Remitly Global, Inc. - RELY STOCK NEWS

Remitly (NASDAQ: RELY) reported strong Q4 and full-year 2024 results, exceeding expectations. Q4 highlights include a 32% increase in active customers to 7.8 million, 39% growth in send volume to $15.4 billion, and 33% revenue growth to $351.9 million. The company reduced its net loss to $5.7 million from $35.0 million, while Adjusted EBITDA surged 434% to $43.7 million.

For full-year 2024, send volume grew 38% to $54.6 billion, revenue increased 34% to $1,264.0 million, and net loss improved to $37.0 million from $117.8 million. Adjusted EBITDA rose 203% to $134.8 million.

Looking ahead to 2025, Remitly expects revenue between $1.565-1.580 billion (24-25% growth), positive GAAP net income, and Adjusted EBITDA of $180-200 million. Q1 2025 guidance projects revenue of $345-348 million with Adjusted EBITDA of $36-40 million.

Remitly Global (NASDAQ: RELY), a digital financial services provider, has announced its upcoming fourth quarter and full year 2024 financial results release, scheduled for February 19, 2025, after market close. The company will host a conference call and live webcast at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day.

Management will present financial results and address questions from financial analysts during the call. Interested participants can register for the conference call through the provided link, with registration recommended at least 10 minutes before the start time. A live webcast and replay will be available through the company's Investor Relations website at ir.remitly.com.

Remitly Global (NASDAQ: RELY) has announced its participation in the 2024 Wells Fargo TMT Summit. The company's management team will present on Tuesday, December 3, 2024, at 1:30pm Pacific Time / 4:30pm Eastern Time. The presentation will be accessible via live webcast on Remitly's investor relations website, with a replay available afterward.

Remitly operates as a digital financial services provider specializing in cross-border payments, serving over 170 countries through its digitally native app. The company focuses on delivering fast, reliable, and transparent money movement services, while working to expand its product suite to further its global impact.

Remitly Global (NASDAQ: RELY) reported strong Q3 2024 results with significant growth across key metrics. Revenue increased 39% year-over-year to $336.5 million, while active customers grew 35% to 7.3 million. The company achieved GAAP net income of $1.9 million, compared to a net loss of $35.7 million in Q3 2023. Send volume rose 42% to $14.5 billion, and Adjusted EBITDA surged 345% to $46.7 million.

Following these results, Remitly raised its full-year 2024 outlook, projecting revenue between $1.250-1.254 billion (32-33% growth) and Adjusted EBITDA of $108-112 million, though expecting to remain in a GAAP net loss position for the full year.

Mendaera, a Silicon Valley-based healthcare technology company, has secured $73 million in Series B funding led by Threshold Ventures. The company is developing a handheld robotic interventional platform to address healthcare provider shortages and rising costs in mainstream medical procedures.

Mendaera's platform combines robotics, AI, real-time imaging, and virtual connectivity to improve quality and workforce productivity in common procedures like biopsies, organ and vascular access, and pain management interventions. The funding will be used to complete development of the robotic technology, accelerate AI and connectivity capabilities, and begin clinical introduction.

The company aims to enhance patient experience, increase access to high-quality care, reduce overall costs, and improve healthcare provider satisfaction by making advanced technologies more accessible across specialties and sites of service.

Remitly Global, Inc. (NASDAQ: RELY), a trusted provider of digital financial services, has announced its participation in the 2024 Goldman Sachs Communacopia + Technology Conference. The company's management team will present on Wednesday, September 11, 2024, at 4:25pm Pacific Time / 7:25pm Eastern Time.

The presentation will be webcast live from Remitly's investor relations website, with a replay available after the event. Remitly operates in over 170 countries, offering a digitally native, cross-border payments app known for its fast, reliable, and transparent money movement experience. The company is expanding its product suite to further its vision of transforming lives globally.

Remitly Global, Inc. (NASDAQ: RELY) has announced a significant leadership change with the appointment of Vikas Mehta as Chief Financial Officer, effective August 19, 2024. Mehta, with over 25 years of global experience in Fintech, Software, and eCommerce, will succeed Hemanth Munipalli, who is leaving for family reasons.

Mehta's impressive track record includes CFO roles at Anaplan and Nike Direct, as well as leadership positions at Walmart, Microsoft, and PayPal. In his new role, he will oversee Remitly's financial planning, analysis, procurement, accounting, tax, investor relations, and treasury operations.

This transition comes at a important time for Remitly, a digital financial services provider focused on cross-border transactions. CEO Matt Oppenheimer expressed confidence in Mehta's ability to drive growth and deliver value to customers and shareholders.

Remitly Global, Inc. (NASDAQ: RELY) reported strong second quarter 2024 results, with significant year-over-year growth across key metrics. Active customers increased 36% to 6.9 million, while send volume grew 38% to $13.2 billion. Revenue rose 31% to $306.4 million, and the company's net loss improved by 36% to $12.1 million. Adjusted EBITDA saw a 23% increase to $25.1 million.

Based on these results, Remitly has raised its 2024 financial outlook. The company now expects total revenue between $1,230 million and $1,250 million, representing 30-32% year-over-year growth. Adjusted EBITDA is projected to be in the range of $90 million to $100 million, an increase from the previous outlook.

Remitly Global, Inc. (NASDAQ: RELY), a digital financial services provider, has announced its plans to report second quarter 2024 financial results on Wednesday, July 31, 2024, after the market close. The company will host a conference call and live webcast at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time on the same day to present the results and answer questions from financial analysts.

Interested parties can access the call by registering through the provided link: Remitly 2Q 2024 Earnings Call. A live webcast and replay will also be available on the company's Investor Relations website at https://ir.remitly.com/. Remitly recommends registering at least 10 minutes before the call's start time to ensure proper connection.