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1. Company Snapshot

1.a. Company Description

Remitly Global, Inc.provides digital financial services for immigrants and their families.It primarily offers cross-border remittance services in approximately 150 countries.


The company was incorporated in 2011 and is headquartered in Seattle, Washington.

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1.b. Last Insights on RELY

Remitly Global's recent performance was negatively impacted by concerns over an immigration crackdown. Despite this, the company's business is growing rapidly, with rising send volumes and digital momentum. The company's Q3 2025 earnings call revealed a strong growth outlook, driven by new U.S. expansion. Additionally, Remitly's cash generation and considerable valuation discount make it an attractive consideration for investors. A recent upgrade to a Strong Buy rating by Zacks Rank reflects growing optimism about its earnings prospects.

1.c. Company Highlights

2. Remitly's Q3 2025 Earnings: A Strong Performance

Remitly's third-quarter 2025 earnings report was a resounding success, with revenue growing 25% year-over-year to $419.5 million, and adjusted EBITDA margins expanding to 15%. However, EPS came in at $0.04, missing estimates of $0.177. Send volume grew 35% to $19.5 billion, driven by growth in transactions per active customer and average transaction size. The company's retention levels continue to remain strong, with a take rate of 2.15%.

Publication Date: Nov -10

📋 Highlights
  • Revenue & EBITDA Growth:: Q3 revenue hit $419.5M (+25% YoY), adjusted EBITDA $61.2M (15% margin).
  • Business Send Volume Surge:: Remitly Business send volume nearly doubled sequentially, with 10K+ active business users.
  • Flex Product Adoption:: Flex surpassed 100K active users, with revenue nearly doubling sequentially.
  • Transaction Cost Efficiency:: Transaction expenses dropped 35% as a % of revenue, aided by stablecoin integration.
  • High-Value Sender Growth:: Senders >$1,000 saw 40% YoY volume growth, with $100K per transfer limits.

Business Growth and Product Innovation

Remitly Business continues to scale rapidly, with a near doubling of business send volume sequentially. The company has expanded its product to onboard, verify, and send internationally in minutes, driving efficient and scalable growth. High amount senders have also seen significant growth, with send limits expanded to up to $100,000 per transfer and marketing campaigns launched to accelerate awareness and adoption.

Remitly One and Flex

Remitly One represents the company's next chapter in product evolution, offering a long-term financial relationship for customers. The flexible funding solution, Flex, has seen rapid adoption, with over 100,000 active users. Flex revenue has nearly doubled sequentially, supported by instant funding fees, membership revenue, and cross-border payment revenue. As Matthew Oppenheimer mentioned, "Remitly One members get access to funds with multiple withdrawals and repayment on their own terms."

Operational Efficiency and Profitability

The company's focus on driving profitable growth has resulted in a 35% reduction in transaction expenses as a percentage of revenue. Remitly has also started leveraging stablecoins to unlock network efficiencies and mitigate fraud trends. The LTV to CAC was 6x, with a payback period under 12 months, indicating strong ROI investments in growth initiatives.

Outlook and Valuation

Remitly expects to continue driving growth through new customer expansion efforts, product portfolio expansion, and a shift from cash to digital remittances. For 2026, analysts estimate revenue growth at 18.4%. With a P/S Ratio of 1.82 and an EV/EBITDA of 38.83, the market is pricing in significant growth expectations. The company's ROE and ROIC are currently at 2.02% and 2.09%, respectively, indicating room for improvement in returns.

3. NewsRoom

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The Remitly Reassessment: What Divisadero's 95 Million Exit Tells Us About Digital Money Movement

Dec -03

Source: fool.com

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Why Remitly Global Slipped 16% in November

Dec -03

Source: fool.com

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Creative Planning Purchases 13,413 Shares of Remitly Global, Inc. $RELY

Dec -02

Source: defenseworld.net

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Are Investors Sleeping On RELY's Cash Yield?

Nov -20

Source: forbes.com

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Fintech Stocks Are on Sale. This One Looks Like a Screaming Buy.

Nov -16

Source: fool.com

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1 Top Growth Stock Down 55% to Buy After Its Recent Pullback

Nov -16

Source: fool.com

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Mario Cibelli's Strategic Moves: A Closer Look at Remitly Global Inc's Impact

Nov -14

Source: gurufocus.com

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Remitly Global, Inc. (RELY) Q3 2025 Earnings Call Transcript

Nov -06

Source: seekingalpha.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (11.43%)

6. Segments

Digital Financial Services

Expected Growth: 11.43%

Remitly's 11.43% growth in Digital Financial Services is driven by increasing adoption of online money transfer services, expansion into new markets, strategic partnerships, and investments in digital infrastructure. Additionally, the company's focus on customer experience, competitive pricing, and innovative products such as Passbook and Remitly Rewards contribute to its growth momentum.

7. Detailed Products

Remitly Express

A fast and secure way to send money across borders, with competitive exchange rates and low fees.

Remitly Economy

A cost-effective option for sending money internationally, with lower fees and competitive exchange rates.

Remitly Home

A convenient and secure way to send money directly to a recipient's home, with real-time tracking and updates.

Remitly Business

A customized solution for businesses to make international payments, manage cash flow, and streamline operations.

Remitly Wallet

A digital wallet that allows users to store, send, and receive money, with real-time exchange rates and low fees.

8. Remitly Global, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Remitly Global, Inc. operates in a niche market, providing cross-border payment services. While there are substitutes available, such as traditional banks and other fintech companies, Remitly's focus on speed, convenience, and competitive exchange rates reduces the threat of substitutes.

Bargaining Power Of Customers

Remitly's customers are primarily individuals and small businesses, which reduces their bargaining power. Additionally, the company's user-friendly platform and competitive pricing make it difficult for customers to negotiate better terms.

Bargaining Power Of Suppliers

Remitly's suppliers are primarily banks and other financial institutions that provide payment processing services. The company's scale and volume of transactions give it bargaining power over its suppliers, reducing their negotiating ability.

Threat Of New Entrants

The fintech industry is rapidly evolving, and new entrants are emerging with innovative solutions. Remitly faces a high threat of new entrants, which could potentially disrupt its market share and competitive advantage.

Intensity Of Rivalry

The cross-border payment market is highly competitive, with established players like PayPal, Western Union, and MoneyGram. Remitly faces intense rivalry from these competitors, which could lead to pricing pressures and reduced market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 21.27%
Debt Cost 3.95%
Equity Weight 78.73%
Equity Cost 5.09%
WACC 4.85%
Leverage 27.01%

11. Quality Control: Remitly Global, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Remitly Global

A-Score: 4.7/10

Value: 2.6

Growth: 6.0

Quality: 6.2

Yield: 0.0

Momentum: 8.5

Volatility: 4.7

1-Year Total Return ->

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Stock-Card
Marqeta

A-Score: 4.2/10

Value: 5.4

Growth: 7.4

Quality: 3.4

Yield: 0.0

Momentum: 5.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
MongoDB

A-Score: 4.1/10

Value: 4.0

Growth: 7.9

Quality: 4.2

Yield: 0.0

Momentum: 6.5

Volatility: 2.0

1-Year Total Return ->

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Stock-Card
Verint Systems

A-Score: 4.0/10

Value: 5.9

Growth: 4.7

Quality: 5.9

Yield: 0.0

Momentum: 3.0

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
Five9

A-Score: 3.4/10

Value: 3.1

Growth: 7.6

Quality: 3.4

Yield: 0.0

Momentum: 2.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
Confluent

A-Score: 3.3/10

Value: 4.4

Growth: 6.6

Quality: 3.8

Yield: 0.0

Momentum: 3.0

Volatility: 2.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

13.45$

Current Price

13.45$

Potential

-0.00%

Expected Cash-Flows