NASDAQ Framework: Remitly Global Inc.
Digital financial services for cross-border remittances 1.
1: Remitly Global, Inc. provides digital financial services for immigrants, their families, and other citizens in the United States, Canada, and internationally. It primarily offers cross-border remittance services through mobile application and website. The company was founded in 2011 and is headquartered in Seattle, Washington. View Source
Remitly Global Inc., founded in 2011 and headquartered in Seattle, Washington, provides digital financial services primarily for immigrants, their families, and other citizens in the United States, Canada, and internationally 2. The company offers cross-border remittance services through its mobile application and website, enabling customers to send money internationally in a quick, reliable, and cost-effective manner by leveraging digital channels 3. Remitly generates revenue from transaction fees and foreign exchange spreads 4, and it is expected to reach breakeven by 2026 with an anticipated annual growth rate of 77% 5.
2: Remitly Global, Inc. provides digital financial services for immigrants, their families, and other citizens in the United States, Canada, and internationally. It primarily offers cross-border remittance services through mobile application and website. The company was founded in 2011 and is headquartered in Seattle, Washington. View Source3: Remitly Global Inc provides integrated financial services to immigrants, including helping customers send money internationally in a quick, reliable, and more cost-effective manner by leveraging digital channels. It supports cross-border transmissions across the globe. The company's revenue is generated on transaction fees charged to customers and foreign exchange spreads between the foreign exchange rate offered to customers and the foreign exchange rate on the company's currency purchases. View Source4: Remitly Global Inc provides integrated financial services to immigrants, including helping customers send money internationally in a quick, reliable, and more cost-effective manner by leveraging digital channels. It supports cross-border transmissions across the globe. The company's revenue is generated on transaction fees charged to customers and foreign exchange spreads between the foreign exchange rate offered to customers and the foreign exchange rate on the company's currency purchases. View Source5: According to the 9 industry analysts covering Remitly Global, the consensus is that breakeven is near. They expect the company to post a final loss in 2025, before turning a profit of US$64m in 2026. Therefore, the company is expected to breakeven roughly 2 years from today. How fast will the company have to grow each year in order to reach the breakeven point by 2026? Working backwards from analyst estimates, it turns out that they expect the company to grow 77% year-on-year, on average, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. View Source
UNKNOWN
The provided facts do not explicitly state whether the founders of Remitly Global Inc. are still leading the company or are heavily involved in its operations.
The provided facts do not explicitly state whether the founders of Remitly Global Inc. are still leading the company or are heavily involved in its operations.
MEDIUM RISK
Remitly Global Inc. is currently not profitable, with a trailing-twelve-month loss of US$111 million and an expected breakeven in 2026 6. Although the company is moving closer to its target of breakeven and has a significant market capitalization of US$2.3 billion, the high anticipated annual growth rate of 77% required to achieve profitability indicates a level of uncertainty and potential volatility 7. Additionally, insider selling by key executives may raise concerns about the company's short-term prospects 8.
Remitly Global Inc. is currently not profitable, with a trailing-twelve-month loss of US$111 million and an expected breakeven in 2026 6. Although the company is moving closer to its target of breakeven and has a significant market capitalization of US$2.3 billion, the high anticipated annual growth rate of 77% required to achieve profitability indicates a level of uncertainty and potential volatility 7. Additionally, insider selling by key executives may raise concerns about the company's short-term prospects 8.
6: We feel now is a pretty good time to analyse Remitly Global, Inc.'s (NASDAQ:RELY) business as it appears the company may be on the cusp of a considerable accomplishment. Remitly Global, Inc. provides digital financial services for immigrants, their families, and other citizens in the United States, Canada, and internationally. With the latest financial year loss of US$118m and a trailing-twelve-month loss of US$111m, the US$2.3b market-cap company alleviated its loss by moving closer towards its target of breakeven. Many investors are wondering about the rate at which Remitly Global will turn a profit, with the big question being “when will the company breakeven?” We've put together a brief outline of industry analyst expectations for the company, its year of breakeven and its implied growth rate. View Source7: According to the 9 industry analysts covering Remitly Global, the consensus is that breakeven is near. They expect the company to post a final loss in 2025, before turning a profit of US$64m in 2026. Therefore, the company is expected to breakeven roughly 2 years from today. How fast will the company have to grow each year in order to reach the breakeven point by 2026? Working backwards from analyst estimates, it turns out that they expect the company to grow 77% year-on-year, on average, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. View Source8: Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 27.31 percent of Remitly Global Inc shares are owned by insiders, and 56.83 percent are held by financial institutions. Hug Joshua, the Vice Chair at Remitly Global Inc (RELY) has sold 26,239 shares of firm on May 29 ’24 at a price of $13.23 against the total amount of $0.35 million. In another inside trade, Yoakum Rene, EVP, Customer and Culture of Remitly Global Inc (NASDAQ:RELY) sold 15,000 shares of the firm on May 15 ’24 for a total worth of $0.21 million at a price of $14.24. An inside trade which took place on May 14 ’24, Chief Executive Officer of Remitly Global Inc Oppenheimer Matthew B. sold 10,416 shares of firm against total price of $0.15 million at the cost of $14.24 per share. View Source
NO
There is no evidence provided in the facts that Remitly Global Inc. is launching any new product offerings.
There is no evidence provided in the facts that Remitly Global Inc. is launching any new product offerings.
Remitly Global Inc.'s product roadmap and expansion strategy for 2024 through to 2026 focuses on achieving profitability by 2026, with an expected annual growth rate of 77% 9. This ambitious growth target reflects the company's ongoing investment period and its efforts to expand its digital financial services for cross-border remittances 10. Remitly aims to enhance its service offerings and leverage digital channels to provide quick, reliable, and cost-effective international money transfers 11. The company is also actively participating in investor conferences and presenting at industry events to bolster its market presence and attract investment 1213.
9: According to the 9 industry analysts covering Remitly Global, the consensus is that breakeven is near. They expect the company to post a final loss in 2025, before turning a profit of US$64m in 2026. Therefore, the company is expected to breakeven roughly 2 years from today. How fast will the company have to grow each year in order to reach the breakeven point by 2026? Working backwards from analyst estimates, it turns out that they expect the company to grow 77% year-on-year, on average, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. View Source10: Given this is a high-level overview, we won’t go into details of Remitly Global's upcoming projects, but, bear in mind that typically a high forecast growth rate is not unusual for a company that is currently undergoing an investment period. View Source11: Remitly Global Inc provides integrated financial services to immigrants, including helping customers send money internationally in a quick, reliable, and more cost-effective manner by leveraging digital channels. It supports cross-border transmissions across the globe. The company's revenue is generated on transaction fees charged to customers and foreign exchange spreads between the foreign exchange rate offered to customers and the foreign exchange rate on the company's currency purchases. View Source12: Remitly to Report Second Quarter Financial Results on Wednesday, July 31, 2024 GlobeNewswire Jul 19, 2024 8:05pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY PR Newswire Jun 7, 2024 6:10pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY GlobeNewswire Jun 5, 2024 9:30pm Remitly to Present at the William Blair 44th Annual Growth Stock Conference GlobeNewswire May 31, 2024 8:05pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY PR Newswire May 30, 2024 10:20pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY GlobeNewswire May 28, 2024 8:05pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY PR Newswire May 23, 2024 5:05pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY GlobeNewswire May 20, 2024 8:35pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY PR Newswire May 16, 2024 10:53pm Remitly Announces May 2024 Investor Conference Participation GlobeNewswire May 16, 2024 1:00am SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY GlobeNewswire May 12, 2024 12:33pm Remitly Announces May 2024 Investor Conference Participation GlobeNewswire May 10, 2024 1:00pm Remitly Appoints Ronit Peled as Chief People Officer GlobeNewswire May 7, 2024 4:00pm INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Remitly Global, Inc. and Encourages Investors to Contact the Firm GlobeNewswire May 2, 2024 3:59pm Remitly Reports First Quarter 2024 Results GlobeNewswire May 1, 2024 8:05pm View Source13: Remitly to Report Second Quarter Financial Results on Wednesday, July 31, 2024 GlobeNewswire Jul 19, 2024 8:05pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY PR Newswire Jun 7, 2024 6:10pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY GlobeNewswire Jun 5, 2024 9:30pm Remitly to Present at the William Blair 44th Annual Growth Stock Conference GlobeNewswire May 31, 2024 8:05pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY PR Newswire May 30, 2024 10:20pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY GlobeNewswire May 28, 2024 8:05pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY PR Newswire May 23, 2024 5:05pm SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Remitly Global, Inc. - RELY GlobeNewswire May 20, 2024 8:35pm View Source