Remitly Global Inc. (RELY) shares soared 5.44% in Wednesday's after-hours trading, following the company's better-than-expected fourth quarter 2024 results and an upbeat forecast for 2025. The digital money transfer platform reported Q4 revenue of $351.9 million, beating analysts' estimates of $343.4 million, driven by a 32% year-over-year increase in active customers to 7.8 million. Remitly's adjusted EBITDA of $43.7 million also significantly surpassed expectations of $21.9 million.
For fiscal 2025, Remitly expects revenue in the range of $1.565 billion to $1.58 billion, representing 24-25% growth year-over-year and exceeding consensus estimates of around $1.56 billion. The company also forecasts positive GAAP net income and adjusted EBITDA between $180 million and $200 million for the full year, well above analysts' projections.
The strong results and upbeat outlook reflect Remitly's robust product offerings and customer loyalty, which have enabled the company to deliver durable growth and improving profitability. With a global footprint spanning over 170 countries, Remitly's digitally native cross-border payments app continues to resonate with customers, providing a fast, reliable, and transparent money movement experience.
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