Remitly Global (RELY) The 44th Annual William Blair Growth Stock Conference summary

Financial performance and growth

• 2023 revenue exceeded initial estimates by $180 million, with EBITDA $75 million above projections.

• Achieved $1 billion in revenue and $58 million in Adjusted EBITDA over the past year, with 30%+ year-on-year growth.

• Q1 2024 saw 36% year-over-year growth in quarterly active users, reaching 6.2 million.

• Annual send volume reached $42.5 billion, representing about 2% of the $1.8 trillion global remittance market.

• 2024 guidance projects 30–32% revenue growth and $85–95 million in Adjusted EBITDA.

Market strategy and expansion

• Operates in over 170 countries and 5,000 corridors, with continued intentional expansion into new markets.

• Revenue outside North America grew more than 7x to nearly $200 million in 2023.

• Expansion playbook focuses on deepening relationships and optimizing compliance and KYC in new send geographies.

• Methodical approach to corridor launches ensures sustainable, efficient long-term growth.

• Diversification reduces risk and enhances FX portfolio management.

Customer experience and technology

• Over 90% of transactions are delivered in less than an hour, with 95% requiring no customer support.

• Digital-first approach enables sending to 4.2 billion bank accounts, 1.2 billion mobile wallets, and 470,000 cash pickup locations.

• Investments in API-based architecture improve efficiency, security, and support for complementary products.

• Machine learning-driven risk systems enhance fraud prevention and customer experience.

• Customer support costs as a percentage of revenue improved by 260 basis points year-over-year.