NASDAQ$RELY
Remitly Global Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Remitly's Q4 2023 performance was marked by significant growth in active customers, send volume, and revenue, despite a net loss.
Remitly Global, Inc. reported a strong fourth quarter with a 41% increase in active customers, a 38% increase in send volume, and a 39% increase in revenue. The company saw a net loss of $35.0 million, but adjusted EBITDA was $8.2 million.
- Active customers increased by 41% year over year, reaching 5.9 million.
- Send volume grew by 38% year over year, totaling $11.1 billion.
- Revenue increased by 39% year over year, amounting to $264.8 million.
- Net loss was $35.0 million, compared to a net loss of $19.4 million in the same quarter last year.
Headline financials
Revenue & EPS history
Remit Global · Revenue · Quarterly
$265M
Forward guidance
For fiscal year 2024, Remitly expects 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 for Adjusted EBITDA to be in the range of $75 million to $90 million.
Tailwinds
- Total revenue in the range of $1,225 million to $1,250 million, representing a growth rate of 30% to 32% year over year.
- Focus on driving strong customer growth.
- Sustainably improving profitability.
- Expects Adjusted EBITDA to be in the range of $75 million to $90 million.
- Continued delighting customers with a reliable and fast cross-border payments experience.
Headwinds
- To remain in a GAAP net loss position for 2024.
- Variability of income taxes.
- Variability of stock-based compensation expense.
- Impacted by unpredictable fluctuations in the market price of our common stock.
- 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 Q4 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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