REMITLY GLOBAL INC

Remitly used the Goldman Sachs conference to explain expanding the business beyond pure remittances and to introduce new initiatives such as Remitly Business, the Global Card and a partnership with Etsy. The company reported H1 growth of over 20%, more than 10 million active customers, and raised its full-year EBITDA margin guidance to about 20–21%. Artificial intelligence is expected to accelerate product development, cost efficiency and revenue growth, while higher transaction limits, new licenses (including UAE, Japan, Brazil) and concierge services bolster the business for high-volume transfers. Short-term regulatory effects and volatile transaction losses are cited as temporary headwinds, but management remains optimistic about long-term diversification and cash-flow strength. » Más en de.investing.com

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. » Más en 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. » Más en finance.yahoo.com