How did Remitly Global's revenue and expenses trend in Q4 2024?
4/14/2025 02:23pm
**ReMitly Global's Revenue and Expenses Trends in Q4 2024**
1. **Revenue Growth Continues**: Remitly Global Inc. experienced a robust 39% year-over-year revenue growth in Q3 2024, which is a positive indicator of the company's market performance and customer acquisition efforts.
2. **New Customer Acquisitions**: The company achieved a record number of new customer acquisitions, which contributed significantly to the revenue growth. This suggests that Remitly Global's marketing and customer acquisition strategies are effective.
3. **Send Volume Increase**: The send volume grew over 40% in Q3, significantly outpacing the market growth rate. This increase in volume likely translates to higher revenue in the subsequent quarter, including Q4 2024.
4. **Potential FX Tailwinds**: While FX tailwinds were a factor in the revenue growth, the company anticipates these may not continue into Q4 2024. This indicates that the company is preparing for potential challenges in revenue growth due to external factors.
5. **Seasonal Customer Acquisition Efforts**: Remitly Global expects an increase in marketing expenses in Q4 due to seasonal customer acquisition efforts. This suggests that while revenue may increase, there could be a impact on profitability due to higher expenses.
In conclusion, Remitly Global's revenue is expected to have continued its growth trend in Q4 2024, driven by new customer acquisitions and increased send volumes. However, the company may face challenges due to potential FX tailwinds and increased marketing expenses.