- 2025 Revenue & EBITDA Growth Revenue surged 29% to $1.635 billion, adjusted EBITDA hit $272 million (17% margin), surpassing guidance.
- Customer & Send Volume Expansion Quarterly active users reached 9 million, with $75 billion annual send volume and $1.6 billion revenue.
- High-Value Sender Growth Very high amount sender volume grew 105% YoY, outpacing high amount senders (14% growth).
- Free Cash Flow & Buybacks Free cash flow tripled to $283 million in 2025, with plans to increase share repurchases in 2026.
- 2026 Guidance Q1 revenue expected $436–438M (21% growth), full-year adjusted EBITDA $340–360M (18% margin), driven by AI and product scaling.
Revenue Growth Drivers
The company's revenue growth was driven by a continued shift in mix towards volumes from high amount senders and very high amount senders, with high amount sender volume growing 14% year-over-year and very high amount sender volume growing 105% year-over-year. As Vikas Mehta noted, "We saw a continued shift in mix towards volumes from high amount senders and very high amount senders." This trend is expected to continue, with the company forecasting revenue growth of 21% in Q1 2026.
New Products and Operational Efficiency
Remitly is also seeing strong traction from its new products, including Remitly Business, Send Now, Pay Later, Wallet, and Card. The company aims to scale these products to drive adoption and leverage them as a means of attracting first-time users. Additionally, the company is focusing on operational efficiency, with a prudent use of AI to improve operating efficiency. As Sebastian Gunningham, the new CEO, noted, "AI is a significant tailwind for the business."
Valuation and Outlook
With a P/E Ratio of 52.89 and an EV/EBITDA of 36.3, the market is pricing in significant growth expectations. Analysts estimate next year's revenue growth at 19.3%. The company's strong financial performance, combined with its growth prospects, makes it an attractive investment opportunity. The Free Cash Flow Yield of 5.4% also provides a relatively attractive return. However, investors should be cautious about the high valuation multiples and monitor the company's ability to deliver on its growth expectations.