Remitly Global Inc (RELY)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Buying today is not a bet that the turnaround arrives — it already has — but that it reaches the shareholder: that the buyback quarter ($44.2 million against $27.5 million of stock compensation) becomes the rule rather than the exception, and that the falling margin per dollar sent keeps being absorbed by volume growth. Anyone waiting should check exactly three lines in every report: the share count on the cover page (210,561,079 as of May 4, 2026), the repurchase figure against stock-based compensation, and revenue divided by send volume (2.05 percent most recently). If all three keep moving the right way, a good growth story becomes a good equity story. The decision is yours.
symbol.quality_note
Remitly moves money from immigrants to their families back home — $74.9 billion in 2025 alone. After two years of losses, 2025 finally showed a profit: $67.9 million. First-quarter 2026 revenue rose 25.2 percent, and the bank debt was gone by March 31, 2026. Yet the same filings with the U.S. securities regulator, the SEC, contain two numbers that sit awkwardly beside the turnaround story: $155.1 million of stock-based compensation in that same year 2025 — and revenue per dollar sent that has fallen every year since 2023. We read the primary filings and count who keeps how much.
Read the analysis
Stock Watch
This analysis is as of July 25, 2026. Stock Watch will tell you what's changed at RELY since then.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Appears in These Scanners
This stock currently matches 2 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 22.80 $ — 82% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
Uses AIRemitly setzt KI operativ ein — im Marketing-Motor, in der Betrugsabwehr und im Kundenservice —, verkauft aber keine KI-Produkte; Umsatzquelle bleibt der grenzüberschreitende Geldtransfer.
View the full file — quotes, sources, reviewed filings
„we are transforming our marketing engine from a single-product acquisition model into an artificial intelligence-powered system that drives multi-product engagement, and strengthens our ability to reactivate, retain, and increase share of wallet among existing customers"
Wir bauen unseren Marketing-Motor von einem Ein-Produkt-Akquisemodell zu einem KI-gestützten System um, das die Nutzung mehrerer Produkte antreibt und unsere Fähigkeit stärkt, bestehende Kunden zu reaktivieren, zu halten und ihren Anteil am Geldbeutel zu erhöhen.
„These capabilities are enhanced by AI to improve detection accuracy and automation."
Diese Fähigkeiten werden durch KI verstärkt, um die Treffgenauigkeit der Erkennung und die Automatisierung zu verbessern.
„We are also embedding data analytics and AI across our platform to improve automation, enhance scalability, and drive long-term operating efficiency."
Wir verankern Datenanalyse und KI außerdem quer über unsere Plattform, um die Automatisierung zu verbessern, die Skalierbarkeit zu erhöhen und die langfristige betriebliche Effizienz zu steigern.
„an AI-powered virtual assistant that reflects our broader use of AI to deliver faster, consistent, and conversational support while maintaining access to associates when needed"
ein KI-gestützter virtueller Assistent, der unseren breiteren KI-Einsatz widerspiegelt, um schnellere, gleichbleibende und dialogfähige Unterstützung zu liefern, während der Zugang zu Mitarbeitern bei Bedarf erhalten bleibt
Filings Reviewed: 10-K 2026-02-18 · 10-Q 2026-05-06 · 10-Q 2025-11-05 · 10-Q 2025-08-06 · 10-Q 2025-05-07 · 10-K 2025-02-19
Rated on July 25, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 28.6% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 12
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 1.38 | 1.31 – 1.45 | 1,973 | 31.3% | 4 |
| 12/31/2027 | 1.65 | 1.50 – 1.76 | 2,350 | 19.6% | 4 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- 0.09 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q2 | 0.10 | 0.00 | 306 | 30.90 | -3.90 | 49 | 48 |
| 2024: Q3 | 0.01 | -66.70 | 337 | 39.30 | 0.60 | 147 | 143 |
| 2024: Q4 | -0.03 | 84.20 | 352 | 32.90 | -1.60 | 56 | 50 |
| 2025: Q1 | 0.05 | -37.50 | 362 | 34.40 | 3.10 | 133 | 116 |
| 2025: Q2 | 0.19 | 90.00 | 412 | 34.40 | 1.60 | 41 | 29 |
| 2025: Q3 | 0.04 | 300.00 | 420 | 24.70 | 2.10 | 1 | 1 |
| 2025: Q4 | 0.19 | 733.30 | 442 | 25.70 | 9.30 | 150 | 147 |
| 2026: Q1 | 0.23 | 360.00 | 453 | 25.20 | 10.80 | 82 | 73 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2015 | 1,146 | 17 | -32 | -1.09 | 93 | 142 | 701 |
| 2016 | 1,250 | -69 | -103 | -3.57 | 9 | 33 | 646 |
| 2017 | 1,346 | -129 | -121 | -4.17 | -13 | -81 | 592 |
| 2019 | 127 | -51 | -51 | -2.41 | 8 | 116 | 266 |
| 2020 | 257 | -29 | -33 | -0.21 | -114 | 176 | 363 |
| 2021 | 459 | -40 | -39 | -0.64 | -18 | 480 | 626 |
| 2022 | 654 | -121 | -114 | -0.68 | -109 | 480 | 696 |
| 2023 | 944 | -114 | -118 | -0.65 | -54 | 529 | 1,036 |
| 2024 | 1,264 | -39 | -37 | -0.19 | 194 | 665 | 1,013 |
| 2025 | 1,635 | 82 | 68 | 0.31 | 325 | 869 | 1,459 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
Revenue grew from $944.3 million (2023) through $1,264.0 million (2024) to $1,635.1 million (2025), and the bottom line swung from −$117.8 million through −$37.0 million to +$67.9 million. In the first quarter of 2026 revenue rose 25.2 percent to $452.8 million and net income to $49.1 million from $11.4 million. Operating cash flow reached $325.1 million in 2025, up from $111.6 million. This is not a cosmetic turnaround but one visible in operating income.
Stock-based compensation came to $155.1 million in 2025, 2.3 times net income; shares outstanding grew from 188,435,952 (December 31, 2023) to 210,625,519 (December 31, 2025), up 11.8 percent. Only in the first quarter of 2026 did the ratio flip: $44.2 million of repurchases against $27.5 million of compensation, with the share count falling for the first time to 210,332,998. One quarter is not yet a trend.
Revenue per dollar sent has fallen for years: 2.39 percent (2023), 2.31 percent (2024), 2.18 percent (2025) and only 2.05 percent in the first quarter of 2026, against 2.24 percent a year earlier. Volume grew 37 percent, well ahead of revenue at 25 to 29 percent. As long as volume absorbs the difference the business keeps growing — but the model cannot tolerate a slowdown.
No drawn bank debt as of March 31, 2026, after $155.0 million was outstanding at December 31, 2025 at a weighted average rate of 7.25 percent. Cash of $649.1 million, equity of $907.4 million on total assets of $1,385.8 million, and a $550.0 million credit line to June 2030 with the covenant met. The Altman Z-score is 6.44, comfortably in safe territory (as of July 25, 2026).
The business depends on three main corridors (India, Mexico, the Philippines) and therefore on migration. The Form 10-Q for the quarter ended March 31, 2026 names costlier H-1B visas, increased deportations and the remittance tax of the One Big Beautiful Bill Act of July 4, 2025; it targets non-digital remittances and thus, for now, the storefront competition, while the annual report expressly names an expansion as conceivable. Add fraud losses of $84.2 million in 2025, more than the annual profit.
At the closing price of $22.53 (July 24, 2026) market capitalization is roughly $4.74 billion, a price-to-sales ratio of about 2.7 and a price-to-earnings ratio of about 47 on reported earnings. Annualizing the first quarter of 2026 brings that to about 24 — although the first quarter is seasonally the weakest per the filings. Twelve analyst firms give an average target of $29.33, and 7.6 percent of the float is sold short.
Remitly is the break-even trap in pure form. The turnaround is real and documented in every line that matters — revenue up 73 percent in three years, the bottom line from −$117.8 million to +$67.9 million, operating cash flow at $325.1 million, no bank debt as of March 31, 2026 and $649.1 million of cash. What it does not answer is the real question: in 2025, $155.1 million went to employees as compensation in the company's own stock, 2.3 times the profit, and the share count grew 11.8 percent in two years. Beneath that runs a second, quieter movement: the company keeps less of every dollar it moves each year — 2.39 percent in 2023, only 2.05 percent in the first quarter of 2026. The first quarter of 2026 showed both can be reversed. It has not been proven. Not investment advice.
- Remitly reached our research list through our in-house stock scanner "Turnaround-Kandidaten": rank 12 of 62 U.S. hits, turnaround check 7 of 8, as of July 25, 2026. The lists are recomputed daily, so the rank is a dated snapshot.
- Currency of the data: the most recent periodic report is the Form 10-Q for the quarter ended March 31, 2026 (filed May 6, 2026). Filings submitted after it were reviewed: the resignation of the chief product and technology officer effective June 19, 2026 (Form 8-K of June 8, 2026), the annual meeting of June 10, 2026 (Form 8-K of June 11, 2026), and numerous insider reports (Form 4) and sale notices (Form 144). No Form 8-K Item 1.01, no DEFM14A or PREM14A, no Schedule 13E-3, no Form 25 or Form 15 — there is no merger or take-private process under way.
- Valuation figures are dated and evergreen: closing price $22.53 on July 24, 2026, market capitalization roughly $4.74 billion, market data as of July 25, 2026. Daily prices are not a buy argument. Not to be confused: Remitly Global, Inc. is affiliated with neither the British competitor Wise plc nor Western Union; the ticker RELY has belonged to this company continuously since the 2021 IPO.
About the Company
Remitly Global, Inc., a cross-border payment company engages in the provision of digital financial services in the United States, Canada, and internationally. It offers cross-border remittances and complementary financial services through mobile application and website. Remitly Global, Inc. was incorporated in 2011 and is headquartered in Seattle, Washington.
| Employees | 3,200 |
|---|---|
| Headquarters | Seattle, WA |
| Address | 401 Union Street, 98101 Seattle, United States |
| Phone | 888 736 4859 |
| Website | remitly.com |
| IPO Date | 23. Sep 2021 |
| ISIN | US75960P1049 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Matthew B. Oppenheimer | Co-Founder& Chairman of the Board | 1984 |
| Joshua Hug | Co-Founder & Director | 1980 |
| Vikas Mehta | Chief Financial Officer | 1979 |
| Pankaj Sharma | Chief Business Officer | 1986 |
| Sebastian J. Gunningham | CEO & Director | 1963 |
| Tai-Hong Fung | Chief Accounting Officer | 1974 |
| David Beckel | Head of Investor Relations & Strategic Finance | – |
| Ronit Peled | Chief People Officer | – |
| Cameron Cohen | Executive VP, General Counsel & Secretary | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 17. Jul 2026 | Hug Joshua | Director | Sell | 5,500 | 24.11 | 132,605 |
| 16. Jul 2026 | Sharma Pankaj | Chief Business Officer | Sell | 15,000 | 25.03 | 375,450 |
| 16. Jul 2026 | Hug Joshua | Director | Sell | 5,500 | 25.39 | 139,645 |
| 16. Jul 2026 | Hug Joshua | Director | Sell | 362,000 | 25.18 | 9,115,160 |
| 15. Jul 2026 | Hug Joshua | Director | Sell | 314,768 | 24.93 | 7,847,166 |
| 17. Apr 2026 | Pankaj Sharma | Insider | Sell | 10,000 | 20.00 | 200,000 |
| 17. Apr 2026 | Phillip John Riese | Director | Sell | 40,000 | 20.04 | 801,600 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.