Remitly’s second quarter was marked by strong customer growth and broad product momentum, leading to results that surpassed Wall Street expectations and a significant positive market reaction. Management pointed to robust execution in both its core digital money transfer business and newer growth initiatives, citing record new customer additions and improved transaction speeds as key drivers. CEO Sebastian Gunningham highlighted, “Nearly 70% of global funded transfers were delivered in under 20 seconds, an all-time high,” emphasizing operational progress and customer trust.
Is now the time to buy RELY? Find out in our full research report (it’s free for active Edge members).
Remitly (RELY) Q2 CY2026 Highlights:
- Revenue: $495.2 million vs analyst estimates of $486.5 million (20.2% year-on-year growth, 1.8% beat)
- Adjusted EPS: $1.12 vs analyst estimates of $0.31 (significant beat)
- Adjusted EBITDA: $114.7 million vs analyst estimates of $88.1 million (23.2% margin, 30.2% beat)
- The company slightly lifted its revenue guidance for the full year to $1.98 billion at the midpoint from $1.97 billion
- EBITDA guidance for the full year is $412.5 million at the midpoint, above analyst estimates of $383.1 million
- Operating Margin: 13.5%, up from 3.6% in the same quarter last year
- Active Customers: 10.2 million, up 1.7 million year on year
- Market Capitalization: $5.00 billion
While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Remitly’s Q2 Earnings Call
- Tien-Tsin Huang (JPMorgan) asked CEO Sebastian Gunningham which new initiative excites him most. Gunningham replied that the overall momentum across products and geographies is compelling, avoiding singling out one area.
- Ramsey El-Assal (Cantor Fitzgerald) questioned the scale and pacing of marketing investments for high-value senders. CFO Vikas Mehta responded that spend would increase gradually and be tied to learnings from early campaign results, emphasizing discipline.
- Cristopher Kennedy (William Blair) probed the sustainability of AI-driven productivity gains and their impact on margins. Gunningham and Mehta detailed broad-based cost benefits, especially in engineering and G&A, but cautioned that the full trajectory of AI benefits will emerge over time.
- Alexander Markgraff (KBCM) asked about the differentiation and monetization of receiver products. Gunningham said it’s early days but highlighted the unique position Remitly holds due to direct sender-receiver relationships and ongoing product experimentation.
- David Scharf (Citizens Capital Markets) challenged whether growth accelerators could comprise more than 10% of revenue by 2028. Both Gunningham and Mehta reiterated that these are long-term bets in large markets, with the goal of building much larger multi-revenue stream businesses over time.
Catalysts in Upcoming Quarters
In the coming quarters, our team will closely monitor (1) the adoption and monetization rates of the Remitly Global Card and receiver-focused products, (2) ongoing operating leverage and cost savings derived from further AI and automation deployment, and (3) the ability to capture additional market share in key remittance corridors as legacy competitors adjust their strategies. The pace of growth accelerators and regional licensing developments will also be important to track.
Remitly currently trades at $23.84, in line with $24.07 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it’s free).
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