Financial Data and Key Metrics Changes - The company reported first quarter revenue of $361.6 million, representing a 34% year-over-year increase, and adjusted EBITDA of $58.4 million, resulting in a 16% adjusted EBITDA margin, marking a "rule of 50" quarter [32][33] - Quarterly active customers increased by 29% year-over-year to over 8 million, with send volume per active customer growing by 9% year-over-year, the highest growth rate since 2021 [33][34] - Send volume grew 41% to $16.2 billion, outpacing revenue growth, with a gross take rate of 2.24% [34][35] Business Line Data and Key Metrics Changes - The U.S. revenue grew 35%, accelerating from 33% in the previous quarter, while revenue from regions outside of India, the Philippines, and Mexico grew 45% year-over-year [35][36] - The company launched remittance services to Nigeria, Burkina Faso, and Mali, expanding its geographic footprint and increasing pay-in and payout options [15][16] Market Data and Key Metrics Changes - Revenue from the rest of the world grew 41% year-over-year, indicating strong performance outside of traditional markets [36] - The company reported that over 93% of transactions were dispersed in less than an hour, and more than 95% of transactions proceeded without customer support contact [25][26] Company Strategy and Development Direction - The company aims to diversify its business across various dimensions, including geographic expansion and new product offerings, to capture more growth and reduce risk [14][15] - The focus on building trust with customers is central to the company's strategy, as evidenced by high transaction reliability and customer satisfaction metrics [24][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of remittances amid macroeconomic uncertainties, highlighting the essential role of remittances in household stability [11][29] - The company raised its full-year outlook for both revenue and adjusted EBITDA, reflecting strong customer engagement and retention [9][44] Other Important Information - The company has embedded resilience into its foreign exchange management, which has become a competitive advantage [12][13] - The company continues to innovate and explore adjacent offerings, such as faster cross-border payments and fund storage solutions [21][22] Q&A Session Summary Question: What is driving the increase in send volume per active user? - Management indicated that increased engagement, higher send limits, and growth in high dollar senders contributed to the increase in send volume per active user [53][54][55] Question: Are there any environmental factors affecting the numbers? - Management noted that the majority of revenue comes from prior quarter cohorts, providing high visibility and confidence in future growth [62][63] Question: Can you elaborate on direct partner integrations? - Management highlighted that direct integrations lead to faster transactions, lower costs, and improved reliability, contributing to customer satisfaction [66][67][68] Question: What is the strategy for high dollar senders and micro business customers? - The company plans to tailor products and marketing strategies to effectively serve high dollar senders and micro business customers, capitalizing on existing demand [82][83][84] Question: What is the significance of the WhatsApp partnership? - Management expressed excitement about the WhatsApp integration, viewing it as a significant opportunity for customer acquisition and improved service delivery [86][87][88]

Financial Data and Key Metrics Changes - The company reported first quarter revenue of $361.6 million, representing a 34% year-over-year increase, and adjusted EBITDA of $58.4 million, resulting in a 16% adjusted EBITDA margin, marking a "rule of 50" quarter [30][31][40] - Quarterly active customers increased by 29% year-over-year to over 8 million, with send volume per active customer growing by 9% year-over-year, the highest growth rate since 2021 [31][32] Business Line Data and Key Metrics Changes - Send volume grew by 41% to $16.2 billion, outpacing revenue growth, with a gross take rate of 2.24% [32][34] - The company saw strong growth in high amount senders, with send volume related to transactions over $1,000 accelerating to over 45% year-over-year growth [16][36] Market Data and Key Metrics Changes - U.S. revenue grew by 35%, while the rest of the world grew by 41% year-over-year, with revenue from regions outside of India, the Philippines, and Mexico increasing by 45% [33][34] - The company launched remittance services to Nigeria, Burkina Faso, and Mali, expanding its geographic footprint and enhancing financial inclusion [14][15] Company Strategy and Development Direction - The company aims to build a resilient business model that can deliver across economic cycles and geopolitical changes, focusing on diversifying its business to capture more growth and reduce risk [7][13] - The strategy includes enhancing customer experiences through technology, expanding payment options, and leveraging partnerships to improve transaction efficiency [15][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of remittances and the strength of the diversified business model, despite macroeconomic uncertainties [28][40] - The company raised its full-year outlook for both revenue and adjusted EBITDA, expecting revenue between $1.574 billion and $1.587 billion, reflecting a growth rate of 25% to 26% [41][42] Other Important Information - The company reported a GAAP net income of $11.4 million, a significant improvement compared to a net loss of $21.1 million in the same quarter last year [40] - The company continues to invest in technology and product innovation to enhance customer experience and drive long-term growth [90][95] Q&A Session Summary Question: What is driving the increase in send volume per active user? - Management indicated that increased engagement, higher send limits, and diversification into micro business segments are key drivers of the increase in send volume per active user [50][52][53] Question: Are there any environmental factors influencing the numbers? - Management noted that the majority of revenue comes from prior quarter cohorts, providing high visibility and confidence in revenue durability, with similar drivers expected to continue [58][59] Question: Can you elaborate on direct partner integrations? - Management highlighted that direct integrations lead to faster transactions, lower costs, and improved reliability, contributing to higher customer satisfaction and retention [63][66] Question: What is the strategy for high dollar senders and micro business customers? - The strategy involves targeting specific corridors, improving marketing efficiency, and tailoring products to meet the needs of these customer segments [78][80] Question: What is the significance of the WhatsApp partnership? - Management expressed excitement about the WhatsApp integration, viewing it as a significant opportunity for customer acquisition and improved service delivery, particularly in Latin America [83][85]

Financial Performance - Remitly's Q1 2025 revenue reached $362 million, a 34% year-over-year increase[11] - Send volume grew by 41% year-over-year, reaching $162 billion in Q1 2025[37] - Quarterly active customers increased by 29% year-over-year, totaling 8 million[37] - GAAP Net Income was $11 million in Q1 2025[11] - Adjusted EBITDA for Q1 2025 was $58 million, representing a 162% margin[11] Future Outlook - Remitly projects 2025 revenue between $1574 billion and $1587 billion, indicating a 25% to 26% year-over-year growth[49] - The company anticipates 2025 Adjusted EBITDA to be in the range of $195 million to $210 million[49] - For Q2 2025, Remitly forecasts revenue between $383 million and $385 million, a 25% to 26% year-over-year increase[52] - Q2 2025 Adjusted EBITDA is projected to be between $45 million and $47 million[52] Strategic Initiatives - Remitly experiences over 45% year-over-year growth in send volume from transactions exceeding $1000[21] - The company highlights that over 93% of transactions are disbursed in less than 1 hour[29]

Customer Growth and Engagement - Active customers increased to approximately 8.0 million, representing a 29% growth compared to 6.2 million in the same period last year[106] - The mobile app has a 4.9 rating on the iOS App Store with over 3.4 million reviewers and a 4.8 rating on Google Play with over 1.0 million reviewers, indicating strong customer satisfaction[98] - Seasonal trends affect customer activity, with peaks typically observed during the fourth quarter around the Christmas holiday[115] Financial Performance - Revenue increased by $92.5 million, or 34%, to $361.6 million for the three months ended March 31, 2025, compared to $269.1 million for the same period in 2024[134] - Net income for the three months ended March 31, 2025, was $11.4 million, compared to a net loss of $21.1 million for the same period in 2024[132] - Adjusted EBITDA for the three months ended March 31, 2025 was $58.4 million, significantly higher than $22.8 million in the same period of 2024, reflecting improved operating performance[156] Transaction and Operational Metrics - Send volume rose 41% to $16.2 billion for the three months ended March 31, 2025, up from $11.5 billion in the same period last year[109] - The company operates in over 5,200 corridors, allowing efficient money transfers without the need for local operations in each country[98] - Transaction expenses rose by $31.5 million, or 35%, to $121.4 million for the three months ended March 31, 2025, primarily due to increased processing costs[136] Expenses and Investments - Investments in technology and development are expected to increase expenses in the short term but are aimed at long-term growth through new product innovations and enhanced customer experiences[116] - Customer support and operations expenses increased by $2.5 million, or 12%, but decreased as a percentage of revenue to 6% from 7%[138][139] - Marketing expenses increased by $5.3 million, or 8%, but decreased as a percentage of revenue to 20% from 25%[141][142] Cash Flow and Liquidity - Cash provided by operating activities for the three months ended March 31, 2025 was $132.9 million, a substantial increase from cash used in operating activities of $56.8 million in the prior year[162] - The company had cash and cash equivalents of $493.9 million as of March 31, 2025, up from $368.1 million at the end of 2024, indicating strong liquidity[158] - Future capital requirements will depend on revenue growth, sales and marketing expansion, and new product introductions, with expected increases in operating expenses to support business growth[160] Risk Management - Proprietary risk models and machine learning processes are utilized to manage fraud and other illegitimate activities, maintaining a differentiated customer experience[117] - The company engages with reputable pay-in and disbursement partners to mitigate credit risk and conducts credit reviews before onboarding[177] - The company monitors market risk exposures continuously to mitigate potential economic losses from adverse changes in market factors[176] Foreign Currency and Accounting Policies - A hypothetical 10% strengthening or weakening of the U.S. dollar would have resulted in a fair value change of approximately $19.5 million and $17.4 million for customer transaction-related assets and liabilities as of March 31, 2025, and December 31, 2024, respectively[179] - The company does not currently use derivatives to hedge foreign currency exchange risk but may consider doing so in the future[180] - The company has not reported material changes in critical accounting policies compared to the previous annual report[174]

Customer Growth - Active customers increased to 8.0 million, up 29% from 6.2 million[4] Financial Performance - Revenue totaled $361.6 million, up 34% from $269.1 million[4] - Net income was $11.4 million, compared to a net loss of $21.1 million[4] - Adjusted EBITDA was $58.4 million, up 157% from $22.8 million[4] - Net income for the three months ended March 31, 2025, was $11,352,000, a significant improvement compared to a net loss of $21,080,000 in the same period of 2024[21] - Adjusted EBITDA for Q1 2025 was $58,428,000, compared to $22,779,000 in Q1 2024, reflecting an increase of 156%[26] Revenue Outlook - Full year 2025 revenue outlook raised to between $1.574 billion and $1.587 billion, representing a growth rate of 25% to 26% year over year[4] - Second quarter 2025 revenue expected to be between $383 million and $385 million, representing a growth rate of 25% to 26% year over year[4] Adjusted EBITDA Projections - Adjusted EBITDA for 2025 expected to be in the range of $195 million to $210 million, an increase from the prior outlook[4] - Second quarter 2025 Adjusted EBITDA expected to be in the range of $45 million to $47 million[4] Asset and Equity Growth - Total assets increased to $1,100,586,000 as of March 31, 2025, up from $1,012,871,000 at December 31, 2024, representing a growth of 8.6%[19] - Total stockholders' equity increased to $723,476,000 as of March 31, 2025, up from $665,471,000 at December 31, 2024, representing an increase of 8.7%[19] Cash and Liabilities - Cash and cash equivalents at the end of Q1 2025 were $493,905,000, up from $368,097,000 at the end of Q4 2024, marking a 34% increase[21] - Total current liabilities rose to $352,157,000 as of March 31, 2025, compared to $329,008,000 at December 31, 2024, an increase of 7%[19] Expense Management - Customer support and operations expenses for Q1 2025 were $22,573,000, up from $20,119,000 in Q1 2024, indicating an increase of 12.2%[27] - Marketing expenses increased to $73,349,000 in Q1 2025 from $68,014,000 in Q1 2024, a rise of 7.5%[27] - Technology and development expenses for Q1 2025 were $73,851,000, compared to $63,206,000 in Q1 2024, reflecting a growth of 16.8%[27] Historical Comparisons - Net income for Q1 2024 was $(21,080) thousand, showing a decrease from $(28,314) thousand in Q1 2023[31] - Adjusted EBITDA for Q1 2024 reached $22,779 thousand, compared to $7,263 thousand in Q1 2023, indicating a significant improvement[31] - Total marketing expenses for Q1 2024 were $68,014 thousand, up from $44,123 thousand in Q1 2023, reflecting a 54% increase[33] - Non-GAAP customer support and operations expenses for Q1 2024 were $18,998 thousand, slightly down from $19,695 thousand in Q1 2023[33] - Technology and development expenses for Q1 2024 amounted to $63,206 thousand, an increase from $49,376 thousand in Q1 2023, representing a 28% rise[33] - Stock-based compensation expense for Q1 2024 was $34,088 thousand, compared to $29,234 thousand in Q1 2023, showing an increase of 16%[31] - The company reported a total of $136,967 thousand in stock-based compensation expenses for the year 2023[31] - The total operating expenses for Q1 2024 were $44,173 thousand, compared to $41,408 thousand in Q1 2023, indicating a 4% increase[33] Future Plans - The company expects continued growth in adjusted EBITDA, projecting $141,204 thousand for the year 2024[31] - The company plans to maintain its focus on market expansion and new product development in the upcoming quarters[31] - The company continues to expand its suite of products to enhance its digital financial services offerings[14]

Core Insights - Remitly Global, Inc. reported strong financial results for Q1 2025, significantly exceeding expectations and raising its full-year outlook for revenue and Adjusted EBITDA [2][11]. Financial Performance - Active customers increased to 8.0 million, up 29% from 6.2 million in Q1 2024 [11]. - Send volume rose to $16.2 billion, a 41% increase from $11.5 billion [11]. - Revenue for Q1 2025 totaled $361.6 million, compared to $269.1 million in Q1 2024, reflecting a 34% growth [11]. - Net income was $11.4 million, a turnaround from a net loss of $21.1 million in the previous year [11]. - Adjusted EBITDA reached $58.4 million, up 157% from $22.8 million in Q1 2024 [11]. Financial Outlook - For fiscal year 2025, total revenue is expected to be in the range of $1.574 billion to $1.587 billion, representing a year-over-year growth rate of 25% to 26% [11]. - The company anticipates a positive GAAP net income for 2025 and Adjusted EBITDA in the range of $195 million to $210 million, an increase from the prior outlook of $180 million to $200 million [11]. - For Q2 2025, total revenue is projected to be between $383 million and $385 million, also indicating a growth rate of 25% to 26% year over year [11]. Operational Metrics - The company updated its non-GAAP financial measures to exclude payroll taxes related to stock-based compensation, enhancing the evaluation of underlying operating performance [3][24]. - Remitly's total costs and expenses for Q1 2025 were $349.4 million, compared to $289.1 million in Q1 2024 [15].

Company Overview - Remitly Global is a remittance provider with a market cap of $4.1 billion, experiencing significant growth and market share gains [2][4]. - The company has 7.8 million active customers as of Q4 2024, reflecting a year-over-year growth of 32% [3]. Market Position - Remitly is gaining customers from Western Union due to lower fees and user-friendly services, targeting key immigrant groups in the U.S. [4]. - The company currently holds approximately 3% market share in the remittance sector, processing $15.4 billion in volume in Q4 of the previous year [4]. Growth Potential - The remittance market is expanding, providing Remitly with a dual advantage of market share growth and sector growth, leading to a cumulative revenue increase of 130% over the last three years [6]. - Revenue growth is expected to continue, with projections indicating that Remitly could achieve over $3 billion in annual sales within five years [11]. Profitability and Financials - Remitly's gross margin is approaching 60%, despite posting a slight operating loss last year due to high spending on marketing and technology [7][8]. - The company is expected to reach operating leverage as it scales, with potential profit margins approaching 20% in the next five years [9]. Investment Appeal - The current market cap undervalues Remitly's profit potential, with a projected P/E ratio dropping below 10 if revenue growth continues [12]. - Investing $2,000 today could yield 100 shares of a fast-growing company at a reasonable price compared to other high-growth stocks [2][12].

Core Viewpoint - Remitly Global, Inc. will report its first quarter financial results on May 7, 2025, and will host a conference call to discuss these results with financial analysts [1]. Group 1: Financial Results Announcement - The company will announce its first quarter financial results after market close on May 7, 2025 [1]. - A conference call and live webcast will take place at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day [1][2]. Group 2: Conference Call Details - To access the conference call, participants must register through a provided link, after which they will receive dial-in details and a unique access code [2]. - The company recommends registering at least 10 minutes before the call starts to ensure connection [2]. Group 3: Webcast Information - A live webcast and replay of the conference call will be available on the Investor Relations section of Remitly's website [3]. - For those not asking questions, listening via the webcast is recommended [3]. Group 4: Company Overview - Remitly is a provider of digital financial services operating in over 170 countries, focusing on cross-border payments [4]. - The company aims to enhance its product offerings to fulfill its vision of transforming lives globally [4].

Remitly Global, Inc. (RELY) has been beaten down lately with too much selling pressure. While the stock has lost 28.1% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillat ...

Market Overview - The Nasdaq-100 Index has experienced a significant decline, falling into a 13.2% correction, with many stocks down 20% or more [1][2] Company Analysis: Remitly - Remitly is a key player in the remittance market, currently facing a 27% drawdown [3] - The company reported a 33% year-over-year revenue growth, reaching $352 million, driven by a 32% increase in active customers to 7.8 million and a 39% growth in send volume to $15.4 billion [4] - Remitly holds a 3% market share in remittances and has seen its revenue outside the U.S. and Canada grow at a 100% year-over-year rate, reaching $297.1 million in 2024, accounting for 23.5% of total revenue [5] - The company has a market cap of $3.9 billion and generated $1.26 billion in revenue in 2024, with projections of reaching $2.5 billion by 2027 and a potential net income of $500 million, resulting in a price-to-earnings ratio below 8 [7] Company Analysis: Coupang - Coupang is a leading e-commerce platform in South Korea, comparable to Amazon in North America, with a focus on rapid shipping and low-cost delivery [8] - The company generated $30 billion in revenue in 2024, reflecting a 29% growth on a foreign currency-neutral basis [9] - Coupang is expanding its offerings with new initiatives such as food delivery, international expansion into Taiwan, video streaming, and luxury shopping through an acquisition of Farfetch [10] - The company is projected to generate $50 billion in annual revenue in the coming years, with a potential net income of $5 billion, while currently having a market cap below $40 billion [11]