| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 47 | 15.3x | 17.8x | Around median | |
Growth | 94 | 23.8% | 7.1% | Top tier | |
Quality | 94 | 31.7% | 4.5% | Top tier | |
Safety | 90 | — | 2.6x | Top tier | |
Capital Return | 47 | — | 2.12% | Around median | |
Momentum | 74 | 32.1% | 2.9% | Top tier | |
Sentiment | 34 | 4 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Remitly Global operates a global digital money transfer platform, with its core CoreSend service enabling customers to send money quickly and at a competitive cost through a payment and collection network reaching 179 receiving destinations, including 32 countries that support both sending and receiving. The company generates revenue from transfers, with a take rate of 2.11% in Q2 FY2026, while working to diversify its revenue sources through Remitly for Business, high-value transfers, recipient products, and Remitly Global Card, which combines sending, spending, saving, and borrowing.
In Q2 FY2026, Remitly recorded record revenue of $495 million, up 20% year over year and $11 million above the midpoint of guidance. Send volume rose 27% to $23.5 billion, quarterly active customers reached 10.2 million, up 20%, while average send volume per active customer was $2.3 thousand, up 6%. Geographically, U.S. revenue grew 24% and rest-of-world revenue grew 18%, while transfers to regions outside India, the Philippines, and Mexico accounted for more than half of the revenue mix.
Transaction margin reached $334 million, up 25%, and the transaction margin rate reached 67% after improving by 35 basis points. The company recorded net income of $206 million, but this included a $140.6 million tax valuation allowance release, while adjusted EBITDA reached a record $115 million at a 23% margin, and free cash flow exceeded $130 million. Management expects growth accelerators to represent about 5% of revenue in FY2026 and to exceed 10% by FY2028.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average target of $30.5 and a range of $27 to $33; the average target and the high end are above the 52-week range high of $27.15, while the low end nearly matches it. No stated price-to-earnings ratio is available, and Q2 FY2026 net income included a $140.6 million tax valuation allowance release, so the valuation rationale rests more clearly on expected FY2026 revenue growth of between 21% and 22%, an expected adjusted EBITDA margin near 21%, and the company's ability to demonstrate returns from its growth accelerators.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
In Q2 FY2026, revenue rose 20% to $495 million, while send volume grew 27% to $23.5 billion. Quarterly active customers reached 10.2 million, and send volume per customer increased 6% to $2.3 thousand. Management expects FY2026 revenue of between $1.978 billion and $1.988 billion, supported by CoreSend, new geographies, and growth accelerators.
Adjusted EBITDA reached $115 million at a 23% margin, exceeding the midpoint of management's guidance by $28 million. Transaction margin dollars rose 25% to $334 million, and the transaction margin rate improved by 35 basis points to 67%. The company recorded net income of $206 million, but this figure included a $140.6 million tax valuation allowance release, so it does not entirely represent recurring operating improvement.
The company launched Remitly Global Card in 2026 to combine sending, spending, saving, and borrowing in one account, with no monthly fee or minimum requirement for the basic service. Customers can upgrade to a $9.99 monthly membership that includes benefits such as an open line of credit funded by a partner bank. Management said initial response and conversion rates exceeded previous benchmarks, but it has not yet provided standalone revenue for the card, making it a diversification opportunity that remains at an early stage.
The company ended Q2 FY2026 with more than 25 thousand users on the Remitly for Business platform, with sequential acceleration in volume and revenue. More than 80% of customers added to the business platform during the quarter were new to Remitly, and a business customer sends an average of ten times per quarter. High-value customer transfer volume also grew 37%, while the company expanded its recipient product from 6 countries to 130 countries and generated revenue from it for the first time.
Management expects adjusted EBITDA margin to decline to about 18%–19% in Q3 FY2026, compared with 23% in Q2, amid increased marketing investment and normalization of transaction losses. Growth in high-value transfers also slowed in June 2026 due to Indian rupee volatility and Reserve Bank of India measures, and the company has not yet proven the recipient product model at scale. In addition, insiders recorded net sales of $12.8 million over the three months through August 25, 2026, although these transactions may have been prearranged and are insufficient on their own to support a negative thesis.
The analyst consensus is “Buy,” with an average price target of $30.5 within a range of $27 to $33. The average target is above the 52-week range high of $27.15, while the low in that range is $12.08. No stated price-to-earnings ratio is available, so the targets should be considered in light of expected FY2026 revenue growth of between 21% and 22%, as well as execution risks for new products and the expected decline in the Q3 margin from the Q2 level.
