Professional
Added to YB: 2024-05-03
Pitch date: 2024-05-02
RELY [bullish]
Remitly Global, Inc.
-6.63%
current return
Author Info
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Company Info
Remitly Global, Inc. engages in the provision of digital financial services in the United States, Canada, and internationally.
Market Cap
$3.1B
Pitch Price
$15.53
Price Target
N/A
Dividend
N/A
EV/EBITDA
45.64
P/E
155.44
EV/Sales
1.70
Sector
Financial Services
Category
turnaround
Remitly : UPDATE : ADD
RELY Q1: Active customers +36% to 6.2M, send volume +34% to $11.5B, revenue +32% to $269M. Net loss narrowed to $21M. 2024 outlook raised: $1.23-1.25B rev (+30-32%), $85-95M adj EBITDA. Scalable model gaining leverage despite stock selloff. Confidence in long-term thesis.
Read full article (2 min)