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Jun 30, 2022
Remit Global Q2 2022 Earnings Report
Remitly Global reported strong Q2 2022 financial results, driven by delivering for its customers.
Key Takeaways
Remitly Global reported a revenue increase of 42% year-over-year, reaching $157.3 million. Active customers grew by 43% to 3.4 million, and send volume increased by 40% to $7.0 billion. The company raised its revenue and Adjusted EBITDA outlook for 2022.
Active customers increased to 3.4 million, up 43% year-over-year.
Send volume increased to $7.0 billion, up 40% year-over-year.
Revenue totaled $157.3 million, up 42% year-over-year.
The company is raising its revenue and Adjusted EBITDA outlook for 2022.
Remit Global
Remit Global
Forward Guidance
For fiscal year 2022, Remitly expects total revenue in the range of $625 million to $630 million, representing a growth rate of 36% to 37% year-over-year, and Adjusted EBITDA in the range of $(35) million to $(30) million.
Positive Outlook
- Total revenue in the range of $625 million to $630 million, representing a growth rate of 36% to 37% year-over-year.
- Revenue outlook reflects an increase from the prior outlook of $610 million to $620 million.
- Adjusted EBITDA in the range of $(35) million to $(30) million.
- Adjusted EBITDA outlook reflects an increase at the midpoint from the prior outlook of $(40) million to $(30) million.
- Expect continued progress on strategic growth initiatives in the back half of 2022.