REMITLY GLOBAL INC

Remitly shares rose to a new yearly high of $27.15, are up around 86% year-to-date and have gained almost 52% in six months. The company became profitable over the past twelve months, beat expectations in Q2 with adjusted earnings of $0.93 per share and revenue of $495.2 million, and reported more than 10 million active users. Analysts raised estimates and price targets (including $30 and $31), and one analysis sees the stock below its fair value, signaling further upside potential. » More on de.investing.com

Remitly reported customer growth of about 20% quarter over quarter while send volume rose roughly twice as fast, boosting revenue and producing EBITDA gains of 74% in Q1 and 79% in Q2. Pretax net income reached $64.6 million on nearly $500 million revenue in Q2 as digital scale and larger/active customers improved unit economics. Analysts see secular tailwinds in cross-border remittances and project continued market share gains, though the stock may remain volatile and suits long-term growth investors. » More on finance.yahoo.com

Remitly reported adjusted earnings per share of $0.93 and revenue of $495.2 million, both well above consensus, while active customers topped 10 million for the first time and transaction volume grew to $23.5 billion. Management raised the full-year revenue guidance to roughly $1.978–1.988 billion and expects Q3 revenue of $505–507 million. The adjusted EBITDA margin climbed to 23.2%, analysts raised price targets, and the stock rose intraday about 7.6% to a 52-week high. » More on de.investing.com