Remitly Posts 37% Volume Increase and 332% Net Income Growth in Q1
Remitly’s first-quarter send volume rose 37% to $22.1 billion while revenue climbed 25% to $452.8 million, driving net income of $49.1 million (up 332%) and adjusted EBITDA of $101.6 million (up 74%). The company now forecasts 2026 revenue of $1.96–1.975 billion and adjusted EBITDA of $370–385 million.
1. Q1 Results
Remitly delivered record first-quarter results, with send volume rising 37% to $22.1 billion and revenue increasing 25% to $452.8 million. Active customers grew by 20% year over year to 9.6 million, reflecting strong user acquisition across key corridors.
2. Profit and Efficiency Drivers
Net income reached $49.1 million, up 332% from $11.4 million, while adjusted EBITDA climbed 74% to $101.6 million. Management attributed margin expansion to disciplined cost management, scale benefits and AI-driven efficiencies.
3. 2026 Financial Outlook
For fiscal 2026, the company forecasts revenue of $1.96–1.975 billion (20–21% growth) and adjusted EBITDA of $370–385 million. Second-quarter revenue is expected at $483–485 million with adjusted EBITDA of $86–88 million, underscoring continued momentum.