Remitly Lifts 2026 Ebitda Outlook After Record Quarter

The Tip Desk · November 11, 2026 · 3 min read

The company now expects full-year Adjusted EBITDA of $441 million to $443 million after third-quarter revenue of $509.8 million.

Remitly Global (RELY), a provider of cross-border financial services, reported record third-quarter revenue of $509.8 million, up 22% from a year earlier, and raised its full-year 2026 Adjusted EBITDA outlook to $441 million to $443 million.

The year-over-year revenue growth rate rose from 20% in the second quarter but slowed from 25% in the first. Send volume rose 25% to $24.4 billion, after 27% growth in the second quarter and 37% in the first. Active customers increased to 10.3 million, up 17%, after 20% growth in each of the two prior quarters.

Net income was $67.6 million, or $0.30 a share, compared with $8.8 million, or $0.04 a share, a year earlier. The second-quarter net income of $205.9 million had included a $140.6 million discrete tax benefit from a U.S. valuation allowance release. Income from operations was $69.4 million, compared with $11.8 million a year earlier.

Adjusted EBITDA was $120.8 million, up 97% from $61.2 million a year earlier, after 79% growth in the second quarter and 74% in the first. Adjusted EBITDA margin was 24%. Transaction margin was 68%, up from 65% a year earlier. Free cash flow was $87.8 million, compared with $81.8 million a year earlier.

Chief Executive Officer Sebastian Gunningham said the company delivered record revenue and a more than seven-fold year-over-year increase in net income, and that the global network had connected more than 50 million senders and recipients over the past year. The company said it is evolving from a remittance company into a global financial services provider for people and businesses whose money crosses borders.

The investor presentation said consumer remittances included a first send-and-receive app experience in Brazil, access to 11 million additional global accounts, about 84% of transfers delivered in under one minute, and volume growth of more than 50% over the last 12 months. It also said Remitly launched Remitly Reserve with FX protection and guaranteed instant bank transfers.

For fiscal 2026, Remitly now expects total revenue of $1.989 billion to $1.991 billion, representing 22% year-over-year growth, up from a prior range of $1.978 billion to $1.988 billion, or 21% to 22% growth, given after the second quarter. The company also expects year-over-year growth in net income.

For the fourth quarter of 2026, Remitly expects total revenue of $531 million to $533 million, representing 20% to 21% year-over-year growth, and Adjusted EBITDA of $104 million to $106 million. The prior outlook for the third quarter had been revenue of $505 million to $507 million and Adjusted EBITDA of $92 million to $94 million.

The board increased the share repurchase authorization by $300 million, from $200 million to $500 million. The program does not expire and may be suspended, discontinued, or modified at any time without notice. It does not obligate Remitly to acquire any amount of common stock.

Cash and cash equivalents were $669.1 million at September 30, 2026, compared with $542.4 million at year-end 2025. Long-term debt was zero at September 30, compared with $155.0 million at year-end 2025.