NASDAQ$RELY
Remitly Global Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Remitly's financial performance exceeded expectations, achieving GAAP net income profitability and record Adjusted EBITDA.
Remitly reported a strong third quarter in 2024, with revenue up 39% year over year and active customers increasing by 35%. The company achieved GAAP net income profitability and raised its full-year 2024 outlook for both revenue and Adjusted EBITDA.
- Active customers increased to 7.3 million, up 35% year over year.
- Send volume increased to $14.5 billion, up 42% year over year.
- Revenue totaled $336.5 million, up 39% year over year.
- Net income was $1.9 million, compared to a net loss of $35.7 million in the same quarter last year.
Headline financials
Revenue & EPS history
Remit Global · Revenue · Quarterly
$337M
Forward guidance
For the fourth quarter of 2024, Remitly expects total revenue in the range of $338 million to $342 million, representing a growth rate of 28% to 29% year over year. The company anticipates a GAAP net loss position and Adjusted EBITDA to be in the range of $17 million to $21 million.
Tailwinds
- Total revenue in the range of $338 million to $342 million, representing a growth rate of 28% to 29% year over year.
- Growth opportunities in 2025 and beyond
- Executing on vision of transforming lives with trusted financial services
- Increased 2024 outlook for both revenue and Adjusted EBITDA
- Full year 2024 revenue expected to be in the range of $1.250 billion to $1.254 billion, representing a growth rate of 32% to 33% year over year.
Headwinds
- A GAAP net loss position for the fourth quarter of 2024
- Adjusted EBITDA to be in the range of $17 million to $21 million.
- To remain in a GAAP net loss position for 2024
- Cannot calculate certain reconciling items with confidence due to variability
- Limited visibility of the adjusting items that would be excluded from forecasted Adjusted EBITDA
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 Q3 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% | |
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