Remitly Global (RELY)


Market Price (10/15/2026): $23.43 | Market Cap: $4.9 BilSector: Financials | Industry: Transaction & Payment Processing Services

Remitly Global (RELY)


Market Price (10/15/2026): $23.43
Market Cap: $4.9 Bil
Sector: Financials
Industry: Transaction & Payment Processing Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%, FCF Yield is 7.6%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -13%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments.

Weak multi-year price returns
3Y Excs Rtn is -91%

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x

Key risks
RELY key risks include [1] its business model's reliance on a global network of third-party payment providers and banks, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.2%, FCF Yield is 7.6%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -13%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 21%
3 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Digital Payments.
4 Weak multi-year price returns
3Y Excs Rtn is -91%
5 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 28x
6 Key risks
RELY key risks include [1] its business model's reliance on a global network of third-party payment providers and banks, Show more.

RELY in ETFs

Weight = RELY's share of each fund

VTI0.01%
ITOT0.01%
IWM0.12%
IJR0.17%
VB0.06%
SLYG0.39%
IWO0.25%
IJT0.22%
+11 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/9/2026

Remitly Global (RELY) stock has gained about 5% since 6/30/2026 because of the following key factors:

1. Remitly Global exceeded fiscal Q2 2026 earnings expectations and raised full-year guidance.

On August 5, 2026, Remitly Global reported fiscal Q2 2026 revenue of $495.2 million, a 20% year-over-year increase, surpassing analyst estimates of $486.25 million. Adjusted earnings per share (EPS) reached $0.93, significantly beating the consensus forecast of $0.12. Following these strong results, the company raised its full-year fiscal 2026 revenue outlook to a range of $1.978 billion to $1.988 billion, representing 21% to 22% growth year-over-year, and increased its adjusted EBITDA guidance to $410 million to $415 million.

2. The company demonstrated robust customer growth and operational efficiency.

During fiscal Q2 2026, Remitly Global achieved a milestone of over 10 million quarterly active users, reaching 10.2 million, which is a 20% increase year-over-year. Send volume also saw substantial growth, rising 27% to $23.5 billion. Adjusted EBITDA increased by 79% year-over-year to a record $115 million, reflecting improved operating leverage and AI-driven efficiency gains which nearly tripled free cash flow to over $130 million.

Show more
Updated on 10/9/2026

Remitly Global (RELY) stock has gained about 5% since 6/30/2026 because of the following key factors:

1. Remitly Global exceeded fiscal Q2 2026 earnings expectations and raised full-year guidance.

On August 5, 2026, Remitly Global reported fiscal Q2 2026 revenue of $495.2 million, a 20% year-over-year increase, surpassing analyst estimates of $486.25 million. Adjusted earnings per share (EPS) reached $0.93, significantly beating the consensus forecast of $0.12. Following these strong results, the company raised its full-year fiscal 2026 revenue outlook to a range of $1.978 billion to $1.988 billion, representing 21% to 22% growth year-over-year, and increased its adjusted EBITDA guidance to $410 million to $415 million.

2. The company demonstrated robust customer growth and operational efficiency.

During fiscal Q2 2026, Remitly Global achieved a milestone of over 10 million quarterly active users, reaching 10.2 million, which is a 20% increase year-over-year. Send volume also saw substantial growth, rising 27% to $23.5 billion. Adjusted EBITDA increased by 79% year-over-year to a record $115 million, reflecting improved operating leverage and AI-driven efficiency gains which nearly tripled free cash flow to over $130 million.

3. Strategic product launches and market expansion contributed to positive sentiment.

Within the specified period, Remitly Global expanded its offerings by launching the Remitly Global Card, a new all-in-one product for sending, spending, saving, and borrowing. The company also expanded its reach to 179 receive geographies, adding five new countries in fiscal Q2 2026. Additionally, a partnership with Etsy was announced on September 9, 2026, aimed at providing sellers with more global payment choices.

4. Positive analyst sentiment and increased price targets bolstered investor confidence.

Following the strong fiscal Q2 2026 performance and raised guidance, multiple Wall Street analysts reiterated or raised their price targets for Remitly Global. The stock received a consensus rating of "Strong Buy" or "Buy" from analysts, with average 12-month price targets ranging from $27.78 to $32.22, indicating a potential upside from its current trading levels. This positive analyst outlook reinforced investor confidence in the company's future performance.

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Stock Movement Drivers

Fundamental Drivers

The 4.8% change in RELY stock from 6/30/2026 to 10/14/2026 was primarily driven by a 175.4% change in the company's Net Income Margin (%).
(LTM values as of)630202610142026Change
Stock Price ($)22.4123.494.8%
Change Contribution By: 
Total Revenues ($ Mil)1,7261,8104.8%
Net Income Margin (%)6.1%16.9%175.4%
P/E Multiple44.816.2-63.7%
Shares Outstanding (Mil)2112110.1%
Cumulative Contribution4.8%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/14/2026
ReturnCorrelation
RELY4.8% 
Market (SPY)3.1%32.5%
Sector (XLF)1.7%43.1%

Fundamental Drivers

The 49.9% change in RELY stock from 3/31/2026 to 10/14/2026 was primarily driven by a 305.7% change in the company's Net Income Margin (%).
(LTM values as of)331202610142026Change
Stock Price ($)15.6723.4949.9%
Change Contribution By: 
Total Revenues ($ Mil)1,6351,81010.7%
Net Income Margin (%)4.2%16.9%305.7%
P/E Multiple48.416.2-66.4%
Shares Outstanding (Mil)210211-0.5%
Cumulative Contribution49.9%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/14/2026
ReturnCorrelation
RELY49.9% 
Market (SPY)18.6%37.8%
Sector (XLF)10.8%32.7%

Fundamental Drivers

The 44.1% change in RELY stock from 9/30/2025 to 10/14/2026 was primarily driven by a 1649.9% change in the company's Net Income Margin (%).
(LTM values as of)930202510142026Change
Stock Price ($)16.3023.4944.1%
Change Contribution By: 
Total Revenues ($ Mil)1,4621,81023.8%
Net Income Margin (%)1.0%16.9%1649.9%
P/E Multiple237.016.2-93.1%
Shares Outstanding (Mil)205211-2.9%
Cumulative Contribution44.1%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/14/2026
ReturnCorrelation
RELY44.1% 
Market (SPY)16.5%31.4%
Sector (XLF)2.4%28.3%

Fundamental Drivers

The -6.9% change in RELY stock from 9/30/2023 to 10/14/2026 was primarily driven by a -51.6% change in the company's P/S Multiple.
(LTM values as of)930202310142026Change
Stock Price ($)25.2223.49-6.9%
Change Contribution By: 
Total Revenues ($ Mil)7981,810126.7%
P/S Multiple5.72.7-51.6%
Shares Outstanding (Mil)179211-15.1%
Cumulative Contribution-6.9%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/14/2026
ReturnCorrelation
RELY-6.9% 
Market (SPY)86.2%28.0%
Sector (XLF)71.6%26.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
RELY Return-57%-44%70%16%-39%72%-51%
Peers Return-15%-32%-5%24%-27%2%-50%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
RELY Win Rate0%50%75%58%42%60% 
Peers Win Rate42%38%55%47%38%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
RELY Max Drawdown--67%-35%-46%-55%-26% 
Peers Max Drawdown-40%-53%-39%-25%-43%-32% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: PYPL, WU, EEFT, PAYO, FLYW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/14/2026 (YTD)

How Low Can It Go

EventRELYS&P 500
2025 US Tariff Shock
  % Loss-28.0%-18.8%
  % Gain to Breakeven38.9%23.1%
  Time to Breakeven485 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-65.8%-24.5%
  % Gain to Breakeven192.2%32.4%
  Time to Breakeven439 days427 days

Compare to PYPL, WU, EEFT, PAYO, FLYW

In The Past

Remitly Global's stock fell -28.0% during the 2025 US Tariff Shock. Such a loss loss requires a 38.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventRELYS&P 500
2025 US Tariff Shock
  % Loss-28.0%-18.8%
  % Gain to Breakeven38.9%23.1%
  Time to Breakeven485 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-65.8%-24.5%
  % Gain to Breakeven192.2%32.4%
  Time to Breakeven439 days427 days

Compare to PYPL, WU, EEFT, PAYO, FLYW

In The Past

Remitly Global's stock fell -28.0% during the 2025 US Tariff Shock. Such a loss loss requires a 38.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Remitly Global (RELY)

Remitly Global, Inc. (RELY) is a digital financial services company that specializes in facilitating international money transfers. The company's core mission is to serve immigrants and their families by providing a convenient and reliable platform for sending funds across borders.

The primary service offered by Remitly is its cross-border remittance platform, which enables users to digitally send money from one country to another. This service is crucial for individuals supporting family members abroad, often in developing economies, offering a modern alternative to traditional money transfer methods.

Remitly's primary customers are immigrants and their families, with its platform currently supporting transfers to approximately 150 countries. The company addresses a significant need within the global diaspora for efficient, secure, and accessible financial connections between their current residences and home countries.

AI Analysis | Feedback

Here are 1-3 brief analogies for Remitly Global:

  • A digital Western Union
  • PayPal for immigrants sending money internationally
  • Wise (formerly TransferWise) for immigrant families

AI Analysis | Feedback

  • Cross-Border Remittance Services: Remitly enables immigrants and their families to send money digitally across international borders to approximately 150 countries.

AI Analysis | Feedback

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Remitly Global (RELY) primarily sells its services to individuals.

Major Customer Categories:

  1. Immigrants and Migrant Workers: These are individuals who have relocated from their home countries to live and work abroad. They utilize Remitly's cross-border remittance platform to regularly send money to their families, dependents, or for personal financial management in their countries of origin. This group represents the core demographic and primary users of Remitly's services, as the company explicitly states its focus on "immigrants and their families."
  2. Individuals Providing Ongoing Financial Support to Family Abroad: This category encompasses individuals whose primary purpose for using Remitly is to provide consistent financial aid and support to family members who reside in a different country. While largely overlapping with immigrants and migrant workers, this highlights the relationship-based nature and core purpose of many transactions facilitated by Remitly.
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AI Analysis | Feedback

  • Amazon.com, Inc. (symbol: AMZN)
  • Visa Inc. (symbol: V)
  • Mastercard Incorporated (symbol: MA)

AI Analysis | Feedback

Sebastian J. Gunningham, Chief Executive Officer

Sebastian J. Gunningham was appointed CEO of Remitly Global, Inc., effective February 19, 2026, succeeding co-founder Matt Oppenheimer. Prior to joining Remitly, he served for over a decade at Amazon as a Senior Vice President and member of the executive S-Team, where he led fast-growing global businesses across marketplace, payments, search, and fulfillment. He also held senior executive roles at Oracle and Apple. Before his role at Remitly, Gunningham was the chairman of Santander Consumer Finance and vice chairman at Openbank.

Vikas Mehta, Chief Financial Officer

Vikas Mehta assumed the role of Chief Financial Officer at Remitly Global, Inc., effective August 19, 2024. He brings over 25 years of global experience in Fintech, Software, and eCommerce, driving hyper-growth and business transformation. Mehta's career includes CFO positions at Anaplan and Nike Direct, as well as significant leadership roles at Walmart, Microsoft, and PayPal. Most recently, he served as the CFO of Komodo Health.

Matthew B. Oppenheimer, Co-Founder and Chairman of the Board

Matthew B. Oppenheimer co-founded Remitly in May 2011 and served as its CEO for nearly 15 years, leading the company through transformative growth. He transitioned to Chairman of the Board, effective February 19, 2026. Before establishing Remitly, Oppenheimer led mobile and internet banking initiatives for Barclays Bank Kenya and worked for Barclays Corporate Bank in the United Kingdom. He was also an Entrepreneur in Residence at Highway 12 Ventures, and Remitly itself is backed by various investors, including Bezos Expeditions.

Ankur Sinha, Chief Product and Technology Officer

Ankur Sinha serves as the Chief Product and Technology Officer for Remitly Global, Inc.

Pankaj Sharma, Chief Business Officer

Pankaj Sharma holds the position of Chief Business Officer at Remitly Global, Inc.

AI Analysis | Feedback

Here are the key risks to Remitly Global (RELY):

Key Risks to Remitly Global (RELY)

  1. Intense Competition and Pricing Pressure: Remitly operates in a highly competitive market for cross-border remittances, facing pressure from established players like Western Union, as well as digital-first competitors such as Wise and PayPal's Xoom. This intense competition can lead to aggressive pricing strategies and declining "take rates" (the percentage of send volume converted into revenue), which in turn can compress profit margins and make it challenging to maintain profitability.
  2. Regulatory and Compliance Risks: As a provider of digital financial services across numerous countries, Remitly is subject to complex and evolving regulatory landscapes, including anti-money laundering (AML), counter-terrorist financing (CFT), and data privacy regulations. Compliance with these diverse international and domestic laws requires significant investment and operational complexity. Failure to comply, or changes in regulatory policies, could result in penalties, operational restrictions, increased costs, or loss of licenses necessary to operate in certain corridors.
  3. Macroeconomic and Geopolitical/Immigration Risks: Remitly's business model is inherently linked to global migration patterns and economic conditions. Factors such as tightening North American immigration policies, potential remittance taxes, global economic slowdowns, or significant currency fluctuations can directly impact the volume of money sent and received by immigrants. Geopolitical tensions can also disrupt international money movement and affect payment volumes.

AI Analysis | Feedback

The clear emerging threat for Remitly Global is the potential for major technology companies ("Big Tech") to aggressively expand into and dominate the cross-border remittance market. Companies like Google, Apple, and Meta (WhatsApp Pay) possess massive user bases, established digital ecosystems, and significant financial resources. Should they fully leverage these assets to offer seamless, low-cost international money transfer services, they could rapidly capture market share, challenging Remitly's competitive advantages in user acquisition, convenience, and pricing.

AI Analysis | Feedback

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Remitly Global (RELY) operates within significant addressable markets related to cross-border financial services, primarily focusing on digital remittances for consumers and expanding into business payments.

Global Digital Remittance Market (Revenue)

The global digital remittance market, representing the revenue generated by digital remittance service providers, was estimated to be around USD 24.4 billion to USD 25.2 billion in 2024. This market is projected to grow substantially, reaching approximately USD 60.05 billion by 2030 and up to USD 81.48 billion by 2032-2033, exhibiting a compound annual growth rate (CAGR) ranging from 12.7% to 16.7% during the forecast periods.

Global Consumer-to-Consumer (C2C) Cross-Border Remittance Market (Total Transfer Volume)

The broader global market for Consumer-to-Consumer (C2C) cross-border payments, which includes migrant remittances, represents the total volume of money transferred. This market had a global Total Addressable Market (TAM) of USD 2.1 trillion in 2025 and is forecast to grow to USD 3.3 trillion by 2033, at a CAGR of 5.8%.

Other estimates for the overall global remittance market indicate a value of USD 784.25 billion in 2022, projected to reach USD 1,329.92 billion by 2032 with a CAGR of 5.8%. Remitly's management estimates the total consumer-cross-border TAM to be around USD 1.8 trillion, with a more immediate target for Remitly at over USD 600 billion.

Expanded Addressable Market (Including Business Payments)

With the launch of "Remitly Business," the company is expanding its focus beyond traditional consumer remittances to include business-to-business (B2B) cross-border payments, particularly for freelancers and small businesses. This strategic expansion significantly increases Remitly's potential Total Addressable Market (TAM) from approximately USD 2 trillion (C2C) to over USD 22 trillion, encompassing a wider range of cross-border payment activities.

The global B2B cross-border payments market alone had a total size of USD 34.8 trillion in 2025 and is projected to grow to USD 51.2 trillion by 2033, at a CAGR of 4.9%.

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AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Remitly Global (RELY) over the next 2-3 years:

  1. Growth in Active Customers: Remitly continues to demonstrate robust growth in its active customer base, which is a fundamental driver for increasing transaction volumes and overall revenue. The company reported 9.3 million active customers in Q4 2025, an increase of 19% year-over-year. Management consistently highlights customer acquisition and retention as key to sustainable long-term returns.

  2. Expansion into New Products and Services: Remitly is diversifying its offerings beyond core money transfers to become a broader financial services platform. Key new products include "Remitly One," which encompasses a membership option, Remitly Wallet, and "Remitly Flex" (a send-now-pay-later service), and "Remitly Business," a tailored payment platform for companies and entrepreneurs. These new products are expected to create meaningful opportunities for future growth and are projected to contribute significantly to total revenue by 2028, with their contribution more than doubling in 2026.

  3. Strategic Focus on Higher-Value Senders and SMBs: The company is shifting its focus to attract and retain higher-amount senders and small and medium-sized businesses (SMBs). This strategy is evidenced by the significant growth in send volume from these segments, with volume from very high amount senders skyrocketing by 105% in Q4 2025, and these tiers now comprising nearly 50% of send volume. This focus aims to drive greater value per customer and increase overall transaction volumes.

  4. Geographic Expansion: While Remitly already operates in approximately 170 countries, continued geographic expansion into high-growth corridors is a driver of revenue. Specifically, efforts are concentrated on expanding into regions such as the Middle East and the Gulf Cooperation Council. Furthermore, the company has seen success in diversifying its revenue mix, with transactions outside India, the Philippines, and Mexico now accounting for over half of its total revenue.

  5. Leveraging Artificial Intelligence (AI): AI is a central component of Remitly's strategy to enhance operational efficiency, reduce costs, and improve the overall customer experience, which indirectly drives revenue growth. AI initiatives aim to reduce transaction losses (e.g., through fraud detection and prevention models), improve speed, and maintain a competitive advantage, supporting more efficient customer acquisition and retention.

AI Analysis | Feedback

Capital Allocation Decisions for Remitly Global (RELY)

Share Repurchases

  • Remitly Global authorized a $200 million share repurchase program in August 2025.
  • This program aims to return capital to stockholders and offset a portion of the dilution associated with employee equity compensation.
  • The company anticipates increasing the quarterly pacing of its buyback activity in 2026.

Share Issuance

  • Management has focused on reducing stock-based compensation intensity and maintaining dilution at approximately 5%.
  • Proposed sales of common stock by executives have been reported under Rule 10b5-1 trading plans and in connection with previously converted preferred shares.

Capital Expenditures

  • Capital expenditures have increased over the past few years, reaching $9.10 million in 2023, $18 million in 2024, and $42 million in 2025.
  • From fiscal years ending December 2020 to 2024, Remitly Global's capital expenditures averaged $3.311 million.
  • The company's robust balance sheet and cash generation support investments in research and development, particularly in AI and fraud prevention, as well as in corridor expansion.

Better Bets vs. Remitly Global (RELY)

Peer Outperformance in Transaction & Payment Processing Services

RELY has outperformed 56% of its 16 Transaction & Payment Processing Services peers over 5Y. Transaction & Payment Processing Services ranks 17th of 18 industries in Financials by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Transaction & Payment Processing Services constituents that RELY has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
94%
of 18 industry peers · 60.0% return
3Y
41%
of 17 industry peers · -9.4% return
5Y
56%
of 16 industry peers · -38.7% return
No Transaction & Payment Processing Services peer with a comparable growth profile has beaten RELY by more than 20pp over 5Y.
Median price return by industry across the Financials sector, ranked by 5Y. Transaction & Payment Processing Services is RELY's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Reinsurance 6 20.1%65.2%115.7% SPNT 172% · RNR 142% · RGA 141%
Diversified Banks 12 30.2%130.5%97.2% CM 142% · JPM 133% · RY 125%
Investment Banking & Brokerage 13 -5.0%100.3%93.3% IBKR 406% · SNEX 198% · HOOD 173%
Life & Health Insurance 20 12.8%52.5%84.5% JXN 486% · UNM 296% · MFC 178%
Multi-Sector Holdings 4 4.8%53.2%72.5% BRK-B 87% · VOYA 58% · JEF 36%
Property & Casualty Insurance 42 9.0%72.5%63.4% PGR 174% · TRV 162% · WRB 146%
Multi-line Insurance 9 7.3%64.8%57.9% GNW 105% · L 96% · AIZ 84%
Regional Banks 263 28.1%91.6%50.7% CBC 219% · FCNCA 153% · FBP 139%
Financial Exchanges & Data 15 3.5%44.0%30.2% VIRT 162% · CBOE 150% · CME 68%
Consumer Finance 30 6.4%86.2%24.2% ENVA 391% · EZPW 303% · FCFS 177%
Diversified Financial Services 4 -6.2%18.6%10.8% FRHC 174% · EQH 89%
Insurance Brokers 15 -20.9%-2.3%7.7% LIFE 317% · ARX 88% · AJG 55%
Asset Management & Custody Banks 82 -11.0%16.6%6.9% WT 330% · AAMI 255% · SII 255%
Commercial & Residential Mortgage Finance 13 -58.4%15.9%-7.6% FNMA 384% · FMCC 341% · ACT 171%
Specialized Finance 3 11.8%35.4%-13.5% CACC -13% · HASI -17%
Mortgage REITs 33 -18.1%-5.3%-32.9% RITM 25% · DX 18% · AGNC 7%
Transaction & Payment Processing Services ← 17 2.4%-2.8%-43.2% V 85% · MA 82% · CPAY 55%
Diversified Capital Markets 20 -50.0%16.7%-62.3% LPLA 100% · TW 35% · RIOT -35%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

RELYPYPLWUEEFTPAYOFLYWMedian
NameRemitly .PayPal Western .Euronet .Payoneer.Flywire  
Mkt Price23.4356.046.0463.797.1318.0620.74
Mkt Cap4.949.11.92.42.42.22.4
Rev LTM1,81034,1284,0374,3758627142,923
Op Inc LTM1716,282642505-10740338
FCF LTM3756,586424269116154322
FCF 3Y Avg2326,19341946112994325
CFO LTM4067,475610401222166404
CFO 3Y Avg2586,952561580208102410

Growth & Margins

RELYPYPLWUEEFTPAYOFLYWMedian
NameRemitly .PayPal Western .Euronet .Payoneer.Flywire  
Rev Chg LTM23.8%5.7%-1.6%5.8%11.3%32.2%8.5%
Rev Chg 3Y Avg31.5%6.1%-2.7%7.5%14.2%27.2%10.8%
Rev Chg Q20.2%4.8%-1.3%3.2%9.8%27.2%7.3%
QoQ Delta Rev Chg LTM4.8%1.2%-0.3%0.8%2.4%5.3%1.8%
Op Inc Chg LTM627.6%2.0%-9.9%-6.2%9.8%691.4%5.9%
Op Inc Chg 3Y Avg250.4%9.8%-8.2%7.2%5.2%283.7%8.5%
Op Mgn LTM9.5%18.4%15.9%11.6%-12.4%5.6%10.5%
Op Mgn 3Y Avg0.5%18.3%17.0%12.2%-15.2%0.7%6.5%
QoQ Delta Op Mgn LTM2.6%-0.5%-1.4%-0.6%-0.5%0.7%-0.5%
CFO/Rev LTM22.4%21.9%15.1%9.2%25.8%23.3%22.2%
CFO/Rev 3Y Avg16.8%21.4%13.6%14.3%27.4%17.0%16.9%
FCF/Rev LTM20.7%19.3%10.5%6.1%13.4%21.5%16.4%
FCF/Rev 3Y Avg15.0%19.1%10.1%11.4%17.2%15.5%15.3%

Valuation

RELYPYPLWUEEFTPAYOFLYWMedian
NameRemitly .PayPal Western .Euronet .Payoneer.Flywire  
Mkt Cap4.949.11.92.42.42.22.4
P/S2.71.40.50.62.83.12.1
P/Op Inc28.97.82.94.8-22.654.96.3
P/EBIT28.17.82.94.521.551.114.6
P/E16.210.04.88.447.965.013.1
P/CFO12.26.63.16.010.813.38.7
Total Yield6.2%10.5%36.9%11.9%2.1%1.5%8.3%
Dividend Yield0.0%0.5%16.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg6.0%11.9%14.1%12.9%5.6%4.8%9.0%
D/E0.00.31.41.20.00.00.2
Net D/E-0.10.0-0.10.3-0.1-0.1-0.1

Returns

RELYPYPLWUEEFTPAYOFLYWMedian
NameRemitly .PayPal Western .Euronet .Payoneer.Flywire  
1M Rtn5.3%3.7%-11.0%-10.5%-0.1%-0.2%-0.1%
3M Rtn-6.1%1.2%-22.2%-18.5%0.4%-3.8%-5.0%
6M Rtn24.2%13.7%-29.5%-13.4%39.1%39.1%19.0%
12M Rtn53.0%-18.1%-18.0%-27.3%20.1%38.7%1.0%
3Y Rtn-10.6%1.6%-38.4%-13.7%25.8%-34.7%-12.2%
1M Excs Rtn4.4%1.2%-11.6%-11.9%-2.8%-1.2%-2.0%
3M Excs Rtn-10.8%-4.6%-28.6%-25.4%-3.0%-7.0%-8.9%
6M Excs Rtn13.1%2.5%-40.7%-24.6%27.9%28.0%7.8%
12M Excs Rtn40.5%-35.0%-33.9%-40.5%4.9%26.5%-14.5%
3Y Excs Rtn-91.3%-82.2%-118.4%-95.0%-62.3%-118.3%-93.1%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment1,6351,264944654459
Total1,6351,264944654459


Net Income by Segment
$ Mil202520242023
Single Segment68-37-118
Total68-37-118


Price Behavior

Price Behavior
Market Price$23.49 
Market Cap ($ Bil)5.0 
First Trading Date09/23/2021 
Distance from 52W High-12.7% 
   50 Days200 Days
DMA Price$23.85$19.87
DMA Trenddownup
Distance from DMA-1.5%18.2%
 3M1YR
Volatility51.0%56.8%
Downside Capture244.93128.00
Upside Capture160.59158.61
Correlation (S&P 500)32.6%31.8%
RELY Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta1.321.731.441.431.350.94
Up Beta-4.550.560.321.081.090.95
Down Beta6.705.672.421.702.051.10
Up Capture41%139%147%182%146%41%
Bmk +ve Days6162766132424
Stock +ve Days10203066125351
Down Capture346%216%177%132%111%100%
Bmk -ve Days16263760120328
Stock -ve Days12213358123390

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RELY
RELY58.5%56.8%1.02-
Sector ETF (XLF)4.8%14.6%0.0928.0%
Equity (SPY)17.1%12.7%0.9631.5%
Gold (GLD)-0.6%29.4%-0.021.6%
Commodities (DBC)49.3%20.7%1.82-12.1%
Real Estate (VNQ)5.7%13.7%0.1517.3%
Bitcoin (BTCUSD)-27.9%43.7%-0.6318.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RELY
RELY-10.1%58.3%0.05-
Sector ETF (XLF)8.9%18.3%0.3528.8%
Equity (SPY)13.6%17.1%0.6037.1%
Gold (GLD)17.9%18.9%0.762.9%
Commodities (DBC)10.0%19.5%0.393.9%
Real Estate (VNQ)1.2%18.8%-0.0525.9%
Bitcoin (BTCUSD)8.5%51.8%0.3424.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RELY
RELY-7.1%58.4%-0.02-
Sector ETF (XLF)13.0%22.1%0.5328.7%
Equity (SPY)15.4%17.9%0.7337.1%
Gold (GLD)12.0%16.4%0.603.0%
Commodities (DBC)8.2%18.1%0.373.9%
Real Estate (VNQ)4.8%20.7%0.1926.1%
Bitcoin (BTCUSD)63.5%66.2%1.0324.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity20.0 Mil
Short Interest: % Change Since 91520269.5%
Average Daily Volume4.5 Mil
Days-to-Cover Short Interest4.4 days
Basic Shares Quantity210.8 Mil
Short % of Basic Shares9.5%

Earnings Returns History

Updated 9/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20267.7%0.7%11.8%
5/6/2026-4.0%0.1%-20.9%
2/18/202625.9%19.4%15.3%
11/5/2025-25.1%-25.8%-17.8%
8/6/202515.1%21.3%18.3%
5/7/202514.6%9.7%2.1%
2/19/2025-0.5%-8.0%-20.6%
10/30/202417.8%29.3%34.7%
...
SUMMARY STATS   
# Positive111212
# Negative988
Median Positive15.1%14.7%13.6%
Median Negative-12.2%-20.2%-20.7%
Max Positive25.9%29.3%42.1%
Max Negative-31.9%-29.1%-45.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/5/20267.7%0.7%11.8%
5/6/2026-4.0%0.1%-20.9%
2/18/202625.9%19.4%15.3%
11/5/2025-25.1%-25.8%-17.8%
8/6/202515.1%21.3%18.3%
5/7/202514.6%9.7%2.1%
2/19/2025-0.5%-8.0%-20.6%
10/30/202417.8%29.3%34.7%
7/31/20244.0%0.4%4.1%
5/1/2024-12.2%-15.3%-25.9%
2/21/202418.0%18.2%21.1%
11/1/2023-31.9%-25.0%-24.1%
8/2/202320.6%23.0%37.7%
5/3/20235.8%5.5%11.1%
2/22/202322.2%23.0%42.1%
11/2/2022-4.7%-15.3%-2.1%
8/3/202211.4%11.2%2.0%
5/5/2022-20.1%-29.1%4.6%
3/2/2022-1.9%-12.5%-9.4%
11/10/2021-15.5%-26.0%-45.9%
SUMMARY STATS   
# Positive111212
# Negative988
Median Positive15.1%14.7%13.6%
Median Negative-12.2%-20.2%-20.7%
Max Positive25.9%29.3%42.1%
Max Negative-31.9%-29.1%-45.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/06/202610-Q
12/31/202502/18/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202402/19/202510-K
09/30/202410/30/202410-Q
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202302/23/202410-K
09/30/202311/01/202310-Q
06/30/202308/03/202310-Q
03/31/202305/08/202310-Q
12/31/202202/28/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/05/202610-Q
03/31/202605/06/202610-Q
12/31/202502/18/202610-K
09/30/202511/05/202510-Q
06/30/202508/06/202510-Q
03/31/202505/07/202510-Q
12/31/202402/19/202510-K
09/30/202410/30/202410-Q
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202302/23/202410-K
09/30/202311/01/202310-Q
06/30/202308/03/202310-Q
03/31/202305/08/202310-Q
12/31/202202/28/202310-K
09/30/202211/09/202210-Q
06/30/202208/10/202210-Q
03/31/202205/13/202210-Q
12/31/202103/29/202210-K
09/30/202111/12/202110-Q
06/30/202109/24/2021424B4

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q3 2026 RevenueReported505.00 Mil506.00 Mil507.00 Mil4.5% Higher NewGuidance: 484.00 Mil for Q2 2026
Q3 2026 Revenue GrowthReported20.0%20.5%21.0% 3.0%Higher NewGuidance: 17.5% for Q2 2026
Q3 2026 Adjusted EBITDAReported92.00 Mil93.00 Mil94.00 Mil6.9% Higher NewGuidance: 87.00 Mil for Q2 2026
2026 RevenueReported1.98 Bil1.98 Bil1.99 Bil0.8% RaisedGuidance: 1.97 Bil for 2026
2026 Revenue GrowthReported21.0%21.5%22.0% 1.0%RaisedGuidance: 20.5% for 2026
2026 Adjusted EBITDAReported410.00 Mil412.50 Mil415.00 Mil9.3% RaisedGuidance: 377.50 Mil for 2026


Prior: Q1 2026 Earnings Reported 5/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 RevenueReported483.00 Mil484.00 Mil485.00 Mil   
Q2 2026 Revenue GrowthReported17.0%17.5%18.0%   
Q2 2026 Net Income and Adjusted EBITDA GrowthReported8.6E9%8.7E9%8.8E9%   
2026 RevenueReported1.96 Bil1.97 Bil1.98 Bil17.5% RaisedGuidance: 1.68 Bil for 2026
2026 Revenue GrowthReported20.0%20.5%21.0% -1.5%LoweredGuidance: 22.0% for 2026
2026 Net Income and Adjusted EBITDA GrowthReported3.7E10%3.775E10%3.85E10%   

Insider Activity

Updated 10/8/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hug, Joshua DirectSell1008202623.075,500126,88561,086,799Form
2Hug, Joshua DirectSell1008202623.185,500127,49061,505,557Form
3Hug, Joshua DirectSell910202624.305,500133,65064,611,003Form
4Hug, Joshua DirectSell910202625.035,500137,66566,689,657Form
5Morris, Nigel W DirectSell904202627.036,300170,28948,782,555Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Hug, Joshua DirectSell1008202623.075,500126,88561,086,799Form
2Hug, Joshua DirectSell1008202623.185,500127,49061,505,557Form
3Hug, Joshua DirectSell910202624.305,500133,65064,611,003Form
4Hug, Joshua DirectSell910202625.035,500137,66566,689,657Form
5Morris, Nigel W DirectSell904202627.036,300170,28948,782,555Form
6Sharma, PankajChief Business OfficerDirectSell831202626.3921,000554,19018,895,821Form
7Mehta, Vikas DChief Financial OfficerDirectSell826202626.1525,000653,75024,678,670Form
8Morris, Nigel W DirectSell826202626.5616,751444,90748,101,647Form
9Morris, Nigel W DirectSell819202626.533,24986,19648,491,720Form
10Morris, Nigel W DirectSell819202626.2620,000525,20048,083,531Form
11Morris, Nigel W DirectSell817202626.2020,000524,00048,497,667Form
12Morris, Nigel W DirectSell817202625.5911,000281,49047,880,323Form
13Hug, Joshua DirectSell813202623.845,500131,12063,650,154Form
14Riese, Phillip John DirectSell813202623.5469,8181,643,8146,147,268Form
15Hug, Joshua DirectSell813202623.655,500130,07563,272,950Form
16Riese, Phillip John DirectSell811202623.73100,0002,373,0006,195,761Form
17Morris, Nigel W DirectSell811202625.438,938227,29347,860,684Form
18Riese, Phillip John DirectSell811202624.94160,1823,994,9399,005,684Form
19Hug, Joshua DirectSell717202624.115,500132,60564,636,234Form
20Sharma, PankajChief Business OfficerDirectSell717202625.0315,000375,45018,842,834Form
21Hug, Joshua DirectSell717202625.18367,5009,254,80567,651,718Form
22Hug, Joshua DirectSell717202624.93314,7687,847,16676,133,453Form
23Hug, Joshua DirectSell630202622.5316,800378,50475,895,842Form
24Hug, Joshua DirectSell630202622.9716,800385,89677,763,947Form
25Hug, Joshua DirectSell617202620.7616,033332,84570,630,855Form
26Hug, Joshua DirectSell617202620.108,500170,83068,699,586Form
27Hug, Joshua DirectSell602202621.0333,600706,60872,011,851Form
28Hug, Joshua DirectSell529202620.004769,52069,156,880Form
29Sharma, PankajChief Business OfficerDirectSell529202620.0116,000320,16015,363,878Form
30Sinha, AnkurChief Product and Tech OfficerDirectSell527202621.077,596160,04825,762,668Form
31Mehta, Vikas DChief Financial OfficerDirectSell527202621.0725,000526,75020,817,244Form
32Chung, Bora DirectSell521202621.4212,000257,0402,684,290Form
33Hug, Joshua DirectSell515202622.7012,000272,40078,503,864Form
34Sinha, AnkurChief Product and Tech OfficerDirectSell515202623.4250,0001,171,00029,405,356Form
35Hug, Joshua DirectSell515202623.3112,000279,77580,909,065Form
36Morris, Nigel W DirectSell515202624.033,57285,83544,639,041Form
37Hug, Joshua DirectSell513202624.8934,383855,79386,674,945Form
38Hug, Joshua DirectSell501202621.6616,800363,88876,171,787Form
39Hug, Joshua DirectSell501202621.5616,800362,20876,182,325Form
40Somalya, SaemaCLCAODirectSell428202621.2410,987233,3645,285,107Form
41Sharma, PankajChief Business OfficerDirectSell421202620.0010,000200,00013,317,560Form
42Riese, Phillip John DirectSell421202620.0440,000801,6002,454,820Form
43Hug, Joshua DirectSell415202618.3512,000220,14565,131,788Form
44Somalya, SaemaCLCAODirectSell415202618.1123,789430,8194,705,250Form
45Hug, Joshua DirectSell415202617.8812,000214,55063,691,009Form
46Somalya, SaemaCLCAODirectSell415202618.0012,187219,3665,104,872Form
47Hug, Joshua DirectSell407202615.991,43022,86657,153,105Form
48Sharma, PankajChief Business OfficerDirectSell402202615.2610,000152,60010,161,298Form
49Blignaut, Ryno DirectSell317202615.264,50068,670983,507Form
50Naspers, Ltd See FootnotesSell312202615.9812,000,000191,760,000214,799,085Form
51Sinha, AnkurChief Product and Tech OfficerDirectSell312202616.949,741165,01319,991,216Form
52Hug, Joshua DirectSell305202617.9829,049522,30164,291,679Form
53Somalya, SaemaCLCAODirectSell305202618.0036,764661,7525,324,238Form
54Mehta, Vikas DChief Financial OfficerDirectSell305202617.5025,000437,50015,098,282Form
55Hug, Joshua DirectSell303202616.7340,777682,19960,308,003Form
56Sharma, PankajChief Business OfficerDirectSell223202616.353,00049,0503,528,821Form
57Blignaut, Ryno DirectSell217202612.894,50058,005419,905Form
58Sharma, PankajChief Business OfficerDirectSell212202613.702,00027,4002,997,971Form
59Blignaut, Ryno DirectSell1216202514.564,50065,520539,827Form
60Sharma, PankajChief Business OfficerDirectSell1211202515.003,00045,0003,312,450Form
61Hug, Joshua DirectSell1201202513.3340,776543,54448,718,004Form
62Blignaut, Ryno DirectSell1128202513.254,50059,625550,882Form
63Sharma, PankajChief Business OfficerDirectSell1113202512.472,00024,9402,523,641Form
64Oppenheimer, Matthew BChief Executive OfficerDirectSell1017202515.3914,583224,43269,264,311Form
65Oppenheimer, Matthew BChief Executive OfficerDirectSell1017202515.5914,583227,34970,391,781Form

Investor Activity (13F)

Updated Oct 15, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Naspers LTD$210.6 Mil83.3%3TRIM -47.2%13F
Lead Edge Capital Management, LLC$59.1 Mil14.5%12TRIM -7.1%13F
Generation Investment Management LLP$120.5 Mil1.1%29Hold13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Azora Capital LP$39.7 Mil2.5%47ExitedDec 31, 202513F
Naspers LTD$210.6 Mil83.3%3TRIM -47.2%Mar 31, 202613F
Lead Edge Capital Management, LLC$59.1 Mil14.5%12TRIM -7.1%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Naspers LTD$210.6 Mil83.3%3TRIM -47.2%13F
Generation Investment Management LLP$120.5 Mil1.1%29Hold13F
Lead Edge Capital Management, LLC$59.1 Mil14.5%12TRIM -7.1%13F
Core Cache Last Updated: 10/14/2026