Online money transfer platform Remitly (NASDAQ: RELY) will be reporting results this Wednesday after market hours. Here’s what investors should know.
Remitly beat analysts’ revenue expectations by 7.2% last quarter, reporting revenues of $411.9 million, up 34.4% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EBITDA estimates and full-year EBITDA guidance exceeding analysts’ expectations. It reported 8.51 million active customers, up 24.2% year on year.
Is Remitly a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Remitly’s revenue to grow 22.9% year on year to $413.7 million, slowing from the 39.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.18 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Remitly has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.5% on average.
Looking at Remitly’s peers in the consumer internet segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Coinbase delivered year-on-year revenue growth of 55.1%, beating analysts’ expectations by 4.5%, and Carvana reported revenues up 54.5%, topping estimates by 11.1%. Coinbase traded up 4.4% following the results while Carvana was down 13.8%.
Read our full analysis of Coinbase’s results here and Carvana’s results here.
Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the consumer internet stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4.2% on average over the last month. Remitly is up 6.3% during the same time and is heading into earnings with an average analyst price target of $24.83 (compared to the current share price of $16.72).
P.S. In tech investing, "Gorillas" are the rare companies that dominate their markets—like Microsoft and Apple did decades ago. Today, the next Gorilla is emerging in AI-powered enterprise software. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
