Overview

* Remitly Q2 revenue up 34% yr/yr, beating analyst expectations, per LSEG data

* Adjusted EBITDA for Q2 beats consensus, rising 144% yr/yr, per LSEG data

* Co announces $200 mln share repurchase program

Outlook

* Remitly expects FY 2025 revenue between $1.61 bln and $1.62 bln

* Company projects FY 2025 Adjusted EBITDA of $225 mln to $230 mln

* Remitly forecasts Q3 2025 revenue between $411 mln and $413 mln

* Company anticipates positive GAAP net income for FY 2025

Result Drivers

* SEND VOLUME GROWTH - Send volume increased by 40% year-over-year to $18.5 bln, driving revenue growth

* CUSTOMER BASE EXPANSION - Active customers rose 24% to 8.5 mln, contributing to increased revenue

* PROFITABILITY TURNAROUND - Achieved net income of $6.5 mln, compared to a net loss in the previous year

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $411.85 $384.60

Revenue mln mln (7

Analysts

)

Q2 Net $6.54

Income mln

Q2 Beat $64 mln $46.50

Adjusted mln (6

EBITDA Analysts

)

Q2 $14.64

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "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 ( RELY ) is $27.07, about 39.7% above its August 5 closing price of $16.33

* The stock recently traded at 90 times the next 12-month earnings vs. a P/E of 174 three months ago

Press Release:

(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.)