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Mar 31
Remit Global Q1 2025 Earnings Report
Estimated Revenue:$346M
+28.6% YoY
Estimated EPS:$0.169
+223.3% YoY
Key Takeaways
Remitly Global reported a strong start to 2025, exceeding expectations for the first quarter with significant year-over-year growth in send volume, revenue, and a shift from a net loss to net income.
First quarter 2025 revenue increased 34% year over year to $361.6 million.
Send volume grew by 41% year over year, reaching $16.2 billion.
The company achieved net income of $11.4 million in Q1 2025, a significant improvement from a net loss of $21.1 million in Q1 2024.
Adjusted EBITDA saw substantial growth, increasing 157% year over year to $58.4 million.
Remit Global
Remit Global
Forward Guidance
Remitly raised its full year 2025 outlook for both revenue and Adjusted EBITDA based on strong Q1 results. The company expects positive GAAP net income for the full year 2025.
Positive Outlook
- Raised full year 2025 revenue outlook to $1.574 billion to $1.587 billion.
- Revised full year 2025 Adjusted EBITDA outlook upwards to $195 million to $210 million.
- Expects GAAP net income to be positive for fiscal year 2025.
- Projecting Q2 2025 revenue between $383 million and $385 million, representing 25% to 26% growth.
- Anticipates Q2 2025 Adjusted EBITDA in the range of $45 million to $47 million.
Challenges Ahead
- Expects a GAAP net loss position for the second quarter of 2025.
- Guidance is subject to various risks and uncertainties, including macroeconomic conditions and regulatory changes.
- Future GAAP financial results could be significantly impacted by unpredictable fluctuations in stock price affecting stock-based compensation.
- Cannot provide a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income (loss) due to variability of certain items.
- Competition in the digital financial services market could impact future performance.
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Key Statistics
Market Cap
$3.82B
P/E Ratio
-353.98
Sector
Commercial Services
Industry
Miscellaneous Commercial Services
52-Week High
$27.1
52-Week Low
$12.7
Send Volume
$16.2B
Active Customers
8M
Adjusted EBITDA
$58.4M