Remitly Q2 revenue beats estimates on active customer growth

Remitly Global

05/08/2026 21:37

Overview
US cross-border financial services provider's Q2 revenue rose 20% yr/yr, beating analyst expectations
Adjusted EBITDA for Q2 surged 79% yr/yr, beating analyst estimates
Company surpassed 10 mln quarterly active customers for the first time

Outlook
Remitly sees Q3 2026 revenue between $505 mln and $507 mln
Company expects Q3 2026 Adjusted EBITDA of $92 mln to $94 mln
Remitly forecasts 2026 revenue between $1.978 bln and $1.988 bln

Result Drivers
CUSTOMER GROWTH - Active customers rose 20% yr/yr to 10.2 mln, helping drive revenue gains
SEND VOLUME - Send volume climbed 27% yr/yr to $23.5 bln, supporting higher transaction activity
AI OPERATING EFFICIENCIES - Co said AI-driven efficiencies improved margins and allowed greater investment in growth

Company press release: ID:nGNX4Sc1Gh

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$495.16 mln
$485.45 mln (10 Analysts)
Q2 Net Income
 
$205.91 mln
 
Q2 Adjusted EBITDA
Beat
$114.70 mln
$88.26 mln (10 Analysts)
Q2 Operating Income
 
$66.68 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "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 $28.00, about 13.7% above its August 4 closing price of $24.63
The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 38 three months ago

Reuters Recommended Reads
Aug 4 - Evertec beats Q2 profit estimates; raises outlook, buyback plan
Aug 3 - Paymentus Q2 revenue beats expectations on higher billers, transaction volume
Aug 4 - Marqeta Q2 revenue beats estimates on higher total processing volume

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)