At a glance
Remitly Global Inc is worth $5.14B, about 78 times its fiscal 2025 earnings. Revenue grew 29.4% to $1.64B in fiscal 2025, with 4.2% kept as profit; over 5 years it has grown 44.8% a year. It pays no dividend; it spent $23.9M buying back its shares over FY2021–FY2025. The stock returned +45.9% over the past year with dividends reinvested and −5.4% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 65.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months after the low.
The business in plain English
Remitly Global, founded in 2011, runs a digital service for sending money across borders. Customers use its mobile app, website or messaging services to send money to family and friends abroad, instead of waiting in line at an agent's counter. In the fourth quarter of 2025, 9.3 million customers completed at least one transfer, up 19% from a year earlier. The service covers more than 175 countries and more than 5,300 "corridors" (pairs of sending and receiving countries).
Most revenue comes from money transfers. Remitly makes money on each transfer in two ways: a fee, and a foreign exchange spread (a markup built into the exchange rate the customer receives). Customers sent $74.9 billion in 2025, up 37%. Partner banks, mobile wallets and about 490,000 cash pick-up points deliver the money, so Remitly does not need local offices in every country.
Revenue reached $1.64 billion in 2025, up 29%. By region, the United States produced 66% of revenue, Canada 10% and the rest of the world 24%. Over time, transfers to India, Mexico and the Philippines have produced a large share of revenue. Newer products include Remitly Flex (a no-interest way to pay for a transfer later), a digital wallet and debit card, and services for businesses and people who send larger sums.
Price history
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RELY +45.9% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By geography
| United States | $1.08B | 66.2% |
| Rest of world | $388.2M | 23.7% |
| Canada | $163.8M | 10% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $495.2M, up 20.2% from a year earlier, and net income was $205.9M (+3050.4%).
- For fiscal 2025, revenue was $1.64B (+29.4% year over year; +44.8% a year from FY2020 to FY2025) with a 4.2% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +44.8% good |
|---|---|
| Operating margin | 4.7% weak |
| Free cash flow margin | 18.1% good |
| Return on equity (FY2025) | 7.8% weak |
| Return on assets (FY2025) | 4.7% watch |
| Net cash (cash minus debt) | $673.4M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $257.0M | $-32.6M | $-116.3M |
| FY2021 | $458.6M | $-38.8M | $-20.3M |
| FY2022 | $653.6M | $-114.0M | $-112.3M |
| FY2023 | $944.3M | $-117.8M | $63.9M |
| FY2024 | $1.26B | $-37.0M | $105.6M |
| FY2025 | $1.64B | $67.9M | $295.7M |
Valuation snapshot
| Market value | $5.14B |
|---|---|
| P/E ratio | 78.3 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Remitly Global’s market value went from $3.38B at the end of 2021 to $5.14B on Oct 28, 2026, up 52%; since the end of 2025 it is up 78%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $5.14B | +78.1% |
| 2025 | $2.88B | -35.5% |
| 2024 | $4.47B | +24.3% |
| 2023 | $3.60B | +84.0% |
| 2022 | $1.95B | -42.3% |
| 2021 | $3.38B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| RELY price data to Oct 28, 2026 | +75.9% | +45.9% | -2.0% | -5.4% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +75.9% |
| 2025 | -38.9% |
| 2024 | +16.2% |
| 2023 | +69.6% |
| 2022 | -44.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 47.6% over that stretch · deepest drop along the way 65.8%, back to its old high 14.4 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 31 sales ($31.1M), 19 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jul 16, 2026 | Joshua Hug Director | sell (plan) | $9.1M |
| Jul 15, 2026 | Joshua Hug Director | sell (plan) | $7.8M |
| Aug 7, 2026 | Phillip John Riese Director | sell | $4.0M |
| Aug 11, 2026 | Phillip John Riese Director | sell | $1.2M |
| Aug 11, 2026 | Phillip John Riese Director | sell | $1.2M |
Who owns it
Large shareholders (13G filings)
| PayU Fintech Investments B.V. | 12.3% | May 14, 2025 |
| FMR LLC | 10.3% | Jun 30, 2026 |
| BlackRock, Inc. | 9.6% | Sep 30, 2026 |
| Vanguard Portfolio Management | 5.99% | Sep 30, 2026 |
| BAILLIE GIFFORD & CO | 4% | Sep 30, 2026 |
| Cadian Capital Management, LP | 2.8% | Dec 31, 2024 |
ETFs with the most weight in RELY
| LOUP Innovator Deepwater Frontier Tech ETF | 3.09% |
| IPAY Amplify Mobile Payments ETF | 2.02% |
| FNY First Trust Mid Cap Growth AlphaDEX Fund | 0.6% |
| SCDS JPMorgan Fundamental Data Science Small Core ETF | 0.47% |
| MMSC First Trust Multi-Manager Small Cap Opportunities ETF | 0.39% |
| TRFM AAM Transformers ETF | 0.35% |
| FNX First Trust Mid Cap Core AlphaDEX Fund | 0.3% |
| VTWG Vanguard Russell 2000 Growth ETF | 0.27% |
What could go wrong
- Reliance on India, Mexico and the Philippines. Over time, a large share of revenue has come from transfers to these three countries. Economic trouble, political change or new rules in any of them could hit Remitly's results hard.
- New taxes or limits on transfers. Governments could tax or restrict money transfers, and regulators could cap fees or foreign exchange spreads. Those two charges are how Remitly earns most of its revenue.
- Payout partners could fail or falter. Banks, mobile wallets and cash pick-up outlets deliver the money. If a partner fails to pay out, goes bust or changes its terms, Remitly could lose funds or customers.
- Fraud and compliance failures. Remitly moves large sums of customer money every day. Fraud, errors, or use of its service for money laundering or sanctions breaches could bring losses, fines, or loss of the licenses it needs.
- A short record of profits. Remitly lost money every year from 2020 to 2024. It earned $67.9 million in 2025, or 4.2 cents per dollar of revenue, and says there is no assurance it will stay profitable.
- Larger rivals and pressure on prices. Banks, app-only banks, digital wallets and other financial technology firms compete for the same customers. Some are much bigger, and their new offers could force Remitly to cut prices.
Recent events
- Major agreement signed; New debt or financial obligation
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Executive or board change
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Remitly paid no dividends from 2020 through 2025, so it provides no regular income. For an income investor, any return comes from the share price alone. It spent $23.9 million repurchasing its own stock in 2025, but that did not offset dilution (new shares shrinking each holder's slice). The share count rose 29%, from about 164 million in November 2021 to about 212 million in August 2026.
The price has swung hard. Its price history, about 5.1 years long, does not cover the 2008 or 2020 crashes. In the 2022 bear market (a broad, lasting market decline), it dropped 65.8% from its January 3 peak to a May 11 low and took about 14 months, until July 2023, to recover. Its worst peak-to-low fall was 83%, and it lost 38.9% in calendar 2025. A single stock like this carries more risk than a diversified fund spread across many companies.
Questions investors ask
How does Remitly make money?
Mostly from fees and exchange-rate markups on money transfers. On each cross-border transfer, Remitly charges a transaction fee and earns a foreign exchange spread, a markup built into the exchange rate the customer receives. Customers sent $74.9 billion through Remitly in 2025, up 37%, and revenue reached $1.64 billion. Newer products, including Remitly Flex (a no-interest way to pay for a transfer later) and a digital wallet and debit card, aim to deepen customer ties, but transfers still produce the large majority of revenue.
Does Remitly pay a dividend?
No. Remitly paid no dividends in any year from 2020 through 2025, so the stock provides no regular income. The company returned some cash another way, spending $23.9 million to repurchase its own shares in 2025. Even so, the share count rose 29% between November 2021 and August 2026, which spreads ownership more thinly. For an income investor, any return from Remitly depends entirely on the share price.
Is Remitly profitable?
Yes. Remitly made a full-year profit in 2025 after losses every year from 2020 through 2024. It earned $67.9 million, or $0.31 a share, on revenue of $1.64 billion. Free cash flow, the cash left after running and investing in the business, was $295.7 million. For the quarter ended June 30, 2026, net income was $205.9 million, up 3,050% from a year earlier. The quarterly report explains what drove that jump.
Does Remitly have a lot of debt?
Very little. As of June 30, 2026, Remitly reported total debt of about $3 million against $676.4 million in cash and investments, leaving net cash of $673.4 million. Shareholders' equity (assets minus liabilities) was $1.13 billion. The share price is high relative to profits, though. As of October 28, 2026, the company's market value was about $5.14 billion and its price-to-earnings ratio was 78.3, meaning the stock traded at 78.3 times its 2025 earnings per share.
How has Remitly stock performed?
Unevenly, with big swings. As of October 28, 2026, the shares were up 75.9% year to date and 45.9% over one year, but down 24% over five years, a loss of 5.4% a year. Calendar-year returns were -44.5% in 2022, +69.6% in 2023, +16.2% in 2024 and -38.9% in 2025. In the year to October 28, 2026, its beta was 1.39, meaning it tended to move about 1.4 times as much as the broad market.