Remitly Global, Inc.

remitly.com

What Do They Do?

Moves money digitally across borders for consumers and businesses, and offers related services including a digital wallet, debit card, and flexible payment option.

How Do They Make Money?

Customers pay upfront to send money; Remitly earns transaction fees and a foreign-exchange spread on each transfer, which is completed when the recipient gets the funds.

FY2025 revenue

Who Are Their Customers?

Consumers and businesses use the app, website, or messaging services to send money across borders; recipients can receive it through bank accounts, cash pickup, or mobile wallets.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 18 cents into free cash flow.

Operating income, FY2025

5% of revenue

▲ Now profitable vs FY2024 (−$39.1M, −3%)

Net income, FY2025

4% of revenue

▲ Now profitable vs FY2024 (−$37M, −3%)

Free cash flow, FY2025

18% of revenue

▲ +180% vs FY2024 ($105.6M, 8%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +20%; vs $411.9M in Q2 FY2025
Net income: ▲ +3050%; vs $6.5M in Q2 FY2025

Aug 5, 2026 Raised its 2026 financial outlook It set expected 2026 revenue at $1.978 billion to $1.988 billion.
May 6, 2026 Raised its full-year 2026 outlook It set expected 2026 revenue at $1.960 billion to $1.975 billion.

Growing. Revenue grew 3.6x in 4 years, from $458.6M in FY2021 to $1.6B in FY2025, about 37% a year.

Broader customer base The older report focused on immigrants and their families; the latest describes serving high-amount senders, businesses, and recipients as well.

More financial products The older report described complementary services as products under development; the latest lists a wallet, card, flexible payment option, and membership program alongside money movement.

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