Remitly Global, Inc. ( (RELY) ) has released its Q1 earnings. Here is a breakdown of the information Remitly Global, Inc. presented to its investors.
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Remitly Global, Inc. is a digital financial services company that provides cross-border payment solutions, enabling fast, reliable, and secure money transfers across more than 170 countries.
In its first quarter of 2025, Remitly reported financial results that surpassed its expectations, leading to an upward revision of its full-year outlook. The company attributes its strong performance to the growing trust of its customers and its ability to scale efficiently.
Key highlights from the first quarter include a 41% increase in send volume to $16.2 billion and a 34% rise in revenue to $361.6 million compared to the same period last year. Remitly also achieved a net income of $11.4 million, a significant turnaround from the previous year’s net loss of $21.1 million. Adjusted EBITDA saw a substantial increase of 157% to $58.4 million, reflecting improved operational efficiency.
Looking ahead, Remitly has raised its full-year 2025 revenue outlook to a range of $1.574 billion to $1.587 billion, representing a growth rate of 25% to 26%. The company also expects positive GAAP net income for the year and has increased its Adjusted EBITDA forecast to between $195 million and $210 million.
Remitly’s management remains optimistic about the company’s growth prospects, driven by its expanding customer base and the ongoing development of its product offerings. The company is well-positioned to capitalize on the increasing demand for digital financial services in the global market.