchase authorization is now $500 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Remitly Global, Inc. (RELY) reported third-quarter 2026 revenue of $509.8 million, up 22% year over year, and net income of $67.6 million, compared with $8.8 million in the third quarter of 2025. Adjusted EBITDA was $120.8 million, up 97%; the company described revenue and Adjusted EBITDA as records. Quarterly active customers were 10.3 million, up 17%, and send volume was $24.4 billion, up 25%.
For fiscal 2026, Remitly expects revenue of $1.989 billion to $1.991 billion, representing 22% year-over-year growth, and Adjusted EBITDA of $441 million to $443 million; it expects net income to grow year over year. For the fourth quarter of 2026, it expects revenue of $531 million to $533 million, representing 20% to 21% year-over-year growth, and Adjusted EBITDA of $104 million to $106 million, with net income expected to grow year over year.
The board increased the aggregate share repurchase authorization from $200 million to $500 million. The program does not expire, may be suspended, discontinued, or modified at Remitly’s discretion, and does not obligate the company to repurchase any amount of common stock.
3 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointRevenue rose 22% to $509.8 million in the third quarter of 2026.
- Moderate pointNet income rose 665% to $67.6 million year over year.
- Moderate pointAdjusted EBITDA rose 97% to $120.8 million year over year.
Negative
- None.
Filing Explained
The 8-K reports third-quarter results, but its earnings release and investor presentation are furnished rather than deemed filed for Section 18 purposes and are not incorporated by reference into other filings; this is the stated filing status of those materials.
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Revenue: $509.8 million
Net income: $67.6 million
Adjusted EBITDA: $120.8 million
+5 more
8 metrics
Revenue
$509.8 million
Third quarter of 2026; up 22% year over year
Net income
$67.6 million
Third quarter of 2026; up 665% year over year
Adjusted EBITDA
$120.8 million
Third quarter of 2026; up 97% year over year
Send volume
$24.4 billion
Third quarter of 2026; up 25% year over year
Quarterly active customers
10.3 million
Third quarter of 2026; up 17% year over year
Fiscal 2026 revenue outlook
$1.989 billion to $1.991 billion
Represents 22% year-over-year growth
Fiscal 2026 Adjusted EBITDA outlook
$441 million to $443 million
Fiscal year 2026
Aggregate share repurchase authorization
$500 million
Increased from $200 million
Key Terms
Adjusted EBITDA, Transaction margin dollars, Free cash flow, valuation allowance
4 terms
Adjusted EBITDA financial
"Adjusted EBITDA was $120.8 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Transaction margin dollars financial
"transaction margin dollars 27% higher YoY in Q3"
Transaction margin dollars measure the absolute dollar amount of profit a company earns from its sales after subtracting the direct costs tied to completing those transactions (like payment fees, shipping, discounts, or processing costs). For investors, this number shows how much each sale actually contributes to the company’s profit—like the cash left in your wallet after paying the bill for a purchase—and helps assess whether growth in sales is translating into real earnings.
Free cash flow financial
"We calculate free cash flow as net cash provided by operating activities"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
valuation allowance financial
"release of our U.S. valuation allowance in 2026"
A valuation allowance is a reserve set aside to reduce the value of certain assets on a company's financial records when there is uncertainty about whether they will generate the expected benefits. It acts like a caution sign, indicating that some assets might not be fully recoverable or worth their recorded amount. This matters to investors because it provides a more realistic picture of a company's financial health and potential risks.
Earnings Snapshot
Revenue: $509.8 million · Guidance included
Third quarter ended September 30, 2026
Revenue
$509.8 million
up 22% year over year
Net income
$67.6 million
up 665% year over year
Adjusted EBITDA
$120.8 million
up 97% year over year
Guidance
For fiscal 2026, revenue of $1.989 billion to $1.991 billion, representing 22% year-over-year growth, and Adjusted EBITDA of $441 million to $443 million; net income is expected to grow year over year. For the fourth quarter of 2026, revenue of $531 million to $533 million, representing 20% to 21% year-over-year growth, and Adjusted EBITDA of $104 million to $106 million; net income is expected to grow year over year.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was RELY's revenue in Q3 2026?
Remitly reported $509.8 million in revenue for the third quarter ended September 30, 2026, up 22% from $419.5 million in the third quarter of 2025.
How much net income did RELY report in Q3 2026?
Remitly reported $67.6 million in net income for the third quarter of 2026, compared with $8.8 million in the third quarter of 2025; the release reported a 665% year-over-year increase.
What is RELY's 2026 revenue and Adjusted EBITDA outlook?
For fiscal 2026, Remitly expects revenue of $1.989 billion to $1.991 billion, representing 22% year-over-year growth, and Adjusted EBITDA of $441 million to $443 million. It also expects net income to grow year over year.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 4, 2026
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
(Address of Principal Executive Offices and Zip Code)
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
| | ||||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
1
Item 2.02 Results of Operations and Financial Condition.
On November 4, 2026, Remitly Global, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated by reference herein.
Item 7.01 Regulation FD Disclosure.
On November 4, 2026, the Company provided an investor presentation that will be made available on the investor relations section of the Company’s website at https://ir.remitly.com/. The investor presentation is furnished as Exhibit 99.2 hereto and is incorporated by reference herein.
The information in Items 2.02 and 7.01 of this Current Report, including the accompanying Exhibit 99.1 and Exhibit 99.2, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of Section 18. The information in Items 2.02 and 7.01 of this Current Report, including the accompanying Exhibit 99.1 and Exhibit 99.2, shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language contained in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | ||||
| 99.1 | Press Release dated November 4, 2026 | ||||
| 99.2 | Investor Presentation dated November 4, 2026 | ||||
| 104 | Cover page interactive data file (embedded with the inline XBRL document) | ||||
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Remitly Global, Inc. | |||||||||||
Date: November 4, 2026 | By: | /s/ Vikas Mehta | |||||||||
| Vikas Mehta | |||||||||||
| Chief Financial Officer | |||||||||||
| (Principal Financial Officer) | |||||||||||
Date: November 4, 2026 | By: | /s/ Tai-Hong Fung | |||||||||
Tai-Hong Fung | |||||||||||
| Chief Accounting Officer | |||||||||||
| (Principal Accounting Officer) | |||||||||||
3
Remitly Reports Record Third Quarter Results and Raises Full Year 2026 Outlook
Send volume up 25% and revenue up 22% year over year
Net income of $67.6 million up 665% year over year
Adjusted EBITDA of $120.8 million up 97% year over year
Board of directors increases share repurchase authorization from $200 million to $500 million
SEATTLE, WA / November 4, 2026 / GlobeNewswire / - Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of financial services that transcend borders, reported results for the third quarter ended September 30, 2026.
“We delivered another excellent quarter, with record revenue and a more than seven-fold year over year increase in net income,” said Sebastian Gunningham, Chief Executive Officer. “These results show the expanding value of our global network, which has connected the financial lives of more than 50 million senders and recipients over the past year. We’re evolving from a remittance company into a global financial services provider for people and businesses whose money crosses borders. We are shipping new features and products faster than ever, and the productivity tailwinds from AI give us the capacity to invest and capture share in the large and diverse global money movement market.”
Third Quarter 2026 Highlights and Key Operating Data
(All comparisons relative to the third quarter of 2025)
•Active customers increased to 10.3 million, compared to 8.9 million, up 17%.
•Send volume increased to $24.4 billion, compared to $19.5 billion, up 25%.
•Revenue totaled $509.8 million, compared to $419.5 million, up 22%.
•Net income was $67.6 million, compared to $8.8 million, up 665%.
•Adjusted EBITDA was $120.8 million, compared to $61.2 million, up 97%.
2026 Financial Outlook
For fiscal year 2026, Remitly currently expects:
•Total revenue in the range of $1.989 billion to $1.991 billion, representing a growth rate of 22% year over year.
•Year over year growth in net income, and Adjusted EBITDA in the range of $441 million to $443 million.
For the fourth quarter of 2026, Remitly currently expects:
•Total revenue in the range of $531 million to $533 million, representing a growth rate of 20% to 21% year over year.
•Year over year growth in net income, and Adjusted EBITDA in the range of $104 million to $106 million.
Share Repurchase Program
Remitly announced today that its board of directors has approved an increase in the aggregate authorization of its share repurchase program by $300 million, from $200 million to $500 million. 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.
1
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 or to forecasted GAAP income 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.
2
Webcast Information
Remitly will host a webcast at 5:00 p.m. Eastern Time on Wednesday, November 4, 2026, to discuss its third quarter 2026 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 (Fair Disclosure).
Non-GAAP Financial Measures
Some of the financial information and data contained in this earnings release, such as Adjusted EBITDA, non-GAAP operating expenses, transaction margin dollars, transaction margin, and free cash flow, 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. Specifically, the company believes the non-GAAP measures provide useful information to both management and investors by excluding certain items that may not be indicative of its recurring core operating results and business outlook.
Our 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 our 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 adjusted by (i) interest (income) expense, net; (ii) (benefit from) 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 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 restructuring and other costs. 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. We believe that the use of Adjusted EBITDA and non-GAAP operating expenses provides additional tools to assess operational performance and trends in, and in comparing our financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors.
We calculate transaction margin dollars as income from operations, excluding expenses related to (i) customer support and operations; (ii) marketing; (iii) technology and development; (iv) general and administrative; and (v) depreciation and amortization. Transaction margin dollars can also be calculated as revenue less transaction expenses. We calculate transaction margin as transaction margin dollars divided by revenue. Transaction margin dollars and transaction margin are non-GAAP financial measures that management uses to evaluate the economic returns generated by the company's platform. We believe that transaction margin dollars and transaction margin provide useful information in understanding and evaluating our financial results.
We calculate free cash flow as net cash provided by operating activities, adjusted for capitalized expenditures that include purchases of property and equipment and capitalized internal-use software. Free cash flow is a key measure used by our management to understand the strength of our liquidity and available cash, and we believe that the presentation of this measure is useful because we are focused on growing our free cash flow generation over time. Free cash flow is not intended to represent the total increase or decrease in our cash balance for the period.
3
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 fourth quarter 2026 financial outlook, including forecasted fiscal year and fourth quarter 2026 revenue, net income, 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, 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 continue to develop new products and services in a timely manner; our ability to 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 effectively integrate and leverage artificial intelligence and machine learning technologies; our ability to attract, integrate, and retain qualified employees, including key members of our management team; 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; our expectations regarding anticipated technology needs and developments and our ability to address those needs and developments with our solutions; and our stock repurchase program, the timing and number of shares of our common stock to be repurchased, and the potential benefits thereof. 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 September 30, 2026, to be filed with the SEC, and within our annual report on Form 10-K for the year ended December 31, 2025, 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 financial services that transcend borders. With a footprint spanning more than 175 countries, Remitly has built one of the world’s leading global money movement platforms, trusted by millions of customers. Remitly continues to evolve beyond a remittance company into a diversified, cross-border financial services provider, serving both consumers and businesses across a growing set of use cases.
Contacts
Media Inquiries:
press@remitly.com
Investor Relations:
ir@remitly.com
4
REMITLY GLOBAL, INC.
Condensed Consolidated Statements of Operations
(unaudited)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in thousands, except per share data) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Revenue | $ | 509,839 | $ | 419,494 | $ | 1,457,797 | $ | 1,192,970 | |||||||||||||||
| Costs and expenses | |||||||||||||||||||||||
Transaction expenses(1) | 162,433 | 146,725 | 468,547 | 411,874 | |||||||||||||||||||
Customer support and operations(1) | 27,797 | 26,386 | 81,247 | 74,033 | |||||||||||||||||||
Marketing(1) | 103,971 | 91,778 | 294,721 | 250,103 | |||||||||||||||||||
Technology and development(1) | 80,103 | 80,421 | 233,755 | 231,768 | |||||||||||||||||||
General and administrative(1) | 59,403 | 55,973 | 170,468 | 168,383 | |||||||||||||||||||
| Depreciation and amortization | 6,730 | 6,434 | 19,236 | 18,156 | |||||||||||||||||||
| Total costs and expenses | 440,437 | 407,717 | 1,267,974 | 1,154,317 | |||||||||||||||||||
| Income from operations | 69,402 | 11,777 | 189,823 | 38,653 | |||||||||||||||||||
| Interest income | 1,822 | 2,066 | 4,960 | 5,914 | |||||||||||||||||||
| Interest expense | (2,444) | (2,116) | (8,033) | (5,065) | |||||||||||||||||||
| Other income (expense), net | 976 | 696 | (275) | (4,023) | |||||||||||||||||||
| Income before (benefit from) provision for income taxes | 69,756 | 12,423 | 186,475 | 35,479 | |||||||||||||||||||
| (Benefit from) provision for income taxes | 2,203 | 3,594 | (136,039) | 8,762 | |||||||||||||||||||
| Net income | $ | 67,553 | $ | 8,829 | $ | 322,514 | $ | 26,717 | |||||||||||||||
| Net income per share attributable to common stockholders: | |||||||||||||||||||||||
Basic | $ | 0.32 | $ | 0.04 | $ | 1.52 | $ | 0.13 | |||||||||||||||
| Diluted | $ | 0.30 | $ | 0.04 | $ | 1.46 | $ | 0.12 | |||||||||||||||
| Weighted-average shares used in computing net income per share attributable to common stockholders: | |||||||||||||||||||||||
Basic | 212,747 | 207,150 | 211,546 | 204,549 | |||||||||||||||||||
| Diluted | 223,553 | 217,231 | 220,540 | 218,228 | |||||||||||||||||||
__________
(1) Exclusive of depreciation and amortization, shown separately.
5
REMITLY GLOBAL, INC.
Condensed Consolidated Balance Sheets
(unaudited)
| September 30, | December 31, | ||||||||||
| (in thousands) | 2026 | 2025 | |||||||||
| Assets | |||||||||||
| Current assets | |||||||||||
| Cash and cash equivalents | $ | 669,082 | $ | 542,426 | |||||||
| Disbursement prefunding | 287,434 | 441,335 | |||||||||
| Customer funds receivable, net | 357,108 | 286,455 | |||||||||
| Prepaid expenses and other current assets | 58,748 | 45,735 | |||||||||
| Total current assets | 1,372,372 | 1,315,951 | |||||||||
| Property and equipment, net | 60,914 | 61,521 | |||||||||
| Operating lease right-of-use assets | 8,114 | 12,452 | |||||||||
| Goodwill | 54,940 | 54,940 | |||||||||
| Intangible assets, net | 531 | 2,125 | |||||||||
| Other noncurrent assets, net | 156,435 | 11,724 | |||||||||
| Total assets | $ | 1,653,306 | $ | 1,458,713 | |||||||
Liabilities and stockholders’ equity | |||||||||||
| Current liabilities | |||||||||||
| Accounts payable | $ | 29,436 | $ | 28,450 | |||||||
| Customer liabilities | 213,292 | 219,667 | |||||||||
| Short-term debt | 2,938 | 2,821 | |||||||||
| Accrued expenses and other current liabilities | 138,397 | 141,948 | |||||||||
| Operating lease liabilities | 8,324 | 6,166 | |||||||||
| Total current liabilities | 392,387 | 399,052 | |||||||||
| Operating lease liabilities, noncurrent | 25,738 | 28,135 | |||||||||
| Long-term debt | — | 155,000 | |||||||||
| Other noncurrent liabilities | 8,767 | 7,737 | |||||||||
| Total liabilities | 426,892 | 589,924 | |||||||||
| Commitments and contingencies | |||||||||||
Stockholders’ equity | |||||||||||
| Common stock | 21 | 21 | |||||||||
| Additional paid-in capital | 1,361,869 | 1,325,520 | |||||||||
| Accumulated other comprehensive income | 2,358 | 3,596 | |||||||||
| Accumulated deficit | (137,834) | (460,348) | |||||||||
| Total stockholders’ equity | 1,226,414 | 868,789 | |||||||||
| Total liabilities and stockholders’ equity | $ | 1,653,306 | $ | 1,458,713 | |||||||
6
REMITLY GLOBAL, INC.
Condensed Consolidated Statements of Cash Flows
(unaudited)
| Nine Months Ended September 30, | |||||||||||
| (in thousands) | 2026 | 2025(1) | |||||||||
| Cash flows from operating activities | |||||||||||
| Net income | $ | 322,514 | $ | 26,717 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation, amortization, and other | 37,987 | 37,049 | |||||||||
| Deferred income taxes | (144,352) | — | |||||||||
| Stock-based compensation expense, net | 101,654 | 113,832 | |||||||||
| Donation of common stock | 2,913 | 2,724 | |||||||||
| Changes in operating assets and liabilities: | |||||||||||
| Prepaid expenses and other assets | (13,418) | (2,962) | |||||||||
| Operating lease right-of-use assets | 2,349 | 4,810 | |||||||||
| Accounts payable | 5,244 | 16,156 | |||||||||
| Accrued expenses and other liabilities | (3,976) | 13,482 | |||||||||
| Operating lease liabilities | (1,389) | 13,364 | |||||||||
| Net cash provided by operating activities | 309,526 | 225,172 | |||||||||
| Cash flows from investing activities | |||||||||||
| Purchases of property and equipment | (8,542) | (23,070) | |||||||||
| Capitalized internal-use software costs | (10,393) | (9,338) | |||||||||
| Net (originations) collections from consumer receivables | (6,646) | (19,174) | |||||||||
| Net cash used in investing activities | (25,581) | (51,582) | |||||||||
| Cash flows from financing activities | |||||||||||
| Proceeds from exercise of stock options | 3,066 | 6,215 | |||||||||
Proceeds from issuance of common stock in connection with ESPP | 10,635 | 11,147 | |||||||||
Cash paid for repurchase of common stock | (80,012) | (11,876) | |||||||||
| Proceeds from revolving credit facility borrowings | 8,473,000 | 4,104,000 | |||||||||
| Repayments of revolving credit facility borrowings | (8,628,000) | (4,104,000) | |||||||||
| Net change in customer funds assets and liabilities | 71,297 | (49,708) | |||||||||
| Taxes paid related to net share settlement of equity awards | (5,565) | (26,111) | |||||||||
| Payment of debt issuance costs | — | (3,078) | |||||||||
| Net cash used in financing activities | (155,579) | (73,411) | |||||||||
| Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash | (1,528) | 8,467 | |||||||||
| Net increase in cash, cash equivalents, and restricted cash | 126,838 | 108,646 | |||||||||
| Cash, cash equivalents, and restricted cash at beginning of period | 544,299 | 369,817 | |||||||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 671,137 | $ | 478,463 | |||||||
| Reconciliation of cash, cash equivalents, and restricted cash | |||||||||||
| Cash and cash equivalents | $ | 669,082 | $ | 476,896 | |||||||
| Restricted cash included in prepaid expenses and other current assets | 805 | 584 | |||||||||
| Restricted cash included in other noncurrent assets, net | 1,250 | 983 | |||||||||
| Total cash, cash equivalents, and restricted cash | $ | 671,137 | $ | 478,463 | |||||||
__________
(1) Beginning in the fourth quarter of 2025, the Company changed the presentation of certain cash activity related to customer funds assets and liabilities, which is comprised of disbursement prefunding, customer funds receivable, customer liabilities, and trade settlement liability included within the line item ‘Accrued expenses and other current liabilities’ on the Consolidated Balance Sheets. Certain components of this activity were reclassified from cash flows from operating activities to cash flows from financing activities, reflected within the line item ‘Net change in customer funds assets and liabilities.’
7
REMITLY GLOBAL, INC.
Reconciliation of GAAP to Non-GAAP Financial Measures
(unaudited)
| Reconciliation of net income to Adjusted EBITDA: | |||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Net income | $ | 67,553 | $ | 8,829 | $ | 322,514 | $ | 26,717 | |||||||||||||||
| Add: | |||||||||||||||||||||||
| Interest (income) expense, net | 622 | 50 | 3,073 | (849) | |||||||||||||||||||
| (Benefit from) provision for income taxes | 2,203 | 3,594 | (136,039) | 8,762 | |||||||||||||||||||
| Depreciation and amortization | 6,730 | 6,434 | 19,236 | 18,156 | |||||||||||||||||||
| Other (income) expense, net | (976) | (696) | 275 | 4,023 | |||||||||||||||||||
| Donation of common stock | 1,191 | 858 | 2,913 | 2,724 | |||||||||||||||||||
| Stock-based compensation expense, net | 39,627 | 39,974 | 101,654 | 113,832 | |||||||||||||||||||
| Payroll taxes related to stock-based compensation expense, net | 1,722 | 1,642 | 5,555 | 6,301 | |||||||||||||||||||
Restructuring and other costs(1) | 2,132 | 496 | 17,915 | 3,940 | |||||||||||||||||||
| Adjusted EBITDA | $ | 120,804 | $ | 61,181 | $ | 337,096 | $ | 183,606 | |||||||||||||||
__________
(1) Restructuring and other costs for the three and nine months ended September 30, 2026 consisted of termination benefits and lease exit and other related costs. Restructuring and other costs for the three and nine months ended September 30, 2025 consisted primarily of termination benefits. These costs are not indicative of ongoing operating performance.
| Reconciliation of income from operations to transaction margin dollars and transaction margin: | |||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Income from operations | $ | 69,402 | $ | 11,777 | $ | 189,823 | $ | 38,653 | |||||||||||||||
| Add: | |||||||||||||||||||||||
| Customer support and operations | 27,797 | 26,386 | 81,247 | 74,033 | |||||||||||||||||||
| Marketing | 103,971 | 91,778 | 294,721 | 250,103 | |||||||||||||||||||
| Technology and development | 80,103 | 80,421 | 233,755 | 231,768 | |||||||||||||||||||
| General and administrative | 59,403 | 55,973 | 170,468 | 168,383 | |||||||||||||||||||
| Depreciation and amortization | 6,730 | 6,434 | 19,236 | 18,156 | |||||||||||||||||||
| Transaction margin dollars | $ | 347,406 | $ | 272,769 | $ | 989,250 | $ | 781,096 | |||||||||||||||
| Revenue | $ | 509,839 | $ | 419,494 | $ | 1,457,797 | $ | 1,192,970 | |||||||||||||||
| Transaction margin | 68 | % | 65 | % | 68 | % | 65 | % | |||||||||||||||
| Reconciliation of cash flow from operations to free cash flow: | |||||||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
Net cash provided by operating activities | $ | 93,014 | $ | 89,700 | $ | 309,526 | $ | 225,172 | |||||||||||||||
Less: | |||||||||||||||||||||||
Purchases of property and equipment | (1,371) | (4,586) | (8,542) | (23,070) | |||||||||||||||||||
Capitalized internal-use software costs | (3,862) | (3,326) | (10,393) | (9,338) | |||||||||||||||||||
Free cash flow | $ | 87,781 | $ | 81,788 | $ | 290,591 | $ | 192,764 | |||||||||||||||
8
| Reconciliation of operating expenses to non-GAAP operating expenses: | |||||||||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Customer support and operations | $ | 27,797 | $ | 26,386 | $ | 81,247 | $ | 74,033 | |||||||||||||||
| Excluding: Stock-based compensation expense, net | 504 | 455 | 1,230 | 1,164 | |||||||||||||||||||
| Excluding: Payroll taxes related to stock-based compensation expense, net | 7 | 5 | 19 | 21 | |||||||||||||||||||
| Excluding: Restructuring and other costs | 33 | — | 1,677 | — | |||||||||||||||||||
| Non-GAAP customer support and operations | $ | 27,253 | $ | 25,926 | $ | 78,321 | $ | 72,848 | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Marketing | $ | 103,971 | $ | 91,778 | $ | 294,721 | $ | 250,103 | |||||||||||||||
| Excluding: Stock-based compensation expense, net | 3,218 | 4,010 | 10,921 | 12,884 | |||||||||||||||||||
| Excluding: Payroll taxes related to stock-based compensation expense, net | 526 | 271 | 976 | 985 | |||||||||||||||||||
| Excluding: Restructuring and other costs | — | 35 | 3,688 | 700 | |||||||||||||||||||
| Non-GAAP marketing | $ | 100,227 | $ | 87,462 | $ | 279,136 | $ | 235,534 | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| Technology and development | $ | 80,103 | $ | 80,421 | $ | 233,755 | $ | 231,768 | |||||||||||||||
| Excluding: Stock-based compensation expense, net | 22,759 | 24,392 | 55,856 | 67,502 | |||||||||||||||||||
| Excluding: Payroll taxes related to stock-based compensation expense, net | 762 | 475 | 3,157 | 3,341 | |||||||||||||||||||
| Excluding: Restructuring and other costs | 299 | 171 | 5,237 | 1,553 | |||||||||||||||||||
| Non-GAAP technology and development | $ | 56,283 | $ | 55,383 | $ | 169,505 | $ | 159,372 | |||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
| (in thousands) | 2026 | 2025 | 2026 | 2025 | |||||||||||||||||||
| General and administrative | $ | 59,403 | $ | 55,973 | $ | 170,468 | $ | 168,383 | |||||||||||||||
| Excluding: Stock-based compensation expense, net | 13,146 | 11,117 | 33,647 | 32,282 | |||||||||||||||||||
| Excluding: Payroll taxes related to stock-based compensation expense, net | 427 | 891 | 1,403 | 1,954 | |||||||||||||||||||
| Excluding: Donation of common stock | 1,191 | 858 | 2,913 | 2,724 | |||||||||||||||||||
| Excluding: Restructuring and other costs | 1,800 | 290 | 7,313 | 1,687 | |||||||||||||||||||
| Non-GAAP general and administrative | $ | 42,839 | $ | 42,817 | $ | 125,192 | $ | 129,736 | |||||||||||||||
9
Nov 2026 / © 2026 Remitly Inc. Investor Presentation Third Quarter 2026 Earnings November 4, 2026
Nov 2026 / © 2026 Remitly Inc.2 Forward-Looking Statements This presentation 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 fourth quarter 2026 financial outlook, including forecasted fiscal year and fourth quarter 2026 revenue, net income, 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, 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 continue to develop new products and services in a timely manner; our ability to 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 effectively integrate and leverage artificial intelligence and machine learning technologies; our ability to attract, integrate, and retain qualified employees, including key members of our management team; 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; our expectations regarding anticipated technology needs and developments and our ability to address those needs and developments with our solutions; and our stock repurchase program, the timing and number of shares of our common stock to be repurchased, and the potential benefits thereof. 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 September 30, 2026, to be filed with the SEC, and within our annual report on Form 10-K for the year ended December 31, 2025, 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. The forward-looking statements in this presentation speak only as of the date of this presentation and 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. The guidance in this presentation is only effective as of the date given, November 4, 2026, and will not be updated or affirmed unless and until we publicly announce updated or affirmed guidance. Distribution of or reference to this deck following November 4, 2026, does not constitute re-affirming guidance by Remitly. Non-GAAP Financial Measure A reconciliation of GAAP to non-GAAP financial measures has been provided in the Appendix included in this presentation. An explanation of these measures is also included in the Appendix within this presentation under the heading “Non-GAAP Financial Measures.” We have not provided a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income or to forecasted GAAP income before income taxes within this presentation 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, net, 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. Disclosures
3Q Strategic Overview Sebastian J Gunningham CEO 3 Nov 2026 / © 2026 Remitly Inc.
Nov 2026 / © 2026 Remitly Inc. 3Q 2026 Revenue 3Q 2026 Profitability 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix. 4 Record revenue and record Adjusted EBITDA $510m up 22% YoY $67.6m Net Income up 665% YoY $120.8m Adj. EBITDA up 97% YoY 24% Adj. EBITDA Margin 1 1
Nov 2026 / © 2026 Remitly Inc. Receivers 1. Remitly Q3-26 data: Disbursement speed reflects the time between when Remitly has the customer funds and when the funds are successfully disbursed (e.g., completed or available for pickup). 5 Consumer Remittances ● Launched first send and receive app experience in Brazil ● Extended reach, adding access to 11 million global accounts ● Increased speed, with ~84% of transfers1 delivered in <1 min. ● Grew volume 50%+ over the last 12 mos. ● Launched Remitly Reserve with Fx protection and guaranteed instant bank transfers ● 50+ million relationships across senders and recipients over the last 12 mos. ● Launched Send and Request with Text to make sending and requesting money as easy as a text, grow users from the Receive-side Core Senders Large Transfers Recipients Key updates across our three growth engines Consumer Remittances Business Payments Remitly Global Card
Nov 2026 / © 2026 Remitly Inc. Remitly Global Card 6 Business Payments ● More than $40 Trillion1 opportunity, leveraging existing network infrastructure ● Surpassed 30,000 business customers2, and growing ● Extended network access to platform partners, signing Etsy as our first partner deal ● Launched Remitly Global Card in Q3, a complete card for those with cross-border lives ● Added SmartRate and eSim to membership benefits ● Added domestic send and receive, allowing US cardholders to send and receive anywhere in the US 1. Business payments opportunity now includes large enterprise TAM of $21.6T combined with the $20.2T SMB opportunity as we signed Etsy as our platform partner. TAM based on estimates from FxC Intelligence and internal estimates. 2. A Remitly business customer is a business that has completed a transaction in the past quarter. Key updates across our three growth engines Consumer Remittances Business Payments Remitly Global Card
Nov 2026 / © 2026 Remitly Inc.7 Addressing top investor questions Neobanks How would you compete with the neobanks? Neobanks and fintechs are converging on the same set of products. We built the hardest part first: a global, cross-border money movement network. Stablecoins Do stablecoins impact Remitly? Blockchain is another rail we can use to transfer value across borders. We own the customer relationship and the experience and deliver the last mile. Pricing How stable is remittance pricing in the long-term? The lowest cost to serve wins. Our scale advantages and advanced pricing engine helped drive transaction margin dollars 27% higher YoY in Q3. Diversification Are you diversifying beyond consumer remittances? We continue to gain share in Consumer remittance. Business Payments and Card build on our network advantages and diversify revenues.
3Q Financial Results 8 Nov 2026 / © 2026 Remitly Inc. Vikas Mehta CFO
Revenue ProfitabilityScale 3Q — Excellent results across the board 1. Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP measures. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix. 9 Nov 2026 / © 2026 Remitly Inc. 10.3m 17% YoY growth in quarterly active customers $24.4b 25% YoY growth in send volume $510m 22% YoY growth in revenue $120.8m 97% YoY growth in Adj. EBITDA $67.6m 665% YoY growth in Net Income 24% Adj. EBITDA Margin 1 1
Quarterly Active Customers1 (in millions) Transaction Margin Dollars2 (in $ millions) Revenue (in $ millions) Send Volume (in billions)Send Volume (in $ billions) Continued momentum across key drivers of revenue growth 10 Nov 2026 / © 2026 Remitly Inc. YoY % Growth 25% 26% 25% 20% 22%YoY % Growth 35% 35% 37% 27% 25% YoY % Growth 21% 19% 20% 19% 17% YoY % Growth 23% 30% 28% 25% 27% 1. 2Q26 quarterly active customers was revised from 10.2M to 10.1M due to a data migration correction. No other periods were impacted. 2. Transaction margin dollars is a non-GAAP measure. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix. Operating Income $12 $39 $54 $67 $69
Nov 2026 / © 2026 Remitly Inc. Recipients 1. Large transfers include individuals sending $5,000 or more per transaction. 2. Estimated unique recipients of transfers sent by Remitly customers over the last 12 months. Because recipient details are provided by senders, we estimate unique recipients by matching recipient phone numbers where available and, where no phone number is provided, by full name and country. 3. A Remitly business customer is a business that has completed a transaction in the past quarter. Remitly Global Card ● Ability to unlock relationships with over tens of millions recipients2 ● Launched Send and Request with Text to bring more recipients into the Remitly ecosystem ● Global Card now generally available in the U.S. ● Paid cards are outperforming prior offerings on adoption and retention Large Transfers ● 25% YoY volume growth ● 80% YoY growth in volume outside India receive, an acceleration from Q2 C on su m er R em it ta nc es Business Payments ● >30k Remitly business customers in 3Q3 ● Second consecutive quarter of accelerating volume growth ● Launch of Send with Text, Bulk Send, Platform business Newer businesses continue to scale 1 11
Nov 2026 / © 2026 Remitly Inc.12 Delivering operating efficiencies across the board 1. Transaction margin is a non-GAAP measure. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix. Transaction expenses include fees paid to disbursement partners for paying funds to the recipients, provisions for transaction losses, and fees paid to payment processors for funding transactions, along with chargebacks, fraud prevention, fraud management tools, and compliance tools. 2. Operating expenses are non-GAAP measures. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix. 3Q 26 Year-over-Year Change Performance Drivers Transaction Margin1 TM 312 bps ● Lower transaction expenses, reflecting improved network economics ● Lower transaction losses as a % of send volume Non-GAAP Operating Expenses as a % of Revenue2 Marketing 119 bps ● Continued discipline while expanding brand campaigns ● Brand marketing investments aiding word of mouth and unpaid acquisition CS 83 bps ● Product improvements driving lower contact rates ● Increasing automation, including AI-driven virtual assistant T&D 216 bps ● AI driving Improved productivity with same headcount ● Reduction in per token spend, partially offset by higher token use G&A 180 bps ● Continued, rigorous focus on operating discipline ● Ongoing rationalization of geographic footprint
Nov 2026 / © 2026 Remitly Inc.13 Transaction margin dollars per active customer1 By quarterly cohort and tenure quarter ($)2 Send volume per active customer By quarterly cohort and tenure quarter ($)2 Lifetime value of new cohorts continues to expand New customers stay active longer, send larger amounts, and cost less to serve 1Q21 3Q 20261Q 2021 3Q 20261Q 2021 1Q21 1. Transaction margin dollars per active customer is the cohort's transaction margin dollars in each tenure quarter divided by the cohort's active customers in that quarter. Transaction margin dollars is a non-GAAP measure. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix. 2. A cohort is defined as the calendar quarter of the customer’s first completed transaction.
Note: $ and share count in millions. 1. Adjusted net income, adjusted net income margin, adjusted EBITDA, adjusted EBITDA margin, free cash flow, and free cash flow margin are non-GAAP measures. Please see reconciliation of non-GAAP measures to the most comparable GAAP measures in the Appendix. 2. Outstanding shares reflect ending shares outstanding for the periods presented. 3. Operating cash flow for Q3 and Q4 2025 has been reclassified in line with Q4 2025 change in presentation. Operating leverage drove strong growth in Net Income, and Adj. EBITDA 14 Nov 2026 / © 2026 Remitly Inc. Adjusted Net Income1 Outstanding Shares2 Free Cash Flow1 Adjusted EBITDA1 FCF Margin 19% 20% 16% 26% 17% Adj. EBITDA Margin 15% 20% 22% 23% 24% Adj. Net Income Margin 2% 9% 11% 13% 14% YoY % Growth 6% 5% 3% 3% 2% Operating Cash Flow3 $90 $100 $82 $135 $93Net Income $9 $41 $49 $206 $68 Net Income $9 $41 $49 $206 $68
Note: We anticipate year over year growth for net income for the fourth quarter 2026 and full year 2026. This guidance is only effective as of the date given, November 4, 2026, and will not be updated or affirmed unless and until we publicly announce updated or affirmed guidance. Distribution or reference of this deck following November 4, 2026, does not constitute re- affirming guidance. We cannot, without unreasonable effort, provide a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income or to forecasted GAAP income before income taxes due to the variability, complexity, and limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA. 15 Nov 2026 / © 2026 Remitly Inc. 2026 $1.989b - $1.991b 2026 Revenue, 22% YoY growth $441m - $443m 2026 Adj. EBITDA, 22% Adj. EBITDA margin 4Q 2026 $531m - $533m 4Q 2026 Revenue, 20 to 21% YoY growth $104m - $106m 4Q 2026 Adj. EBITDA, 20% Adj. EBITDA margin 2026 and 4Q 2026 Outlook
Q & A 16 Nov 2026 / © 2026 Remitly Inc.
Thank you.
Appendix 18 Nov 2026 / © 2026 Remitly Inc.
Nov 2026 / © 2026 Remitly Inc.19 Some of the financial information and data contained in this presentation, such as Adjusted EBITDA, transaction margin dollars, transaction margin, adjusted net income, non-GAAP operating expenses, and free cash flow, have not been prepared in accordance with accounting principles generally accepted in the United States of America ("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. Specifically, the company believes the non-GAAP measures provide useful information to both management and investors by excluding certain items that may not be indicative of its recurring core operating results and business outlook. Our 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 our financial statements and the related notes thereto. Please refer to the non-GAAP reconciliations in this presentation 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 adjusted by (i) interest (income) expense, net; (ii) (benefit from) 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 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 restructuring and other costs. 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. We believe that the use of Adjusted EBITDA and non-GAAP operating expenses provides additional tools to assess operational performance and trends in, and in comparing our financial measures with, other similar companies, many of which present similar non-GAAP financial measures to investors. We calculate transaction margin dollars as income from operations, excluding expenses related to (i) customer support and operations; (ii) marketing; (iii) technology and development; (iv) general and administrative; and (v) depreciation and amortization. Transaction margin dollars can also be calculated as revenue less transaction expenses. We calculate transaction margin as transaction margin dollars divided by revenue. Transaction margin dollars and transaction margin are non-GAAP financial measures that management uses to evaluate the economic returns generated by the company's platform. We believe that transaction margin dollars provides useful information in understanding and evaluating our financial results. We calculate adjusted net income as net income adjusted for discrete income tax (benefit) expense from the release of our U.S. valuation allowance in 2026. We believe that adjusted net income provides useful information for comparing our results across periods because these discrete tax effects are not indicative of our ongoing operational performance. We calculate free cash flow as net cash provided by operating activities adjusted for capitalized expenditures that include purchases of property and equipment and capitalized internal-use software. Free cash flow is a key measure used by our management to understand the strength of our liquidity and available cash, and we believe that the presentation of this measure is useful because we are focused on growing our free cash flow generation over time. Free cash flow is not intended to represent the total increase or decrease in our cash balance for the period. Non-GAAP Financial Measures
Nov 2026 / © 2026 Remitly Inc. Reconciliation of net income to Adjusted EBITDA and calculation of Adjusted EBITDA margin (in thousands, except for percentages) 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 20 Non-GAAP Reconciliation Net income $67,553 $205,908 $49,053 $41,216 $8,829 Add: Interest (income) expense, net 622 1,667 784 762 50 (Benefit from) provision for income taxes 2,203 (141,264) 3,022 (5,067) 3,594 Depreciation and amortization 6,730 6,307 6,199 6,878 6,434 Other (income) expense, net (976) 370 881 1,904 (696) Donation of common stock 1,191 957 765 612 858 Stock-based compensation expense, net 39,627 34,491 27,536 41,282 39,974 Payroll taxes related to stock-based compensation expense, net 1,722 2,061 1,772 758 1,642 Restructuring and other costs 2,132 4,245 11,538 239 496 Adjusted EBITDA $120,804 $114,742 $101,550 $88,584 $61,181 Revenue $509,839 $495,156 $452,802 $442,177 $419,494 Adjusted EBITDA margin 23.7% 23.2% 22.4% 20.0% 14.6% Note: Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue.
Nov 2026 / © 2026 Remitly Inc. Reconciliation of transaction margin dollars and transaction margin (in thousands, except for percentages) 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 21 Non-GAAP Reconciliation Income from operations $69,402 $66,681 $53,740 $38,815 $11,777 Add: Customer support and operations 27,797 26,639 26,811 27,193 26,386 Marketing 103,971 104,388 86,362 92,800 91,778 Technology and development 80,103 74,049 79,603 82,139 80,421 General and administrative 59,403 55,918 55,147 56,746 55,973 Depreciation and amortization 6,730 6,307 6,199 6,878 6,434 Transaction margin dollars $347,406 $333,982 $307,862 $304,571 $272,769 Revenue $509,839 $495,156 $452,802 $442,177 $419,494 Transaction margin 68.1% 67.4% 68.0% 68.9% 65.0% Note: Transaction margin is defined as transaction margin dollars divided by revenue. Transaction Margin Dollars is calculated in the same manner as the measure we previously referred to as "Revenue Less Transaction Expenses" (RLTE) in prior periods. Prior period Transaction Margin Dollar amounts reflect historical RLTE results.
Nov 2026 / © 2026 Remitly Inc. Reconciliation of net income to adjusted net income (in thousands) 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 22 Non-GAAP Reconciliation Net income $67,553 $205,908 $49,053 $41,216 $8,829 Add: Discrete income tax (benefit) expense from release of valuation allowance1 4,147 (140,607) - - - Adjusted net income $71,700 $65,301 $49,053 $41,216 $8,829 Revenue $509,839 $495,156 $452,802 $442,177 $419,494 Adjusted net income margin 14.1% 13.2% 10.8% 9.3% 2.1% Note: Adjusted net income margin is defined as adjusted net income divided by revenue. 1. Discrete income tax (benefit) expense relates to the release of the U.S. valuation allowance in 2026.
Nov 2026 / © 2026 Remitly Inc. Reconciliation of cash flows from operations to free cash flow and calculation of free cash flow margin (in thousands, except for percentages) 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 23 Non-GAAP Reconciliation Net cash provided by operating activities1 $93,014 $134,620 $81,892 $99,909 $89,700 Less: Purchases of property and equipment (1,371) (1,184) (5,987) (6,361) (4,586) Capitalized internal-use software costs (3,862) (3,332) (3,199) (3,051) (3,326) Free cash flow $87,781 $130,104 $72,706 $90,497 $81,788 Revenue $509,839 $495,156 $452,802 $442,177 $419,494 Free cash flow margin 17.2% 26.3% 16.1% 20.5% 19.5% Note: Free cash flow margin is defined as free cash flow divided by revenue. 1. Beginning in the fourth quarter of 2025, the Company changed the presentation of certain cash activity related to customer funds assets and liabilities, which is comprised of disbursement prefunding, customer funds receivable, customer liabilities, and trade settlement liability included within the line item “Accrued expenses and other current liabilities” on the Consolidated Balance Sheets. Certain components of this activity were reclassified from cash flows from operating activities to cash flows from financing activities, reflected within the line item “Net change in customer funds assets and liabilities.” “Net cash provided by operating activities” for prior quarters have been reclassified in line with Q4 2025 change in presentation.
Nov 2026 / © 2026 Remitly Inc. Reconciliation of operating expenses to non-GAAP operating expenses (in thousands) 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 Customer support and operations $27,797 $26,639 $26,811 $27,193 $26,386 Excluding: Stock-based compensation expense, net 504 417 309 411 455 Excluding: Payroll taxes related to stock-based compensation expense, net 7 7 5 3 5 Excluding: Restructuring and other costs 33 - 1,644 - - Non-GAAP customer support and operations $27,253 $26,215 $24,853 $26,779 $25,926 Marketing $103,971 $104,388 $86,362 $92,800 $91,778 Excluding: Stock-based compensation expense, net 3,218 5,530 2,173 4,387 4,010 Excluding: Payroll taxes related to stock-based compensation expense, net 526 409 41 330 271 Excluding: Restructuring and other costs - 1,979 1,709 - 35 Non-GAAP marketing $100,227 $96,470 $82,439 $88,083 $87,462 Technology and development $80,103 $74,049 $79,603 $82,139 $80,421 Excluding: Stock-based compensation expense, net 22,759 15,939 17,158 25,656 24,392 Excluding: Payroll taxes related to stock-based compensation expense, net 762 1,127 1,268 272 475 Excluding: Restructuring and other costs 299 1,475 3,463 - 171 Non-GAAP technology and development $56,283 $55,508 $57,714 $56,211 $55,383 General and administrative $59,403 $55,918 $55,147 $56,746 $55,973 Excluding: Stock-based compensation expense, net 13,146 12,605 7,896 10,828 11,117 Excluding: Payroll taxes related to stock-based compensation expense, net 427 518 458 153 891 Excluding: Donation of common stock 1,191 957 765 612 858 Excluding: Restructuring and other costs 1,800 791 4,722 239 290 Non-GAAP general and administrative $42,839 $41,047 $41,306 $44,914 $42,817 24 Non-GAAP Reconciliation