Remitly Propels Revenue Outlook with Strong Q1 Growth

Published 11 hours agoRELY

Remitly Propels Revenue Outlook with Strong Q1 Growth

Remitly Global, Inc. has adjusted its revenue forecast for 2025 upwards, projecting figures between $1.574 billion and $1.587 billion. This update follows a robust first-quarter performance where revenue is estimated to range from $345 million to $348 million, marking a 28% to 29% increase compared to the previous year. Despite this growth, the company anticipates a GAAP net loss for the quarter, counterbalanced by an expected adjusted EBITDA of $36 million to $40 million.

The company has shown significant improvements in its Q4 2024 results, as well. Active customer numbers surged to 7.8 million, a 32% year-over-year increase, and send volume rose to $15.4 billion, up 39%. Revenue for the quarter reached $351.9 million, reflecting a 33% jump from the previous year, while the net loss narrowed considerably to $5.7 million from the previous $35.0 million. Notably, adjusted EBITDA saw an impressive increase of 434%, totaling $43.7 million. Nasdaq details these gains, highlighting the company's solid trajectory of growth and profitability.

With such promising financial indicators, Remitly is strategically positioned to achieve its ambitious targets for 2025. The company expects full-year revenue growth of 24% to 25% and anticipates shifting from a net loss to a GAAP net income with an adjusted EBITDA in the range of $180 million to $200 million. This outlook aligns with their strategic focus on expanding customer base and increasing transaction volumes.

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