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- **Q3 Growth Milestones**: 25% revenue growth ($419.5M), 15% EBITDA margin, 35% send volume growth to $19.5B.
- **New Product Momentum**: Flex reaches 100,000 users, Remitly Business expands to 10,000 businesses, stablecoins integrated in 2 volatile markets.
- **2026 Outlook**: High-teens revenue growth (initial view), cautious on immigration headwinds, but optimistic on digital remittance tax benefits.
- **Financial Discipline**: 9.5% stock comp as % of revenue, $11.9M share buybacks, 90%+ transaction reliability metrics.
- **Strategic Focus**: AI-driven efficiency, $22T TAM expansion, and leveraging One Big Beautiful Bill tax to accelerate digital adoption.

**【CEO Summary Section】**
- **Revenue Growth and Margins**: Q3 revenue of $419.5 million (+25% YoY), adjusted EBITDA of $61.2 million (15% margin). Send volume grew 35% to $19.5 billion, driven by high-amount senders and business customers.
- **New Customer Categories**: Remitly Business expanded to U.S., U.K., and Canada, with 10,000 businesses using the platform. High-amount senders (> $1,000) saw 40% YoY growth in send volume.
- **Product Innovations**: Flex (100,000 active users) enables send-now-pay-later, with 90% of receivables current. Stablecoins integrated into payout networks in Nigeria and Argentina.
- **Strategic Initiatives**: Targeting $22 trillion TAM, leveraging AI for risk management, and benefiting from the One Big Beautiful Bill tax (effective Jan 2026) to drive digital remittance adoption.

**【CFO Financial Commentary】**
- **Revenue and Profitability**: Q3 GAAP net income of $8.8 million, up from $1.9 million YoY. Stock-based compensation declined 214bps to 9.5% of revenue. Shares repurchased: $11.9 million under $200M authorization.
- **Cost Efficiency**: Transaction expenses 35% of revenue, stablecoins reducing idle float. Customer support contact rates <1%, platform uptime 99.99%.
- **2026 Outlook**: High-teens revenue growth (initial view), cautious on immigration headwinds but optimistic on digital remittance shift. Q4 guidance: $426-428M revenue, 12% EBITDA margin.

**【Q&A Key Highlights】**
- **2026 Growth Drivers**: Remittance tax, product innovation (Flex, stablecoins), and geographic expansion. High-teens growth balanced with margin discipline.
- **Incremental Margins**: Focus on RLTE (Revenue Less Transaction Expense) growth, AI-driven efficiency, and controlled marketing spend (LTV:CAC ~6x).
- **Flex Credit Profile**: 90% of receivables current, minimal charge-offs. Unit economics improving as cohorts mature, with capital-efficient model.
- **Risk Management**: Immigration policy risks in key send markets (U.S., Canada) could impact new customer acquisition.


Remitly Global, Inc. (RELY) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

RELY

RELY fundamentals

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