Why Remitly Stock Popped Today

Shares of Remitly Global (NASDAQ: RELY) were moving higher today after the remittance specialist beat estimates in the first-quarter report and raised its revenue forecast for the year.

As of 12:36 p.m. ET, the stock was up 11% on the news.

Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue »

Image source: Remitly.

Remitly keeps growing

Remitly, which provides a platform for cross-border payments, continued to deliver solid growth. Its active customer base rose 29% to 8 million, driving send volume up 41% to $16.2 billion. As a result, revenue rose 34% to $361.6 million, which was well ahead of the consensus at $347.5 million.

Remitly also reported impressive margin expansion, as adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) jumped 157% to $58.4 million, while net income reached $11.4 million, up from a loss of $21.1 million.

On a per-share basis, the company reported a profit of $0.05 on a generally accepted accounting principles (GAAP) basis.

CEO Matt Oppenheimer said: "We delivered an outstanding start to the year, significantly exceeding our expectations for the first quarter. This performance was driven by the deep and growing trust our customers place in us to deliver a fast, reliable, and secure experience."

What's next for Remitly?

Looking ahead, Remitly issued strong guidance, calling for revenue growth of 25%-26% to $1.574 billion-$1.587 billion, up from a previous range of $1.565 billion-$1.58 billion. It also said it would have positive net income on a GAAP basis, and sees adjusted EBITDA of $195 million-$200 million, up from an earlier range of $180 million-$200 million.

Remitly continues to grab market share from legacy operators like Western Union and MoneyGram, and the future looks bright. The GAAP profitability is also a promising sign for a stock that has a lot of upsides, with its market cap at less than $5 billion currently.

Should you invest $1,000 in Remitly Global right now?

Before you buy stock in Remitly Global, consider this:

The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Remitly Global wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.

Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $623,103!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $717,471!*

Now, it’s worth noting Stock Advisor’s total average return is 909% — a market-crushing outperformance compared to 162% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.

See the 10 stocks »

*Stock Advisor returns as of May 5, 2025

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