Want to see RELY full AI Analyst Report?
Top Page
Remitly Global
(NASDAQ:RELY)
Select Model
Select Model
Rating:81Outperform
Price Target:
$28.00
▲(24.28% Upside)
Action:Reiterated
Date:08/06/26
RELY scores well primarily on improved fundamentals—strong profitability and especially strong free cash flow with low leverage—reinforced by upbeat forward guidance and operational momentum from the latest earnings call. Technicals are supportive with the stock above major moving averages. The main constraint on the score is valuation (P/E ~45) and the need to monitor slowing growth and margin variability (including a lower Q3 margin guide and prior-period gross margin compression).
Positive Factors
Free Cash Flow Strength
Consistent, high-quality free cash flow that nearly equals net income demonstrates durable cash conversion. That cash generation supports reinvestment, buybacks and buffer against shocks, reduces refinancing risk given low leverage, and underpins long-term financial flexibility and capital allocation optionality.
Negative Factors
Gross Margin Compression
A sustained drop in gross margin materially limits operating leverage potential even with cost cuts. If margin compression reflects adverse mix, FX economics, or higher partner/disbursement costs, it can reduce incremental profitability on added volume and make long-term margin targets harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Consistent, high-quality free cash flow that nearly equals net income demonstrates durable cash conversion. That cash generation supports reinvestment, buybacks and buffer against shocks, reduces refinancing risk given low leverage, and underpins long-term financial flexibility and capital allocation optionality.
Read all positive factors
Remitly Global Key Performance Indicators (KPIs)
Any
Active Customers
Reflects the number of individuals using Remitly's services, indicating customer base size, engagement, and potential for revenue growth through increased transactions.
Reflects the number of individuals using Remitly's services, indicating customer base size, engagement, and potential for revenue growth through increased transactions.
Data provided by:
The Fly
The FlyRemitly Global (RELY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.42B
Dividend YieldN/A
Average Volume (3M)3.61M
Price to Earnings (P/E)18.1
Beta (1Y)1.31
Revenue Growth23.79%
EPS Growth1992.92%
CountryUS
Employees3,200
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)1.45
Shares Outstanding211,684,050
10 Day Avg. Volume2,804,139
30 Day Avg. Volume3,608,930
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)3.27
Price to Sales (P/S)1.74
P/FCF Ratio9.61
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$31.38Price Target Upside39.26% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)0.64
Revenue Forecast (FY)$1.97B
Remitly Global Business Overview & Revenue Model
Company Description
Remitly Global, Inc. specializes in providing digital financial services tailored for immigrants and their families. Primarily, it enables international money transfers, operating in nearly 150 countries. Founded in 2011, the company maintains its...
How the Company Makes Money
Remitly primarily makes money from transaction-based revenue generated when customers send international remittances. The main revenue stream is service fees charged to the sender on each transfer (fee levels can vary by send/receive country corri...
Remitly Global Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Positive
The call portrayed a strong operational and financial quarter with record revenue, adjusted EBITDA, and free cash flow, robust customer and volume growth, meaningful product launches (Global Card, stablecoin wallet) and clear AI-driven productivity gains. Management provided confident forward guidance, continued share repurchases, and regulatory expansion. Lowlights include corridor-specific FX/regulatory headwinds (notably India), nascent monetization of receivers and other growth accelerators, quarterly variability in transaction losses, and a Q3 margin guide below Q2 driven by planned reinvestments and normalization assumptions. On balance, the positives — scale, profitability, cash generation, product momentum and AI-led efficiency — outweigh the early-stage risks and short-term headwinds.Positive Updates
Record Revenue and Profitability
Q2 revenue of $495M, up 20% year-over-year and $11M above midpoint of guidance; adjusted EBITDA of $115M (23% margin), $28M above midpoint of guidance; record GAAP profitability supported by a $140.6M release of tax valuation allowance.
Negative Updates
India Corridor Headwinds in June
High-value sender volume softened in June due to Indian rupee fluctuations and short-term foreign currency mobilization measures from the Reserve Bank of India; company expects normalization over the year.
Read all updates
Q2-2026 Updates
Positive
Negative
Record Revenue and Profitability
Q2 revenue of $495M, up 20% year-over-year and $11M above midpoint of guidance; adjusted EBITDA of $115M (23% margin), $28M above midpoint of guidance; record GAAP profitability supported by a $140.6M release of tax valuation allowance.
Read all positive updates
Company Guidance
Management guided Q3 2026 revenue of $505–$507 million (≈20–21% YoY), with send volume expected to grow faster than revenue, revenue to modestly exceed quarterly active user growth, and send volume per active customer to rise mid‑ to high‑single digits; they expect Q3 adjusted EBITDA of $92–$94 million (≈18–19% margin). For the full year they expect revenue of $1.978–$1.988 billion (21–22% growth) and adjusted EBITDA of $410–$415 million (~21% margin, >400 bps expansion YoY). Management said Q3 transaction margins should be slightly higher year‑over‑year and full‑year transaction margins broadly in line with 2025, are planning for normalized transaction losses (~11 bps) for the back half, expect continued marketing efficiencies even as Q3 marketing spend per QAU is slightly higher, and reiterated total company revenue growth of >20% in H2 2026.Remitly Global Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
90
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.81B | 1.64B | 1.26B | 944.28M | 653.56M | 458.61M |
| Gross Profit | 1.09B | 934.37M | 748.44M | 532.65M | 326.63M | 221.47M |
| EBITDA | 211.23M | 104.27M | -8.96M | -96.47M | -104.95M | -31.20M |
| Net Income | 305.01M | 67.93M | -36.98M | -117.84M | -114.02M | -38.76M |
Balance Sheet | ||||||
| Total Assets | 1.57B | 1.46B | 1.01B | 1.04B | 695.95M | 625.66M |
| Cash, Cash Equivalents and Short-Term Investments | 676.39M | 828.88M | 368.10M | 323.71M | 300.63M | 403.26M |
| Total Debt | 38.26M | 220.26M | 16.29M | 142.99M | 9.20M | 6.15M |
| Total Liabilities | 440.61M | 589.92M | 347.40M | 506.97M | 215.87M | 145.34M |
| Stockholders Equity | 1.13B | 868.79M | 665.47M | 529.34M | 480.09M | 480.33M |
Cash Flow | ||||||
| Free Cash Flow | 436.17M | 295.65M | 176.78M | -62.69M | -112.33M | -22.93M |
| Operating Cash Flow | 449.39M | 325.08M | 194.49M | -53.59M | -108.66M | -18.39M |
| Investing Cash Flow | -71.43M | -69.93M | -17.70M | -50.04M | -7.31M | -4.53M |
| Financing Cash Flow | -107.41M | -89.78M | -127.44M | 126.65M | 14.59M | 238.20M |
Remitly Global Technical Analysis
Positive
22.53
Price Trends
22.59
Positive
21.30
Positive
17.82
Positive
Market Momentum
0.62
Negative
62.88
Neutral
61.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RELY, the sentiment is Positive. The current price of 22.53 is below the 20-day moving average (MA) of 23.88, below the 50-day MA of 22.59, and above the 200-day MA of 17.82, indicating a bullish trend. The MACD of 0.62 indicates Negative momentum. The RSI at 62.88 is Neutral, neither overbought nor oversold. The STOCH value of 61.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RELY.
Remitly Global Risk Analysis
Remitly Global disclosed 67 risk factors in its most recent earnings report. Remitly Global reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Remitly Global Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $5.42B | 18.11 | 32.97% | ― | 23.79% | 1992.92% | |
77 Outperform | $4.35B | 21.47 | 37.04% | 1.36% | 46.60% | 66.04% | |
74 Outperform | $5.42B | 24.29 | 15.06% | ― | 7.03% | -8.05% | |
74 Outperform | $2.42B | 50.50 | 7.27% | ― | 6.31% | -48.91% | |
66 Neutral | $2.78B | 10.10 | 23.02% | ― | 5.76% | -3.78% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
60 Neutral | $353.48M | 23.27 | 11.58% | ― | -13.27% | -62.21% |
* Technology Sector Average
RELY
Remitly Global
26.30
6.70
34.18%
ACIW
ACI Worldwide
53.44
6.88
14.78%
EEFT
Euronet Worldwide
73.20
-22.76
-23.72%
IMXI
International Money Express
14.59
0.17
1.18%
PAYO
Payoneer
7.13
0.40
5.94%
DLO
DLocal
14.17
-1.23
-7.99%
Remitly Global Corporate Events
Business Operations and StrategyFinancial Disclosures
Remitly Global Delivers Record Quarter and Raises Outlook
Positive
Aug 5, 2026
On August 5, 2026, Remitly reported record results for the quarter ended June 30, 2026, with quarterly active customers surpassing 10.2 million and send volume rising 27% year over year to $23.5 billion. Revenue climbed 20% to $495.2 million, net ...
Executive/Board ChangesShareholder Meetings
Remitly Global Shareholders Back Board, Pay and Auditor
Positive
Jun 11, 2026
On June 10, 2026, Remitly Global, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders elected Bora Chung, Laurent Le Moal, and Nigel Morris to the board of directors for terms expiring at the 2029 annual meeting. These elections ...
Executive/Board Changes
Remitly Global Announces Resignation of Chief Product Officer
Negative
Jun 8, 2026
On June 8, 2026, Remitly Global, Inc. announced that Chief Product and Technology Officer Ankur Sinha has submitted his resignation, effective June 19, 2026. The company noted that Sinha’s departure is not related to any disagreement over it...
Business Operations and StrategyFinancial Disclosures
Remitly Global Reports Record Q1 2026 Results, Profitability Soars
Positive
May 6, 2026
Remitly Global reported record results for the first quarter ended March 31, 2026, with active customers rising 20% year over year to 9.6 million and send volume climbing 37% to $22.1 billion. Revenue grew 25% to $452.8 million, while net income s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.