Quarterly ResultMay 6, 2026, 04:43 PM
Remitly Q1 Revenue +25% to $452.8M; Net Income +332% to $49.1M
AI Summary
Remitly Global reported robust financial results for the first quarter of 2026, with revenue increasing 25.2% to $452.8 million and net income soaring 332.1% to $49.1 million. The company also demonstrated strong capital management by repurchasing $44.2 million of its common stock and fully repaying $155.0 million in revolving credit facility borrowings, resulting in no outstanding debt under the facility as of quarter-end.
Key Highlights
- Net income surged 332.1% to $49.1 million for the three months ended March 31, 2026.
- Revenue increased 25.2% to $452.8 million in Q1 2026 compared to Q1 2025.
- Diluted EPS rose 360% to $0.23 for the first quarter of 2026.
- Repurchased 2,770,428 shares of common stock for $44.2 million in Q1 2026.
- Repaid $155.0 million in outstanding borrowings under the 2025 Revolving Credit Facility.
- Cash and cash equivalents stood at $649.1 million as of March 31, 2026.
- United States revenue reached $297.8 million in Q1 2026.
Price Impact
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