| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 452.80 | 25.2% |
| Total Income | 452.80 | 25.2% |
| Expenditure | 399.06 | 14.2% |
| PBT | 52.08 | 248.6% |
| Net Profit | 49.05 | 332.2% |
| OPM | 11.87% | 8.49pp |
| NPM | 10.83% | 7.69pp |
| EPS | 0.23 | 283.3% |
Remitly Reports Q1 2026: Revenue Up 25% YoY, Net Income Up 332%
07 May 2026 · 7 May, 1:56 am
Summary
Remitly Global, Inc. reported strong first-quarter results, with revenue up 25% year-over-year to $452.8 million. Net income saw a substantial increase of 332%, reaching $49.1 million. Adjusted EBITDA also grew significantly, up 74% to $101.6 million. The company has raised its full-year 2026 outlook, expecting revenue between $1.960 billion and $1.975 billion and Adjusted EBITDA between $370 million and $385 million.
Key Highlights
- 1
Remitly's first quarter send volume increased by 37% year-over-year to $22.1 billion.
- 2
The company's revenue totaled $452.8 million in the first quarter, representing a 25% increase compared to the same period last year.
- 3
Net income for the first quarter was $49.1 million, a significant increase of 332% year-over-year.
- 4
Adjusted EBITDA for the first quarter reached $101.6 million, up 74% compared to the first quarter of 2025.
- 5
Active customers increased to 9.6 million, reflecting a 20% growth compared to the first quarter of the previous year.
- 6
Remitly expects total revenue for fiscal year 2026 to be in the range of $1.960 billion to $1.975 billion, representing a growth rate of 20% to 21% year-over-year.
- 7
The company anticipates year-over-year growth in net income for 2026 and Adjusted EBITDA to be in the range of $370 million to $385 million.
Management Comments
Sebastian Gunningham
We delivered an exceptional Q1, achieving record revenue and Adjusted EBITDA. Outperformance across key corridors and an increasing pace of product innovation are contributing to strong momentum in the business. The accelerated growth in quarterly active users is evidence of the continued trust and confidence customers place in Remitly. At the same time, disciplined cost management, scale benefits, and AI-driven efficiencies are delivering strong operating leverage.”
Informational and educational content only. Not investment advice.