Digital remittance firm Remitly's Q3 revenue rises on send volume growth

Remitly Global

05/11/2025 21:31

Overview

Remitly Q3 revenue rises 25% yr/yr, beating analyst expectations

Adjusted EBITDA for Q3 beats estimates, reaching $61.2 mln

Company raises full-year revenue and Adjusted EBITDA outlook for 2025

Outlook

Remitly raises full-year revenue outlook to $1.619 bln-$1.621 bln

Company expects Q4 revenue between $426 mln and $428 mln

Remitly forecasts full-year Adjusted EBITDA of $234 mln-$236 mln

Result Drivers

SEND VOLUME GROWTH - Send volume increased by 35% to $19.5 bln, contributing to revenue growth

ACTIVE CUSTOMERS - Active customers rose 21% to 8.9 mln, supporting revenue increase

INNOVATION AND EXECUTION - CEO attributes results to innovation across product portfolio and efficient execution

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$419.49 mln
$413.63 mln (7 Analysts)
Q3 Net Income
$8.83 mln
Q3 Adjusted EBITDA
Beat
$61.20 mln
$54.81 mln (7 Analysts)
Q3 Operating Income
$11.78 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the business support services peer group is "buy"

Wall Street's median 12-month price target for Remitly Global Inc is $25.07, about 35.4% above its November 4 closing price of $16.18

The stock recently traded at 59 times the next 12-month earnings vs. a P/E of 93 three months ago

Press Release: ID:nGNX9F8t7Q

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)