Remitly Global, Inc. RELY
Remitly, founded in 2011, is a trusted provider of financial services that transcend borders. With a footprint spanning more than 175 countries, we have built one of the world's leading global money movement platforms, trusted by millions of customers who rely on us every day.
The long-term, trusted relationships we foster with our customers have enabled us to scale to more than 5,300 corridors and more than 9.3 million quarterly active users worldwide. Leveraging our strengths in global money movement, we continue to evolve beyond a remittance company into a diversified, cross-border financial services provider, serving both consumers and businesses across a growing set of use cases. To further our vision, we have expanded by serving new customer categories, including high-amount senders, businesses, and receivers, and by introducing new products. These offerings build on our foundation and extend our ability to support the financial lives of our customers.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.64B | $1.26B | $944.3M | $653.6M | $458.6M | $257.0M | $126.6M | — |
| R&D | $313.9M | $269.8M | $219.9M | $138.7M | $64.1M | $40.8M | $32.0M | — |
| SG&A | $225.1M | $195.9M | $179.4M | $131.2M | $70.9M | $31.7M | $25.7M | — |
| Total operating expenses | $1.56B | $1.30B | $1.06B | $774.6M | $498.3M | $286.1M | $177.2M | — |
| Operating income | $77.5M | -$39.1M | -$114.2M | -$121.0M | -$39.7M | -$29.2M | -$50.6M | — |
| Interest expense | $7.6M | $3.2M | $2.4M | $1.3M | $1.3M | $1.2M | $1.6M | — |
| Pre-tax income | $71.6M | -$30.3M | -$111.9M | -$113.0M | -$37.7M | -$31.4M | -$51.1M | — |
| Income tax | $3.7M | $6.7M | $5.9M | $1.0M | $1.0M | $1.2M | $259.0K | — |
| Net income | $67.9M | -$37.0M | -$117.8M | -$114.0M | -$38.8M | -$32.6M | -$51.4M | — |
| EPS, basic | 0.33 | -0.19 | -0.65 | -0.68 | -0.64 | -1.52 | -2.98 | — |
| EPS, diluted | 0.31 | -0.19 | -0.65 | -0.68 | -0.64 | -1.52 | -2.98 | — |
| Shares, diluted (wtd. avg.) | $217.6M | $194.6M | $180.8M | $167.8M | $60.7M | $21.5M | $21.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $542.4M | $368.1M | $323.7M | $300.7M | $403.3M | $188.1M | $183.5M | $64.9M |
| Total current assets | $1.32B | $897.5M | $932.1M | $669.4M | $607.6M | $345.3M | — | — |
| Property, plant and equipment | $61.5M | $31.6M | $16.0M | $11.5M | $9.2M | $9.7M | — | — |
| Goodwill | $54.9M | $54.9M | $54.9M | $0 | — | — | — | — |
| Other intangibles | $2.1M | $10.5M | $16.6M | $0 | — | — | — | — |
| Total assets | $1.46B | $1.01B | $1.04B | $696.0M | $625.7M | $363.0M | — | — |
| Accounts payable | $28.4M | $16.2M | $35.1M | $6.8M | $1.2M | $4.3M | — | — |
| Short-term debt | $2.8M | $2.5M | $2.5M | $0 | — | — | — | — |
| Total current liabilities | $399.1M | $329.0M | $366.8M | $209.1M | $141.6M | $181.8M | — | — |
| Long-term debt | $155.0M | $0 | $130.0M | $0 | — | — | — | — |
| Total liabilities | $589.9M | $347.4M | $507.0M | $215.9M | $145.3M | $186.6M | — | — |
| Retained earnings | -$460.3M | -$528.3M | -$491.3M | -$373.5M | -$259.4M | -$220.7M | — | — |
| Total equity | $868.8M | $665.5M | $529.3M | $480.1M | $480.3M | -$211.3M | -$186.8M | -$121.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $325.1M | $111.6M | $66.8M | -$108.7M | -$18.4M | -$114.2M | $8.4M | — |
| Depreciation and amortisation | $25.0M | $18.1M | $13.1M | $6.7M | $5.3M | $4.1M | $2.7M | — |
| Stock-based compensation | $155.1M | $152.1M | $137.0M | $95.3M | $17.0M | $5.3M | $3.6M | — |
| Capital expenditure | $29.4M | $6.0M | $2.9M | $3.7M | $2.0M | $2.1M | $5.0M | — |
| Investing cash flow | -$69.9M | -$19.9M | -$50.0M | -$7.3M | -$4.5M | -$4.4M | -$7.2M | — |
| Financing cash flow | -$89.8M | -$42.4M | $6.3M | $14.6M | $238.2M | $122.2M | $117.0M | — |
| Buybacks | $23.9M | $0 | $0 | — | $0 | $0 | $7.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001782170-26-000048.
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