Remitly Global (RELY) Wells Fargo 8th Annual TMT Summit Conference summary

Executive insights and company positioning

• New CFO highlights a mission-driven, culture-first organization with significant market upside and a digital-native approach disrupting legacy remittance models.

• Emphasis on leveraging cloud and mobile infrastructure for a simplified, convenient, and trusted customer experience, with 99.93% uptime and global reach across 170 countries.

• Compliance-first strategy enables rapid expansion into new corridors, overcoming high barriers to entry and regulatory complexity.

• Business model benefits from scale, data-driven decision-making, and a focus on customer-centricity and long-term value creation.

Financial performance and growth drivers

• Achieved record new customer additions, 42% volume growth, first net income positive quarter, and 14% EBITDA margin in Q3, surpassing the Rule of 50.

• Preliminary 2025 revenue growth guidance set at low to mid-20% range, supported by durable, sticky cohort revenues and high customer retention (90%+ after one year).

• Less than 3% market share in a $2T+ market, with over 7 million active customers out of 300 million potential, indicating substantial headroom.

• Diversified revenue base: less than two-thirds from the US, with non-top three receive countries contributing over 50% of revenue and higher growth rates.

Risk management and resilience

• Confident in navigating regulatory changes due to a robust compliance team and resilient business model, even amid macro or political shifts.

• Remittance demand is need-based and non-discretionary, supporting business stability through economic cycles and disruptive events.

• Growth outlook for FY25 is not dependent on new immigration, as most revenue is generated from existing customer cohorts.