Remitly Global, Inc. (NASDAQ:RELY) Q2 2024 Earnings Conference Call July 31, 2024 5:00 PM ET Company Participants Stephen Shulstein – Vice President, Investor Relations Matt Oppenheimer – Co-Founder and Chief Executive Officer Hemanth Munipalli – Chief Financial Officer Conference Call Participants Tien-Tsin Huang – JPMorgan Andrew Schmidt – Citi Allison Gelman – Barclays Will Nance – Goldman Sachs David Scharf – Citizens JMP Darrin Peller – Wolfe Research Cris Kennedy – William Blair Alex Markgraff – KeyB ...

Remitly Global, Inc. (RELY) came out with a quarterly loss of $0.06 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.11 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this company would post a loss of $0.14 per share when it actually produced a loss of $0.11, delivering a surprise of 21.43%. Over the last four quarters, the company has surp ...

图 Remitly 1 July 2024 / © 2024 Remitly Inc. Investor Presentation Second Quarter 2024 Earnings July 31, 2024 Disclosures 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 our future operating results and financial position, including our fiscal y ...

SEATTLE, July 31, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of digital financial services that transcend borders, today announced the appointment of seasoned finance executive Vikas Mehta as Chief Financial Officer, succeeding Hemanth Munipalli, effective August 19, 2024. Munipalli is leaving for family reasons, and will oversee an orderly transition, remaining with the company through September 30, 2024. "I am delighted to welcome Vikas to Remitly as our Chief Financi ...

SEATTLE, July 31, 2024 (GLOBE NEWSWIRE) -- Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of digital financial services that transcend borders, today announced the appointment of seasoned finance executive Vikas Mehta as Chief Financial Officer, succeeding Hemanth Munipalli, effective August 19, 2024. Munipalli is leaving for family reasons, and will oversee an orderly transition, remaining with the company through September 30, 2024. "I am delighted to welcome Vikas to Remitly as our Chief Financi ...

Table of Contents Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-40822 Remitly Global, Inc. (Exact name of registrant as specified in its charter) Delaware 7372 83-2301143 (State or o ...

Customer Growth and Engagement - Active customers increased to 6.9 million, up 36% year over year from 5.0 million[1] - Send volume increased to $13.2 billion, up 38% year over year from $9.6 billion[1] Revenue and Profitability - Revenue totaled $306.4 million, up 31% year over year from $234.0 million[1] - Net loss improved to $12.1 million, a 36% improvement year over year from $18.9 million[1] - Adjusted EBITDA increased to $25.1 million, up 23% year over year from $20.4 million[1] - Total revenue for fiscal year 2024 is expected to be in the range of $1,230 million to $1,250 million, representing a growth rate of 30% to 32% year over year[2] - Adjusted EBITDA for fiscal year 2024 is expected to be in the range of $90 million to $100 million[2] - Net loss for the six months ended June 30, 2024, was $33.2 million, compared to $47.2 million in the same period in 2023[15] - Adjusted EBITDA for the six months ended June 30, 2024, was $44.4 million, up from $25.8 million in the same period in 2023[16] Expenses - Transaction expenses for Q2 2024 were $107.8 million, up from $80.2 million in Q2 2023[12] - Marketing expenses for Q2 2024 were $77.1 million, up from $53.6 million in Q2 2023[12] - Technology and development expenses for Q2 2024 were $67.6 million, up from $54.3 million in Q2 2023[12] - Marketing expenses increased to $145.1 million for the six months ended June 30, 2024, from $97.7 million in the same period in 2023[18] - Technology and development expenses rose to $130.8 million for the six months ended June 30, 2024, compared to $103.7 million in the same period in 2023[19] - General and administrative expenses for the three months ended June 30, 2024, were $45.889 million, compared to $39.490 million in the same period in 2023[20] - General and administrative expenses for the six months ended June 30, 2024, were $90.062 million, compared to $80.898 million in the same period in 2023[20] - Non-GAAP general and administrative expenses for the three months ended June 30, 2024, were $33.866 million, compared to $27.708 million in the same period in 2023[20] - Non-GAAP general and administrative expenses for the six months ended June 30, 2024, were $67.200 million, compared to $58.528 million in the same period in 2023[20] Cash Flow and Financial Position - Cash and cash equivalents decreased from $323.7 million in December 2023 to $185.2 million in June 2024[14] - Total assets decreased from $1,036.3 million in December 2023 to $950.2 million in June 2024[14] - Long-term debt decreased significantly from $130.0 million in December 2023 to $15.0 million in June 2024[14] - Net cash used in operating activities improved to $7.9 million for the six months ended June 30, 2024, from $54.2 million in the same period in 2023[15] - Customer funds receivable increased to $461.8 million in June 2024 from $379.4 million in December 2023[14] Stock-Based Compensation and Other Costs - Stock-based compensation expense, net, was $71.2 million for the six months ended June 30, 2024, up from $64.4 million in the same period in 2023[16] - Stock-based compensation expense, net for the three months ended June 30, 2024, was $12.023 million, compared to $11.466 million in the same period in 2023[20] - Stock-based compensation expense, net for the six months ended June 30, 2024, was $22.152 million, compared to $20.881 million in the same period in 2023[20] - Acquisition, integration, restructuring, and other costs for the six months ended June 30, 2024, were $0.710 million, compared to $1.489 million in the same period in 2023[20]

Active customers up 36% year over year Revenue up 31% year over year Net loss improved 36% year over year; Adjusted EBITDA up 23% year over year SEATTLE, July 31, 2024 (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, 2024. "We are pleased with our second quarter performance as our product experience delights both new and existing customers," said Matt Oppenheimer, co-founde ...

Remitly Second Quarter 2024 Financial Results Conference Call and Webcast Information: When: Wednesday, July 31st, 2024 Time: 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time Live Webcast and Replay: A live webcast and replay of the call will be accessible from the Investor Relations section of the Company's website at https://ir.remitly.com/. For those not planning to ask a question of management, the Company recommends listening via the webcast. Remitly is a trusted provider of digital financial services t ...

Remitly Second Quarter 2024 Financial Results Conference Call and Webcast Information: When: Wednesday, July 31st, 2024 Time: 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time Live Webcast and Replay: A live webcast and replay of the call will be accessible from the Investor Relations section of the Company's website at https://ir.remitly.com/. For those not planning to ask a question of management, the Company recommends listening via the webcast. Remitly is a trusted provider of digital financial services t ...