Remitly Global(NASDAQ) RELY

Remitly Global, Inc. helps people send money to family and friends in other countries. Its app makes international transfers simple and fast for immigrants. The service lets users move funds across borders without using physical cash agents.

How Remitly Moves Money

• Global Money Movement: Digital platform for international transfers; generates the substantial majority of revenue from transaction fees and foreign exchange spreads.
• Disbursement Options: Delivery through bank accounts, mobile wallets, and cash pick-up; provides access to over 5.8 billion accounts and 490,000 cash locations.
• Send-Side Funding: Acceptance of bank accounts, cards, and digital wallets; removes costs associated with physical sending agents.

Expanding the Global Network

• Entered a new $550 million revolving credit facility in June 2025 to support customer transaction volumes.
• Approved a $200 million share repurchase program in July 2025 and repurchased $65.6 million through June 2026.
• Expanded into new customer categories including high-amount senders and business accounts.
• Integrated artificial intelligence across the platform to automate risk detection and optimize marketing efforts.

Technology and Trusted Systems

Remitly operates in more than 175 countries through a network of 5,700 corridors that pair send and receive locations. Its digital-first model avoids the high costs of physical branch locations used by traditional money transfer services.

Recent Performance by the Numbers

• Revenue reached $495.2 million for the three months ended June 30, 2026, up 20% year over year.
• Active customers grew to 10.2 million for the three months ended June 30, 2026, up 20% year over year.
• Send volume hit $23.5 billion for the three-month period ended June 30, 2026, up 27% year over year.
• Net income was $205.9 million in the second quarter of 2026, which included a $140.6 million tax benefit.
• Adjusted EBITDA rose to $114.7 million for the three months ended June 30, 2026, up from $64.0 million in the prior year.

Evolution into Financial Services

Remitly is evolving from a single-product transfer company into a broader provider of cross-border financial services. Its scale and digital network help lower costs while serving a growing range of personal and business needs.