Remit Global Q4 2021 Earnings Report
Key Takeaways
Remitly reported a strong fourth quarter with significant growth in active customers, send volume, and revenue. Active customers increased by 50%, send volume increased by 64%, and revenue increased by 69%. However, the company's net loss also increased compared to the same period last year.
Active customers increased 50% year over year, reaching 2.8 million.
Send volume increased 64% year over year, totaling $6.0 billion.
Revenue increased 69% year over year, reaching $135.3 million.
Net loss was $16.6 million, compared to $9.0 million in the fourth quarter of 2020.
Remit Global
Remit Global
Forward Guidance
For fiscal year 2022, Remitly expects total revenue in the range of $605 million to $615 million, representing a growth rate of 32% to 34% year over year and Adjusted EBITDA in the range of $(40) million to $(30) million.