Remitly Global (RELY) AI Stock Analysis

• Market Cap: $3.21B
• Dividend Yield: N/A
• Average Volume (3M): 4.51M
• Price to Earnings (P/E): 41.8
• Beta (1Y): 1.10
• Revenue Growth: 31.27%
• EPS Growth: N/A
• Country: US
• Employees: 2,800
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.38
• Shares Outstanding: 210,654,390
• 10 Day Avg. Volume: 3,653,435
• 30 Day Avg. Volume: 4,513,895
• PEG Ratio: -0.15
• Price to Book (P/B): 3.27
• Price to Sales (P/S): 1.74
• P/FCF Ratio: 9.61
• Enterprise Value/Market Cap: 0.90
• Enterprise Value/Revenue: 1.77
• Enterprise Value/Gross Profit: 2.98
• Enterprise Value/Ebitda: 26.61
• 1Y Price Target: $20.67
• Price Target Upside: 35.54% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): 1
• Revenue Forecast (FY): $1.95B

• Rating: 65 Neutral
• Price Target: $16.50 ▲(8.20% Upside)
• Action: Reiterated Date: 02/19/26
• Date: Action: Reiterated 02/19/26

The score is driven primarily by improving fundamentals and strong 2025 cash generation, reinforced by confident 2026 profitability guidance. Offsetting factors are a weaker technical trend and a very high P/E with no dividend support, which increases sensitivity to the guided growth deceleration and margin normalization risks.

Positive Factors

Free cash flow strength

Sustained FCF near $300M gives Remitly durable financial flexibility to fund product investments, buybacks, and geographic expansion without relying heavily on external capital. Strong cash conversion also supports margin resilience and cushions execution risks over the next 2–6 months.

Revenue scale and margin expansion

Rapid scale to multi‑billion revenue with meaningful EBITDA and GAAP profit demonstrates durable operating leverage. Higher RLTE and improved margins indicate the platform can convert volume into sustainable profits as it grows, reducing sensitivity to modest demand swings.

Experienced CEO succession

A seasoned executive with large‑scale platform experience strengthens Remitly's ability to execute international expansion, partnerships, and product scaling. The orderly transition plus retention incentives aims to preserve continuity while accelerating strategic initiatives over the medium term.

Negative Factors

Concentration in high‑value senders

Growing reliance on high‑amount senders concentrates revenue and increases exposure to behavior shifts, regulatory scrutiny, tax changes, or macro shocks affecting wealthier senders. This concentration reduces diversification and could amplify revenue volatility over coming quarters.

Transaction loss volatility

Provision swings materially affect RLTE and margins; Q4 benefits were unusually low. If loss rates normalize to the 9–13 bps baseline, margins and profitability could be pressured, making recent margin gains less durable absent structural declines in fraud or disputes.

Rising debt and leverage uptick

Although leverage remains moderate, the recent sharp increase in debt heightens financial risk if growth or margins falter. Elevated debt could constrain capital allocation flexibility for product rollouts or repurchases and raises refinancing and covenant sensitivity during adverse cycles.

Remitly Global Business Overview & Revenue Model

Company Description

Remitly Global, Inc. provides digital financial services for immigrants and their families. It primarily offers cross-border remittance services in approximately 150 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.

How the Company Makes Money

Remitly primarily makes money from fees and foreign-exchange (FX) revenue generated on remittance transactions processed through its platform. (1) Transaction fees: For many transfers, Remitly charges the sender an upfront service fee that can vary based on factors such as transfer amount, destination corridor, funding method (e.g., bank account vs. debit/credit card), and chosen speed (e.g., economy vs. express). (2) FX spread: When a transfer involves converting currencies, Remitly can earn revenue from the difference between the exchange rate it offers customers and the rate at which it sources or hedges currency conversion (the FX spread), where applicable. (3) Other revenue/adjacent services: Remitly may also generate revenue from additional financial products and services offered through its app (e.g., features beyond core remittances), but specific product-level revenue contributions are not always separately disclosed publicly; null. To deliver funds in destination countries, Remitly relies on a network of payout partners and payment rails (such as banks, mobile money operators, and cash pickup networks) and pays them per-transaction or via commercial arrangements; Remitly’s gross profit is the net of what it collects from customers (fees and FX revenue) minus transaction processing, payment partner, compliance, and other direct service costs. Key factors influencing earnings include transaction volume (active customers and send frequency), take rate (fees + FX per transfer), mix of funding methods (cards often cost more to process than bank transfers), geographic corridor mix, and efficiency gains from scale in payment processing, customer support, and compliance operations.

Remitly Global Financial Statement Overview

Summary

Strong fundamental inflection in 2025 with revenue scaling to ~$1.64B, turning GAAP profitable (~$68M), and standout cash generation (operating cash flow ~$325M; free cash flow ~$296M). Balance sheet leverage remains manageable (debt-to-equity ~0.22), but the sharp rise in debt and limited 2025 margin detail (gross profit fields reported as 0) reduce confidence in margin durability.

Income Statement

Revenue has scaled materially from $257M (2020) to $1.64B (2025), showing a strong multi-year growth trajectory, though the latest growth rate appears to be moderating. Profitability has improved meaningfully: the company moved from sizable net losses in 2020–2024 to positive net income of ~$68M in 2025 with a ~4.2% net margin and positive EBITDA. The key weakness is volatility and limited visibility into core cost structure in 2025 (gross profit and several margin fields are reported as 0), which reduces confidence in assessing sustainable margin quality.

Balance Sheet

The balance sheet looks generally solid with equity of ~$869M against total debt of ~$192M in 2025 (debt-to-equity ~0.22), implying manageable leverage. Total assets increased to ~$1.46B, and return on equity turned positive (~7.8%) in 2025 after several years of negative returns, consistent with the shift to profitability. A notable watch-out is the sharp rise in debt from 2024 to 2025, which increases financial risk if profitability proves cyclical or investment needs step up.

Cash Flow

Cash generation is a standout: operating cash flow rose to ~$325M and free cash flow to ~$296M in 2025, with strong free cash flow growth versus 2024. Cash flow quality also looks healthy, with free cash flow running at roughly 0.9x net income in both 2024 and 2025, suggesting earnings are translating into cash. The main weakness is historical volatility—cash flow was negative in 2020–2023—so while the recent profile is strong, it has a shorter track record of consistency.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.64B	1.26B	944.28M	653.56M	458.61M
Gross Profit	934.37M	748.44M	532.65M	326.63M	221.47M
EBITDA	104.27M	-8.96M	-96.47M	-104.95M	-31.20M
Net Income	67.93M	-36.98M	-117.84M	-114.02M	-38.76M
Balance Sheet
Total Assets	1.46B	1.01B	1.04B	695.95M	625.66M
Cash, Cash Equivalents and Short-Term Investments	828.88M	368.10M	323.71M	300.63M	403.26M
Total Debt	220.26M	16.29M	142.99M	9.20M	6.15M
Total Liabilities	589.92M	347.40M	506.97M	215.87M	145.34M
Stockholders Equity	868.79M	665.47M	529.34M	480.09M	480.33M
Cash Flow
Free Cash Flow	295.65M	176.78M	-62.69M	-112.33M	-22.93M
Operating Cash Flow	325.08M	194.49M	-53.59M	-108.66M	-18.39M
Investing Cash Flow	-69.93M	-17.70M	-50.04M	-7.31M	-4.53M
Financing Cash Flow	-89.78M	-127.44M	126.65M	14.59M	238.20M

Remitly Global Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 15.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RELY, the sentiment is Neutral. The current price of 15.25 is below the 20-day moving average (MA) of 16.33, above the 50-day MA of 14.60, and below the 200-day MA of 16.27, indicating a neutral trend. The MACD of 0.43 indicates Positive momentum. The RSI at 45.53 is Neutral, neither overbought nor oversold. The STOCH value of 7.36 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for RELY.

Remitly Global Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DLO	73 Outperform	$3.35B	21.00	34.42%	―	22.02%	12.42%
PAYO	71 Outperform	$1.57B	27.73	9.84%	―	10.58%	-45.52%
AVPT	66 Neutral	$2.27B	82.10	7.96%	―	24.71%	99.52%
RELY	65 Neutral	$3.21B	41.81	8.61%	―	31.27%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
PAGS	60 Neutral	$2.79B	7.50	14.40%	1.40%	0.58%	5.76%
STNE	50 Neutral	$3.79B	9.51	19.67%	―	-25.51%	-139.31%

Remitly Global Corporate Events

Remitly Global appoints new CEO amid leadership transition

On February 18, 2026, Remitly Global, Inc. announced that Sebastian J. Gunningham will become chief executive officer and join the board on February 19, 2026, succeeding co-founder Matt Oppenheimer after nearly 15 years at the helm. Oppenheimer will step down as an employee but remain chairman, with the board expanding to ten members, and the company stressed the change was part of an orderly succession rather than any accounting or financial reporting dispute.

Gunningham, a veteran of Amazon, Santander, WeWork, Material Bank, Oracle, and Apple, receives a compensation package centered on $350,000 in base salary, a substantial, performance-linked equity grant tied to ambitious share-price milestones implying potential market capitalization growth to about $10.5 billion, and a $4 million cash payment subject to clawback. In a parallel move to reinforce its leadership bench and retention efforts, Remitly granted Chief Business Officer Pankaj Sharma a $2 million long-term cash incentive payable in 2026 and 2027 with similar clawback terms, as the company reported that Q4 and full-year 2025 results exceeded the high end of revenue and adjusted EBITDA guidance.

The most recent analyst rating on (RELY) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Remitly Global stock, see the RELY Stock Forecast page.

Remitly Delivers First Profitable Year and Leadership Transition

On February 18, 2026, Remitly reported fourth-quarter and full-year 2025 results that exceeded its prior outlook, marking its first full year of GAAP profitability and underscoring momentum in its cross-border financial services platform. For the fourth quarter, active customers rose 19% to 9.3 million, send volume climbed 35% to $20.8 billion, revenue increased 26% to $442.2 million, and the company swung to net income of $41.2 million with Adjusted EBITDA nearly doubling to $88.6 million.

For full-year 2025, send volume jumped 37% to $74.9 billion, revenue grew 29% to $1.6 billion, and Remitly generated net income of $67.9 million alongside a 93% surge in Adjusted EBITDA to $272.2 million and significantly stronger operating and free cash flow. Alongside these results, co-founder Matt Oppenheimer announced he would transition from CEO to chairman as former Amazon executive Sebastian Gunningham takes over as chief executive, a leadership change that aims to accelerate execution and solidify Remitly’s push to become a “generational” cross-border financial platform.

The most recent analyst rating on (RELY) stock is a Buy with a $18.00 price target. To see the full list of analyst forecasts on Remitly Global stock, see the RELY Stock Forecast page.