RELYNasdaqServices-Business Services, NECUS GAAP · USD

Remitly Global, Inc.

Remitly Global, Inc. is a U.S.-based digital financial services company focused on cross-border money movement. Its platform enables consumers and businesses to send funds across international corridors through mobile and online channels, supported by a network of funding and disbursement partners in more than 175 countries.

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Revenue1,635m USD
+29.4 %y/y
Operating profit (EBIT)77.5m USD
+298.2 %y/y
EBIT margin4.7%
+7.8 ppy/y
Net income67.9m USD
+283.7 %y/y
Free cash flow296m USD
+56.9 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-50005001,0001,5002,000m USD2020: 257 m USD2020: EBIT -29 m USD20202021: 459 m USD2021: EBIT -40 m USD20212022: 654 m USD2022: EBIT -121 m USD20222023: 944 m USD2023: EBIT -114 m USD20232024: 1,264 m USD2024: EBIT -39 m USD20242025: 1,635 m USD2025: EBIT 77 m USD20251,63577
RevenueOperating profit (EBIT)

Business

Share of revenue
Consumer remittances80 %

Digital money transfers used by individuals to send funds across borders.

Business cross-border payments10 %

Payments used by small and mid-sized businesses to pay people and counterparties abroad.

High-amount sender services5 %

Transfer services tailored to customers sending larger-value transactions.

Receiver and payout services5 %

Disbursement options that let recipients receive funds into bank, wallet, or cash channels.

Customers

Remitly serves consumers who send money across borders, especially people making recurring transfers to family and friends. It also serves high-amount senders and small- to mid-sized businesses that need to pay contractors, vendors, or employees internationally. The platform is designed for customers who value speed, reliability, pricing transparency, and broad payout options.

Consumer remittance senders

Individuals sending recurring cross-border payments to family and friends.

High-amount senders

Customers sending larger-value transfers that expand average transaction size.

Small- to mid-sized businesses

Businesses using the platform to pay contractors, vendors, and employees abroad.

Recipients

People receiving funds through bank deposit, mobile wallet, or cash pickup.

Strategy

Remitly’s strategy centers on trust, network depth, and scale to win repeat usage in cross-border payments. It is expanding beyond core remittances by adding new customer categories, new corridors, and additional financial services while improving reliability, fraud controls, and customer experience.

Expand corridor and partner networkMedium term

More send and receive options increase utility, reach, and repeat usage.

Broaden product and customer mixMedium term

Serving businesses and high-amount senders diversifies use cases beyond core remittances.

Strengthen trust and customer experienceShort term

Reliability and simplicity drive retention in a highly competitive market.

Geography

Q1/2026

Remitly operates across a global network spanning more than 175 countries and over 5,300 send-receive corridors. The business depends on corridor coverage, local payout options, and regulatory licensing in each market rather than on a single home geography. Its operating model is inherently international, with foreign exchange exposure and local compliance requirements varying by corridor.

United States66 %
Other countries (US filing)25 %
Canada9.5 %

Share of the revenue the company reports by geography.

Risks

Remitly faces intense competition in digital remittances and broader cross-border payments, where pricing, trust, and payout coverage are key differentiators. Its model also depends on third-party processors, disbursement partners, cloud services, and regulatory approvals, creating operational and compliance exposure across many jurisdictions. Foreign exchange volatility, cybersecurity incidents, and changes in payment or disbursement fees can also affect performance.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Intense competition in cross-border payments1Third-party dependency2Cybersecurity and outages3Regulatory and licensing constraints4Foreign exchange volatility5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Intense competition in cross-border paymentsImpact: HighLikelihood: Medium

    Customers can switch based on price, speed, trust, and payout options.

    Exposure: Core remittance and adjacent payment products

  2. Third-party dependencyImpact: HighLikelihood: Medium

    Payment processing, disbursement, customer support, and cloud services are partly outsourced.

    Exposure: Transaction execution and service continuity

  3. Cybersecurity and outagesImpact: HighLikelihood: Medium

    A digital money-movement platform depends on secure, always-on operations.

    ExposurePlatform trustCustomer retentionRegulatory scrutiny
  4. Regulatory and licensing constraintsImpact: HighLikelihood: Medium

    Cross-border payments require compliance with local rules and capital/liquidity requirements.

    Exposure: International expansion and fund repatriation

  5. Foreign exchange volatilityImpact: MediumLikelihood: Medium

    Revenue and costs are exposed to many currencies across global corridors.

    ExposureFX spreadsSettlement economicsOperating results

Accounting

Judgemental items
Revenue recognition timing

Revenue is booked when the transfer is completed, so timing of delivery affects quarterly results.

Impact: Quarter-to-quarter comparability

Customer funds and settlement liabilities

Working-capital balances tied to customer transfers can materially affect operating cash flow.

Impact: Cash flow and liquidity presentation

Goodwill impairment

The company performs annual goodwill testing and uses estimates of fair value.

Impact: Potential non-cash impairment charges

Foreign exchange measurement

Multi-currency operations require judgment in translating and managing FX exposure.

Impact: Reported revenue, expenses, and balance sheet values

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Last updated: 24/09/2026