Remitly's Earnings Call: Contradictions in Stablecoin Demand, Marketing Efficiency, and Margin Expansion

Strong Financial Performance:
- Remitly Global reported a revenue of $411.9 million for Q2 2025, up 34% year-over-year.
- Adjusted EBITDA margin was 16%.
- The growth was driven by increased send volume, strong performance in the U.S. market, and significant revenue growth in the rest of the world.

Agio AI and Customer Acquisition:
- Remitly's Agentic AI handled nearly 2 million real-time interactions with customers, reducing cost to serve and increasing satisfaction.
- AI-driven innovations, like Remitly on WhatsApp, are facilitating the shift from offline to online transactions, particularly in regions with high unbanked populations.

Product Innovation and New Initiatives:
- Remitly Business expanded the TAM significantly, targeting $22 trillion in transactions, serving freelancers and small businesses.
- Remitly One, a membership program, was launched to address cross-border financial needs, offering benefits like cash rewards and interest on balances.
- Stablecoin integration was initiated to enhance cross-border payment flexibility and global reach.

Marketing Efficiency and Customer Growth:
- Marketing spend was $79.8 million, up 10.4% year-over-year, with a decline in marketing spend per active customer by 11%.
- The efficiency in marketing was reflected in a year-over-year decline in marketing spend per quarterly active customer, supporting customer retention and growth.