Remitly Global (RELY) Q4 2025 earnings summary

Executive summary

• Achieved first full year of GAAP profitability in 2025, with revenue reaching $1.635 billion, up 29% year-over-year, and Adjusted EBITDA of $272 million, both exceeding guidance.

• Leadership transition: Sebastian Gunningham appointed CEO, with founder Matt Oppenheimer moving to Chairman.

• Quarterly active customers grew 19% year-over-year to 9.3 million, with send volume increasing 37% to $75 billion.

• High amount senders and very high amount senders became a strategic focus, now comprising about 50% of send volume, with high amount sender volume up 41% and very high amount sender volume up 105% year-over-year.

• Launched new products including Flex (Send Now, Pay Later), Remitly Business, and Remitly One membership, all showing strong early traction.

Financial highlights

• Q4 2025 revenue was $442 million, up 26% year-over-year; Adjusted EBITDA was $89 million (20% margin); net income was $41 million.

• Full-year net income reached $68 million, a turnaround from a $37 million loss the prior year.

• Free cash flow for 2025 was $283 million, with a margin of 17%.

• RLTE (revenue less transaction expenses) dollars grew 30% to $305 million in Q4, with RLTE margin at a record 69%.

• Stock-based compensation as a percentage of revenue declined to 8.8%-9.5%, and dilution improved to 5%.

Outlook and guidance

• 2026 revenue expected between $1.94 billion and $1.96 billion, up 19%-20%, with Adjusted EBITDA of $340-$360 million and positive GAAP net income.

• Q1 2026 revenue guidance of $436-$438 million, or 21% growth, with Adjusted EBITDA of $82-$84 million.

• New products revenue contribution expected to more than double in 2026.

• Medium-term (2028) revenue outlook: $2.6–$3.0 billion, with Adjusted EBITDA margin of 20–22%.

• Continued focus on share repurchases as a capital allocation priority.