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Sep 30, 2021
Remit Global Q3 2021 Earnings Report
Remitly's Q3 2021 earnings were reported, showing significant growth in revenue, send volume, and active customers.
Key Takeaways
Remitly reported a strong third quarter with significant year-over-year growth. Revenue increased by 69% to $121.2 million, send volume increased by 61% to $5.2 billion, and active customers increased by 51% to 2.6 million. However, the net loss increased to $13.0 million, primarily due to a non-cash donation of common stock and incremental stock-based compensation expense.
Revenue increased by 69% year-over-year, reaching $121.2 million.
Send volume increased by 61% year-over-year, totaling $5.2 billion.
Active customers increased by 51% year-over-year, reaching 2.6 million.
Net loss was $13.0 million, compared to $2.4 million net loss due to non-cash donation of common stock and stock-based compensation expense.
Forward Guidance
For the fiscal year 2021, Remitly expects total revenue in the range of $445 million to $450 million, representing a growth rate of 73% to 75% year-over-year. Adjusted EBITDA is expected to be in the range of $(17) million to $(19) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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