Remitly Posts Record Q1 Growth, Raises 2026 Outlook
Event summary
- Q1 2026 send volume up 37% YoY to $22.1 billion, revenue up 25% to $452.8 million
- Net income surged 332% YoY to $49.1 million, Adjusted EBITDA up 74% to $101.6 million
- Active customers increased 20% YoY to 9.6 million
- Full-year 2026 revenue guidance raised to $1.96B–$1.97B (20–21% growth)
- Q2 2026 revenue expected at $483M–$485M (17–18% YoY growth)
The big picture
Remitly's record Q1 results underscore its leadership in the digital remittance space, with strong operational leverage and disciplined cost management. The company's ability to scale while maintaining profitability positions it favorably against traditional money transfer services and fintech competitors. The raised 2026 outlook reflects confidence in sustained momentum, though external factors like geopolitical risks and regulatory shifts could impact its cross-border financial services.
What we're watching
- Sustainability of Growth
- Whether Remitly can maintain its 37% YoY send volume growth amid competitive pressures and macroeconomic uncertainties.
- Operational Efficiency
- The pace at which AI-driven efficiencies and scale benefits will continue to boost Adjusted EBITDA margins.
- Market Expansion
- How Remitly's product innovation and corridor performance will drive further customer acquisition beyond the current 9.6 million active users.
Related topics