Remitly Global, Inc.
- Open
- 24.95
- Day high
- 24.95
- Day low
- 23.74
- Prev close
- 25.23
- Volume
- 3.3M
- Mkt cap
- $5.1B
- P/E (TTM)
- 47.8
- EPS (TTM)
- $0.50
- P/B
- 5.6
- P/S
- 2.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$7.6M over the last 3 months (0 open-market buys, 23 sales)
- 🏛Institutions accumulating (13F)
Remitly Global, Inc. (RELY) is a Technology company listed on NASDAQ. The stock is up 42% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 23 sales (SEC Form 4).
Remitly Global, Inc. (RELY) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RELY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.12 | $0.23 | +91.7% | $453M | +3.2% |
| Feb 18, 2026 | $0.02 | $0.19 | +856.0% | $442M | +2.8% |
| Nov 5, 2025 | $0.18 | $0.04 | -77.4% | $419M | +1.4% |
| May 7, 2025 | $-0.04 | $0.05 | +225.0% | $362M | +4.1% |
| Feb 19, 2025 | $-0.07 | $-0.03 | +57.1% | $352M | +2.4% |
| Jul 31, 2024 | $-0.10 | $-0.06 | +40.0% | $306M | -4.4% |
| May 1, 2024 | $-0.14 | $-0.11 | +21.4% | $269M | -1.8% |
| Feb 21, 2024 | $-0.17 | $-0.19 | -11.8% | $265M | +1.3% |
| Nov 1, 2023 | $-0.17 | $-0.20 | -17.6% | $242M | +1.0% |
| Aug 2, 2023 | $-0.17 | $-0.11 | +35.3% | $234M | +8.4% |
| May 3, 2023 | $-0.18 | $-0.16 | +11.1% | $204M | -5.5% |
| Feb 22, 2023 | $-0.21 | $-0.11 | +47.6% | $191M | -1.9% |
RELY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 30, 2026 | Hug Joshuadirector | Sell | 16,800 | $22.97 |
| Jun 17, 2026 | Hug Joshuadirector | Sell | 6,500 | $20.10 |
| Jun 17, 2026 | Hug Joshuadirector | Sell | 2,000 | $20.09 |
| Jun 17, 2026 | Hug Joshuadirector | Sell | 9,533 | $20.76 |
| Jun 11, 2026 | MORRIS NIGEL Wdirector | Grant | 30,556 | — |
| Jun 11, 2026 | Hug Joshuadirector | Grant | 2,546 | — |
| Jun 11, 2026 | CAMPBELL PHYLLIS Jdirector | Grant | 3,666 | — |
| Jun 11, 2026 | Smyth Margaret Marydirector | Grant | 3,055 | — |
| Jun 11, 2026 | Blignaut Rynodirector | Grant | 3,819 | — |
| Jun 11, 2026 | Chung Boradirector | Grant | 30,556 | — |
| Jun 11, 2026 | Le Moal Laurentdirector | Grant | 2,943 | — |
| Jun 11, 2026 | Messinger Adamdirector | Grant | 1,846 | — |
| Jun 11, 2026 | Le Moal Laurentdirector | Grant | 30,556 | — |
| Jun 11, 2026 | Chung Boradirector | Grant | 3,452 | — |
| Jun 11, 2026 | MORRIS NIGEL Wdirector | Grant | 2,800 | — |
Source: RELY SEC Form 4 filings, latest Jun 30, 2026. For informational purposes only — not investment advice.
See the full RELY insider & 13F page →Remitly Global, Inc. company profile
Overview
Remitly Global, Inc. (NASDAQ:RELY) is a digital financial services company founded in 2011 and headquartered in Seattle, Washington. The company went public in September 2021 and has established itself as a leading provider of cross-border remittance services, serving immigrants and their families worldwide. Since its founding, Remitly has grown from a startup focused on solving the pain points of traditional money transfer services to a global platform serving nearly 8 million quarterly active customers across over 170 countries, facilitating over $50 billion in annual send volume.
Business
Remitly operates in the cross-border remittance industry, which is part of the broader $2 trillion cross-border payments market. The company provides digital money transfer services that allow people to send money internationally, primarily targeting immigrants who need to send money to their families in their home countries. The remittance industry has traditionally been dominated by legacy providers like Western Union and MoneyGram, which rely heavily on physical locations and charge high fees. Remitly disrupts this model by offering a fully digital platform that is faster, cheaper, and more convenient. Customers can send money using Remitly's mobile app or website, and recipients can receive funds through various methods including bank deposits, mobile wallets, cash pickup locations, and home delivery. Remitly's core service is its digital remittance platform that connects over 5,100 sending and receiving corridors globally. The platform uses advanced technology including artificial intelligence and machine learning for fraud detection, risk management, and customer experience optimization. Key features include 99.99% platform uptime, with 93% of transactions dispersed in under an hour and 95% completed without requiring customer support contact. The company operates primarily as a single business segment focused on cross-border remittances, though it has been expanding into complementary services for specific customer segments such as seafarers and micro-businesses. Geographically, the business generates approximately 76% of revenue from the United States market, with the remaining 24% coming from international markets including Canada, the UK, Australia, and other regions.
Competitive moat
Remitly's competitive moat is moderately strong but not impregnable. The company has built several defensive characteristics that provide some protection against competition. The primary moat comes from network effects and trust. As Remitly expands its corridor coverage (currently over 5,100 corridors), it becomes more valuable to customers who may need to send money to different countries over time. The company's focus on compliance, security, and reliability has built strong customer trust, evidenced by high retention rates (90% of revenue retained after the first year) and significant word-of-mouth growth. Regulatory expertise and compliance infrastructure represent another defensive element. Operating cross-border money transfers requires navigating complex regulatory requirements across multiple jurisdictions. Remitly has invested heavily in sophisticated KYC (Know Your Customer), anti-money laundering systems, and fraud detection capabilities using advanced machine learning, creating barriers for new entrants. The company also benefits from scale advantages in negotiating with payment partners, banks, and financial institutions. Higher transaction volumes provide better economics and enable direct integrations that smaller competitors cannot achieve. However, the moat faces several challenges. Large technology companies like Apple, Google, or existing fintech players could enter the market with significant resources. Traditional players like Western Union are investing heavily in digital transformation. Local competitors in specific corridors may have advantages in understanding local regulations and customer preferences. Additionally, cryptocurrency and blockchain-based solutions could potentially disrupt the traditional remittance model, though regulatory uncertainty currently limits their adoption. The switching costs for customers are relatively low, as money transfer is typically a transaction-based rather than relationship-based service, which limits the strength of the moat.
Risks & safety
Remitly demonstrates a strong margin of safety from a financial stability perspective, though valuation metrics suggest limited margin of safety for investors at current prices. **Financial Strength:** - Strong balance sheet with $494 million in cash and short-term investments as of Q1 2025 - Current ratio of 2.78x indicates strong liquidity position - Very low debt-to-equity ratio of 0.029, minimal solvency risk - Positive free cash flow of $116 million in Q1 2025, demonstrating cash generation ability - Recently achieved GAAP profitability with $11.4 million net income in Q1 2025 **Valuation Concerns:** - High P/E ratio of 92.4x based on recent profitability - EV/EBITDA of 43.0x appears elevated for the growth rate - Price-to-book ratio of 5.8x suggests premium valuation - Graham number analysis indicates potential overvaluation relative to conservative metrics **Other Considerations:** - Business model resilience demonstrated across economic cycles - Strong revenue growth trajectory (34% year-over-year in Q1 2025) - Path to sustained profitability appears credible based on operational leverage - Market opportunity remains large with only ~3% market penetration
Recent development
Over the past few years, Remitly has executed several key strategic initiatives that have strengthened its competitive position and expanded its addressable market. The company has significantly diversified its geographic footprint, with revenue from regions outside its top three markets (India, Philippines, and Mexico) now representing over 50% of total revenue, growing 45% year-over-year. This diversification reduces dependence on any single corridor and provides more stable growth. Product innovation and customer segmentation have been major focus areas. Remitly launched specialized products for high-dollar senders and micro-businesses, recognizing that these segments have different needs and higher transaction values. The company also introduced services for seafarers, a niche but valuable market segment. These initiatives have contributed to increased send volume per active customer. Technology investments have been substantial, particularly in artificial intelligence and machine learning. The company deployed an AI-powered virtual assistant that has improved customer support efficiency, reducing support costs from 10% to 6.5% of revenue. Advanced machine learning models have enhanced fraud detection capabilities and enabled more sophisticated risk-based pricing and customer onboarding decisions. Strategic partnerships have expanded the company's reach, most notably the WhatsApp integration launched in Q1 2025, initially focused on Latin America. This partnership leverages WhatsApp's massive user base for customer acquisition and improved customer interaction. The company has also focused on operational efficiency and path to profitability. After years of losses, Remitly achieved its first quarter of GAAP profitability in Q3 2024 and has sustained profitability since then. This was accomplished through improved marketing efficiency, better transaction cost management through direct integrations, and operational leverage from scale. Corridor expansion has been continuous, growing from approximately 5,000 corridors to over 5,100, with particular focus on direct integrations in Latin America, Africa, and other emerging markets. This expansion reduces reliance on intermediaries and improves unit economics.
RELY company profile · for informational purposes only — not investment advice.
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