Here's Why Remitly Global Jumped 62.4% In The First Half of 2026

Shares of Remitly Global (NASDAQ: RELY) were soaring 62.4% in the first half of 2026, according to data from S&P Global Market Intelligence. The remittance disruptor is taking market share and finally showing some profitability, which is getting investors bullish on the stock.

After years of worries about disruption from novel technologies like stablecoins, Remitly is finally showing its might to investors. Here's why the stock was soaring in 2026, and whether it is still a buy for your portfolio today.

Fast growth and hints of profitability

Remitly has delivered consistent gains for investors in 2026 due to its market share gains in remittances, or international money transfers. In the first quarter, send volume was up 37% to $22.1 billion, revenue was up 25% to $453 million, and, importantly, net income was a positive $49.1 million, up 332% year-over-year.

There is a massive opportunity for Remitly to deliver an easy-to-use money transfer service to tens of millions of customers around the globe, which is allowing it to steal share from existing players while also expanding the total addressable market. Management is now expanding into new sectors, including card spending, mobile wallets, and business transfers.

At the same time, it is expanding profit margins. These dual engines of growth and profitability are why investors are now more bullish on Remitly than they've been in a long while.

Image source: Getty Images.

Should you buy Remitly stock?

Even after this jump, Remitly's stock is still down 51% from its highs set at the time of its 2021 IPO. With monster revenue growth over the past few years, its price-to-sales ratio (P/S) is still below 3. With strong profit margins and further room to grow, this P/S ratio still feels cheap for anyone looking to add to their Remitly position today.

For example, in 2026, Remitly expects revenue to grow by 20% to just under $2 billion. If double-digit growth continues, it will soon reach $3 billion. With EBIT (earnings before interest and taxes) margin climbing, we could see a 20% bottom-line profit margin a few years down the line, especially once Remitly stops its large marketing investments.

A 20% profit margin on $3 billion in revenue is $600 million in earnings, which is still a cheap earnings multiple compared to Remitly's market cap of $5 billion. It is not as cheap as it was at the beginning of this year, but Remitly Global still looks like a solid buy for investors today.

Brett Schafer has positions in Remitly Global. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.