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Earnings analysis · 10-Q

RELY earnings analysis

Filed May 6, 2026 · Our reading of the company's report

The latest report

Remitly's Q1 2026 results demonstrate robust growth with revenue rising to $452.8 million, up 25% year-over-year, while net income surged by 332% to $49.1 million. Active customers increased by 20% to approximately 9.6…

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Remitly's Q1 2026 results demonstrate robust growth with revenue rising to $452.8 million, up 25% year-over-year, while net income surged by 332% to $49.1 million. Active customers increased by 20% to approximately 9.6 million, driven by expanded market presence and effective marketing strategies; however, diluted EPS came in lower than expected at $0.23 compared to the consensus forecast of $0.26.

Read the original on SEC.gov

Reported figures

Earnings per share
$0.23

What stood out

  • Strong Revenue Growth

    Total revenue reached $452.8 million, a 25% increase from $361.6 million in Q1 2025.

  • Significant Increase in Net Income

    Net income rose to $49.1 million, up from $11.4 million in the prior year, marking a 332% increase.

  • Active Customers up 20%

    Active customers grew to 9.6 million from 8.0 million, showcasing robust customer engagement.

  • Improvement in Transaction Expense Ratio

    Transaction expenses decreased to 32% of revenue, down from 34% in Q1 2025.

  • Solid Cash Flow from Operations

    Operating cash flow was $81.9 million, reflecting an increase from $80.8 million year-over-year.

  • Increased Guidance for FY 2026

    Management anticipates 20% revenue growth for the full year, with expectations of reaching up to $1.975 billion.

What to watch

  • Higher Interest Expenses

    Interest expenses increased by $1.1 million to $2.4 million, reflecting debt reliance.

  • Regulatory Exposure

    New U.S. policies increasing regulatory burdens could impact transaction volumes.

  • Currency Volatility Risks

    Expose to foreign currency fluctuations could adversely affect net income as per ongoing trends.

Management's outlook

Management anticipates FY 2026 revenue between $1.96 billion and $1.975 billion, representing a 20% increase from 2025.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.