NASDAQ$RELY
Remitly Global Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Remitly Global's Q1 2024 financial performance was reported.
Remitly Global reported a strong start to 2024, with a 32% increase in revenue year-over-year, reaching $269.1 million. Active customers grew by 36% to 6.2 million, and send volume increased by 34% to $11.5 billion. The company's profitability also improved, with an adjusted EBITDA of $19.3 million compared to $5.4 million in the same quarter last year. However, the company reported a net loss of $21.1 million.
- Active customers increased by 36% year-over-year, reaching 6.2 million.
- Send volume grew by 34% year-over-year, totaling $11.5 billion.
- Revenue increased by 32% year-over-year, amounting to $269.1 million.
- Adjusted EBITDA improved to $19.3 million, compared to $5.4 million in the previous year.
Headline financials
Revenue & EPS history
Remit Global · Revenue · Quarterly
$269M
Forward guidance
For fiscal year 2024, Remitly expects total revenue in the range of $1,225 million to $1,250 million, representing a growth rate of 30% to 32% year over year. The company anticipates remaining in a GAAP net loss position for 2024 and expects Adjusted EBITDA to be in the range of $85 million to $95 million, an increase from the prior outlook of $75 million to $90 million.
Tailwinds
- Total revenue is expected to be between $1,225 million and $1,250 million, indicating a 30-32% year-over-year growth.
- Adjusted EBITDA is projected to be in the range of $85 million to $95 million.
- The Adjusted EBITDA outlook has been raised from the previous range of $75 million to $90 million.
- Company expects revenue growth.
- Company expects adjusted EBITDA growth.
Headwinds
- The company anticipates remaining in a GAAP net loss position for 2024.
- Company expects net loss.
- Company faces risks related to executing its business and growth strategy.
- Macroeconomic conditions and geopolitical forces could negatively impact the company's business operations.
- The company's ability to achieve and maintain future profitability is uncertain.
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 2024
+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% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q1 2010 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q4 2010 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro