NASDAQ$RELY
Remitly Global Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Achieved strong results driven by customer-centric investments and increasing scale.
Remitly reported a strong first quarter of 2023, with revenue up 50% year-over-year, driven by a 50% increase in active customers and a 40% increase in send volume. The company remains focused on delivering a superior and trusted experience for its customers.
- Active customers increased by 50% year-over-year, reaching 4.6 million.
- Send volume increased by 40% year-over-year, totaling $8.5 billion.
- Revenue increased by 50% year-over-year, reaching $203.9 million.
- Adjusted EBITDA was $5.4 million, compared to $(12.1) million.
Headline financials
Revenue & EPS history
Remit Global · Revenue · Quarterly
$204M
Forward guidance
For fiscal year 2023, Remitly expects total revenue in the range of $875 million to $895 million, representing a growth rate of 34% to 37% year-over-year. The company also expects Adjusted EBITDA to be in the range of $5 million and $15 million.
Tailwinds
- Total revenue in the range of $875 million to $895 million, representing a growth rate of 34% to 37% year-over-year.
- Revenue outlook reflects an increase from prior outlook of $860 million to $880 million.
- Adjusted EBITDA to be in the range of $5 million and $15 million.
- Adjusted EBITDA outlook reflects an increase from prior Adjusted EBITDA outlook of between breakeven and $10 million.
- To remain in a GAAP net loss position for 2023
Headwinds
- To remain in a GAAP net loss position for 2023
- Unpredictable fluctuations in the market price of our common stock.
- Variability, complexity, and limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA.
- These items include, but are not limited to, income taxes and stock-based compensation expense
- The variability of these items could have a significant impact on our future GAAP financial results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+2.1%
Avg return
Earnings day
-0.3%
Avg return
5 days after
-2.4%
Avg return
30 days after
52%
12 / 23 earnings
Positive
+25.7%
Q4 2025
Best reaction
-30.2%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2026 | -4.1% | +0.5% | -20.9% | |
| Q4 2025 | +25.7% | +19.0% | +12.8% | |
| Q3 2025 | -3.1% | -0.6% | -16.8% | |
| Q1 2025 | +14.5% | +14.8% | +2.1% | |
| Q4 2024 | -0.5% | -7.3% | -21.5% | |
| Q3 2024 | +20.6% | +27.0% | +37.9% | |
| Q2 2024 | +1.5% | -2.8% | +0.8% | |
| Q1 2024 | -13.6% | -13.6% | -27.1% | |
| Q4 2023 | +15.9% | +16.8% | +15.4% | |
| Q3 2023 | -30.2% | -26.7% | -22.3% | |
| Q2 2023 | +12.0% | +11.8% | +29.0% | |
| Q1 2023 | +8.0% | +7.4% | +13.3% | |
| Q4 2022 | +23.2% | +20.9% | +46.0% | |
| Q3 2022 | -12.5% | -18.5% | -10.2% | |
| Q2 2021 | +1.6% | +3.7% | +2.3% | |
| Q2 2022 | +14.8% | +9.3% | +3.7% | |
| Q1 2021 | +21.7% | +28.2% | +28.0% | |
| Q1 2022 | -29.1% | -37.5% | +5.4% | |
| Q4 2019 | +1.5% | +3.7% | +11.2% | |
| Q4 2021 | -1.3% | -20.0% | -25.7% | |
| Q3 2020 | -0.6% | -12.5% | -36.0% | |
| Q4 2020 | -0.6% | -12.5% | -36.0% | |
| Q3 2021 | -17.9% | -18.3% | -47.5% | |
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