Remitly Q1 revenue up 50% to $204M; active customers +50%; raises FY guidance

Remitly Global, Inc.

2023-Q1 EPS reported -$0.16 revenue$203,865,000

Q1 revenue $203.9M (+50% YoY); active customers 4.6M (+50%); send volume $8.5B (+40%).
Net loss widened to $28.3M from $23.3M; adjusted EBITDA turned positive to $5.4M (vs -$12.1M).
FY 2023 revenue guidance raised to $875-895M from $860-880M; EBITDA guidance to $5-15M from $0-10M.
CEO cites long-term customer-centric investments and increasing scale as key drivers.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Remitly Global, Inc. reported first quarter ended March 31, 2023 results: revenue $203.9 million, net income Net loss was $28.3 million. Guidance raised.

Period: first quarter ended March 31, 2023
Revenue: $203.9 million
Net income: Net loss was $28.3 million
Guidance: raised
Result: reported results

Exact text from the filing

quarter of 2022) • Active customers increased to 4.6 million, from 3.0 million, up 50%. • Send volume increased to $8.5 billion, from $6.1 billion, up 40%. • Revenue totaled $203.9 million, compared to $136.0 million, up 50%. • Net loss was $28.3 million, compared to a net loss of $23.3 million. • Adjusted EBITDA was $5.4 million, compared to $(12.1) million. 2023

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Source: SEC EDGAR

accession 0001782170-23-000069

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