Core Insights - Remitly Global's shares fell 23.7% following the release of its third-quarter results and preliminary 2026 guidance, which disappointed investors [1][5]. Financial Performance - Active customers increased by 21% to 8.9 million, leading to a 35% rise in send volume to $19.5 billion [3]. - Revenue grew by 25% to $419.5 million, surpassing estimates of $413.7 million, despite a declining take rate [3][4]. - Adjusted EBITDA rose by 29% to $61.2 million [3]. - The company reported a GAAP profit of $0.04 per share, translating to a net income of $8.8 million [4]. Guidance and Market Reaction - Remitly raised its full-year revenue guidance to between $1.619 billion and $1.621 billion, indicating a growth rate of 28% [4][5]. - The company anticipates positive GAAP net income for the year and adjusted EBITDA of $234 million to $236 million [5]. - However, the initial guidance for 2026 projected revenue growth in the high teens, which is a significant slowdown compared to 2025 and below the average analyst estimate of 19.2% [5][6]. Valuation - Following the sell-off, Remitly's forward P/E ratio is positioned at 12 based on 2026 adjusted EPS estimates, suggesting it may be well-priced for potential growth [6].

Core Insights - Remitly delivered strong Q2 results, exceeding expectations in both revenue and net income, leading to a significant increase in stock price [1][3][7] Financial Performance - Revenue grew by 34% to $411.9 million, surpassing expectations of $384.5 million [3] - Net income reached $6.5 million, a turnaround from a loss of $12.1 million in the same quarter last year, translating to a per-share profit of $0.03 [4] - Adjusted EBITDA increased from $26.2 million to $64 million [4] Customer and Market Growth - The company reported a 40% increase in send volume, totaling $18.5 billion [3] - Quarterly active customers rose by 24% to 8.5 million [3] Future Outlook - The company raised its full-year revenue guidance from $1.57 billion to a range of $1.61 billion to $1.62 billion [6][7] - Expected Q3 revenue is projected to be between $411 million and $413 million, indicating a growth of 22% to 23% [6] - A $200 million share buyback program was announced to help offset share-based compensation [7] Innovations and Strategic Initiatives - Recent innovations include Remitly Business, expanding the addressable market from $2 trillion to $22 trillion, and the upcoming Remitly One membership program [5] - The company is leveraging new technologies such as stablecoins and agentic AI to enhance services and explore new markets [6]