Remitly (RELY) - 2025 Q3 - Quarterly Results

Customer Growth - Active customers increased to 8.9 million, up 21% from 7.3 million[5] Financial Performance - Revenue totaled $419.5 million, representing a 25% increase from $336.5 million[5] - Net income was $8.8 million, a 361% increase from $1.9 million[5] - Adjusted EBITDA was $61.2 million, up 29% from $47.4 million[5] - Net income for the nine months ended September 30, 2025, was $26,717, compared to a net loss of $31,254 for the same period in 2024[21] - Adjusted EBITDA for the nine months ended September 30, 2025, was $183,606, a significant increase from $96,468 in 2024, reflecting a 90.4% year-over-year growth[24] - Net cash provided by operating activities for the nine months ended September 30, 2025, was $175,464, compared to $138,850 in 2024, a 26.3% increase[21] Revenue Outlook - Full year 2025 revenue outlook raised to a range of $1.619 billion to $1.621 billion, reflecting a growth rate of 28% year over year[5] - Fourth quarter 2025 revenue expected in the range of $426 million to $428 million, representing a growth rate of 21% to 22% year over year[5] - Adjusted EBITDA for 2025 expected to be in the range of $234 million to $236 million, an increase from prior outlook[5] - GAAP net income expected to be positive for 2025 and the fourth quarter[5] Asset and Liability Management - Total assets increased to $1,213,684, up from $1,012,871, representing a 19.8% growth year-over-year[19] - Total liabilities increased to $416,517 from $347,400, indicating a 19.9% rise year-over-year[19] - Stockholders' equity rose to $797,167, up from $665,471, reflecting a 19.7% increase[19] Expense Management - Customer support and operations expenses for the three months ended September 30, 2025, were $26,386, up from $21,792 in 2024, a 21.8% increase[26] - Marketing expenses for the nine months ended September 30, 2025, totaled $250,103, compared to $219,862 in 2024, reflecting a 13.7% increase[26] - Technology and development expenses for the three months ended September 30, 2025, were $80,421, an increase from $68,446 in 2024, representing a 17.5% growth[26] Strategic Focus - Company continues to focus on sustainable, profitable growth while investing in innovation[2]