Professional
Added to YB: 2025-05-09
Pitch date: 2025-05-09
RELY [neutral]
Remitly Global, Inc.
-11.78%
current return
Author Info
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Company Info
Remitly Global, Inc., a cross-border payment company engages in the provision of digital financial services in the United States, Canada, and internationally.
Market Cap
$4.8B
Pitch Price
$24.45
Price Target
N/A
Dividend
N/A
EV/EBITDA
44.75
P/E
73.52
EV/Sales
2.72
Sector
Financial Services
Category
growth
Pernas Research Core Position: Remitly Global, Inc.
RELY (holdings update): Q1 blowout: Rev $361M +24% YoY, vol $16.2B +41%, 8M active customers +29%. Adj EBITDA $58.4M (16% margin), GAAP NI $11.4M vs ($21.1M) YoY. WhatsApp integration 'very big deal' - only major remittance provider to secure. Undervalued at 3.7x TTM rev; 2025 outlook likely sandbagged.
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