Remitly Reports Q2 2025 Earnings: 27%–28% FY25 Revenue Growth Target and Launch of Remitly One and Business Expansion

Remitly Global Inc. has outlined a 27%-28% revenue growth target for FY25, driven by the launch of Remitly One and expansion of its business segment. CEO Matthew B. Oppenheimer described Q2 as a "defining quarter" with "exceptional financial performance" and "breakthrough product innovation." The company is focusing on four core innovation areas, including the launch of Remitly Business in the US and the upcoming launch of Remitly One.

Remitly Global Inc. (NASDAQ: RELY) has outlined a 27%-28% revenue growth target for the fiscal year 2025, driven by the launch of Remitly One and the expansion of its business segment. CEO Matthew B. Oppenheimer described the second quarter of 2025 as a "defining quarter," highlighting "exceptional financial performance" and "breakthrough product innovation." The company is focusing on four core innovation areas, including the launch of Remitly Business in the US and the upcoming launch of Remitly One.

In Q2 2025, Remitly Global reported revenue of $411.9 million, a 34.4% year-over-year increase, and adjusted EBITDA of $64.0 million, up 144% from the previous year. The company's active customer base increased to 8.5 million, a 24% growth from the previous quarter. The Mexican receive business outpaced overall revenue growth, contributing to the strong performance.

Oppenheimer emphasized that Remitly Business expanded the company's total addressable market (TAM) more than tenfold, from approximately $2 trillion to over $22 trillion, aiming to serve the 1.5 billion freelancers and millions of small businesses increasingly paying international contractors, vendors, and employees. Remitly One, debuting in September, will provide a membership experience integrating Remitly Wallet and Remitly Flex, with the wallet enabling storage of fiat and stablecoins, and Flex offering short-term liquidity for time-sensitive payments.

Remitly's stablecoin initiatives are also poised to drive growth, leveraging the company's global money movement network, regulatory licenses, and deep compliance expertise to integrate stablecoin capabilities at scale. The company is in beta for wallet integration, cross-border payments to stablecoin-compatible wallets, and using tokenized USD stablecoins for internal treasury operations, with launches targeted for September.

Agentic AI, particularly Remitly on WhatsApp, is already available to US and Spanish customers sending to 11 countries, credited with the highest conversion rates among previously offline customers. The company expects the revenue model to remain similar, with potential upside from wallet-based stablecoin value storage.

Remitly's Q2 results exceeded expectations, with revenue $28 million above and adjusted EBITDA $18 million above the midpoint of its Q2 guidance. The company reported its second consecutive positive GAAP net income quarter at $6.5 million. Remitly closed an upsized $550 million secured revolving credit facility and announced a $200 million share repurchase program.

The company expects revenue of $411 million to $413 million for Q3 2025, translating to 22% to 23% growth, and adjusted EBITDA between $53 million and $55 million, translating to 13% margins. Full year 2025 revenue guidance was raised to $1.61 billion to $1.62 billion (27% to 28% growth) and adjusted EBITDA to $225 million to $230 million (14% margin).

The company's strategic focus shifted from resilience and diversification to aggressive product innovation, business segment expansion, stablecoin, and AI integration. Management projects continued profitable growth and increased shareholder value while addressing operational risks and market shifts head-on.

References:
[1] https://seekingalpha.com/news/4480446-remitly-global-gaap-eps-of-003-beats-by-003-revenue-of-4119m-beats-by-2744m
[2] https://seekingalpha.com/news/4480917-remitly-outlines-27-percent-28-percent-fy25-revenue-growth-target-as-platform-launches