Remitly Reports Record Third Quarter Results and Raises Full Year 2026 Outlook
Remitly Global, Inc. (RELY) filed an SEC Form 8-K — Results of Operations and Financial Condition. Remitly Reports Record Third Quarter Results and Raises Full Year 2026 Outlook Send volume up 25% and revenue up 22% year over year Net income of $67.6 million up 665% year over year Adjusted EBITDA of $120.8 million up 97% year over year Board of directors increases share repurc
How this was made
The 30-second read
Why it matters
The earnings beat and raised guidance are likely to drive buying interest, especially given the expanded share‑repurchase program.
Market read
First‑report earnings with strong growth metrics and upgraded outlook, a material catalyst for RELY.
What to watch
Higher share‑repurchase authorization may limit cash for future acquisitions.
Remitly Reports Record Third Quarter Results and Raises Full Year 2026 Outlook
Third-quarter revenue increased 22%, send volume increased 25%, net income increased 665%, and Adjusted EBITDA increased 97% year over year. The company raised its full-year outlook and increased its share repurchase authorization from $200 million to $500 million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenue, three months ended September 30, 2026GAAP | $509.8M | – | up 22% |
| Revenue, nine months ended September 30, 2026GAAP | $1.46B | – | – |
| Active customers, third quarter 2026other | 10.3M | – | up 17% |
| Send volume, third quarter 2026other | $24.4B | – | up 25% |
| Transaction expenses, three months ended September 30, 2026GAAP | $162.4M | – | – |
| Customer support and operations, three months ended September 30, 2026GAAP | $27.80M | – | – |
| Marketing, three months ended September 30, 2026GAAP | $104.0M | – | – |
| Technology and development, three months ended September 30, 2026GAAP | $80.10M | – | – |
| General and administrative, three months ended September 30, 2026GAAP | $59.40M | – | – |
| Depreciation and amortization, three months ended September 30, 2026GAAP | $6.73M | – | – |
| Total costs and expenses, three months ended September 30, 2026GAAP | $440.4M | – | – |
| Income from operations, three months ended September 30, 2026GAAP | $69.40M | – | – |
| Income before (benefit from) provision for income taxes, three months ended September 30, 2026GAAP | $69.76M | – | – |
| (Benefit from) provision for income taxes, three months ended September 30, 2026GAAP | $2.20M | – | – |
| Net income, three months ended September 30, 2026GAAP | $67.6M | – | up 665% |
| Net income, nine months ended September 30, 2026GAAP | $322.5M | – | – |
| Net income per share attributable to common stockholders, basic, three months ended September 30, 2026GAAP | $ 0.32 | – | – |
| Net income per share attributable to common stockholders, diluted, three months ended September 30, 2026GAAP | $ 0.30 | – | – |
| Net income per share attributable to common stockholders, basic, nine months ended September 30, 2026GAAP | $ 1.52 | – | – |
| Net income per share attributable to common stockholders, diluted, nine months ended September 30, 2026GAAP | $ 1.46 | – | – |
| Adjusted EBITDA, three months ended September 30, 2026non-GAAP | $120.8M | – | up 97% |
| Adjusted EBITDA, nine months ended September 30, 2026non-GAAP | $337.1M | – | – |
| Transaction margin dollars, three months ended September 30, 2026non-GAAP | $347.4M | – | – |
| Transaction margin, three months ended September 30, 2026non-GAAP | 68 % | – | – |
| Transaction margin dollars, nine months ended September 30, 2026non-GAAP | $989.3M | – | – |
| Transaction margin, nine months ended September 30, 2026non-GAAP | 68 % | – | – |
| Net cash provided by operating activities, three months ended September 30, 2026GAAP | $93.01M | – | – |
| Free cash flow, three months ended September 30, 2026non-GAAP | $87.78M | – | – |
| Net cash provided by operating activities, nine months ended September 30, 2026GAAP | $309.5M | – | – |
| Free cash flow, nine months ended September 30, 2026non-GAAP | $290.6M | – | – |
| Non-GAAP customer support and operations, three months ended September 30, 2026non-GAAP | $27.25M | – | – |
| Non-GAAP marketing, three months ended September 30, 2026non-GAAP | $100.2M | – | – |
| Non-GAAP technology and development, three months ended September 30, 2026non-GAAP | $56.28M | – | – |
| Non-GAAP general and administrative, three months ended September 30, 2026non-GAAP | $42.84M | – | – |
Amounts quoted below without a unit are in thousands, as in the filing’s tables. Per-share figures are as printed.
fiscal year 2026 and fourth quarter of 2026 outlook
- RevenueFiscal year 2026: $1.989 billion to $1.991 billion, representing a growth rate of 22% year over year. Fourth quarter of 2026: $531 million to $533 million, representing a growth rate of 20% to 21% year over year.
- NoteFiscal year 2026: Year over year growth in net income, and Adjusted EBITDA in the range of $441 million to $443 million.
- NoteFourth quarter of 2026: Year over year growth in net income, and Adjusted EBITDA in the range of $104 million to $106 million.
Capital returns
- The board of directors approved an increase in the aggregate authorization of its share repurchase program by $300 million, from $200 million to $500 million.
- Cash paid for repurchase of common stock was $ 80,012 (in thousands) for the nine months ended September 30, 2026, compared to $ 11,876 (in thousands) for the nine months ended September 30, 2025.
- The share repurchase program does not expire and may be suspended, discontinued, or modified at any time without notice at Remitly’s discretion.
- The share repurchase program does not obligate Remitly to acquire any amount of common stock.
What drove it
- Active customers increased to 10.3 million, compared to 8.9 million, up 17%.
- Send volume increased to $24.4 billion, compared to $19.5 billion, up 25%.
- Transaction margin was 68 % for the three months ended September 30, 2026, compared to 65 % for the three months ended September 30, 2025.
- The company stated that it is evolving from a remittance company into a global financial services provider for people and businesses whose money crosses borders.
- The company stated that productivity tailwinds from AI give it capacity to invest and capture share in the global money movement market.
Concerns
- Marketing expense was $ 103,971 (in thousands) for the three months ended September 30, 2026, compared to $ 91,778 (in thousands) for the three months ended September 30, 2025.
- Restructuring and other costs were $ 2,132 (in thousands) in the reconciliation to Adjusted EBITDA for the three months ended September 30, 2026, compared to $ 496 (in thousands) for the three months ended September 30, 2025.
- The company did not provide a quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income or forecasted GAAP income before income taxes because it cannot calculate certain reconciling items with confidence without unreasonable effort.
- The company cited potential risks from currency fluctuations, inflation, regulatory changes, geopolitical and macroeconomic conditions, regional and global conflicts, customer acquisition and retention, technology development, security and availability, and money transmission licenses and regulatory clearances.
What to watch
- Fourth-quarter total revenue outlook of $531 million to $533 million.
- Fourth-quarter Adjusted EBITDA outlook of $104 million to $106 million.
- Fiscal-year total revenue outlook of $1.989 billion to $1.991 billion and Adjusted EBITDA outlook of $441 million to $443 million.
- Active-customer growth, send-volume growth, and transaction margin.
- Execution of the increased $500 million share repurchase authorization.
Balance sheet and cash flow
- Cash and cash equivalents were $ 669,082 (in thousands) at September 30, 2026, compared to $ 542,426 (in thousands) at December 31, 2025.
- Short-term debt was $ 2,938 (in thousands) at September 30, 2026, compared to $ 2,821 (in thousands) at December 31, 2025.
- Long-term debt was — at September 30, 2026, compared to $ 155,000 (in thousands) at December 31, 2025.
- Total assets were $ 1,653,306 (in thousands) at September 30, 2026, compared to $ 1,458,713 (in thousands) at December 31, 2025.
- Net cash provided by operating activities was $ 309,526 (in thousands) for the nine months ended September 30, 2026, compared to $ 225,172 (in thousands) for the nine months ended September 30, 2025.
- Net cash used in investing activities was $ 25,581 (in thousands) for the nine months ended September 30, 2026, compared to $ 51,582 (in thousands) for the nine months ended September 30, 2025.
- Net cash used in financing activities was $ 155,579 (in thousands) for the nine months ended September 30, 2026, compared to $ 73,411 (in thousands) for the nine months ended September 30, 2025.
Analysis
Remitly reported record third-quarter revenue of $509.8 million, up 22% year over year, supported by a 25% increase in send volume to $24.4 billion and a 17% increase in active customers to 10.3 million. The company characterized its network as having connected the financial lives of more than 50 million senders and recipients over the past year. The filing did not provide revenue by operating segment.
Profitability expanded materially. GAAP net income was $67.6 million, up 665% year over year from $8.8 million, while income from operations was $ 69,402 (in thousands), compared with $ 11,777 (in thousands). Adjusted EBITDA was $120.8 million, up 97% year over year. Transaction margin increased to 68 % from 65 %, while transaction margin dollars were $ 347,406 (in thousands), compared with $ 272,769 (in thousands).
Cost growth varied across major operating lines. Transaction expenses were $ 162,433 (in thousands), marketing was $ 103,971 (in thousands), customer support and operations was $ 27,797 (in thousands), and general and administrative expense was $ 59,403 (in thousands). Technology and development expense was $ 80,103 (in thousands), compared with $ 80,421 (in thousands) in the prior-year quarter. The adjusted EBITDA reconciliation included $ 2,132 (in thousands) of restructuring and other costs for the quarter.
Cash generation remained positive. Net cash provided by operating activities was $ 93,014 (in thousands) in the quarter and free cash flow was $ 87,781 (in thousands). For the nine-month period, operating cash flow was $ 309,526 (in thousands) and free cash flow was $ 290,591 (in thousands). Cash and cash equivalents were $ 669,082 (in thousands) at September 30, 2026, and long-term debt was —. The company paid $ 80,012 (in thousands) for common-stock repurchases in the nine-month period and increased the program authorization from $200 million to $500 million.
Management raised fiscal-year 2026 revenue guidance to $1.989 billion to $1.991 billion and forecast Adjusted EBITDA of $441 million to $443 million. Fourth-quarter guidance calls for revenue of $531 million to $533 million and Adjusted EBITDA of $104 million to $106 million. The release provides year-over-year growth expectations for net income but no numerical GAAP net-income outlook, and it does not reconcile forecasted Adjusted EBITDA to forecasted GAAP net income.
Management, verbatim
We delivered another excellent quarter, with record revenue and a more than seven-fold year over year increase in net income.
Sebastian Gunningham, Chief Executive Officer
These results show the expanding value of our global network, which has connected the financial lives of more than 50 million senders and recipients over the past year.
Sebastian Gunningham, Chief Executive Officer
We’re evolving from a remittance company into a global financial services provider for people and businesses whose money crosses borders.
Sebastian Gunningham, Chief Executive Officer
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so prior-guidance comparisons are unavailable.
- Revenue by operating segment was not reported.
- Gross margin was not reported.
- GAAP operating margin was not reported.
- Quarterly cash paid for repurchases was not reported.
- Dividend information was not reported.
- Numerical fiscal-year and fourth-quarter GAAP net-income guidance was not reported.
- Quantitative reconciliation of forecasted Adjusted EBITDA to forecasted GAAP net income or forecasted GAAP income before income taxes was not provided.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was checked against the filing text, and a metric whose value, prior period and change do not add up is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Remitly Global, Inc. (NASDAQ: RELY) filed an 8‑K reporting its Q3 2026 earnings and outlook.
Ticker impact
Remitly reported record Q3 results and raised its full‑year 2026 outlook, including higher revenue and net‑income guidance.
likely upward pressure as investors price in the raised outlook
The company posted 22% revenue growth, a 665% jump in net income, and increased its share‑repurchase authorization, all of which support a bullish reaction.
Market effects
Strong growth in cross‑border payments may boost the fintech sector.
Positive for U.S. fintechs with international exposure.
Highlights demand for digital remittance services worldwide.
Counterpoint
If the raised guidance is already priced in, the stock could face a short‑term pullback.
Key entities
- companyRemitly Global, Inc.
U.S. listed fintech providing cross‑border money‑transfer services.
