Remitly Global, Inc. ( (RELY) ) has released its Q4 earnings. Here is a breakdown of the information Remitly Global, Inc. presented to its investors.
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Remitly Global, Inc. is a digital financial services company specializing in cross-border payments, providing customers with a fast, reliable, and transparent money transfer experience in over 170 countries. Based in Seattle, the company aims to transform lives around the world through its growing suite of products.
Remitly’s latest earnings report reveals a strong performance for the fourth quarter and full year 2024, surpassing prior expectations. The company experienced significant growth in active customers and revenue, demonstrating the effectiveness of its customer-centric approach and technological innovations.
Key financial highlights for the fourth quarter include a 32% increase in active customers, reaching 7.8 million, and a 33% rise in revenue to $351.9 million. Despite a net loss of $5.7 million, the company reported an impressive adjusted EBITDA of $43.7 million, marking a 434% increase from the previous year. For the full year 2024, Remitly saw a 34% revenue growth to $1.264 billion and reduced its net loss to $37 million, while adjusted EBITDA surged by 203% to $134.8 million.
Looking ahead to 2025, Remitly anticipates continued revenue growth in the range of 24% to 25%, with expectations of turning a positive GAAP net income within the year. The company remains optimistic about its growth prospects and innovation capabilities as it strives to maintain its momentum in the competitive financial services sector.
